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Hardee County Economic Development Council INC FY2021 filing

Tax-deductible

Wauchula, FL501(c)(3)Since 1996Community Development EIN 65-0704795Revenue $401K in FY2021

On file with the IRShardeebusiness.comPo Box 458, 33873-0458 · Wauchula, FLTax-exempt since Apr 2011Publicly supported charity — 170(b)(1)(A)(vi)

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This organization's primary exempt purpose is to assist with the orderly, progressive Economic diversification of Hardee County, which will ensure a superior quality of life through public and private activities.

501(c)(3) charity; gifts are tax-deductible.
68¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · 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
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
3 of 4
filings with a surplus
Average surplus $101K a year · 12% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$401K
Spent
$407K
To programs
68%
Net assets
$8K
By yearFY2021–FY2025
Revenue
$401K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$401K
FY2022$806K
FY2023$920K
FY2025$1.2M
Expenses
$407K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$407K
FY2022$666K
FY2023$882K
FY2025$945K
Net assets
$8K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$8K
FY2022$148K
FY2023$186K
FY2025$436K

From the FY2021 Form 990 (year ending September 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Apr 2011.

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

Where the money goes

68 cents of each dollar spent went to programs.

Program services 68% · $277K Management & general 32% · $130K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Gene Davis
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Lee Mikell
Director
$0Pt VII · Sec A
Calli Ward
Director
$0Pt VII · Sec A
Thomas Watkins
Vice Chair
$0Pt VII · Sec A
See Hardee County Economic 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

Promotes economic diversification for a better quality of life in Hardee County.

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Provided by the organization

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1 program · $277K · in their own filed words · FY2020
01

This organization's exempt purpose achievement is to maximize the orderly, progressive economic diversification of hardee county to help ensure a superior quality of life.

$277Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$401K
Ln 12
Gifts and grantsLn 1h$387K
Other incomeLn 4–11$14K
Money outPt IX
$407K
Ln 25
Programscol B$277K
Managementcol C$130K
Owns and owesPt X
$8K
net assets · Ln 32
Cash and savingsLn 1–2$5K
Total assetsLn 16$8K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$387K
Government grantsLn 1e$387K
Other incomeLn 4–11$14K
Total revenueLn 12$401K
Assets in detailPt X, end of year
CashLn 1$5K
Cash and savings togetherLn 1–2$5K
Land, buildings, equipmentLn 10c$3K
Total assetsLn 16$8K
LiabilitiesLn 26$0
Net assetsLn 32$8K
OperationsPt I, VI
EmployeesI 510
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 FY21End FY21
Cash and savingsLn 1–2$10K$5K
Land, buildings, equipmentLn 10c$3K$3K
Total assetsLn 16$14K$8K
LiabilitiesLn 26$0$0
Net assetsLn 32$14K$8K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$336K$235K$101K
Office expensesLn 13$24K$16K$8K
OccupancyLn 16$36K$18K$18K
TravelLn 17$917$917
Depreciation, depletion and amortizationLn 22$890$890
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$7K$7K
Total functional expensesLn 25$407K$277K$130K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.2M$945K$233K$436K 990 PDF
FY2024 Not on file
FY2023 $920K$882K$38K$186K 990 PDF
FY2022 $806K$666K$140K$148K 990 PDF
FY2021 Viewing $401K$407K−$6K$8K 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 O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $401,300 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $386,702$387,300
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $10,000$14,000
I-12 Total revenuePrior year $396,702$401,300
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $323,564$335,973
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $61,703$70,961
I-18 Total expensesPrior year $385,267$406,934
I-19 Revenue less expensesPrior year $11,435−$5,634
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $401,300 across 4 lines filed
VIII-1e Government grants$387,300
VIII-1h Total contributions, gifts and grants$387,300
VIII-6 Net rental income or lossExcluded from tax $14,000$14,000
VIII-12 Total revenueExcluded from tax $14,000$401,300
Part IX · Statement of functional expenses $406,934 across 7 lines filed
IX-7 Other salaries and wagesPrograms $235,181 · Management $100,792$335,973
IX-13 Office expensesPrograms $16,040 · Management $8,037$24,077
IX-16 OccupancyPrograms $17,838 · Management $17,839$35,677
IX-17 TravelPrograms $917$917
IX-22 Depreciation, depletion and amortizationManagement $890$890
IX-23 InsuranceManagement $2,701$2,701
IX-24 Other expenses (24a–d)Programs $6,699$6,699
IX-25 Total functional expensesPrograms $276,675 · Management $130,259 · Fundraising $0$406,934
Part X · Balance sheet $8,018 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $10,200$5,456
X-10c Land, buildings and equipment, netStart of year $3,452$2,562
X-16 Total assetsStart of year $13,652$8,018
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $13,652$8,018
X-32 Total net assets or fund balancesStart of year $13,652$8,018
X-33 Total liabilities and net assetsStart of year $13,652$8,018
Part XI · Reconciliation of net assets $8,018 net assets at year end
XI-1 Total revenue$401,300
XI-2 Total expenses$406,934
XI-3 Revenue less expenses−$5,634
XI-4 Net assets at start of year$13,652
XI-10 Net assets at end of year$8,018

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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