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Wakulla County Economic Development Council INC FY2020 filing

Not tax-deductible

Crawfordville, FL501(c)(6)Since 2017Community Development EIN 82-0768613Revenue $97K in FY2020

On file with the IRSwakullaedc.comPo Box 1605, 32326-1605 · Crawfordville, FLTax-exempt since Dec 2017

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Facilitate sustainable Economic Development and further assist business and commerical interest by leveraging Wakulla county's existing and potential resources, which support business creation, attraction, and expansion. To protect and promote Wakulla county's unique natural resources and quality of life. Increase the number and quality of developable business sites in Wakulla County. Prepare and support the workforce to meet and fill current and new job opportunites. Market Wakulla County globally to businesses and visitors. Support civic and governmental organizations to enhance Wakulla county's Economic well-being. Position Wakulla County edc to be a leading voice for Economic Development.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
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
1 of 4
filings with a surplus
Average surplus $5K a year · 5% of revenue · last 4 filings
Worth a look: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
34 mo
of spending, in cash
Looks good: 33.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
33
of 33 voting members
Looks good: 33 of 33 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$97K
Spent
$42K
To programs
98%
Net assets
$118K
By yearFY2020–FY2024
Revenue
$97K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$97K
FY2021$67K
FY2023$176K
FY2024$118K
FY2024$126K
Expenses
$42K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$42K
FY2021$89K
FY2023$180K
FY2024$126K
FY2024$126K
Net assets
$118K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$118K
FY2021$96K
FY2023$84K
FY2024$77K
FY2024$76K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2017.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $42K Management & general 2% · $713

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
John Shuff
President
$0Pt VII · Sec A
Kevin Vaughn
Vice Preside
$0Pt VII · Sec A
See Wakulla 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

Develops Wakulla County's economy by supporting businesses, workforce, and natural resources.

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Provided by the organization

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1 program · $42K · in their own filed words · FY2020
01

Wakulla edc received a reimbursement grant from enterprise FL. The grant reimbursed the edc for 2019 promotional materials and travel expenses for 3 of the directors who attended the tallahassee chamber retreat late 2019. Edc entered into a contract with wakulla county to hire an edc coorinator.

$42Kprogram 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 · FY2019
Enterprise Florida INCFY2019$6K
Total grants receivedfrom 1 funder$6K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$97K
Ln 12
Gifts and grantsLn 1h$96K
Investment incomeLn 3$531
Money outPt IX
$42K
Ln 25
Programscol B$42K
Managementcol C$713
Owns and owesPt X
$118K
net assets · Ln 32
Cash and savingsLn 1–2$118K
Total assetsLn 16$118K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a33
IndependentVI 1b33
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$96K
Government grantsLn 1e$13K
Investment incomeLn 3$531
Total revenueLn 12$97K
Assets in detailPt X, end of year
CashLn 1$62K
SavingsLn 2$56K
Cash and savings togetherLn 1–2$118K
Total assetsLn 16$118K
LiabilitiesLn 26$0
Net assetsLn 32$118K
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$64K$118K
Total assetsLn 16$64K$118K
LiabilitiesLn 26$0$0
Net assetsLn 32$64K$118K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$200$200
Other fees for servicesLn 11g$33K$33K
Advertising and promotionLn 12$8K$8K
Office expensesLn 13$837$837
InsuranceLn 23$513$513
Total functional expensesLn 25$42K$42K$713$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $118K$126K−$7K$77K 990 PDF
FY2023 $176K$180K−$4K$84K 990 PDF
FY2022 Not on file
FY2021 $67K$89K−$22K$96K 990 PDF
FY2020 Viewing $97K$42K$55K$118K 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 FY2020 990 (6 parts)
Part I · Summary $96,906 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $15,475$96,375
I-9 Program service revenue$0
I-10 Investment incomePrior year $860$531
I-11 Other revenue$0
I-12 Total revenuePrior year $16,335$96,906
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $15,254$42,307
I-18 Total expensesPrior year $15,254$42,307
I-19 Revenue less expensesPrior year $1,081$54,599
Part VI · Governance 33 of 33 board members independent, 3 to look at
VI-1a Voting members of the governing body33
VI-1b Independent voting members33
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $96,906 across 6 lines filed
VIII-1b Membership dues$3,850
VIII-1e Government grants$13,196
VIII-1f All other contributions, gifts and grants$79,329
VIII-1h Total contributions, gifts and grants$96,375
VIII-3 Investment incomeRelated to mission $531$531
VIII-12 Total revenueRelated to mission $531$96,906
Part IX · Statement of functional expenses $42,307 across 5 lines filed
IX-11c Accounting feesManagement $200$200
IX-11g Other fees for servicesPrograms $32,800$32,800
IX-12 Advertising and promotionPrograms $7,957$7,957
IX-13 Office expensesPrograms $837$837
IX-23 InsuranceManagement $513$513
IX-25 Total functional expensesPrograms $41,594 · Management $713 · Fundraising $0$42,307
Part X · Balance sheet $118,332 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $2$61,836
X-2 Savings and temporary cash investmentsStart of year $63,731$56,496
X-16 Total assetsStart of year $63,733$118,332
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $63,733$118,332
X-32 Total net assets or fund balancesStart of year $63,733$118,332
X-33 Total liabilities and net assetsStart of year $63,733$118,332
Part XI · Reconciliation of net assets $118,332 net assets at year end
XI-1 Total revenue$96,906
XI-2 Total expenses$42,307
XI-3 Revenue less expenses$54,599
XI-4 Net assets at start of year$63,733
XI-10 Net assets at end of year$118,332

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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