Civic Intelligence

Okaloosa Community Development Corp

EIN 59-3165895 • 501(c)3 • Fort Walton Beach, FL

Profile

To provide for redevelopment, promotion, and rehabilitation of the cultural, historical, social, physical and economic aspects of okaloosa county, florida.

PO Box 2707Fort Walton Beach, FL 32549

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

50th percentile

0.13x

Higher debt load relative to assets than 50% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

67th percentile

0.33x

Higher debt load relative to revenue than 67% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

28th percentile

-3.7%

Higher net margin than 28% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

27th percentile

$48,777

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

24th percentile

-3.5%

Faster asset growth than 24% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

12th percentile

-24%

Faster revenue growth than 12% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Down

$5,445,394

Down $194,767 (-3.5%) from 2016

Liabilities

Down

$689,152

Down $117,935 (-15%) from 2016

Net Assets

Down

$4,756,242

Down $76,832 (-1.6%) from 2016

Revenue

Down

$2,079,191

Down $644,203 (-24%) from 2016

Expenses

Up

$2,156,023

Up $198,674 (+10%) from 2016

Net Income

Down

-$76,832

Down $842,877 (-110%) from 2016

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $4,670,561Liabilities 2011: $447,845Net Assets 2011: $4,222,7162011Assets 2012: $6,487,627Liabilities 2012: $927,552Net Assets 2012: $5,560,0752012Assets 2013: $4,652,698Liabilities 2013: $467,166Net Assets 2013: $4,185,5322013Assets 2014: $4,581,181Liabilities 2014: $609,270Net Assets 2014: $3,971,9112014Assets 2015: $4,706,908Liabilities 2015: $537,543Net Assets 2015: $4,169,3652015Assets 2016: $5,640,161Liabilities 2016: $807,087Net Assets 2016: $4,833,0742016Assets 2017: $5,445,394Liabilities 2017: $689,152Net Assets 2017: $4,756,2422017

Highlighted filing

2017

Assets$5,445,394
Liabilities$689,152
Net Assets$4,756,242

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $793,9652011Revenue 2012: $506,326Expenses 2012: $655,141Net Income 2012: -$148,8152012Expenses 2013: $3,005,6582013Revenue 2014: $889,198Expenses 2014: $1,102,819Net Income 2014: -$213,6212014Revenue 2015: $1,709,657Expenses 2015: $1,512,203Net Income 2015: $197,4542015Revenue 2016: $2,723,394Expenses 2016: $1,957,349Net Income 2016: $766,0452016Revenue 2017: $2,079,191Expenses 2017: $2,156,023Net Income 2017: -$76,8322017

Highlighted filing

2017

Revenue$2,079,191
Expenses$2,156,023
Net Income-$76,832

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.0
Gross Receipts
$2,105,676
Mission and Program Overview

Mission

To provide for redevelopment, promotion, and rehabilitation of the cultural, historical, social, physical and economic aspects of Okaloosa County, Florida.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,474,027$4,493,016▲ $18,989
Cash and Non-Interest-Bearing Accounts$329,322$371,099▲ $41,777
Investments Program Related$294,708$294,707▼ $1
Accounts Receivable$491,091$215,379▼ $275,712
Prepaid Expenses and Deferred Charges$50,236$50,235▼ $1
Total Assets$5,640,161$5,445,394▼ $194,767
Other Assets Total$777$20,958▲ $20,181
Liabilities
Mortgage Notes Payable Secured by Investment Property$349,052$414,159▲ $65,107
Accounts Payable and Accrued Expenses$289,859$153,771▼ $136,088
Other Liabilities$126,968$71,115▼ $55,853
Escrow Account Liability$41,208$50,107▲ $8,899
Total Liabilities$807,087$689,152▼ $117,935
Net Assets / Fund Balance
Temporarily Rstr Net Assets$4,133,879$4,133,879→ $0
Unrestricted Net Assets$699,195$622,363▼ $76,832
Total Net Assets Fund Balance$4,833,074$4,756,242▼ $76,832
Total Liabilities and Net Assets / Fund Balance$5,640,161$5,445,394▼ $194,767

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,867,339$884,856$3,752,195
Other Land Buildings$925,073$11,825$936,898
Land$696,042-$696,042
Equipment$4,562$117,158$121,720
Investment Program Related Org$14,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
James RobbinsExecutive DirectorFT$48,777$48,777

Board Members and Trustees

NameTitle
Aaron WentzChairman
Tammy McGaughyCo Chairman
Abra McGillDirector
Amy JamiesonDirector
Don JerniganDirector
Gail SansburyDirector
Gary McMorrowDirector
Ken LapeeDirector
Linnette KellarDirector
Maryann HelfrichDirector
Robert SaxerDirector
Sheri AlbrightDirector
Stefani RaulersonDirector
Tracie WilliamsDirector
Edna EvansHonorary member
Nate SmithSecretary
Michael KentTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,083,446
Program Service Revenue
$784,276
Investment Income
$233
Other Revenue
$211,236
Change in Net Assets
$-76,832
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,845,624
Salaries, Compensation, and Employee Benefits$310,399
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$21,999$288,400-$310,399
Fees for Services Other$94,423$48,832-$143,255
Other Expenses$98,188$86,313-$98,188
Depreciation Depletion$72,666$13,632-$86,298
Occupancy$28,109$30,546-$58,655
Insurance$50,469--$50,469
Interest-$35,938-$35,938
Fees for Services Accounting-$28,304-$28,304
Travel$1,365$8,692-$10,057
All Other Expenses$6,497$91-$6,588
Office Expenses$165$5,321-$5,486
Total Functional Expenses$1,609,954$546,069$0$2,156,023
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lines of Credit$39,947
Due to other entities$21,581
Payroll Liabilities$9,587
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, line 2

Tammy McGaughy, a member of the Board's management team, is a member with the CPA firm, Warren Averett, LLC, that performs the audit of a housing project managed by Progressive Management of America that is managed by Michael Kent, also a member of the Board's management team.

Form 990, Part VI, Section A, line 3

The organization hired Jim Robbins as executive director to perform management duties.

Form 990, Part VI, Section A, line 6

The Board of Directors serve as members of the organization.

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

The management team is provided a draft of the 990 for review and input, and approval retained via motion to accept annual tax return.

Form 990, Part VI, Section B, line 12C

Conflict of interest policy adopted in December 2008. Communication of conflict made during board meeting in past. Policy to be circulated annually for updates.

Form 990, Part VI, Section B, line 15

Compensation of Executive Director is evaluated during annual budget process. The amount includes base salary plus benefits.

Form 990, Part VI, Section C, line 19

Available upon request

Filing and Contact Details

Filer

Filer Name
Okaloosa Community Development Corp
EIN
59-3165895
Phone
8508631969
Address
PO Box 2707, Fort Walton Beach, FL 32549

Signing Officer

Name
James Robbins
Title
Executive Director
Phone
8506646000
Signed
2018-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Robbins
Formed
1993
Legal Domicile
Fl
Voting Board Members
17
Independent Board Members
17
Employees
11
Volunteers
12

Preparer

Firm
Warren Averett LLC
Address
45 Eglin Parkway Suite 301, Ft Walton Beach, FL 32548
Preparer
Kelley Chamblin CPA
Phone
8502445121
Supplemental Narrative

Financial Statement Notes

Part IV, Line 2B:

The NSP rental program activity holds tenant security deposits on rented units.

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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt014154
IRS990/NetRentalIncomeOrLossGrp/UnrelatedBusinessRevenueAmt014154
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt030546
IRS990/OccupancyGrp/ProgramServicesAmt028109
IRS990/OccupancyGrp/TotalAmt058655
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt05321
IRS990/OfficeExpensesGrp/ProgramServicesAmt0165
IRS990/OfficeExpensesGrp/TotalAmt05486
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0777
IRS990/OtherAssetsTotalGrp/EOYAmt020958
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Rehab Expense
IRS990/OtherExpensesGrp/Desc1Repairs and Maintenance
IRS990/OtherExpensesGrp/Desc2Administrative Fees
IRS990/OtherExpensesGrp/Desc3Down Payment/Closing Co
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt086313
IRS990/OtherExpensesGrp/ProgramServicesAmt0933441
IRS990/OtherExpensesGrp/ProgramServicesAmt1268664
IRS990/OtherExpensesGrp/ProgramServicesAmt233968
IRS990/OtherExpensesGrp/ProgramServicesAmt398188
IRS990/OtherExpensesGrp/TotalAmt0933441
IRS990/OtherExpensesGrp/TotalAmt1268664
IRS990/OtherExpensesGrp/TotalAmt2120281
IRS990/OtherExpensesGrp/TotalAmt398188
IRS990/OtherLiabilitiesGrp/BOYAmt0126968
IRS990/OtherLiabilitiesGrp/EOYAmt071115
IRS990/OtherRevenueMiscGrp/BusinessCd0531390
IRS990/OtherRevenueMiscGrp/Desc0Miscellaneous
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0197082
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0197082
IRS990/OtherRevenueTotalAmt0197082
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0288400
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt021999
IRS990/OtherSalariesAndWagesGrp/TotalAmt0310399
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt050236
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt050235
IRS990/PrincipalOfficerNm0James Robbins
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531390
IRS990/ProgramServiceRevenueGrp/BusinessCd1531390
IRS990/ProgramServiceRevenueGrp/BusinessCd2531390
IRS990/ProgramServiceRevenueGrp/Desc0NSP Properties
IRS990/ProgramServiceRevenueGrp/Desc1Ship Loan Repayments
IRS990/ProgramServiceRevenueGrp/Desc2Hardest Hit Program
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0672091
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt167775
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt244410
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0672091
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt167775
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt244410
IRS990/ProgSrvcAccomActy2Grp/Desc0Neighborhood Stabilization Program (NSP). The Okaloosa CDC serves in a developer capacity for the NSP program awarded through Okaloosa County. The NSP program funds the purchase and redevelopment of foreclosed and abandoned homes and residential properties which are used to house individuals or families whose incomes fall within the very low, low, and moderate income levels of the areas medium income.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0499086
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0672091
IRS990/ProgSrvcAccomActy3Grp/Desc0Independent Living Program provides rental and counseling assistance to qualified tenants.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0450787
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt00
IRS990/ProgSrvcAccomActyOtherGrp/Desc0Other program services, including Harbour Place Apartments, LLC which was organized for the purpose of construction of affordable housing units for the homeless in Okaloosa County. The Okaloosa CDC partnered with the Coalition for the Homesless (d/b/a Fresh Start) to reconstruct a 10 unit facility as Phase I of transitional housing units. The Okaloosa CDC has also partnered with Fresh Start to begin construction on Phase II of the Apartment Complex. Phase II will consist of 10 units adjacent from the existing transitional property.
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt0197082
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01317947
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0113
IRS990/PYOtherExpensesAmt01835019
IRS990/PYOtherRevenueAmt035266
IRS990/PYProgramServiceRevenueAmt01370068
IRS990/PYRevenuesLessExpensesAmt0766045
IRS990/PYSalariesCompEmpBnftPaidAmt0122330
IRS990/PYTotalExpensesAmt01957349
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02723394
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-76832
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt014154
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt0112185
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01083446
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01317947
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0936631
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0309140
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01065852
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt04713016
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0672324
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01327371
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0501721
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0462152
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0415193
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt03378761
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0445641
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0197082
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt019746
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0200195
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt041639
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt048708
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0507370
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.54810
IRS990ScheduleA/PublicSupportPY170Pct00.56030
IRS990ScheduleA/PublicSupportTotal170Amt04713016
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01083446
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01317947
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0936631
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0309140
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01065852
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04713016
IRS990ScheduleA/TotalSupportAmt08599147
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02867339
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0884856
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03752195
IRS990ScheduleD/EquipmentGrp/BookValueAmt04562
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0117158
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0121720
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0280707
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt114000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0Ship Investment in Real estate
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1HOP INvestment in Real Estate
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1F
IRS990ScheduleD/LandGrp/BookValueAmt0696042
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0696042

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