South Florida Progress Foundation INC

Tax-deductible

Miami, FL501(c)(3)Since 1968EIN 59-6216592

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The Foundation works to leverage its relationship with South Florida professionals and civic leaders to identify top issues, prioritize them through consensus, and then develop and implement solutionsthrough programmatic activity, all funded by member donations, endowments and grants. Through strategic partnerships with local organizations committed to the betterment of South Florida, the effectiveness of and need for the foundation's various initiatives are reviewed and prioritized annually. These initiatives include:1. South Florida quality of life issues:o educationo transportationo expansion and enhancement of cultural offeringso environmental issueso hurricane preparedness and recovery2. Diversity issues3. College scholarships for students interested in pursing careers inbusiness, law or government

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
Run by 9 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
2 of 3
filings with a surplus
Average surplus $13K a year · 5% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 5.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $72K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$2K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$287K
+38% vs prior year
Spent
$276K
To programs
83%
Net assets
$164K
By yearFY2020–FY2024
Revenue
$287K
FY2024▲ +38%
Revenue by fiscal year
FY2020$147K
FY2021$162K
FY2022$220K
FY2023$290K
FY2024$209K
FY2024$287K
Expenses
$276K
FY2024▲ +30%
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022$203K
FY2023$265K
FY2024$213K
FY2024$276K
Net assets
$164K
FY2024▲ +7%
Net assets by fiscal year
FY2020$140K
FY2021$116K
FY2022$133K
FY2023$158K
FY2024$153K
FY2024$164K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1968.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $229K Management & general 17% · $47K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Board Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
See South Florida Progress Foundation 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 15aNo

Programs and updates

Connects leaders to solve South Florida's top issues.

Provided by the organization

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2 program services account for $229K of program spending, described in the organization's own filed words · FY2024.
01

Unrestricted Fund

Supports high quality education for all. This includes development of talent and retention of talent in south florida. The committee seeks to build relationships with professionals and businesses in order to advocate, and seek funding for education causes, as well as seeking to implement these causes to benefit the economic development…

$220Kprogram expense
02

Leadership Miami General Fund

Fund for all programming associated with leadership miami programming. Teams are formed from the participants where each team selects a project thatbenefits the community.

$9Kprogram expense

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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 · FY2024
See all 6 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$287K
Ln 12
Gifts and grantsLn 1h$276K
Other incomeLn 4–11$11K
Investment incomeLn 3$18
Money outPt IX
$276K
Ln 25
Programscol B$229K
Managementcol C$47K
Owns and owesPt X
$164K
net assets · Ln 32
Cash and savingsLn 1–2$123K
Total assetsLn 16$167K
LiabilitiesLn 26$2K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$276K
Investment incomeLn 3$18
Other incomeLn 4–11$11K
Total revenueLn 12$287K
Assets in detailPt X, end of year
CashLn 1$123K
Cash and savings togetherLn 1–2$123K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$167K
LiabilitiesLn 26$2K
Net assetsLn 32$164K
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$152K$123K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$158K$167K
LiabilitiesLn 26$4K$2K
Net assetsLn 32$153K$164K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$9K$9K
Accounting feesLn 11c$29K$29K
Other fees for servicesLn 11g$16K$16K
Office expensesLn 13$315$315
Conferences, conventions and meetingsLn 19$220K$220K
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$276K$229K$47K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $209K$213K−$5K$153K 990 PDF
FY2023 $290K$265K$25K$158K 990 PDF
FY2022 $220K$203K$17K$133K 990 PDF
FY2021 $162K$116K 990 PDF
FY2020 $147K$140K 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 (4 parts)
Part VIII · Statement of revenue $287,131 across 5 lines filed
VIII-1f All other contributions, gifts and grants$276,255
VIII-1h Total contributions, gifts and grants$276,255
VIII-3 Investment incomeExcluded from tax $18$18
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $10,858$10,858
VIII-12 Total revenueRelated to mission $10,858 · Unrelated business $0 · Excluded from tax $18$287,131
Part IX · Statement of functional expenses $276,206 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $8,985$8,985
IX-11c Accounting feesManagement $29,165$29,165
IX-11g Other fees for servicesManagement $15,858$15,858
IX-13 Office expensesManagement $315$315
IX-19 Conferences, conventions and meetingsPrograms $220,432$220,432
IX-24 Other expenses (24a–d)Management $1,451$1,451
IX-25 Total functional expensesPrograms $229,417 · Management $46,789 · Fundraising $0$276,206
Part X · Balance sheet $166,666 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $152,017$122,754
X-4 Accounts receivableStart of year $5,520$43,912
X-10c Land, buildings and equipment, netStart of year $0$0
X-16 Total assetsStart of year $157,537$166,666
X-17 Accounts payable and accrued expensesStart of year $4,296$0
X-19 Deferred revenueStart of year $0$2,500
X-26 Total liabilitiesStart of year $4,296$2,500
X-27 Net assets without donor restrictionsStart of year $52,514$20,827
X-28 Net assets with donor restrictionsStart of year $100,727$143,339
X-32 Total net assets or fund balancesStart of year $153,241$164,166
X-33 Total liabilities and net assetsStart of year $157,537$166,666
Part XI · Reconciliation of net assets $164,166 net assets at year end
XI-1 Total revenue$287,131
XI-2 Total expenses$276,206
XI-3 Revenue less expenses$10,925
XI-4 Net assets at start of year$153,241
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$164,166

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

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