INDEPENDENT DEVELOPMENT SERVICES CORPORATION

EIN: 650592148

FORT MYERS, FL

Total Revenue
$1,582,941
Total Expenses
$1,625,078
Total Assets
$363,862
Net Assets
$33,228
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
FL
Principal Officer
THOMAS WALLACE
Phone
2396525588
Tax Period
2023-10-01 to 2024-09-30

INDEPENDENT DEVELOPMENT SERVICES CORPORATION, founded in 1995, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year.

Mission

OUR MISSION IS JOB CREATION AND RETENTION THROUGH SBA LENDING.

Program Service Accomplishments

Program 1
Expenses: $1,491,986 Revenue: $1,582,941

IDS CORPORATION IS LICENSED BY THE US SMALL BUSINESS ADMINISTRATION AS A CERTIFIED DEVELOPMENT COMPANY, MAKING AND SERVICING LOANS UNDER THE SBA 504 PROGRAM. HISTORICALLY THE COMPANY HAD AVERAGED...

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IDS CORPORATION IS LICENSED BY THE US SMALL BUSINESS ADMINISTRATION AS A CERTIFIED DEVELOPMENT COMPANY, MAKING AND SERVICING LOANS UNDER THE SBA 504 PROGRAM. HISTORICALLY THE COMPANY HAD AVERAGED APPROVALS OF FORTY NEW LOANS PER YEAR FOR AN AMOUNT SLIGHTLY IN EXCESS OF $40M ANNUALLY. THE COMPANY ALSO, WITH THE CONSENT OF THE SBA, AS THE APPROPRIATE FEDERAL REGULATOR, PROVIDES SUPPORT SERVICES TO OTHER CDC LICENSES FOR MARKETING, UNDERWRITING, AND PORTFOLIO MANAGEMENT; IN THE STATES OF NY, MD, KY, TN, NC, MS, LA, VA, AND DC.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,493,601
Investment Income $0
Other Revenue $89,340
TOTAL REVENUE $1,582,941

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,340,435
Fundraising Expenses $0
Program Expenses $1,491,986
Other Expenses $284,643
TOTAL EXPENSES $1,625,078

Year-over-Year Comparison

2023 2022 Change
Revenue $1,582,941 $1,700,032 -0.1%
Expenses $1,625,078 $1,595,957 +0.0%
Net Income $-42,137 $104,075 -1.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
10
Independent Members
9
Employees
13
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$144,029
Total Directors
11
$144,029
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HAKIM KASSAM DIRECTOR 2.00
Director
$0 $0 $0
CHERYL ADMIRE-BERGAU DIRECTOR 2.00
Director
$0 $0 $0
MIKE KOZAK ASSISTANT SECRETARY 2.00
Director
$0 $0 $0
MARK LIZZI DIRECTOR 2.00
Director
$0 $0 $0
HALEY CASSELMAN DIRECTOR 2.00
Director
$0 $0 $0
LESTER CLARK CHAIR 2.00
Officer Director
$0 $0 $0
SUZANNE SPECHT SECRETARY / TREASURER 2.00
Officer Director
$0 $0 $0
DAN BOCKHORST DIRECTOR 2.00
Officer Director
$0 $0 $0
AL WILLIAMS ASSISTANT SECRETARY 2.00
Officer Director
$0 $0 $0
MICHAEL GREENHOE DIRECTOR 2.00
Director
$0 $0 $0
THOMAS WALLACE PRESIDENT / ASST. SECRETAR 60.00
Officer Director
$144,029 $0 $144,029
MARGARET GUZINSKI SENIOR VICE PRESIDENT 60.00
Highest
$131,685 $0 $131,685
WILLIAM RIDGEWAY VP & SENIOR UNDERWRITER 60.00
Highest
$102,592 $0 $102,592
ERIC MILLER VICE PRESIDENT 60.00
Highest
$100,353 $0 $100,353
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $1,582,941 $1,625,078 $363,862 $-42,137
2023 $1,700,032 $1,595,957 $402,264 $104,075
2022 $1,612,655 $1,777,142 $394,969 $-164,487
2021 $1,844,641 $1,820,477 $4,700,122 $24,164
2020 $1,592,157 $1,530,791 $1,102,848 $61,366
2019 $1,462,763 $1,450,502 $336,484 $12,261
2018 $1,343,450 $1,353,856 $256,250 $-10,406
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