FLORIDA RURAL ECONOMIC DEVELOPMENT… - Form 990 Financial Data

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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

2015

Legal Domicile

Principal Officer

DARRYL REGISTER

Phone

8504871870

Tax Period

2024-01-01 to 2024-12-31

FLORIDA RURAL ECONOMIC DEVELOPMENT ASSOCIATION INC, founded in 2015, is a small nonprofit that reported $478K in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $532K exceeded revenue, resulting in a 11% operating deficit.

Mission

DEVELOPMENT AND EXECUTION OF ECONOMIC DEVELOPMENT STRATEGIES IN RURAL FLORIDA

Program Service Accomplishments

Program 1

HOLD RURAL SUMMIT CONFERENCE TO EXPAND THE DEVELOPMENT AND EXECUTION OF ECONOMIC DEVELOPMENT IN RURAL FLORIDA IN ADDITION TO THE RURAL SUMMIT, THERE WERE 3 STATEWIDE EDUCATIONAL WEBINARS ON KEY RURAL...

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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 (2024)

Revenue Breakdown

Contributions & Grants $45,000

Program Service Revenue $433,186

Investment Income $0

Other Revenue $0

TOTAL REVENUE $478,186

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $532,219

TOTAL EXPENSES $532,219

Year-over-Year Comparison

	2024	2023	Change
Revenue	$478,186	$412,777	+0.2%
Expenses	$532,219	$442,502	+0.2%
Net Income	$-54,033	$-29,725	+0.8%

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

N/A

Volunteers

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
TERRY BURROUGHS	PAST CHAIR	0.50	Officer Director	$0	$0	$0
KEITH DANIELS	DIRECTOR	0.50	Director	$0	$0	$0
DENISE GRIMSLEY	SEC & 1ST VI	0.50	Officer Director	$0	$0	$0
LARRY HARVEY	DIRECTOR	0.50	Director	$0	$0	$0
ANTONIO JEFFERSON	DIRECTOR	0.50	Director	$0	$0	$0
JIMMY NORRIS	DIRECTOR	0.50	Director	$0	$0	$0
SCARLETT PHANEUF	DIRECTOR	0.50	Director	$0	$0	$0
DARRYL REGISTER	CHAIRMAN	0.50	Officer Director	$0	$0	$0
RICHARD WILLIAMS	VICE CHAIR	0.50	Officer Director	$0	$0	$0
JEFF HENDRY	SECRETARY	0.50	Officer	$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
2025	No data	No data	No data	No data
2024	$478,186	$532,219	$274,451	$-54,033
2023	$412,777	$442,502	$212,300	$-29,725
2022	$285,901	$241,211	$242,025	$44,690
2021	$226,012	$83,515	$205,645	$142,497

FLORIDA RURAL ECONOMIC DEVELOPMENT ASSOCIATION INC