Civic Intelligence

Economic Development Alliance of Bay County Inc

990 • Fiscal year 2023 • EIN 45-4008525

Oct 01, 2022 to Sep 30, 2023 • Filed on Mar 15, 2024

Organization ProfileBAYEDA.COM
5230 W Highway 98Panama City, FL 32401

(850) 215-9965

Siviq Scores

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

Liabilities / Assets

24th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

24th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Net Margin

37th percentile

-1.0%

Higher net margin than 37% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

89th percentile

$158,443

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 21.4% of source-year revenue.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Asset Growth

32nd percentile

-1.7%

Faster asset growth than 32% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

3rd percentile

-39%

Faster revenue growth than 3% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets24th percentile

Assets

Down

$439,033

Down $7,756 (-1.7%) from 2022

Net Assets

Down

$439,033

Down $7,756 (-1.7%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin37th percentile

Revenue

Down

$739,140

Down $475,252 (-39%) from 2022

Expenses

Down

$746,896

Down $430,575 (-37%) from 2022

Net Income

Down

-$7,756

Down $44,677 (-121%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

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

$600K$400K$200K$0Assets 2012: $130,062Liabilities 2012: $0Net Assets 2012: $130,0622012Assets 2013: $172,828Liabilities 2013: $19,800Net Assets 2013: $153,0282013Assets 2014: $223,779Liabilities 2014: $0Net Assets 2014: $223,7792014Assets 2015: $122,271Liabilities 2015: $0Net Assets 2015: $122,2712015Assets 2016: $124,141Liabilities 2016: $0Net Assets 2016: $124,1412016Assets 2017: $143,982Liabilities 2017: $0Net Assets 2017: $143,9822017Assets 2018: $154,448Liabilities 2018: $0Net Assets 2018: $154,4482018Assets 2019: $233,699Liabilities 2019: $0Net Assets 2019: $233,6992019Assets 2020: $370,012Liabilities 2020: $0Net Assets 2020: $370,0122020Assets 2021: $414,913Liabilities 2021: $0Net Assets 2021: $414,9132021Assets 2022: $446,789Liabilities 2022: $0Net Assets 2022: $446,7892022Assets 2023: $439,033Liabilities 2023: $0Net Assets 2023: $439,0332023Assets 2024: $384,380Liabilities 2024: $0Net Assets 2024: $384,3802024

Highlighted filing

2023

Assets$439,033
Liabilities$0
Net Assets$439,033
Open 2023 Filing

Operations Trend

Revenue Growth3rd percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2012: $458,759Expenses 2012: $379,399Net Income 2012: $79,3602012Revenue 2013: $524,711Expenses 2013: $499,444Net Income 2013: $25,2672013Revenue 2014: $602,360Expenses 2014: $531,609Net Income 2014: $70,7512014Revenue 2015: $533,006Expenses 2015: $554,153Net Income 2015: -$21,1472015Revenue 2016: $570,567Expenses 2016: $568,697Net Income 2016: $1,8702016Revenue 2017: $660,168Expenses 2017: $640,327Net Income 2017: $19,8412017Revenue 2018: $645,150Expenses 2018: $634,684Net Income 2018: $10,4662018Revenue 2019: $729,214Expenses 2019: $649,963Net Income 2019: $79,2512019Revenue 2020: $738,005Expenses 2020: $601,692Net Income 2020: $136,3132020Revenue 2021: $698,360Expenses 2021: $653,459Net Income 2021: $44,9012021Revenue 2022: $1,214,392Expenses 2022: $1,177,471Net Income 2022: $36,9212022Revenue 2023: $739,140Expenses 2023: $746,896Net Income 2023: -$7,7562023Revenue 2024: $768,020Expenses 2024: $822,673Net Income 2024: -$54,6532024

Highlighted filing

2023

Revenue$739,140
Expenses$746,896
Net Income-$7,756
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Mar 15, 2024
Return Version
2022v5.0
Gross Receipts
$739,140
Mission and Program Overview

Mission

Work with strategic partners to enable the bay area to create new, quality jobs while sustaining and growing the existing economic base.

The bay economic development alliance (eda) is a public/private not-for- profit organization dedicated to creating new quality jobs which increase the wealth in the community while sustaining and growing the existing economic base.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$439,795$433,418▼ $6,377
Land, Buildings, and Equipment, Net$6,994$5,615▼ $1,379
Total Assets$446,789$439,033▼ $7,756
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$446,789$439,033▼ $7,756
Total Net Assets Fund Balance$446,789$439,033▼ $7,756
Total Liabilities and Net Assets / Fund Balance$446,789$439,033▼ $7,756

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,826$4,039$8,865
Leasehold Improvements$789$1,161$1,950
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Rebecca HardinPresidentFT$158,443$158,443
Benjamin Moorman22-23 Vice PFT$123,834$123,834

Board Members and Trustees

NameTitle
Patrick Jones23 Chair, 22
Will Cramer23 P Chair,
Shane Boyett23 V Chair,
Catherine Mccloy22 Inv App
Catherine Collins22 Member
Garrett Anderson22 Member
John Holdnak22 Member
Angela Reese23 Inv App
Glen Mcdonald23 Member
Joe Sorci23 Member
Bob Majka23 Member, 2
Carol Roberts23 Member, 2
Dan Rowe23 Member, 2
Greg Brudnicki23 Member, 2
Harvey Hollingsworth23 Member, 2
Holly Melzer23 Member, 2
Jesse Nelson23 Member, 2
Jorge Gonzalez23 Member, 2
Kristopher Mclane23 Member, 2
Mark Sheldon23 Member, 2
William Dozier23 Member, 2
Kim Bodine23 Member,22
Jay Moody23 Secretary
Kyle Shoots23 Treas, 22
Revenue and Support

Revenue Composition

Contributions and Grants
$10,250
Program Service Revenue
$726,641
Investment Income
$2,249
Other Revenue
$0
All Other Contributions
$10,250
Change in Net Assets
$-7,756

Audited Revenue Reconciliation

Revenue per Audited Statements
$739,140
Total Revenue per Audited Statements
$739,140
Total Revenue per Form 990
$739,140
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$449,025
Other Expenses$297,871
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$276,197$30,689-$306,886
Advertising$118,625--$118,625
Travel$97,210--$97,210
Other Salaries and Wages$30,318$30,319-$60,637
Occupancy$26,493$6,623-$33,116
Other Employee Benefits$25,262$6,766-$32,028
Payroll Taxes$21,858$4,593-$26,451
Pension Plan Contributions$20,287$2,736-$23,023
Fees for Services Accounting-$8,949-$8,949
Office Expenses$2,210$5,825-$8,035
Fees for Services Other$4,600$1,400-$6,000
Insurance$1,149$4,508-$5,657
Information Technology-$4,100-$4,100
Depreciation Depletion-$1,379-$1,379
Other Expenses$14,143$657-$657
Total Functional Expenses$638,352$108,544$0$746,896

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$746,896
Total Expenses per Audited Statements$746,896
Total Expenses per Form 990$746,896
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
Backup withholding compliance
No
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
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The tax form is presented by the certified public accounting firm to the executive committee. The executive committee reviews the return and votes to approve it. Once approved, the return is filed with the irs.”

Form 990, Page 6, Part VI, Line 15A

“The eda's executive board committee discusses and determines the president's compensation based on a comparison with other regional economic development organization executives considering time, experience of the individual, and expected pay of other applicants for the position.”

Form 990, Page 6, Part VI, Line 15B

“The vice president's compensation is determined by the president and by time, experience, and previous vice president's compensation.”

Form 990, Page 6, Part VI, Line 19

“The eda makes its governing documents and financial statements available to the public upon request at the eda office.”

Filing and Contact Details

Filer

Filer Name
Economic Development Alliance of
EIN
45-4008525
Phone
8502159965
Address
5230 W HIGHWAY 98, PANAMA CITY, FL 32401

Signing Officer

Name
Rebecca Hardin
Title
President
Phone
8502159965
Signed
2024-03-15

Organization Details

Principal Officer
Rebecca Hardin
Formed
2012
Legal Domicile
Fl
Voting Board Members
20
Independent Board Members
20
Employees
4

Preparer

Firm
Tipton Marler Garner & Chastain
Address
P O BOX 1100, PANAMA CITY, FL 32402-1100
Preparer
Amy D Pfau CPA
Phone
8507699491
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The bay economic development alliance (eda) is a public/private not-for- profit organization dedicated to creating new quality jobs which increase the wealth in the community while sustaining and growing the existing economic base.”

Form 990

“Payroll leasing company: the organization outsources all payroll functions to a leasing company, landrum. All payroll expenses are presented in part ix - functional expenses of form 990 by nature of expense.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt122-23 VICE P
IRS990/Form990PartVIISectionAGrp/TitleTxt222 MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt323 MEMBER,22
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IRS990/Form990PartVIISectionAGrp/TitleTxt923 MEMBER, 2
IRS990/Form990PartVIISectionAGrp/TitleTxt1022 MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1123 MEMBER, 2
IRS990/Form990PartVIISectionAGrp/TitleTxt1223 CHAIR, 22
IRS990/Form990PartVIISectionAGrp/TitleTxt1323 MEMBER, 2
IRS990/Form990PartVIISectionAGrp/TitleTxt1422 INV APP
IRS990/Form990PartVIISectionAGrp/TitleTxt1523 MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1623 MEMBER, 2
IRS990/Form990PartVIISectionAGrp/TitleTxt1723 MEMBER, 2
IRS990/Form990PartVIISectionAGrp/TitleTxt1823 SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt1923 MEMBER, 2
IRS990/Form990PartVIISectionAGrp/TitleTxt2023 INV APP
IRS990/Form990PartVIISectionAGrp/TitleTxt2123 MEMBER, 2
IRS990/Form990PartVIISectionAGrp/TitleTxt2223 MEMBER, 2
IRS990/Form990PartVIISectionAGrp/TitleTxt2323 MEMBER, 2
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IRS990/Form990PartVIISectionAGrp/TitleTxt2523 MEMBER
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IRS990/LandBldgEquipCostOrOtherBssAmt010815
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IRS990/LocalChaptersInd0false
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE BAY ECONOMIC DEVELOPMENT ALLIANCE (EDA) IS A PUBLIC/PRIVATE NOT-FOR- PROFIT ORGANIZATION DEDICATED TO CREATING NEW QUALITY JOBS WHICH INCREASE THE WEALTH IN THE COMMUNITY WHILE SUSTAINING AND GROWING THE EXISTING ECONOMIC BASE.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/OfficeExpensesGrp/ProgramServicesAmt02210
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt025262
IRS990/OtherEmployeeBenefitsGrp/TotalAmt032028
IRS990/OtherExpensesGrp/Desc0DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc1BANK CHARGES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0657
IRS990/OtherExpensesGrp/ProgramServicesAmt014143
IRS990/OtherExpensesGrp/TotalAmt014143
IRS990/OtherExpensesGrp/TotalAmt1657
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04593
IRS990/PayrollTaxesGrp/ProgramServicesAmt021858
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt020287
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IRS990/PrincipalOfficerNm0REBECCA HARDIN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0FUNDING FROM PARTNERS
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0726641
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYOtherExpensesAmt0696937
IRS990/PYOtherRevenueAmt02925
IRS990/PYProgramServiceRevenueAmt0797362
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BAY ECONOMIC DEVELOPMENT ALLIANCE (EDA) IS A PUBLIC/PRIVATE NOT-FOR- PROFIT ORGANIZATION DEDICATED TO CREATING NEW QUALITY JOBS WHICH INCREASE THE WEALTH IN THE COMMUNITY WHILE SUSTAINING AND GROWING THE EXISTING ECONOMIC BASE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PAYROLL LEASING COMPANY: THE ORGANIZATION OUTSOURCES ALL PAYROLL FUNCTIONS TO A LEASING COMPANY, LANDRUM. ALL PAYROLL EXPENSES ARE PRESENTED IN PART IX - FUNCTIONAL EXPENSES OF FORM 990 BY NATURE OF EXPENSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE TAX FORM IS PRESENTED BY THE CERTIFIED PUBLIC ACCOUNTING FIRM TO THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE REVIEWS THE RETURN AND VOTES TO APPROVE IT. ONCE APPROVED, THE RETURN IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EDA'S EXECUTIVE BOARD COMMITTEE DISCUSSES AND DETERMINES THE PRESIDENT'S COMPENSATION BASED ON A COMPARISON WITH OTHER REGIONAL ECONOMIC DEVELOPMENT ORGANIZATION EXECUTIVES CONSIDERING TIME, EXPERIENCE OF THE INDIVIDUAL, AND EXPECTED PAY OF OTHER APPLICANTS FOR THE POSITION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE VICE PRESIDENT'S COMPENSATION IS DETERMINED BY THE PRESIDENT AND BY TIME, EXPERIENCE, AND PREVIOUS VICE PRESIDENT'S COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE EDA MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AT THE EDA OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0446789
IRS990/TotalAssetsEOYAmt0439033
IRS990/TotalAssetsGrp/BOYAmt0446789

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$439,033
Liabilities
$0
Net assets
$439,033
Revenue
$739,140
Expenses
$746,896
Net income
-$7,756
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.38$0.00$0.38$0.77$0.82$0.05
2023Detailed filing. Detailed filing data is available for this year.$0.44$0.00$0.44$0.74$0.75$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.45$0.00$0.45$1.21$1.18$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.41$0.00$0.41$0.70$0.65$0.04
2020Detailed filing. Detailed filing data is available for this year.$0.37$0.00$0.37$0.74$0.60$0.14
2019Detailed filing. Detailed filing data is available for this year.$0.23$0.00$0.23$0.73$0.65$0.08
2018Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.15$0.65$0.63$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.14$0.00$0.14$0.66$0.64$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.12$0.00$0.12$0.57$0.57$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.12$0.00$0.12$0.53$0.55$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.22$0.60$0.53$0.07
2013Summary only. Only limited summary data is available for this year.$0.17$0.02$0.15$0.52$0.50$0.03
2012Summary only. Only limited summary data is available for this year.$0.13$0.00$0.13$0.46$0.38$0.08