Civic Intelligence

Economic Development Council of Okaloosa County Florida Inc

990 • Fiscal year 2023 • EIN 59-2288214

Oct 01, 2022 to Sep 30, 2023 • Filed on Feb 26, 2024

PO Box 4097Fort Walton Beach, FL 32549

(850) 362-6467

Siviq Scores

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

Liabilities / Assets

48th percentile

0.04x

Higher debt load relative to assets than 48% of similar nonprofits.

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

Liabilities / Revenue

41st percentile

0.02x

Higher debt load relative to revenue than 41% of similar nonprofits.

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

Net Margin

59th percentile

6.6%

Higher net margin than 59% of similar nonprofits.

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

Top Officer Pay

93rd percentile

$187,765

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 26.9% of source-year revenue.

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

Asset Growth

76th percentile

17%

Faster asset growth than 76% of similar nonprofits.

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

Revenue Growth

41st percentile

3.7%

Faster revenue growth than 41% of similar nonprofits.

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

Assets

Up

$324,072

Up $46,057 (+17%) from 2022

Net Assets

Up

$310,723

Up $46,222 (+17%) from 2022

Liabilities

Down

$13,349

Down $165 (-1.2%) from 2022

Revenue

Up

$697,242

Up $24,963 (+3.7%) from 2022

Expenses

Up

$651,020

Up $10,122 (+1.6%) from 2022

Net Income

Up

$46,222

Up $14,841 (+47%) from 2022

Historical Trend

Balance Sheet Trend

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

$400K$300K$200K$100K$0Assets 2010: $269,741Liabilities 2010: $11,308Net Assets 2010: $258,4332010Assets 2011: $193,041Liabilities 2011: $6,099Net Assets 2011: $186,9422011Assets 2012: $185,738Liabilities 2012: $4,568Net Assets 2012: $181,1702012Assets 2013: $167,375Liabilities 2013: $9,143Net Assets 2013: $158,2322013Assets 2014: $186,390Liabilities 2014: $2,587Net Assets 2014: $183,8032014Assets 2015: $208,855Liabilities 2015: $45,895Net Assets 2015: $162,9602015Assets 2016: $223,254Liabilities 2016: $2,649Net Assets 2016: $220,6052016Assets 2017: $246,532Liabilities 2017: $1,534Net Assets 2017: $244,9982017Assets 2018: $231,212Liabilities 2018: $21,491Net Assets 2018: $209,7212018Assets 2019: $227,944Liabilities 2019: $10,625Net Assets 2019: $217,3192019Assets 2020: $257,583Liabilities 2020: $36,951Net Assets 2020: $220,6322020Assets 2021: $289,181Liabilities 2021: $56,061Net Assets 2021: $233,1202021Assets 2022: $278,015Liabilities 2022: $13,514Net Assets 2022: $264,5012022Assets 2023: $324,072Liabilities 2023: $13,349Net Assets 2023: $310,7232023Assets 2024: $335,015Liabilities 2024: $17,954Net Assets 2024: $317,0612024Assets 2025: $355,859Liabilities 2025: $17,214Net Assets 2025: $338,6452025

Highlighted filing

2023

Assets$324,072
Liabilities$13,349
Net Assets$310,723

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,050,4382010Expenses 2011: $643,4002011Expenses 2012: $574,2232012Revenue 2013: $487,641Expenses 2013: $510,576Net Income 2013: -$22,9352013Revenue 2014: $611,827Expenses 2014: $586,256Net Income 2014: $25,5712014Revenue 2015: $766,443Expenses 2015: $787,285Net Income 2015: -$20,8422015Revenue 2016: $768,001Expenses 2016: $710,356Net Income 2016: $57,6452016Revenue 2017: $802,655Expenses 2017: $778,262Net Income 2017: $24,3932017Revenue 2018: $565,009Expenses 2018: $600,286Net Income 2018: -$35,2772018Revenue 2019: $597,722Expenses 2019: $590,122Net Income 2019: $7,6002019Revenue 2020: $604,415Expenses 2020: $601,102Net Income 2020: $3,3132020Revenue 2021: $579,069Expenses 2021: $566,581Net Income 2021: $12,4882021Revenue 2022: $672,279Expenses 2022: $640,898Net Income 2022: $31,3812022Revenue 2023: $697,242Expenses 2023: $651,020Net Income 2023: $46,2222023Revenue 2024: $680,589Expenses 2024: $674,251Net Income 2024: $6,3382024Revenue 2025: $709,701Expenses 2025: $688,117Net Income 2025: $21,5842025

Highlighted filing

2023

Revenue$697,242
Expenses$651,020
Net Income$46,222
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Feb 26, 2024
Return Version
2022v5.0
Gross Receipts
$747,382
Mission and Program Overview

Mission

To further economic development within okaloosa county

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$256,445$277,573▲ $21,128
Accounts Receivable$19,400$41,999▲ $22,599
Prepaid Expenses and Deferred Charges$2,000$4,500▲ $2,500
Pledges and Grants Receivable$170--
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$278,015$324,072▲ $46,057
Liabilities
Accounts Payable and Accrued Expenses$13,514$13,349▼ $165
Total Liabilities$13,514$13,349▼ $165
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$264,501$310,723▲ $46,222
Total Net Assets Fund Balance$264,501$310,723▲ $46,222
Total Liabilities and Net Assets / Fund Balance$278,015$324,072▲ $46,057

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$17,980$17,980
Other Land Buildings$0$1,407$1,407
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Samuel Nathan SparksExecutive DirectorFT$141,825$45,940$187,765

Board Members and Trustees

NameTitle
Jillian McqueenChairman
Leslie SheekleyPast-chairman
Chad VuyovichVice-chair
Michele BurnsCareer Source Ex Officio
Nathan BoylesCounty Representative
Nic DezinskiMember-at-larage
Devin Stephenson EddNwfsc Ex Officio
Marcus ChambersPublic School Ex Officio
Neko StubblefieldSecretary
Mike Mosley PhdTreasurer
Bernard JohnsonUtilities Ex Officio
Gordon KingUtilities Ex Officio
Steve RhodesUtilities Ex Officio
Melinda Bowers EddUwf Ex Officio
Revenue and Support

Revenue Composition

Contributions and Grants
$663,873
Program Service Revenue
$7,374
Investment Income
$0
Other Revenue
$25,995
All Other Contributions
$253,125
Change in Net Assets
$46,222
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$392,529
Other Expenses$258,491
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$175,034--$175,034
Other Salaries and Wages$141,969--$141,969
All Other Expenses$50,500--$50,500
Conferences and Meetings$48,555--$48,555
Other Employee Benefits$34,231--$34,231
Payroll Taxes$24,795--$24,795
Fees for Services Accounting$21,562--$21,562
Pension Plan Contributions$16,500--$16,500
Other Expenses$14,021--$14,021
Office Expenses$13,834--$13,834
Occupancy$4,800--$4,800
Insurance$4,334--$4,334
Total Functional Expenses$651,020$0$0$651,020
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$76,113
Fundraising Direct Expenses$50,140
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Industry Day$76,113$76,113$50,140$25,973
Total Events$76,113$76,113$50,140$25,973
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
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 B, Line 11B

Form 990 is reviewed by bookkeeper, budget manager, executive director and chairman.

Form 990, Part VI, Section C, Line 19

All documents available upon request

Filing and Contact Details

Filer

Filer Name
Economic Development Council
EIN
59-2288214
Phone
8503626467
Address
PO BOX 4097, FORT WALTON BEACH, FL 32549
Doing Business As
One Okaloosa

Signing Officer

Name
Nathan Sparks
Title
Executive Director
Phone
8503626467
Signed
2024-02-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nathan Sparks
Formed
1997
Legal Domicile
Fl
Voting Board Members
15
Independent Board Members
14
Employees
4
Volunteers
14

Preparer

Firm
Carr Riggs & Ingram LLC
Address
500 GRAND BOULEVARD SUITE 210, MIRAMAR BEACH, FL 32550
Preparer
Stephen C Riggs
Phone
8508373141
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IRS990/OtherExpensesGrp/Desc3DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/ProgramServicesAmt052762
IRS990/OtherExpensesGrp/ProgramServicesAmt131454
IRS990/OtherExpensesGrp/ProgramServicesAmt216669
IRS990/OtherExpensesGrp/ProgramServicesAmt314021
IRS990/OtherExpensesGrp/TotalAmt052762
IRS990/OtherExpensesGrp/TotalAmt131454
IRS990/OtherExpensesGrp/TotalAmt216669
IRS990/OtherExpensesGrp/TotalAmt314021
IRS990/OtherRevenueMiscGrp/BusinessCd0541900
IRS990/OtherRevenueMiscGrp/Desc0BANK & ACCOUNTING
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt022
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt022
IRS990/OtherRevenueTotalAmt022
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0141969
IRS990/OtherSalariesAndWagesGrp/TotalAmt0141969
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt024795
IRS990/PayrollTaxesGrp/TotalAmt024795
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt016500
IRS990/PensionPlanContributionsGrp/TotalAmt016500
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0170
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02000
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04500
IRS990/PrincipalOfficerNm0NATHAN SPARKS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0541900
IRS990/ProgramServiceRevenueGrp/Desc0ROUNDTABLE INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt07374
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt07374
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0664289
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0240488
IRS990/PYOtherRevenueAmt04700
IRS990/PYProgramServiceRevenueAmt03290
IRS990/PYRevenuesLessExpensesAmt031381
IRS990/PYSalariesCompEmpBnftPaidAmt0400410
IRS990/PYTotalExpensesAmt0640898
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0672279
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt046222
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt07396
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/OnlyInHouseLobbyingInd00
IRS990ScheduleC/SubstantiallyAllDuesNondedInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt017980
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt017980
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01407
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01407
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt050140
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0INDUSTRY DAY
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt076113
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt076113
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt076113
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt076113
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt025973
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt050140
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt050140
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0141825
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount015000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt07158
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt016582
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt07200
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SAMUEL NATHAN SPARKS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0187765
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY BOOKKEEPER, BUDGET MANAGER, EXECUTIVE DIRECTOR AND CHAIRMAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DOCUMENTS AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd01
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0278015
IRS990/TotalAssetsEOYAmt0324072
IRS990/TotalAssetsGrp/BOYAmt0278015
IRS990/TotalAssetsGrp/EOYAmt0324072
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0663873
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0651020
IRS990/TotalFunctionalExpensesGrp/TotalAmt0651020
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013514
IRS990/TotalLiabilitiesEOYAmt013349
IRS990/TotalLiabilitiesGrp/BOYAmt013514
IRS990/TotalLiabilitiesGrp/EOYAmt013349
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0264501
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0310723
IRS990/TotalOtherCompensationAmt023740
IRS990/TotalProgramServiceExpensesAmt0651020
IRS990/TotalProgramServiceRevenueAmt07374
IRS990/TotalReportableCompFromOrgAmt0164025
IRS990/TotalRevenueGrp/ExclusionAmt025973
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07396
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0697242
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.36$0.02$0.34$0.71$0.69$0.02
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.34$0.02$0.32$0.68$0.67$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.32$0.01$0.31$0.70$0.65$0.05
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.28$0.01$0.26$0.67$0.64$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.29$0.06$0.23$0.58$0.57$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.26$0.04$0.22$0.60$0.60$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.23$0.01$0.22$0.60$0.59$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.23$0.02$0.21$0.57$0.60$0.04
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.25$0.00$0.24$0.80$0.78$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.22$0.77$0.71$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.21$0.05$0.16$0.77$0.79$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.19$0.00$0.18$0.61$0.59$0.03
2013Summary only. Only limited summary data is available for this year.$0.17$0.01$0.16$0.49$0.51$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.19$0.00$0.18$0.57
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.19$0.01$0.19$0.64
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.27$0.01$0.26$1.05