Civic Intelligence

Winter Haven Economic Development

990 • Fiscal year 2022 • EIN 45-3154152

Oct 01, 2021 to Sep 30, 2022 • Filed on Jan 05, 2023

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

0.23x

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

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

82nd percentile

0.21x

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

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Net Margin

56th percentile

5.6%

Higher net margin than 56% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Top Officer Pay

99th percentile

$151,459

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 39.4% of source-year revenue.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Asset Growth

61st percentile

6.2%

Faster asset growth than 61% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

65th percentile

26%

Faster revenue growth than 65% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Up

$363,508

Up $21,163 (+6.2%) from 2021

Net Assets

Up

$281,454

Up $21,519 (+8.3%) from 2021

Liabilities

Down

$82,054

Down $356 (-0.4%) from 2021

Revenue

Up

$384,171

Up $80,321 (+26%) from 2021

Expenses

Up

$362,652

Up $106,299 (+41%) from 2021

Net Income

Down

$21,519

Down $25,978 (-55%) from 2021

Historical Trend

Balance Sheet Trend

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

2022

Assets$363,508
Liabilities$82,054
Net Assets$281,454

Operations Trend

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

2022

Revenue$384,171
Expenses$362,652
Net Income$21,519
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Jan 5, 2023
Return Version
2021v4.1
Gross Receipts
$384,171
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$291,725$312,731▲ $21,006
Pledges and Grants Receivable$42,425$35,000▼ $7,425
Accounts Receivable-$9,140-
Land, Buildings, and Equipment, Net$7,319$5,761▼ $1,558
Prepaid Expenses and Deferred Charges$876$876→ $0
Total Assets$342,345$363,508▲ $21,163
Liabilities
Deferred Revenue$72,083$70,833▼ $1,250
Accounts Payable and Accrued Expenses$10,327$11,221▲ $894
Total Liabilities$82,410$82,054▼ $356
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$255,509$277,028▲ $21,519
Net Assets With Donor Restrictions$4,426$4,426→ $0
Total Net Assets Fund Balance$259,935$281,454▲ $21,519
Total Liabilities and Net Assets / Fund Balance$342,345$363,508▲ $21,163

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,761$5,013-
Compensation and Service Providers

Employees

NameTitleBaseTotal
Steven EliasDirector$151,459$151,459

Board Members and Trustees

NameTitle
Mark TurnerChair
Greg LittletonImmediate Past Chair
Bruce LyonPresident/CEO
Angela FalconettiVice Chair/secretary
Alex JordanDirector
Alex NikdelDirector
Alex VachaDirector
Anita StrangDirector
Ann BarnhartDirector
Baxter TroutmanDirector
Bryan KarskyDirector
Bud StrangDirector
Cathy KluytenaarDirector
Elizabeth GodwinDirector
Eric LabbeDirector
Erin KillebrewDirector
Ingram LeedyDirector
Jake CrewsDirector
James FordDirector
Jose RiveraDirector
Kevin AshleyDirector
Kidada HawkinsDirector
Larry D TuckerDirector
Maggie MariucciDirector
Martha SantiagoDirector
Nat BirdsongDirector
Nick PlottDirector
Rex JacksonDirector
Ryan WhiteheadDirector
Steve BoyingtonDirector
Nicole IrbyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$143,560
Program Service Revenue
$240,398
Investment Income
$213
Other Revenue
$0
All Other Contributions
$2,000
Change in Net Assets
$21,519
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$294,401
Other Expenses$68,251
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---$151,459
Other Salaries and Wages---$114,548
Payroll Taxes---$20,300
Occupancy---$18,945
All Other Expenses---$15,016
Pension Plan Contributions---$8,094
Fees for Services Accounting---$6,060
Advertising---$3,257
Insurance---$3,184
Office Expenses---$3,157
Depreciation Depletion---$2,247
Fees for Services Other---$1,600
Other Expenses---$1,125
Total Functional Expenses$0$0$0$362,652
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
2023-01-05
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
3

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/NetAssetsOrFundBalancesEOYAmt0281454
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0255509
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0277028
IRS990/NondeductibleContributionsInd01
IRS990/NondeductibleContriDisclInd01
IRS990/OccupancyGrp/TotalAmt018945
IRS990/OfficeExpensesGrp/TotalAmt03157
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherExpensesGrp/Desc0AUTO MILEAGE
IRS990/OtherExpensesGrp/Desc1BUSINESS DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2COMP EXP/WEB HOSTING
IRS990/OtherExpensesGrp/Desc3DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/TotalAmt040
IRS990/OtherExpensesGrp/TotalAmt15167
IRS990/OtherExpensesGrp/TotalAmt28453
IRS990/OtherExpensesGrp/TotalAmt31125
IRS990/OtherSalariesAndWagesGrp/TotalAmt0114548
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/TotalAmt020300
IRS990/PensionPlanContributionsGrp/TotalAmt08094
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt042425
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt035000
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0876
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0876
IRS990/PrincipalOfficerNm0BRUCE LYON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0926110
IRS990/ProgramServiceRevenueGrp/Desc0BOARD MEMBER DUES
IRS990/ProgramServiceRevenueGrp/ExclusionAmt0171325
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0171325
IRS990/ProgSrvcAccomActy2Grp/Desc0THE COUNCIL ENTERED INTO A PROGRAM WITH THE CITY OF WINTER HAVEN TO ADMINISTER AN AFFORDABLE HOUSING PROGRAM TO ADDRESS AFFORDABLE HOUSE CHALLENGES WITHIN THE COMMUNITY. THE EFFORT IS INTENDED TO ENCOURAGE INVESTMENT BY PRIVATE ENTERPRISES, TO LEVERAGE PUBLIC AND PRIVATE SECTOR INVESTMENTS, AND TO STIMULATE ACQUISITION OF PROPERTY AND CONSTRUCTION AND REHABILITATION OF HOUSING AND COMMUNITY INVESTMENTS THROUGH USE OF PUBLIC AND PRIVATE FUNDS.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYContributionsGrantsAmt0139947
IRS990/PYInvestmentIncomeAmt0153
IRS990/PYOtherExpensesAmt038810
IRS990/PYProgramServiceRevenueAmt0163750
IRS990/PYRevenuesLessExpensesAmt047497
IRS990/PYSalariesCompEmpBnftPaidAmt0217543
IRS990/PYTotalExpensesAmt0256353
IRS990/PYTotalRevenueAmt0303850
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt021519
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/OnlyInHouseLobbyingInd01
IRS990ScheduleC/SubstantiallyAllDuesNondedInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt05761
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05013
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt010774
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05761
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/SignificantNewProgramSrvcInd01
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd01
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0342345
IRS990/TotalAssetsEOYAmt0363508
IRS990/TotalAssetsGrp/BOYAmt0342345
IRS990/TotalAssetsGrp/EOYAmt0363508
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0143560
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/TotalAmt0362652
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt082410
IRS990/TotalLiabilitiesEOYAmt082054
IRS990/TotalLiabilitiesGrp/BOYAmt082410
IRS990/TotalLiabilitiesGrp/EOYAmt082054
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0259935
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0281454
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt069073
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt069073
IRS990/TotalProgramServiceRevenueAmt0240398
IRS990/TotalReportableCompFromOrgAmt0151459
IRS990/TotalRevenueGrp/ExclusionAmt0240611
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0384171
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0342345
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0363508
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/VotingMembersGoverningBodyCnt032
IRS990/VotingMembersIndependentCnt032
IRS990/WebsiteAddressTxt0WWW.WHEDC.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02023-03-07 01:45:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRUCE LYON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08632943568
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-01-05
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/PreparerPersonNm0THOMAS E JENNINGS CPA
ReturnHeader/ReturnTs02023-01-05T15:19:08-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BRUCE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LYON
ReturnHeader/TaxPeriodBeginDt02021-10-01
ReturnHeader/TaxPeriodEndDt02022-09-30
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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
2022Detailed filing. Detailed filing data is available for this year.$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
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