HARDEE COUNTY ECONOMIC DEVELOPMENT COUNCIL INC (EIN 650704795) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1996

Legal Domicile

Principal Officer

LEE MIKELL

Phone

8637733030

Tax Period

2022-10-01 to 2023-09-30

HARDEE COUNTY ECONOMIC DEVELOPMENT COUNCIL INC, founded in 1996, is a small nonprofit in the Community Improvement sector that reported $920K in total revenue in fiscal year 2022. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $882K left a modest 4% surplus.

Mission

THIS ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO ASSIST WITH THE ORDERLY, PROGRESSIVE ECONOMIC DIVERSIFICATION OF HARDEE COUNTY, WHICH WILL ENSURE A SUPERIOR QUALITY OF LIFE THROUGH PUBLIC AND PRIVATE ACTIVITIES.

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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%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $910,992

Program Service Revenue $0

Investment Income $0

Other Revenue $9,000

TOTAL REVENUE $919,992

Expense Breakdown

Grants Paid $0

Salaries & Benefits $675,213

Fundraising Expenses $0

Program Expenses $633,294

Other Expenses $207,065

TOTAL EXPENSES $882,278

Year-over-Year Comparison

	2022	2021	Change
Revenue	$919,992	$805,858	+0.1%
Expenses	$882,278	$665,701	+0.3%
Net Income	$37,714	$140,157	-0.7%

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

Governance

Voting Members

Independent Members

Employees

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARNEY CHERRY	VICE-CHAIRMA	5.00	Officer Director	$0	$0	$0
GENE DAVIS	DIRECTOR	3.00	Director	$0	$0	$0
JOHN GILL	DIRECTOR	3.00	Director	$0	$0	$0
COURTNEY GREEN	DIRECTOR	3.00	Director	$0	$0	$0
CHRIS IDSARDI	DIRECTOR	3.00	Director	$0	$0	$0
LEE MIKELL	CHAIRMAN	5.00	Officer Director	$0	$0	$0
CALLI WARD	DIRECTOR	3.00	Director	$0	$0	$0

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
2023	$919,992	$882,278	$185,890	$37,714
2022	$805,858	$665,701	$148,175	$140,157
2021	$401,300	$406,934	$8,018	$-5,634
2020	$396,702	$385,267	$13,652	$11,435
2019	$336,695	$349,532	$4,952	$-12,837
2018	$380,208	$367,290	$17,290	$12,918

HARDEE COUNTY ECONOMIC DEVELOPMENT COUNCIL INC