Civic Intelligence

Community Economic Development Assoc D/B/A Floridawest Economic Development

990 • Fiscal year 2021 • EIN 47-1954665

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

3 West Garden Street No 618Pensacola, FL 32502

(850) 898-2201

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.11x

Higher debt load relative to assets than 42% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

28th percentile

0.05x

Higher debt load relative to revenue than 28% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Net Margin

24th percentile

1.1%

Higher net margin than 24% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

76th percentile

$220,452

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 16.1% of source-year revenue.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Asset Growth

14th percentile

-2.9%

Faster asset growth than 14% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

60th percentile

15%

Faster revenue growth than 60% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$663,389

Down $19,766 (-2.9%) from 2020

Net Assets

Up

$592,991

Up $14,539 (+2.5%) from 2020

Liabilities

Down

$70,398

Down $34,305 (-33%) from 2020

Revenue

Up

$1,371,951

Up $184,059 (+15%) from 2020

Expenses

Up

$1,357,412

Up $107,126 (+8.6%) from 2020

Net Income

Up

$14,539

Up $76,933 (+123%) from 2020

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2015: $223,621Liabilities 2015: $29,996Net Assets 2015: $193,6252015Assets 2016: $562,313Liabilities 2016: $33,761Net Assets 2016: $528,5522016Assets 2017: $660,768Liabilities 2017: $41,558Net Assets 2017: $619,2102017Assets 2018: $735,111Liabilities 2018: $38,422Net Assets 2018: $696,6892018Assets 2019: $687,732Liabilities 2019: $46,886Net Assets 2019: $640,8462019Assets 2020: $683,155Liabilities 2020: $104,703Net Assets 2020: $578,4522020Assets 2021: $663,389Liabilities 2021: $70,398Net Assets 2021: $592,9912021Assets 2022: $509,626Liabilities 2022: $61,899Net Assets 2022: $447,7272022Assets 2023: $929,668Liabilities 2023: $475,081Net Assets 2023: $454,5872023Assets 2024: $1,813,239Liabilities 2024: $348,931Net Assets 2024: $1,464,3082024

Highlighted filing

2021

Assets$663,389
Liabilities$70,398
Net Assets$592,991

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2015: $1,057,950Expenses 2015: $864,325Net Income 2015: $193,6252015Revenue 2016: $1,230,263Expenses 2016: $895,336Net Income 2016: $334,9272016Revenue 2017: $1,060,494Expenses 2017: $969,836Net Income 2017: $90,6582017Revenue 2018: $1,059,035Expenses 2018: $1,003,556Net Income 2018: $55,4792018Revenue 2019: $1,136,016Expenses 2019: $1,191,859Net Income 2019: -$55,8432019Revenue 2020: $1,187,892Expenses 2020: $1,250,286Net Income 2020: -$62,3942020Revenue 2021: $1,371,951Expenses 2021: $1,357,412Net Income 2021: $14,5392021Revenue 2022: $1,163,356Expenses 2022: $1,308,620Net Income 2022: -$145,2642022Revenue 2023: $1,184,018Expenses 2023: $1,177,158Net Income 2023: $6,8602023Revenue 2024: $1,899,003Expenses 2024: $1,279,134Net Income 2024: $619,8692024

Highlighted filing

2021

Revenue$1,371,951
Expenses$1,357,412
Net Income$14,539
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Apr 1, 2022
Return Version
2020v4.2
Gross Receipts
$1,381,087
Mission and Program Overview

Mission

Promote business development in Pensacola and Escambia County.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$500,000-
Cash and Non-Interest-Bearing Accounts$574,644$120,352▼ $454,292
Accounts Receivable$56,426$0▼ $56,426
Land, Buildings, and Equipment, Net$32,335$23,287▼ $9,048
Prepaid Expenses and Deferred Charges$18,750$18,750→ $0
Total Assets$683,155$663,389▼ $19,766
Other Assets Total$1,000$1,000→ $0
Liabilities
Accounts Payable and Accrued Expenses$64,703$70,398▲ $5,695
Deferred Revenue$40,000$0▼ $40,000
Total Liabilities$104,703$70,398▼ $34,305
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$578,452$592,991▲ $14,539
Total Net Assets Fund Balance$578,452$592,991▲ $14,539
Total Liabilities and Net Assets / Fund Balance$683,155$663,389▼ $19,766

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$23,287$47,965$71,252
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott LuthCEOFT$184,123$36,329$220,452

Board Members and Trustees

NameTitle
Rick ByarsPresident
David BearVice President
Charletha PowellDirector
Don PalmerDirector
Donnie McMahonDirector
Jim WaiteDirector
Olevia McNallyDirector
Rebecca FergusonDirector
Dave MurzinInvestor
Ed MeadowsInvestor
Jonathan TuckerInvestor
Joshua BeadsleyInvestor
KC GartmanInvestor
Marcus McBrideInvestor
Ryan GreenhutInvestor
Ryan TilleySecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,227,030
Program Service Revenue
$1,719
Investment Income
$-9,098
Other Revenue
$152,300
Change in Net Assets
$14,539

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,381,087
Revenue Not Reported on Financial Statements
$-9,136
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-9,136
Total Revenue per Audited Statements
$1,381,087
Total Revenue per Form 990
$1,371,951
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$769,134
Other Expenses$588,278
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$429,498$204,758-$634,256
Advertising$162,135--$162,135
Occupancy$44,823$48,226-$93,049
Fees for Services Other$71,500--$71,500
Other Employee Benefits$70,613--$70,613
Office Expenses$22,110$33,209-$55,319
Payroll Taxes$45,342--$45,342
Fees for Services Accounting-$26,595-$26,595
Pension Plan Contributions$18,923--$18,923
Travel$5,948$9,834-$15,782
Depreciation Depletion-$8,939-$8,939
Conferences and Meetings$8,687--$8,687
Other Expenses$7,010--$7,010
Insurance-$6,462-$6,462
Fees for Services Legal-$6,225-$6,225
All Other Expenses$1,957$100-$2,057
Total Functional Expenses$1,013,064$344,348$0$1,357,412

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,357,412
Total Expenses per Audited Statements$1,357,412
Total Expenses per Form 990$1,357,412
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

The organization has members with voting right and investor members without voting rights.

Form 990, Part VI, Section A, line 7A

Each member has power to appoint one member of the Board of Directors.

Form 990, Part VI, Section B, line 11B

A copy of the 990 is presented to the Board for approval before the return is filed.

Form 990, Part VI, Section B, line 15A

The Organization uses salary data from ACCE, IEDC and DMO to determine salary ranges. The amounts are re-evaluated every two years.

Form 990, Part VI, Section C, line 19

The Organization's governing documents and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Community Economic Development Assoc
EIN
47-1954665
Phone
8508982201
Address
3 West Garden Street No 618, Pensacola, FL 32502
Doing Business As
FloridaWest Economic Development

Signing Officer

Name
Scott Luth
Title
CEO
Phone
8508982201
Signed
2022-04-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Luth
Formed
2014
Legal Domicile
Fl
Voting Board Members
9
Independent Board Members
9
Employees
8
Volunteers
0

Preparer

Firm
Saltmarsh Cleaveland and Gund
Address
900 North 12th Avenue, Pensacola, FL 32501
Preparer
Allison Jones CPA
Phone
8504358300
Supplemental Narrative

Financial Statement Notes

Part XI, Line 4B - Other Adjustments:

Loss on disposition of property and equipment -9,136.

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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0592991
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt048226
IRS990/OccupancyGrp/ProgramServicesAmt044823
IRS990/OccupancyGrp/TotalAmt093049
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt033209
IRS990/OfficeExpensesGrp/ProgramServicesAmt022110
IRS990/OfficeExpensesGrp/TotalAmt055319
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01000
IRS990/OtherAssetsTotalGrp/EOYAmt01000
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt070613
IRS990/OtherEmployeeBenefitsGrp/TotalAmt070613
IRS990/OtherExpensesGrp/Desc0CoLab
IRS990/OtherExpensesGrp/Desc1High Growth Companies
IRS990/OtherExpensesGrp/Desc2Dues and subscriptions
IRS990/OtherExpensesGrp/ProgramServicesAmt0103149
IRS990/OtherExpensesGrp/ProgramServicesAmt121369
IRS990/OtherExpensesGrp/ProgramServicesAmt27010
IRS990/OtherExpensesGrp/TotalAmt0103149
IRS990/OtherExpensesGrp/TotalAmt121369
IRS990/OtherExpensesGrp/TotalAmt27010
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0Insurance Proceeds
IRS990/OtherRevenueMiscGrp/Desc1Misc. revenue
IRS990/OtherRevenueMiscGrp/ExclusionAmt0150000
IRS990/OtherRevenueMiscGrp/ExclusionAmt12300
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0150000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt12300
IRS990/OtherRevenueTotalAmt0152300
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0204758
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0429498
IRS990/OtherSalariesAndWagesGrp/TotalAmt0634256
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt045342
IRS990/PayrollTaxesGrp/TotalAmt045342
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt018923
IRS990/PensionPlanContributionsGrp/TotalAmt018923
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt018750
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt018750
IRS990/PrincipalOfficerNm0Scott Luth
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/Desc0CoLab Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01719
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01719
IRS990/ProgSrvcAccomActy2Grp/Desc0CoLab - Targets early-stage, high growth companies to increase their chance of success by providing shared office space, support services and business coaching. The mission is to act as a catalyst to support innovative entrepreneurs who create jobs and can sustain long-term economic growth for Greater Pensacola.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0182609
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt01719
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01139833
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0-68092
IRS990/PYOtherExpensesAmt0521312
IRS990/PYOtherRevenueAmt08306
IRS990/PYProgramServiceRevenueAmt0107845
IRS990/PYRevenuesLessExpensesAmt0-62394
IRS990/PYSalariesCompEmpBnftPaidAmt0728974
IRS990/PYTotalExpensesAmt01250286
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01187892
IRS990/ReconcilationRevenueExpnssAmt014539
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0500000
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/OnlyInHouseLobbyingInd01
IRS990ScheduleC/SubstantiallyAllDuesNondedInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt023287
IRS990ScheduleD/EquipmentGrp/DepreciationAmt047965
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt071252
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01357412
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-9136
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-9136
IRS990ScheduleD/RevenueSubtotalAmt01381087
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Loss on disposition of property and equipment -9,136.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 4b - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt023287
IRS990ScheduleD/TotalExpensesPerForm990Amt01357412
IRS990ScheduleD/TotalRevenuePerForm990Amt01371951
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01381087
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01357412
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0184123
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt07077
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt029252
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Scott Luth
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0220452
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization has members with voting right and investor members without voting rights.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each member has power to appoint one member of the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A copy of the 990 is presented to the Board for approval before the return is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization uses salary data from ACCE, IEDC and DMO to determine salary ranges. The amounts are re-evaluated every two years.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Organization's governing documents and financial statements are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd01
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00

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