Swfbc Enterprises INC

Not tax-deductible

Fort Myers, FLMutual-benefit / member-servingCommunity DevelopmentEIN 27-2140216Revenue $21K in FY2024

On file with the IRSswbcfortmyers.com15271 McGregor Blvd Ste 16 Pmb 291, 33908-1900 · Fort Myers, FLTax-exempt since Mar 2018

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The organization is a title holding company for a qualifying religious organization.

Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $11K a year · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Liabilities
$601K
106% of total assets
Concern: liabilities are 106% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$21K
+255% vs prior year
Spent
$0
Net assets
−$35K
By yearFY2020–FY2024
Revenue
$21K
FY2024▲ +255%
Tap a bar for its year
Revenue by fiscal year
FY2020$17K
FY2021−$8K
FY2022−$26K
FY2023−$13K
FY2024$21K
Expenses
$0
FY2024
Tap a bar for its year
Expenses by fiscal year
FY2020$24K
FY2021$0
FY2022$20K
FY2023$0
FY2024$0
Net assets
−$35K
FY2024▲ +37%
Tap a bar for its year
Net assets by fiscal year
FY2020$11K
FY2021$3K
FY2022−$42K
FY2023−$56K
FY2024−$35K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Exemption reinstated (2013-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Mar 2018.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Warren R Weidner’s $4K as Treasurer is at the 16th percentile of top reported officer pay among 168 <$100K community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2023FY2022FY2021FY2020
Warren R Weidner$4,500$10,800$5,400$5,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Holds title to property for a qualifying religious organization.

Questions for Swfbc Enterprises INC

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Provided by the organization

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1 program · in their own filed words · FY2024
01

SWFBC enterprises, inc. Has been organized for the exclusive purpose of holding title to property, collecting rent from such property, and turning over the entire amount less expenses to the qualifying organization, southwest florida baptist church, inc.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 2 grants · $44K · 2020–2022

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$21K
Ln 12
Investment incomeLn 3$74K
Money outPt IX
$0
Ln 25
Owns and owesPt X
−$35K
net assets · Ln 32
Cash and savingsLn 1–2$133K
Total assetsLn 16$566K
LiabilitiesLn 26$601K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$74K
Gains on assetsLn 7$74K
Total revenueLn 12$21K
Assets in detailPt X, end of year
CashLn 1$133K
Cash and savings togetherLn 1–2$133K
Land, buildings, equipmentLn 10c$140K
Other assetsLn 15$292K
Total assetsLn 16$566K
LiabilitiesLn 26$601K
Net assetsLn 32−$35K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$21K$133K
Land, buildings, equipmentLn 10c$198K$140K
Total assetsLn 16$555K$566K
LiabilitiesLn 26$610K$601K
Net assetsLn 32−$56K−$35K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Total functional expensesLn 25$0$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $21K$0$21K−$35K 990 PDF
FY2023 −$13K$0−$13K−$56K 990 PDF
FY2022 −$26K$20K−$46K−$42K 990 PDF
FY2021 −$8K$0−$8K$3K 990 PDF
FY2020 $17K$24K−$7K$11K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $20,565 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $20,000$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$74,077
I-11 Other revenuePrior year −$33,254−$53,512
I-12 Total revenuePrior year −$13,254$20,565
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $0$0
I-18 Total expensesPrior year $0$0
I-19 Revenue less expensesPrior year −$13,254$20,565
Part VI · Governance 3 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $20,565 across 3 lines filed
VIII-6 Net rental income or lossUnrelated business −$53,512−$53,512
VIII-7 Net gain or loss on sales of assetsUnrelated business $74,077$74,077
VIII-12 Total revenueRelated to mission $0 · Unrelated business $20,565 · Excluded from tax $0$20,565
Part IX · Statement of functional expenses $0 across 0 lines filed
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$0
Part X · Balance sheet $566,162 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $21,327$133,360
X-10c Land, buildings and equipment, netStart of year $198,425$140,371
X-15 Other assetsStart of year $335,119$292,431
X-16 Total assetsStart of year $554,871$566,162
X-25 Other liabilitiesStart of year $610,485$601,211
X-26 Total liabilitiesStart of year $610,485$601,211
X-32 Total net assets or fund balancesStart of year −$55,614−$35,049
X-33 Total liabilities and net assetsStart of year $554,871$566,162
Part XI · Reconciliation of net assets −$35,049 net assets at year end
XI-1 Total revenue$20,565
XI-2 Total expenses$0
XI-3 Revenue less expenses$20,565
XI-4 Net assets at start of year−$55,614
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$35,049

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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