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Central Florida Development Council INC FY2023 filing

Not tax-deductible

Lakeland, FL501(c)(6)EIN 59-2681696Revenue $1.7M in FY2023

On file with the IRScfdc.org1725 Bartow Rd, 33801-6553 · Lakeland, FLTax-exempt since Feb 1987

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To grow an economy based on high-skill, high-wage sustainable businesses

$139K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $150K a year · 10% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$139K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$405K
33% of total assets
Looks good: liabilities are 33% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.7M
+21% vs prior year
Spent
$1.5M
Net assets
$818K
By yearFY2020–FY2025
Revenue
$1.7M
FY2023▲ +21%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$1.4M
FY2022$1.4M
FY2023$1.7M
FY2024$1.6M
FY2025$1.8M
Expenses
$1.5M
FY2023▲ +22%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.2M
FY2021$1.2M
FY2022$1.3M
FY2023$1.5M
FY2024$1.4M
FY2025$1.7M
Net assets
$818K
FY2023▲ +19%
Tap a bar for its year
Net assets by fiscal year
FY2020$403K
FY2021$584K
FY2022$689K
FY2023$818K
FY2024$962K
FY2025$1.1M

From the FY2023 Form 990 (year ending September 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1987.

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

Who runs it and what they're paid

15 people listed on the 990; $139K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Sean Malott
President & CEO
$139,099Pt VII · Sec A
Gene Conrad
Vice Chair
$0Pt VII · Sec A
Dave Shepp
Vice Chair
$0Pt VII · Sec A
Bart Allen
Past Chair
$0Pt VII · Sec A
Todd Dantzler
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Deena Ware
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Sean Malott$167,064$153,274$139,099$152,232$149,093$138,410

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.

See Central Florida Development Council INC executive salaries →

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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 15aYes

Programs and updates

Fosters a sustainable economy by growing high-skill, high-wage businesses.

Questions for Central Florida Development Council INC

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1 program · in their own filed words · FY2022
01

Central florida development council, inc (CFDC) is responsible for recruiting new businesses to polk county and helping existing businesses expand. We focus on domestic and international business recruitment and expansion, business advocacy, and global trade development in central florida's polk county.

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 · received and paid
Grants received · FY2021
Enterprise Florida INCFY2021$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 5 grants · $32K · 2019–2021
Sun N Fun Fly in INCFL · FY2021$6,000
Polk Vision INCFL · FY2020$7,500
Sun N Fun Fly in INCFL · FY2020$6,000
Polk Vision INCFL · FY2019$6,250
Sun N Fun Fly in INCFL · FY2019$6,000

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.7M
Ln 12
Gifts and grantsLn 1h$1.6M
Fees for servicesLn 2g$104K
Investment incomeLn 3$3K
Money outPt IX
$1.5M
Ln 25
Owns and owesPt X
$818K
net assets · Ln 32
Cash and savingsLn 1–2$807K
Total assetsLn 16$1.2M
LiabilitiesLn 26$405K
PeoplePt VI, VII
15
listed · VII A
PaidVII A1
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Government grantsLn 1e$1.2M
Fees for servicesLn 2g$104K
Investment incomeLn 3$3K
Other incomeLn 4–11$1K
Total revenueLn 12$1.7M
Assets in detailPt X, end of year
CashLn 1$431K
SavingsLn 2$376K
Cash and savings togetherLn 1–2$807K
Land, buildings, equipmentLn 10c$77K
Other assetsLn 15$282K
Total assetsLn 16$1.2M
LiabilitiesLn 26$405K
Net assetsLn 32$818K
OperationsPt I, VI
EmployeesI 57
VolunteersI 618
Fiscal year endsHeaderSeptember
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 FY23End FY23
Cash and savingsLn 1–2$675K$807K
Land, buildings, equipmentLn 10c$83K$77K
Total assetsLn 16$837K$1.2M
LiabilitiesLn 26$148K$405K
Net assetsLn 32$689K$818K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$152K
Other salaries and wagesLn 7$468K
Pension plan contributionsLn 8$10K
Other employee benefitsLn 9$55K
Payroll taxesLn 10$44K
Legal feesLn 11b$201
Accounting feesLn 11c$25K
Other fees for servicesLn 11g$8K
Advertising and promotionLn 12$239K
Office expensesLn 13$35K
Information technologyLn 14$11K
OccupancyLn 16$69K
TravelLn 17$8K
Conferences, conventions and meetingsLn 19$304K
Depreciation, depletion and amortizationLn 22$27K
InsuranceLn 23$3K
Other expenses (24a–d)Ln 24$74K
Total functional expensesLn 25$1.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.8M$1.7M$105K$1.1M 990 PDF
FY2024 $1.6M$1.4M$144K$962K 990 PDF
FY2023 Viewing $1.7M$1.5M$129K$818K 990 PDF
FY2022 $1.4M$1.3M$116K$689K 990 PDF
FY2021 $1.4M$1.2M$186K$584K 990 PDF
FY2020 $1.4M$1.2M$223K$403K 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 FY2023 990 (6 parts)
Part I · Summary $1,661,102 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,371,677$1,552,527
I-9 Program service revenuePrior year $180$104,030
I-10 Investment incomePrior year $203$3,245
I-11 Other revenuePrior year $1,175$1,300
I-12 Total revenuePrior year $1,373,235$1,661,102
I-13 Grants and similar amounts paidPrior year $31,282$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $675,629$730,037
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $550,753$802,456
I-18 Total expensesPrior year $1,257,664$1,532,493
I-19 Revenue less expensesPrior year $115,571$128,609
Part VI · Governance 14 of 14 board members independent, 2 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,661,102 across 8 lines filed
VIII-1b Membership dues$347,190
VIII-1e Government grants$1,161,284
VIII-1f All other contributions, gifts and grants$44,053
VIII-1h Total contributions, gifts and grants$1,552,527
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $104,030$104,030
VIII-3 Investment incomeExcluded from tax $3,245$3,245
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,300$1,300
VIII-12 Total revenueRelated to mission $104,030 · Unrelated business $0 · Excluded from tax $4,545$1,661,102
Part IX · Statement of functional expenses $1,532,493 across 17 lines filed
IX-5 Pay of current officers, directors and key staff$152,005
IX-7 Other salaries and wages$468,364
IX-8 Pension plan contributions$9,879
IX-9 Other employee benefits$55,389
IX-10 Payroll taxes$44,400
IX-11b Legal fees$201
IX-11c Accounting fees$24,730
IX-11g Other fees for services$7,640
IX-12 Advertising and promotion$238,897
IX-13 Office expenses$34,573
IX-14 Information technology$11,038
IX-16 Occupancy$69,190
IX-17 Travel$7,715
IX-19 Conferences, conventions and meetings$303,990
IX-22 Depreciation, depletion and amortization$26,805
IX-23 Insurance$3,213
IX-24 Other expenses (24a–d)$74,464
IX-25 Total functional expenses$1,532,493
Part X · Balance sheet $1,223,085 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $505,752$430,897
X-2 Savings and temporary cash investmentsStart of year $169,224$375,810
X-4 Accounts receivableStart of year $5,000$15,000
X-9 Prepaid expenses and deferred chargesStart of year $70,496$42,575
X-10c Land, buildings and equipment, netStart of year $82,867$76,755
X-15 Other assetsStart of year $3,394$282,048
X-16 Total assetsStart of year $836,733$1,223,085
X-17 Accounts payable and accrued expensesStart of year $57,443$75,162
X-19 Deferred revenueStart of year $80,187$47,708
X-25 Other liabilitiesStart of year $9,922$282,425
X-26 Total liabilitiesStart of year $147,552$405,295
X-27 Net assets without donor restrictionsStart of year $519,957$642,490
X-28 Net assets with donor restrictionsStart of year $169,224$175,300
X-32 Total net assets or fund balancesStart of year $689,181$817,790
X-33 Total liabilities and net assetsStart of year $836,733$1,223,085
Part XI · Reconciliation of net assets $817,790 net assets at year end
XI-1 Total revenue$1,661,102
XI-2 Total expenses$1,532,493
XI-3 Revenue less expenses$128,609
XI-4 Net assets at start of year$689,181
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$817,790

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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