Florida Business Development Corporation: Nonprofit Profile, Financials & Form 990 (EIN 65-0179159)

William R Habermeyer’s $550K as President and Treasurer is at the 82nd percentile of top reported officer pay among 572 $10–100M 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 · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
William R Habermeyer	$550,000	$550,000	$515,625	$510,417	$475,000	$440,500
Robert Zinkil	$425,433	$367,717	$354,005	$339,017	$317,893	$267,400
Mark W Mayhew	$388,533	$357,100	$397,946	$361,979	$321,487	$282,425
Cory W Stewart	$388,941	$304,152	$293,383	$303,923	$272,258	$223,549
Armando J Martinez	$359,436	$242,418	$204,265	$245,823	$160,539	$144,678
Daniel F Martinez	$237,858	$219,447	$293,963	$270,503	$248,787	$213,750
Charles B Butler	$268,730	$288,401	$226,886	$203,018	$183,223	$156,100
Dana M Albury	$250,977	$244,250	$228,368	$218,961	$207,879	$162,678

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 15aYes

Programs and updates

Helps growing small businesses get loans through SBA programs.

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Provided by the organization

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1 program · $11.8M · in their own filed words · FY2024

01

The corporation is approved by the sba as a section 504 certified development corporation. Financial assistance and long-term financing are provided to businesses to retain and create jobs and build the local economy.

$11.8Mprogram expense

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 · 36 grants · $2.5M · 2019–2024

North Pinellas Advocates for Racial Equity (npare)FL · FY2024$75,000

Foundation for Community Driven Innovation INCFL · FY2024$75,000

State College of Florida Foundation INCFL · FY2024$75,000

Hispanic Business Initiative Fund of Florida INCFL · FY2024$75,000

Greater Tampa Chamber of Commerce Foundation INCFL · FY2024$75,000

Tampa Bay Innovation Hub INCFL · FY2024$75,000

Arsenal Place INCAL · FY2024$50,000

The Center for Technology Enterprise and Development INCFL · FY2024$25,000

National Association of Development CompaniesMD · FY2024$10,000

State College of Florida Foundation INCFL · FY2023$62,500

Rollins CollegeFL · FY2023$62,500

Soaring City P INCFL · FY2023$62,500

Hispanic Business Initiative Fund of Florida INCFL · FY2023$62,500

The Center for Technology Enterprise and Development INCFL · FY2023$62,500

Greater Tampa Chamber of Commerce Foundation INCFL · FY2023$62,500

Tampa Bay Innovation Hub INCFL · FY2023$62,500

Tampa Bay Wave INCFL · FY2023$62,500

Hispanic Business Initiative Fund of Florida INCFL · FY2022$100,000

See all 36 grants →

By the numbers

The FY2025 990, line by line.

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1The main four

Money inPt VIII

$15.8M

Ln 12

Fees for servicesLn 2g$15.3M

Investment incomeLn 3$329K

Other incomeLn 4–11$165K

Money outPt IX

$13.8M

Ln 25

Programscol B$11.8M

Managementcol C$2.0M

Owns and owesPt X

$37.9M

net assets · Ln 32

Cash and savingsLn 1–2$9.4M

Total assetsLn 16$40.0M

LiabilitiesLn 26$2.1M

PeoplePt VI, VII

41

listed · VII A

PaidVII A41

Voting boardVI 1a13

IndependentVI 1b12

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$15.3M

Investment incomeLn 3$329K

Other incomeLn 4–11$165K

Total revenueLn 12$15.8M

Assets in detailPt X, end of year

CashLn 1$9.1M

SavingsLn 2$282K

Cash and savings togetherLn 1–2$9.4M

InvestmentsLn 11–13$28.9M

Land, buildings, equipmentLn 10c$0

Other assetsLn 15$56K

Total assetsLn 16$40.0M

LiabilitiesLn 26$2.1M

Net assetsLn 32$37.9M

OperationsPt I, VI

EmployeesI 549

VolunteersI 615

Fiscal year endsHeaderSeptember

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$6.7M	$9.4M
InvestmentsLn 11–13	$29.9M	$28.9M
Land, buildings, equipmentLn 10c	$4K	$0
Total assetsLn 16	$38.3M	$40.0M
LiabilitiesLn 26	$2.4M	$2.1M
Net assetsLn 32	$35.9M	$37.9M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$740K	$740K
Other salaries and wagesLn 7	$8.1M	$6.9M	$1.2M
Pension plan contributionsLn 8	$1.3M	$1.1M	$201K
Other employee benefitsLn 9	$1.0M	$851K	$150K
Payroll taxesLn 10	$490K	$417K	$74K
Legal feesLn 11b	$215K	$183K	$32K
Accounting feesLn 11c	$145K	$123K	$22K
Other fees for servicesLn 11g	$102K	$86K	$15K
Office expensesLn 13	$595K	$506K	$89K
OccupancyLn 16	$263K	$223K	$39K
TravelLn 17	$120K	$102K	$18K
Conferences, conventions and meetingsLn 19	$273K	$232K	$41K
InterestLn 20	$6	$5	$1
Depreciation, depletion and amortizationLn 22	$4K	$3K	$585
InsuranceLn 23	$61K	$52K	$9K
Other expenses (24a–d)Ln 24	$307K	$261K	$46K
Total functional expensesLn 25	$13.8M	$11.8M	$2.0M	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$15.8M	$13.8M	$2.1M	$37.9M	990 PDF
FY2024	$14.6M	$12.6M	$2.0M	$35.9M	990 PDF
FY2023	$13.4M	$11.2M	$2.1M	$33.9M	990 PDF
FY2022	$11.4M	$10.8M	$556K	$31.8M	990 PDF
FY2021	$9.6M	$10.0M	−$365K	$31.2M	990 PDF
FY2020	$9.4M	$9.1M	$320K	$31.6M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $15,826,625 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $13,979,160$15,332,246

I-10 Investment incomePrior year $291,765$329,397

I-11 Other revenuePrior year $303,583$164,982

I-12 Total revenuePrior year $14,574,508$15,826,625

I-13 Grants and similar amounts paidPrior year $596,540$739,839

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $9,838,789$10,928,113

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $2,164,455$2,084,558

I-18 Total expensesPrior year $12,599,784$13,752,510

I-19 Revenue less expensesPrior year $1,974,724$2,074,115

Part VI · Governance 12 of 13 board members independent, no flags

VI-1a Voting members of the governing body13

VI-1b Independent voting members12

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $15,826,625 across 5 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $15,332,246$15,332,246

VIII-3 Investment incomeRelated to mission $329,397$329,397

VIII-6 Net rental income or lossRelated to mission $74,420$74,420

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $90,562$90,562

VIII-12 Total revenueRelated to mission $15,826,625 · Unrelated business $0 · Excluded from tax $0$15,826,625

Part IX · Statement of functional expenses $13,752,510 across 16 lines filed

IX-1 Grants to domestic organizationsPrograms $739,839$739,839

IX-7 Other salaries and wagesPrograms $6,882,935 · Management $1,214,636$8,097,571

IX-8 Pension plan contributionsPrograms $1,138,455 · Management $200,904$1,339,359

IX-9 Other employee benefitsPrograms $850,798 · Management $150,141$1,000,939

IX-10 Payroll taxesPrograms $416,707 · Management $73,537$490,244

IX-11b Legal feesPrograms $182,988 · Management $32,292$215,280

IX-11c Accounting feesPrograms $123,121 · Management $21,727$144,848

IX-11g Other fees for servicesPrograms $86,375 · Management $15,243$101,618

IX-13 Office expensesPrograms $505,796 · Management $89,258$595,054

IX-16 OccupancyPrograms $223,194 · Management $39,387$262,581

IX-17 TravelPrograms $101,804 · Management $17,965$119,769

IX-19 Conferences, conventions and meetingsPrograms $232,383 · Management $41,009$273,392

IX-20 InterestPrograms $5 · Management $1$6

IX-22 Depreciation, depletion and amortizationPrograms $3,315 · Management $585$3,900

IX-23 InsurancePrograms $51,523 · Management $9,092$60,615

IX-24 Other expenses (24a–d)Programs $261,371 · Management $46,124$307,495

IX-25 Total functional expensesPrograms $11,800,609 · Management $1,951,901 · Fundraising $0$13,752,510

Part X · Balance sheet $40,009,716 assets, 15 lines filed

X-1 Cash, non-interest-bearingStart of year $6,116,201$9,121,007

X-2 Savings and temporary cash investmentsStart of year $588,520$282,427

X-4 Accounts receivableStart of year $1,682,591$1,699,986

X-10c Land, buildings and equipment, netStart of year $3,901$0

X-11 Publicly traded securitiesStart of year $11,974,936$10,799,542

X-12 Other securitiesStart of year $2,983,000$2,693,000

X-13 Program-related investmentsStart of year $14,892,808$15,357,526

X-15 Other assetsStart of year $53,520$56,228

X-16 Total assetsStart of year $38,295,477$40,009,716

X-17 Accounts payable and accrued expensesStart of year $1,422,725$1,494,272

X-25 Other liabilitiesStart of year $1,015,235$583,812

X-26 Total liabilitiesStart of year $2,437,960$2,078,084

X-27 Net assets without donor restrictionsStart of year $35,857,517$37,931,632

X-32 Total net assets or fund balancesStart of year $35,857,517$37,931,632

X-33 Total liabilities and net assetsStart of year $38,295,477$40,009,716

Part XI · Reconciliation of net assets $37,931,632 net assets at year end

XI-1 Total revenue$15,826,625

XI-2 Total expenses$13,752,510

XI-3 Revenue less expenses$2,074,115

XI-4 Net assets at start of year$35,857,517

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$37,931,632

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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Florida Business Development Corporation

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