Civic Intelligence

Winter Haven Economic Development

990 • Fiscal year 2021 • EIN 45-3154152

Oct 01, 2020 to Sep 30, 2021 • Filed on Jan 04, 2022

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

82nd percentile

0.24x

Higher debt load relative to assets than 82% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

83rd percentile

0.27x

Higher debt load relative to revenue than 83% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Net Margin

62nd percentile

16%

Higher net margin than 62% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Top Officer Pay

99th percentile

$144,865

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 47.7% of source-year revenue.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Asset Growth

63rd percentile

15%

Faster asset growth than 63% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

50th percentile

2.9%

Faster revenue growth than 50% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$342,345

Up $44,671 (+15%) from 2020

Net Assets

Up

$259,935

Up $47,497 (+22%) from 2020

Liabilities

Down

$82,410

Down $2,826 (-3.3%) from 2020

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin62nd percentile

Revenue

Up

$303,850

Up $8,537 (+2.9%) from 2020

Expenses

Down

$256,353

Down $46,401 (-15%) from 2020

Net Income

Up

$47,497

Up $54,938 (+738%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth63rd 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

2021

Assets$342,345
Liabilities$82,410
Net Assets$259,935
Open 2021 Filing

Operations Trend

Revenue Growth50th 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

2021

Revenue$303,850
Expenses$256,353
Net Income$47,497
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Jan 4, 2022
Return Version
2020v4.1
Gross Receipts
$303,850
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$272,656$291,725▲ $19,069
Pledges and Grants Receivable$19,925$42,425▲ $22,500
Land, Buildings, and Equipment, Net$4,237$7,319▲ $3,082
Prepaid Expenses and Deferred Charges$856$876▲ $20
Total Assets$297,674$342,345▲ $44,671
Liabilities
Deferred Revenue$60,834$72,083▲ $11,249
Accounts Payable and Accrued Expenses$24,402$10,327▼ $14,075
Total Liabilities$85,236$82,410▼ $2,826
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$208,012$255,509▲ $47,497
Net Assets With Donor Restrictions$4,426$4,426→ $0
Total Net Assets Fund Balance$212,438$259,935▲ $47,497
Total Liabilities and Net Assets / Fund Balance$297,674$342,345▲ $44,671

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,319$6,014-
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleBaseTotal
Steven EliasDirector$144,865$144,865

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$139,947
Program Service Revenue
$163,750
Investment Income
$153
Other Revenue
$0
All Other Contributions
$1,425
Change in Net Assets
$47,497
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$217,543
Other Expenses$38,810
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$144,865
Other Salaries and Wages---$52,027
Payroll Taxes---$14,744
Occupancy---$12,840
Fees for Services Accounting---$6,133
Pension Plan Contributions---$5,907
All Other Expenses---$5,082
Other Expenses---$4,499
Insurance---$2,912
Fees for Services Other---$1,780
Depreciation Depletion---$1,625
Advertising---$1,607
Office Expenses---$602
Total Functional Expenses$0$0$0$256,353
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
Yes
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
2022-01-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bruce Lyon
Formed
2011
Legal Domicile
Fl
Voting Board Members
32
Independent Board Members
32
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/NoDonorRestrictionNetAssetsGrp/BOYAmt0208012
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0255509
IRS990/NondeductibleContributionsInd01
IRS990/NondeductibleContriDisclInd01
IRS990/OccupancyGrp/TotalAmt012840
IRS990/OfficeExpensesGrp/TotalAmt0602
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherExpensesGrp/Desc0AUTO MILEAGE
IRS990/OtherExpensesGrp/Desc1BUSINESS DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2COMP EXP/WEB HOSTING
IRS990/OtherExpensesGrp/TotalAmt0175
IRS990/OtherExpensesGrp/TotalAmt11555
IRS990/OtherExpensesGrp/TotalAmt24499
IRS990/OtherSalariesAndWagesGrp/TotalAmt052027
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/TotalAmt014744
IRS990/PensionPlanContributionsGrp/TotalAmt05907
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt019925
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt042425
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0876
IRS990/PrincipalOfficerNm0BRUCE LYON
IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0163750
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYContributionsGrantsAmt0137207
IRS990/PYGrantsAndSimilarPaidAmt05000
IRS990/PYInvestmentIncomeAmt0189
IRS990/PYOtherExpensesAmt078805
IRS990/PYProgramServiceRevenueAmt0157917
IRS990/PYRevenuesLessExpensesAmt0-7441
IRS990/PYSalariesCompEmpBnftPaidAmt0218949
IRS990/PYTotalExpensesAmt0302754
IRS990/PYTotalRevenueAmt0295313
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt047497
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/OnlyInHouseLobbyingInd01
IRS990ScheduleC/SubstantiallyAllDuesNondedInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt07319
IRS990ScheduleD/EquipmentGrp/DepreciationAmt06014
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt013333
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07319
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/TotalAssetsBOYAmt0297674
IRS990/TotalAssetsEOYAmt0342345
IRS990/TotalAssetsGrp/BOYAmt0297674
IRS990/TotalAssetsGrp/EOYAmt0342345
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0139947
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/TotalAmt0256353
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt085236
IRS990/TotalLiabilitiesEOYAmt082410
IRS990/TotalLiabilitiesGrp/BOYAmt085236
IRS990/TotalLiabilitiesGrp/EOYAmt082410
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0212438
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0259935
IRS990/TotalProgramServiceRevenueAmt0163750
IRS990/TotalReportableCompFromOrgAmt0144865
IRS990/TotalRevenueGrp/ExclusionAmt0163903
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0303850
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IRS990/TransactionWithControlEntInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0WINTER HAVEN
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033880
IRS990/VotingMembersGoverningBodyCnt032
IRS990/VotingMembersIndependentCnt032
IRS990/WebsiteAddressTxt0WWW.WHEDC.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRUCE LYON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08632943568
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-01-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WINTER HAVEN ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessNameControlTxt0WINT
ReturnHeader/Filer/EIN0453154152
ReturnHeader/Filer/PhoneNum08638375280
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
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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/PreparerPersonNm0THOMAS E JENNINGS CPA
ReturnHeader/ReturnTs02022-01-11T10:18:35-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BRUCE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LYON
ReturnHeader/TaxPeriodBeginDt02020-10-01
ReturnHeader/TaxPeriodEndDt02021-09-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$342,345
Liabilities
$82,410
Net assets
$259,935
Revenue
$303,850
Expenses
$256,353
Net income
$47,497
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
2021Detailed filing. Detailed filing data is available for this year.$3.42$0.82$2.60$3.04$2.56$0.47
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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