Selectflorida INC EIN 93-1995847

Selectflorida INC

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Promotes Florida business growth through international trade, investment, and expansion. For fiscal year 2024 it reported $8.8M in revenue, $8.7M in expenses, and $10.4M in net assets.Pt I

Founded
2023
Type
Public charity (501(c)(3)) · Youth Development
Location
Coral Gables, FL
Website
selectflorida.org
Filings
1 on file (2024–2024)
Revenue
$8.8MFY2024
Expenses
$8.7M
Net assets
$10.4M
People
11
Filings
1
Updates
0
More identity details & actions ⌄
EIN  93-1995847 Public charity (501(c)(3)) Coral Gables, FL Founded 2023
Form 990 (PDF)
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Size
$1–10M
What they do
Promotes Florida business growth through international trade, investment, and expansion.
Leadership
Michael Schiffauer · Senior Vice President (as of 10/9/23) · $122K
Money in and out
$8.8M revenue, $8.7M expenses
Bottom line
91% program efficiency
Where the money goes · FY2024
Total revenue
$8.8M
Pt VIII · Ln 12
Total expenses
$8.7M
Pt IX · Ln 25
Net assets
$10.4M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $55K
Where spending went · Part IX cols B–D
Program services $0.91 Management & general $0.09 Fundraising $0.00
Program efficiency
91%
of spending reaches programs▲ +2% vs prior filing year
Operating runway
13.6mo
months of highly liquid reserves at operating expense rate▼ -59% vs prior filing year
Surplus margin
+0.6%
revenue over expenses, this year▼ -99% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$8.8M
FY2024▼ -38%
Expenses
$8.7M
FY2024▲ +126%
Total assets
$12.4M
FY2024▲ +7%
Total liabilities
$2.0M
FY2024▲ +67%
Total revenue
$8.8M
Pt VIII · Ln 12
Total expenses
$8.7M
Pt IX · Ln 25
Net assets
$10.4M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$55K
Total assetsPt X · Ln 16$12.4M
Program-expense ratioPt IX · col B91%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

3 program services account for $7.7M of program spending, described in the organization's own filed words · FY2024.
01

Selectflorida provides international trade show and trade missions opportunities and support to businesses who seek to generate export sales growth abroad.

$5.6Mprogram expense
02

Selectflorida administers florida's international office program on behalf of the state. The organization manages 17 international office locations and maintains 11 full time contracts. Offices are responsible for providing in country support for florida businesses seeking to expand business opportunities, as well as international…

$2.0Mprogram expense
03

The certificate of free sale is an export document required by importing countries to ensure that products are "freely marketed and sold" here in the us, and generally have no prohibitions to export.

$154Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSelectflorida INC
EINHdr · item D93-1995847
Principal addressHdr · item CCoral Gables, FL
WebsiteHdr · item Jselectflorida.org
Year of formationHdr · item L2023
State of legal domicileHdr · item MFL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFYouth Development (O03)
Ruling yearIRS BMFMay 2024

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Senior Vice President (as of 10/9/23)
$121,883Pt VII · Sec A
VP of International Affairs (as of 10/9/23)
$111,726Pt VII · Sec A
VP of Foreign Direct Investment (as of 10/9/23)
$110,580Pt VII · Sec A
Interim President
$50,887Pt VII · Sec A
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Michael Schiffauer’s $122K as Senior Vice President (as of 10/9/23) is at the 46th percentile of top reported officer pay among 1547 $1–10M youth 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 · 5 named individuals · Part VII

NameFY2024FY2024
Michael Schiffauer$121,883
Fernanda Figueiredo$111,726
Zeljko Kulenovic$110,580
Matthew Swanson$50,887$4,414
Jose a Villamil$12,965

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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Statement of Revenue

Part VIII
Contributions & grants$5.0M · 57%
Program service revenue$3.3M · 38%
Investment income$473K · 5%
Contributions & grants57%$5.0M
Program service revenue38%$3.3M
Investment income5%$473K
— government grantsLn 1e$5.0M
Total revenueLn 12$8.8M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.91 Management & general $0.09 Fundraising $0.00
Program services91%$7.9M
Management & general9%$762K
Fundraising$41K
Total functional expensesLn 25$8.7M

Balance Sheet

Part X · end of year
CashLn 1$9.9M
Total assetsLn 16$12.4M
Total liabilitiesLn 26$2.0M
Total net assetsLn 32$10.4M
Months of cash on handcomputed13.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $9.9M · Operating expenses/yr $8.7M
13.6 months
Where the money goes
Program services
Program services $7.9M · Total expenses $8.7M
91%
Management & General
Management & general $762K · Total expenses $8.7M
9%
Fundraising
Fundraising $41K · Total expenses $8.7M
0.5%
Cost to raise $1
Fundraising expense (2-yr avg) $53K · Solicited contributions (2-yr avg) $3.8M
$0.01 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $5.0M · Total revenue $8.8M
57%
Government reliance
Government grants $5.0M · Total revenue $8.8M
57%
Earned-income share
Program service revenue $3.3M · Total revenue $8.8M
38%
Investment reliance
Investment income $473K · Total revenue $8.8M
+5%
Program self-sufficiency
Program service revenue $3.3M · Total expenses $8.7M
38%
Growth & trend
Revenue growth (YoY)
This year $8.8M · Prior year $14.2M
-38%
Net-asset trend (YoY)
End of year $10.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $8.8M · Expenses $8.7M
+0.6%
Liabilities-to-Assets
Total liabilities — · Total assets $12.4M
Net-asset ratio
Net assets $10.4M · Total assets $12.4M
84%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $12.4M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Michael Schiffauer · Reported title SENIOR VICE PRESIDENT (AS OF 10/9/23) · Highest reported compensation $122K · Total expenses $8.7M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $2.1M · Total expenses $8.7M
24%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 91%
Overhead ratio 9%
Fundraising cost ratio 0.8%
Revenue growth -38%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$10K
Grants paid · 19 grants · $393K · 2023–2024
John Worthington DBA Ibt Online LLCFY2024$32,000
University of West FloridaFY2024$18,500
Modular Thermal Technologies DBA Life Wear Technologies LLCFY2024$15,000
Viewpoint Systems LLCFY2024$10,000
Red Six Aerospace INC DBA Red 6 Defense Systems LLCFY2024$10,000
Rapid Viral Detection SystemsFY2024$10,000
Mci-Medical Concept Innovation INCFY2024$10,000
Loos & Co INCFY2024$10,000
Hc Biologics LLCFY2024$10,000
Global Airservices LLCFY2024$10,000
Gama Medical Florida LLCFY2024$7,240
Telecommunications Support Services INCFY2024$6,720
Organic Farms Vitamins CorpFY2024$6,720
International Medical Industries INCFY2023$181,572
University of West FloridaFY2023$16,500
Advanced Composite Structures Florida LLC DBA United Aero GroupFY2023$10,000
Air Quality Aviation INCFY2023$10,000
Hi-Tech Import Export CorporationFY2023$10,000
See all 19 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$14.2M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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