Civic Intelligence

Winter Haven Economic Development

990 • Fiscal year 2023 • EIN 45-3154152

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

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

(863) 837-5280

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$440,480

Up $76,972 (+21%) from 2022

Net Assets

Up

$346,533

Up $65,079 (+23%) from 2022

Liabilities

Up

$93,947

Up $11,893 (+14%) from 2022

Revenue And Expenses

Revenue

Up

$471,163

Up $86,992 (+23%) from 2022

Expenses

Up

$406,084

Up $43,432 (+12%) from 2022

Net Income

Up

$65,079

Up $43,560 (+202%) from 2022

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

2023

Assets$440,480
Liabilities$93,947
Net Assets$346,533
Open 2023 Filing

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

2023

Revenue$471,163
Expenses$406,084
Net Income$65,079
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Dec 5, 2023
Return Version
2022v5.0
Gross Receipts
$471,163
Mission and Program Overview

Mission

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

Our mission is to assist the public and private sector to grow a resilient, inclusive, and equitable economy in winter haven.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$312,731$340,324▲ $27,593
Accounts Receivable$9,140$51,343▲ $42,203
Pledges and Grants Receivable$35,000$40,000▲ $5,000
Land, Buildings, and Equipment, Net$5,761$7,922▲ $2,161
Prepaid Expenses and Deferred Charges$876$891▲ $15
Total Assets$363,508$440,480▲ $76,972
Liabilities
Deferred Revenue$70,833$74,167▲ $3,334
Accounts Payable and Accrued Expenses$11,221$19,780▲ $8,559
Total Liabilities$82,054$93,947▲ $11,893
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$277,028$342,107▲ $65,079
Net Assets With Donor Restrictions$4,426$4,426→ $0
Total Net Assets Fund Balance$281,454$346,533▲ $65,079
Total Liabilities and Net Assets / Fund Balance$363,508$440,480▲ $76,972

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,922$6,970-
Compensation and Service Providers

Employees

NameTitleBaseTotal
Nicole IrbyChairman$164,276$164,276

Board Members and Trustees

NameTitle
Mark TurnerImmediate Past Chairman
Bruce LyonPresident/CEO
Angela Garcia FalconettiVice Chairman
Alex JordanDirector
Ann BarnhartDirector
Bill SandsDirector
Blake SwaffordDirector
Bryan KarskyDirector
Bud StrangDirector
Cathy KluytenaarDirector
Donna MckownDirector
Elizabeth GodwinDirector
Eric LabbeDirector
Erin KillebrewDirector
Frank IdrisDirector
Greg LittletonDirector
James FordDirector
Jose RiveraDirector
Larry D Tucker JrDirector
Maggie MariucciDirector
Martha SantiagoDirector
Nat BirdsongDirector
Nick PlottDirector
Rick RichmondDirector
Ryan WhiteheadDirector
Steve BoyingtonDirector
Steven EliasDirector
Tandra DavisDirector
Tom M GarthwaiteDirector
Alex NikdelSecretary
Kevin AshleyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$186,666
Program Service Revenue
$284,012
Investment Income
$485
Other Revenue
$0
All Other Contributions
$15,000
Change in Net Assets
$65,079
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$324,951
Other Expenses$81,133
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---$164,276
Other Salaries and Wages---$129,636
Payroll Taxes---$22,234
Occupancy---$19,785
Fees for Services Other---$16,975
All Other Expenses---$10,586
Pension Plan Contributions---$8,805
Fees for Services Accounting---$7,920
Conferences and Meetings---$3,819
Insurance---$3,319
Office Expenses---$2,228
Depreciation Depletion---$1,956
Other Expenses---$1,204
Advertising---$474
Total Functional Expenses$0$0$0$406,084
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
2023-12-05
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
4

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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IRS990/OtherExpensesGrp/Desc3DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/TotalAmt0214
IRS990/OtherExpensesGrp/TotalAmt15474
IRS990/OtherExpensesGrp/TotalAmt27179
IRS990/OtherExpensesGrp/TotalAmt31204
IRS990/OtherSalariesAndWagesGrp/TotalAmt0129636
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/TotalAmt022234
IRS990/PensionPlanContributionsGrp/TotalAmt08805
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt035000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt040000
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0876
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0891
IRS990/PrincipalOfficerNm0BRUCE LYON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0926110
IRS990/ProgramServiceRevenueGrp/Desc0BOARD MEMBER DUES
IRS990/ProgramServiceRevenueGrp/ExclusionAmt0201667
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0201667
IRS990/ProgSrvcAccomActy2Grp/Desc0THE COUNCIL ENTERED INTO A PROGRAM WITH AEROSPACE CENTER FOR EXCELLENCE TO UTILIZE A GRANT FROM POLK COUNTY BOARD OF COUNTY COMMISSIONERS FROM THE AMERICAN RESCUE PLAN TO ASSIST SMALL BUSINESS AND ENTREPRENEURSHIP DEVELOPMENT PROGRAMS IN THE COMMUNITY.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYContributionsGrantsAmt0143560
IRS990/PYInvestmentIncomeAmt0213
IRS990/PYOtherExpensesAmt068251
IRS990/PYProgramServiceRevenueAmt0240398
IRS990/PYRevenuesLessExpensesAmt021519
IRS990/PYSalariesCompEmpBnftPaidAmt0294401
IRS990/PYTotalExpensesAmt0362652
IRS990/PYTotalRevenueAmt0384171
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt065079
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/OnlyInHouseLobbyingInd01
IRS990ScheduleC/SubstantiallyAllDuesNondedInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt07922
IRS990ScheduleD/EquipmentGrp/DepreciationAmt06970
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt014892
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07922
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/TotalAssetsBOYAmt0363508
IRS990/TotalAssetsEOYAmt0440480
IRS990/TotalAssetsGrp/BOYAmt0363508
IRS990/TotalAssetsGrp/EOYAmt0440480
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0186666
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/TotalAmt0406084
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt082054
IRS990/TotalLiabilitiesEOYAmt093947
IRS990/TotalLiabilitiesGrp/BOYAmt082054
IRS990/TotalLiabilitiesGrp/EOYAmt093947
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0281454
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0346533
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt082345
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt082345
IRS990/TotalProgramServiceRevenueAmt0284012
IRS990/TotalReportableCompFromOrgAmt0164276
IRS990/TotalRevenueGrp/ExclusionAmt0284497
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0471163
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0363508
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0440480
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/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRUCE LYON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08632943568
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-12-05
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/IRSResponsiblePrtyInfoCurrInd01
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/ReturnTs02023-12-05T13:11:03-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BRUCE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LYON

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$440,480
Liabilities
$93,947
Net assets
$346,533
Revenue
$471,163
Expenses
$406,084
Net income
$65,079
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
2023Detailed filing. Detailed filing data is available for this year.$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
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