Civic Intelligence

Winter Haven Economic Development

990 • Fiscal year 2020 • EIN 45-3154152

Oct 01, 2019 to Sep 30, 2020 • Filed on Dec 28, 2020

Organization ProfileWWW.WHEDC.COM
150 Third Street SW Suite 206Winter Haven, FL 33880

(863) 837-5280

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

84th percentile

0.29x

Higher debt load relative to assets than 84% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

84th percentile

0.29x

Higher debt load relative to revenue than 84% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Net Margin

40th percentile

-2.5%

Higher net margin than 40% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Top Officer Pay

98th percentile

$140,611

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 47.6% of source-year revenue.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Asset Growth

48th percentile

1.9%

Faster asset growth than 48% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

73rd percentile

-2.5%

Faster revenue growth than 73% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$297,674

Up $5,508 (+1.9%) from 2019

Net Assets

Down

$212,438

Down $7,441 (-3.4%) from 2019

Liabilities

Up

$85,236

Up $12,949 (+18%) from 2019

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin40th percentile

Revenue

Down

$295,313

Down $7,581 (-2.5%) from 2019

Expenses

Up

$302,754

Up $22,496 (+8.0%) from 2019

Net Income

Down

-$7,441

Down $30,077 (-133%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth48th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800K$600K$400K$200K$0Assets 2012: $84,677Liabilities 2012: $37,514Net Assets 2012: $47,1632012Assets 2013: $111,311Liabilities 2013: $24,176Net Assets 2013: $87,1352013Assets 2014: $135,126Liabilities 2014: $47,825Net Assets 2014: $87,3012014Assets 2015: $175,133Liabilities 2015: $57,606Net Assets 2015: $117,5272015Assets 2016: $230,652Liabilities 2016: $91,646Net Assets 2016: $139,0062016Assets 2017: $249,085Liabilities 2017: $70,322Net Assets 2017: $178,7632017Assets 2018: $268,293Liabilities 2018: $71,050Net Assets 2018: $197,2432018Assets 2019: $292,166Liabilities 2019: $72,287Net Assets 2019: $219,8792019Assets 2020: $297,674Liabilities 2020: $85,236Net Assets 2020: $212,4382020Assets 2021: $342,345Liabilities 2021: $82,410Net Assets 2021: $259,9352021Assets 2022: $363,508Liabilities 2022: $82,054Net Assets 2022: $281,4542022Assets 2023: $440,480Liabilities 2023: $93,947Net Assets 2023: $346,5332023Assets 2024: $519,560Liabilities 2024: $109,528Net Assets 2024: $410,0322024Assets 2025: $610,841Liabilities 2025: $122,489Net Assets 2025: $488,3522025

Highlighted filing

2020

Assets$297,674
Liabilities$85,236
Net Assets$212,438
Open 2020 Filing

Operations Trend

Revenue Growth73rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KExpenses 2012: $183,6872012Expenses 2013: $214,0332013Revenue 2014: $223,415Expenses 2014: $223,249Net Income 2014: $1662014Revenue 2015: $324,704Expenses 2015: $294,478Net Income 2015: $30,2262015Revenue 2016: $294,198Expenses 2016: $272,719Net Income 2016: $21,4792016Revenue 2017: $310,268Expenses 2017: $270,511Net Income 2017: $39,7572017Revenue 2018: $285,790Expenses 2018: $267,310Net Income 2018: $18,4802018Revenue 2019: $302,894Expenses 2019: $280,258Net Income 2019: $22,6362019Revenue 2020: $295,313Expenses 2020: $302,754Net Income 2020: -$7,4412020Revenue 2021: $303,850Expenses 2021: $256,353Net Income 2021: $47,4972021Revenue 2022: $384,171Expenses 2022: $362,652Net Income 2022: $21,5192022Revenue 2023: $471,163Expenses 2023: $406,084Net Income 2023: $65,0792023Revenue 2024: $541,581Expenses 2024: $478,083Net Income 2024: $63,4982024Revenue 2025: $589,058Expenses 2025: $510,738Net Income 2025: $78,3202025

Highlighted filing

2020

Revenue$295,313
Expenses$302,754
Net Income-$7,441
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Dec 28, 2020
Return Version
2019v5.0
Gross Receipts
$295,313
Mission and Program Overview

Mission

Our mission is to assist the public and private sector to grow a resilient, inclusive, and equitable economy in winter haven. The whedc occupies a unique position in winter haven, working for the benefit of community and economic growth. The whedc staff and investors use our vision and technical expertise to assist the community and whedc stakeholders with growth, engagement, collaboration, guidance, and vision.

Creating high quality jobs through the expansion of existing businesses and industry and by attracting new businesses and industry to the winter haven area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$238,162$272,656▲ $34,494
Pledges and Grants Receivable$49,925$19,925▼ $30,000
Land, Buildings, and Equipment, Net$3,084$4,237▲ $1,153
Prepaid Expenses and Deferred Charges$995$856▼ $139
Total Assets$292,166$297,674▲ $5,508
Liabilities
Deferred Revenue$58,750$60,834▲ $2,084
Accounts Payable and Accrued Expenses$13,537$24,402▲ $10,865
Total Liabilities$72,287$85,236▲ $12,949
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$215,453$208,012▼ $7,441
Net Assets With Donor Restrictions$4,426$4,426→ $0
Total Net Assets Fund Balance$219,879$212,438▼ $7,441
Total Liabilities and Net Assets / Fund Balance$292,166$297,674▲ $5,508

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,237$5,824-
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleBaseTotal
Nicole IrbySecretary$140,611$140,611

Board Members and Trustees

NameTitle
Mark TurnerChair
Greg LittletonImmediate Past Chair
Bruce LyonPresident/CEO
Steven EliasVice Chair
Stephen NiermanVice Chairman
Alex JordanDirector
Alex NikdelDirector
Angela Garcia FalconettiDirector
Anita StrangDirector
Ann ClaussenDirector
Baxter TroutmanDirector
Bryan KarskyDirector
Bud StrangDirector
Cathy KluytenaarDirector
Eric LabbeDirector
Erin KillebrewDirector
Ingram LeedyDirector
Jake CrewsDirector
Jeff KincartDirector
Jose RiveraDirector
Katie W DeckerDirector
Kevin AshleyDirector
Larry D TuckerDirector
Maggie MariucciDirector
Martha SantiagoDirector
Nat BirdsongDirector
Rex JacksonDirector
Ryan WhiteheadDirector
Steve BoyingtonDirector
Nick PlottTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$137,207
Program Service Revenue
$157,917
Investment Income
$189
Other Revenue
$0
Change in Net Assets
$-7,441
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$218,949
Other Expenses$78,805
Grants and Similar Amounts Paid$5,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$140,611
Other Salaries and Wages---$57,790
Fees for Services Other---$33,075
All Other Expenses---$19,484
Payroll Taxes---$14,822
Occupancy---$12,430
Other Employee Benefits---$5,726
Fees for Services Accounting---$5,123
Grants to Domestic Orgs---$5,000
Insurance---$3,032
Advertising---$2,683
Office Expenses---$1,673
Depreciation Depletion---$935
Other Expenses---$205
Total Functional Expenses$0$0$0$302,754
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes
Filing and Contact Details

Filer

Filer Name
Winter Haven Economic Development
EIN
45-3154152
Phone
8638375280
Address
150 THIRD STREET SW SUITE 206, WINTER HAVEN, FL 33880
Doing Business As
Council Inc

Signing Officer

Name
Bruce Lyon
Title
President
Phone
8632943568
Signed
2020-12-28

Organization Details

Principal Officer
Bruce Lyon
Formed
2011
Voting Board Members
30
Independent Board Members
30
Employees
2

Preparer

Firm
Thomas E Jennings & Company Cpapa
Address
TWO EAST LAKE HOWARD DRIVE, WINTER HAVEN, FL 33881
Preparer
Thomas E Jennings CPA
Phone
8632943568
Supplemental Narrative

Additional Explanations

Part 6, Line 3

“An executive committee is appointed by the board to run the organization.”

Part 6, Line 11B

“The form 990 is reviewed by the executive committee prior to being filed.”

Part 6, Line 12C

“The board discloses any relationships by filling out a conflict of interest form by members on an annual basis.”

Part 6, Line 15

“The president's salary is based upon a range and framework given by the consulting group that did the feasibility study for the creation of the organization. It is reviewed and approved by the board of directors.”

Part 6, Line 19

“Governing documents and financial statements are made available upon request.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0CREATING HIGH QUALITY JOBS THROUGH THE EXPANSION OF EXISTING BUSINESSES AND INDUSTRY AND BY ATTRACTING NEW BUSINESSES AND INDUSTRY TO THE WINTER HAVEN AREA.
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IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0219879
IRS990/NetAssetsOrFundBalancesEOYAmt0212438
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0215453
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0208012
IRS990/NondeductibleContributionsInd01
IRS990/NondeductibleContriDisclInd01
IRS990/OccupancyGrp/TotalAmt012430
IRS990/OfficeExpensesGrp/TotalAmt01673
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherEmployeeBenefitsGrp/TotalAmt05726
IRS990/OtherExpensesGrp/Desc0POSTAGE AND DELIVERY
IRS990/OtherExpensesGrp/Desc1AUTO MILEAGE
IRS990/OtherExpensesGrp/Desc2DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/TotalAmt042
IRS990/OtherExpensesGrp/TotalAmt1123
IRS990/OtherExpensesGrp/TotalAmt2205
IRS990/OtherSalariesAndWagesGrp/TotalAmt057790
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/TotalAmt014822
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt049925
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt019925
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0995
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0856
IRS990/PrincipalOfficerNm0BRUCE LYON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0926110
IRS990/ProgramServiceRevenueGrp/Desc0BOARD MEMBER DUES
IRS990/ProgramServiceRevenueGrp/ExclusionAmt0157917
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0157917
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYContributionsGrantsAmt0151414
IRS990/PYGrantsAndSimilarPaidAmt05000
IRS990/PYInvestmentIncomeAmt0230
IRS990/PYOtherExpensesAmt066460
IRS990/PYProgramServiceRevenueAmt0151250
IRS990/PYRevenuesLessExpensesAmt022636
IRS990/PYSalariesCompEmpBnftPaidAmt0208798
IRS990/PYTotalExpensesAmt0280258
IRS990/PYTotalRevenueAmt0302894
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-7441
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/OnlyInHouseLobbyingInd01
IRS990ScheduleC/SubstantiallyAllDuesNondedInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt04237
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05824
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt010061
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04237
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AN EXECUTIVE COMMITTEE IS APPOINTED BY THE BOARD TO RUN THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE EXECUTIVE COMMITTEE PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD DISCLOSES ANY RELATIONSHIPS BY FILLING OUT A CONFLICT OF INTEREST FORM BY MEMBERS ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PRESIDENT'S SALARY IS BASED UPON A RANGE AND FRAMEWORK GIVEN BY THE CONSULTING GROUP THAT DID THE FEASIBILITY STUDY FOR THE CREATION OF THE ORGANIZATION. IT IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part 6, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part 6, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part 6, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Part 6, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Part 6, Line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd01
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0292166
IRS990/TotalAssetsEOYAmt0297674
IRS990/TotalAssetsGrp/BOYAmt0292166
IRS990/TotalAssetsGrp/EOYAmt0297674
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0137207
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/TotalAmt0302754
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt072287
IRS990/TotalLiabilitiesEOYAmt085236
IRS990/TotalLiabilitiesGrp/BOYAmt072287
IRS990/TotalLiabilitiesGrp/EOYAmt085236
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0219879
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0212438
IRS990/TotalProgramServiceRevenueAmt0157917
IRS990/TotalReportableCompFromOrgAmt0140611
IRS990/TotalRevenueGrp/ExclusionAmt0158106
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0295313
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0292166
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0297674
IRS990/TransactionWithControlEntInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0150 THIRD STREET SW SUITE 206
IRS990/USAddress/CityNm0WINTER HAVEN
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033880
IRS990/VotingMembersGoverningBodyCnt030
IRS990/VotingMembersIndependentCnt030
IRS990/WebsiteAddressTxt0WWW.WHEDC.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BRUCE LYON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08632943568
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-12-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WINTER HAVEN ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessNameControlTxt0WINT
ReturnHeader/Filer/EIN0453154152
ReturnHeader/Filer/PhoneNum08638375280
ReturnHeader/Filer/USAddress/AddressLine1Txt0150 THIRD STREET SW SUITE 206
ReturnHeader/Filer/USAddress/CityNm0WINTER HAVEN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033880
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0592136691
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THOMAS E JENNINGS & COMPANY CPAPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0TWO EAST LAKE HOWARD DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WINTER HAVEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033881
ReturnHeader/PreparerPersonGrp/PhoneNum08632943568
ReturnHeader/PreparerPersonGrp/PreparationDt02020-12-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THOMAS E JENNINGS CPA
ReturnHeader/ReturnTs02021-01-21T16:08:26-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-10-01
ReturnHeader/TaxPeriodEndDt02020-09-30
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$297,674
Liabilities
$85,236
Net assets
$212,438
Revenue
$295,313
Expenses
$302,754
Net income
-$7,441
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.11$1.22$4.88$5.89$5.11$0.78
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.20$1.10$4.10$5.42$4.78$0.63
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.40$0.94$3.47$4.71$4.06$0.65
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.64$0.82$2.81$3.84$3.63$0.22
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.42$0.82$2.60$3.04$2.56$0.47
2020Detailed filing. Detailed filing data is available for this year.$2.98$0.85$2.12$2.95$3.03$0.07
2019Summary only. Only limited summary data is available for this year.$2.92$0.72$2.20$3.03$2.80$0.23
2018Summary only. Only limited summary data is available for this year.$2.68$0.71$1.97$2.86$2.67$0.18
2017Summary only. Only limited summary data is available for this year.$2.49$0.70$1.79$3.10$2.71$0.40
2016Summary only. Only limited summary data is available for this year.$2.31$0.92$1.39$2.94$2.73$0.21
2015Summary only. Only limited summary data is available for this year.$1.75$0.58$1.18$3.25$2.94$0.30
2014Summary only. Only limited summary data is available for this year.$1.35$0.48$0.87$2.23$2.23$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.11$0.24$0.87$2.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.85$0.38$0.47$1.84