Nassau County Economic Development Board INC

Tax-deductible

Yulee, FL501(c)(3)Civil Rights & AdvocacyEIN 59-3293246Revenue $351K in FY2024

On file with the IRSnassauflorida.com76346 William Burgess Blvd, 32097-5447 · Yulee, FLTax-exempt since Jun 1997Publicly supported charity — 170(b)(1)(A)(vi)

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Commitment to support opportunities across Nassau County to sustain, expand, and diversify Economic prosperity.

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
$79K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
4 of 5
filings with a surplus
Average surplus $22K a year · 7% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
75%
of spending
Fine: 75% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$79K
to officers and key staff · 24% of spending
Top officer’s pay higher than 56% of similar orgs
Worth a look: pay to officers and key staff is 24% of spending; over 20%.
Pt VII · Sec A
Cash reserves
11 mo
of spending, in cash
Looks good: 10.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $10K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$16K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$351K
+26% vs prior year
Spent
$324K
To programs
75%
Net assets
$295K
By yearFY2020–FY2024
Revenue
$351K
FY2024▲ +26%
Tap a bar for its year
Revenue by fiscal year
FY2020$294K
FY2021$329K
FY2022$297K
FY2023$279K
FY2024$351K
Expenses
$324K
FY2024▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$236K
FY2021$275K
FY2022$287K
FY2023$320K
FY2024$324K
Net assets
$295K
FY2024▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$244K
FY2021$298K
FY2022$309K
FY2023$269K
FY2024$295K

From the FY2024 Form 990 (year ending September 2024) · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1997.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $243K Management & general 25% · $81K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

26 people listed on the 990; $79K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Di
$78,750Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Sherri Mitchell’s $79K as Executive Di is at the 56th percentile of top reported officer pay among 1031 $100K–1M civil rights & advocacy 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 · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Sherri Mitchell$78,750$75,000$75,000$69,100$50,075
Laura Dibella————$29,726

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 Nassau County Economic Development Board 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

Supports opportunities to sustain, expand, and diversify economic prosperity in Nassau County.

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Provided by the organization

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1 program · $243K · in their own filed words · FY2023
01

Promoted nassau county to potential businesses looking to relocate and expand.

$243Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2022
Total grants receivedfrom 2 funders$10K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$351K
Ln 12
Gifts and grantsLn 1h$350K
Investment incomeLn 3$995
Money outPt IX
$324K
Ln 25
Programscol B$243K
Managementcol C$81K
Owns and owesPt X
$295K
net assets · Ln 32
Cash and savingsLn 1–2$295K
Total assetsLn 16$311K
LiabilitiesLn 26$16K
PeoplePt VI, VII
26
listed · VII A
PaidVII A1
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$350K
Government grantsLn 1e$161K
Investment incomeLn 3$995
Total revenueLn 12$351K
Assets in detailPt X, end of year
CashLn 1$112K
SavingsLn 2$183K
Cash and savings togetherLn 1–2$295K
Total assetsLn 16$311K
LiabilitiesLn 26$16K
Net assetsLn 32$295K
OperationsPt I, VI
EmployeesI 54
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 FY24End FY24
Cash and savingsLn 1–2$257K$295K
Total assetsLn 16$270K$311K
LiabilitiesLn 26$1K$16K
Net assetsLn 32$269K$295K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$79K$59K$20K
Other salaries and wagesLn 7$90K$68K$23K
Payroll taxesLn 10$13K$10K$3K
Other fees for servicesLn 11g$79K$60K$20K
Advertising and promotionLn 12$13K$10K$3K
Office expensesLn 13$3K$3K$872
TravelLn 17$2K$2K$585
Conferences, conventions and meetingsLn 19$27K$20K$7K
InsuranceLn 23$2K$2K$513
Other expenses (24a–d)Ln 24$14K$11K$4K
Total functional expensesLn 25$324K$243K$81K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $351K$324K$26K$295K 990 PDF
FY2023 $279K$320K−$40K$269K 990 PDF
FY2022 $297K$287K$11K$309K 990 PDF
FY2021 $329K$275K$54K$298K 990 PDF
FY2020 $294K$236K$58K$244K 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 $350,722 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $278,527$349,727
I-9 Program service revenue$0
I-10 Investment incomePrior year $799$995
I-11 Other revenue$0
I-12 Total revenuePrior year $279,326$350,722
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $167,638$182,019
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $151,884$142,214
I-18 Total expensesPrior year $319,522$324,233
I-19 Revenue less expensesPrior year −$40,196$26,489
Part VI · Governance 21 of 21 board members independent, 2 to look at
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
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 $350,722 across 5 lines filed
VIII-1e Government grants$161,477
VIII-1f All other contributions, gifts and grants$188,250
VIII-1h Total contributions, gifts and grants$349,727
VIII-3 Investment incomeExcluded from tax $995$995
VIII-12 Total revenueExcluded from tax $995$350,722
Part IX · Statement of functional expenses $324,233 across 10 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $59,063 · Management $19,688$78,751
IX-7 Other salaries and wagesPrograms $67,696 · Management $22,566$90,262
IX-10 Payroll taxesPrograms $9,754 · Management $3,252$13,006
IX-11g Other fees for servicesPrograms $59,578 · Management $19,859$79,437
IX-12 Advertising and promotionPrograms $9,941 · Management $3,314$13,255
IX-13 Office expensesPrograms $2,615 · Management $872$3,487
IX-17 TravelPrograms $1,755 · Management $585$2,340
IX-19 Conferences, conventions and meetingsPrograms $20,404 · Management $6,802$27,206
IX-23 InsurancePrograms $1,537 · Management $513$2,050
IX-24 Other expenses (24a–d)Programs $10,829 · Management $3,610$14,439
IX-25 Total functional expensesPrograms $243,172 · Management $81,061 · Fundraising $0$324,233
Part X · Balance sheet $311,360 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $55,230$112,063
X-2 Savings and temporary cash investmentsStart of year $201,802$182,797
X-4 Accounts receivableStart of year $13,150$16,500
X-16 Total assetsStart of year $270,182$311,360
X-17 Accounts payable and accrued expensesStart of year $1,376$16,065
X-26 Total liabilitiesStart of year $1,376$16,065
X-27 Net assets without donor restrictionsStart of year $268,806$295,295
X-32 Total net assets or fund balancesStart of year $268,806$295,295
X-33 Total liabilities and net assetsStart of year $270,182$311,360
Part XI · Reconciliation of net assets $295,295 net assets at year end
XI-1 Total revenue$350,722
XI-2 Total expenses$324,233
XI-3 Revenue less expenses$26,489
XI-4 Net assets at start of year$268,806
XI-10 Net assets at end of year$295,295

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

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