GREATER ST PETERSBURG AREA ECONOMI… - 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

2016

Legal Domicile

Principal Officer

MICHAEL SWESEY

Phone

7273882912

Tax Period

2023-01-01 to 2023-12-31

GREATER ST PETERSBURG AREA ECONOMIC DEVELOPMENT CORPORATION, founded in 2016, is a small nonprofit in the Community Improvement sector that reported $643K in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year.

Mission

THE GREATER ST. PETERSBURG AREA ECONOMIC DEVELOPMENT CORPORATION("EDC") IS THE "STORYTELLER IN CHIEF" FOR ST. PETERSBURG AS A BUSINESS AND CAREER LOCATION. WE CONNECT BUSINESSES WITH THE PEOPLE AND PROGRAMS THAT WILL HELP THEM GROW.

Program Service Accomplishments

Program 1

THE EDC IS ORGANIZED TO ACHIEVE ADVANCEMENT AND SUPPORT THE RECRUITMENT, FORMATION, EXPANSION AND RETENTION OF QUALITY JOBS AND COMPETITIVE BUSINESSES THAT WILL FOSTER AND MAINTAIN A DIVERSIFIED...

THE EDC IS ORGANIZED TO ACHIEVE ADVANCEMENT AND SUPPORT THE RECRUITMENT, FORMATION, EXPANSION AND RETENTION OF QUALITY JOBS AND COMPETITIVE BUSINESSES THAT WILL FOSTER AND MAINTAIN A DIVERSIFIED, YEAR-ROUND AND SUSTAINABLE ECONOMY PRIMARILY FOR ST. PETERSBURG AND SURROUNDING CITIES AND COMMUNITIES WITHIN PINELLAS COUNTY.ADDITIONALLY, THE EDC SHALL PROMOTE BUSINESS AND COMMUNITY GROWTH AND DEVELOPMENT BY: 1) IMPLEMENTING ECONOMIC DEVELOPMENT PROGRAMS DESIGNED TO STRENGTHEN AND EXPAND THE INCOME POTENTIAL OF ALL EXISTING AND NEW BUSINESSES WITHIN THE TRADE AREA; 2) PROMOTING QUALITY-OF-LIFE PROGRAMS OF A CIVIC, SOCIAL, AND CULTURAL NATURE WHICH ARE DESIGNED TO INCREASE THE FUNCTIONAL AND AESTHETIC VALUES OF THE COMMUNITY AND; 3) DISCOVERING AND CORRECTING ISSUES WHICH PREVENT THE PROMOTION OF BUSINESS EXPANSION AND COMMUNITY GROWTH.

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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 (2023)

Revenue Breakdown

Contributions & Grants $150,000

Program Service Revenue $481,000

Investment Income $11,916

Other Revenue $0

TOTAL REVENUE $642,916

Expense Breakdown

Grants Paid $0

Salaries & Benefits $362,090

Fundraising Expenses $0

Other Expenses $284,430

TOTAL EXPENSES $646,520

Year-over-Year Comparison

	2023	2022	Change
Revenue	$642,916	$713,709	-0.1%
Expenses	$646,520	$730,198	-0.1%
Net Income	$-3,604	$-16,489	-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

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

$136,125

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARCUS GREENE	CHAIR	1.00	Officer Director	$0	$0	$0
BILL KENT	VICE CHAIR	1.00	Officer Director	$0	$0	$0
DANIELLE RUIZ	IMMEDIATE PAST CHAIR	1.00	Officer Director	$0	$0	$0
JOHN MOORE	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
BOB WARCHOLA	GENERAL COUNCIL	1.00	Director	$0	$0	$0
KEN WELCH	MAYOR OF CITY OF ST. PETE	1.00	Director	$0	$0	$0
CHRIS STEINOCHER	GOVERNOR	1.00	Director	$0	$0	$0
BRIAN AULD	GOVERNOR	1.00	Director	$0	$0	$0
SANDRA BRAHAM	GOVERNOR	1.00	Director	$0	$0	$0
JAMES CORBETT	GOVERNOR	1.00	Director	$0	$0	$0
CHUCK CATANESE	GOVERNOR	1.00	Director	$0	$0	$0
RYAN GRIFFIN	GOVERNOR	1.00	Director	$0	$0	$0
KATHY GILLETTE	GOVERNOR	1.00	Director	$0	$0	$0
JASON JENSEN	GOVERNOR	1.00	Director	$0	$0	$0
GREG HOLDEN	GOVERNOR	1.00	Director	$0	$0	$0
MORGAN HOLMES	GOVERNOR	1.00	Director	$0	$0	$0
JASON MATHIS	GOVERNOR	1.00	Director	$0	$0	$0
ANNE MCMULLEN	GOVERNOR	1.00	Director	$0	$0	$0
TONJUA WILLIAMS	GOVERNOR	1.00	Director	$0	$0	$0
NICK HESS	GOVERNOR	1.00	Director	$0	$0	$0
JIM DONATELLI	GOVERNOR	1.00	Director	$0	$0	$0
MICHAEL SWESEY	PRESIDENT & CEO STARTING MAY 2023	40.00	Officer	$48,589	$0	$48,589
JP DUBUQUE	PRESIDENT & CEO THROUGH APRIL 2023	40.00	Officer	$74,454	$13,082	$87,536

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	No data	No data	No data	No data
2023	$642,916	$646,520	$594,299	$-3,604
2022	$713,709	$730,198	$659,173	$-16,489
2021	$643,543	$525,376	$685,074	$118,167
2020	$487,250	$470,926	$572,180	$16,324
2019	$546,293	$506,206	$518,132	$40,087
2018	$472,250	$421,049	$472,658	$51,201

GREATER ST PETERSBURG AREA ECONOMIC DEVELOPMENT CORPORATION