Civic Intelligence

Metro Broward Economic Development Corporation Inc

EIN 65-0200546 • 501(c)3 • Fort Lauderdale, FL

Profile

MBEDCS mission is to be a permanent capital resource in Broward County Florida, and to indirectly contribute to the creation of jobs for low to moderate income individuals

1033 NW 6th Streetste 208Fort Lauderdale, FL 33311

www.metrobroward.org

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2018

Liabilities / Revenue

62nd percentile

0.00x

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

501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

10th percentile

-86%

Higher net margin than 10% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

94th percentile

$55,000

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 192.3% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

10th percentile

-100%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

15th percentile

-60%

Faster revenue growth than 15% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $817,496 (-100%) from 2017

Liabilities

Down

$0

Down $176,947 (-100%) from 2017

Net Assets

Down

$0

Down $640,549 (-100%) from 2017

Operations
Liabilities / Revenue62nd percentileNet Margin10th percentile

Revenue

Down

$28,601

Down $43,525 (-60%) from 2017

Expenses

Down

$53,182

Down $79,511 (-60%) from 2017

Net Income

Up

-$24,581

Up $35,986 (+59%) from 2017

Trend Graphs

Balance Sheet Trend

Asset Growth10th percentile

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

$1.5M$1.0M$500K$0Assets 2010: $1,006,158Liabilities 2010: $382,585Net Assets 2010: $623,5732010Assets 2011: $1,134,450Liabilities 2011: $403,436Net Assets 2011: $731,0142011Assets 2012: $1,233,294Liabilities 2012: $362,958Net Assets 2012: $870,3362012Assets 2013: $1,367,458Liabilities 2013: $385,775Net Assets 2013: $981,6832013Assets 2015: $874,914Liabilities 2015: $158,853Net Assets 2015: $716,0612015Assets 2016: $862,646Liabilities 2016: $161,530Net Assets 2016: $701,1162016Assets 2017: $817,496Liabilities 2017: $176,947Net Assets 2017: $640,5492017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2018

Assets$0
Liabilities$0
Net Assets$0
Open 2018 Filing

Operations Trend

Revenue Growth15th percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $370,0642010Revenue 2011: $387,243Expenses 2011: $279,802Net Income 2011: $107,4412011Expenses 2012: $280,8332012Revenue 2013: $491,081Expenses 2013: $379,734Net Income 2013: $111,3472013Revenue 2015: $125,329Expenses 2015: $200,172Net Income 2015: -$74,8432015Revenue 2016: $144,036Expenses 2016: $158,981Net Income 2016: -$14,9452016Revenue 2017: $72,126Expenses 2017: $132,693Net Income 2017: -$60,5672017Revenue 2018: $28,601Expenses 2018: $53,182Net Income 2018: -$24,5812018

Highlighted filing

2018

Revenue$28,601
Expenses$53,182
Net Income-$24,581
Open 2018 Filing

Filings

Most recent year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$28,601
Expenses
$53,182
Net income
-$24,581
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.03$0.05$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.82$0.18$0.64$0.07$0.13$0.06
2016Detailed filing. Detailed filing data is available for this year.$0.86$0.16$0.70$0.14$0.16$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.87$0.16$0.72$0.13$0.20$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.37$0.39$0.98$0.49$0.38$0.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.36$0.87$0.28
2011Summary only. Only limited summary data is available for this year.$1.13$0.40$0.73$0.39$0.28$0.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.01$0.38$0.62$0.37
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Mar 1, 2017 to Feb 28, 2018
Signed
Mar 16, 2018
Return Version
2017v2.0
Gross Receipts
$28,601
Mission and Program Overview

Mission

MBEDCS mission is to be a permanent capital resource in Broward County Florida, and to indirectly contribute to the creation of jobs for low to moderate income individuals

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$465,910$0▼ $465,910
Other Notes and Loans Receivable, Net$300,144$0▼ $300,144
Savings and Temporary Cash Investments$41,308$0▼ $41,308
Accounts Receivable$7,412$0▼ $7,412
Prepaid Expenses and Deferred Charges$922$0▼ $922
Total Assets$817,496$0▼ $817,496
Other Assets Total$1,800$0▼ $1,800
Liabilities
Mortgage Notes Payable Secured by Investment Property$139,447$0▼ $139,447
Deferred Revenue$24,020--
Accounts Payable and Accrued Expenses$13,480$0▼ $13,480
Total Liabilities$176,947$0▼ $176,947
Net Assets / Fund Balance
Unrestricted Net Assets$338,605--
Temporarily Rstr Net Assets$301,944--
Total Net Assets Fund Balance$640,549$0▼ $640,549
Total Liabilities and Net Assets / Fund Balance$817,496$0▼ $817,496
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Michael E CarnCEOFT$55,000$55,000

Board Members and Trustees

NameTitle
Vivian PorcelliChair
Kenneth BingerVice Chair
James DrakeMember
Mary Ann CruzMember
George GremseSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$22,204
Program Service Revenue
$0
Investment Income
$6,017
Other Revenue
$380
All Other Contributions
$22,204
Change in Net Assets
$-24,581
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$29,264
Salaries, Compensation, and Employee Benefits$23,918
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$22,212-$22,212
Fees for Services Accounting-$12,620-$12,620
Occupancy-$9,000-$9,000
All Other Expenses-$3,062-$3,062
Fees for Services Legal-$3,050-$3,050
Payroll Taxes-$1,706-$1,706
Fees for Services Other-$844-$844
Insurance-$247-$247
Information Technology-$221-$221
Office Expenses-$162-$162
Interest-$58-$58
Total Functional Expenses$0$53,182$0$53,182
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Section C, Line 19

“Governing documents, conflict of interest policy, and financial statements are available for public inspection in the offices of metro broward upon request.”

PART VI, SECTION B, LINE 12C

“The conflict of interest policy is written, and included as part of the agenda for each annual board meeting. Board members are required to review the document, sign an acknowledgement of thier receipt, clear comprehension, and commitment to adherence to its policies. New members not present at the annual meeting are subject to these proceedures during their orientation.”

PART VI, SECTION B, LINE 15A

“The board sets compensation for the ceo based on environmental scan of the industry, and ceo performance to determine the raise and bonus levels. Metro broward staff presents hiring request in the form of job descriptions with budgetary justifications to the board. The board approves hiring and compensation.”

Filing and Contact Details

Filer

Filer Name
Metro Broward Economic Development Corporation Inc
EIN
65-0200546
In Care Of
% % MICHAEL E CARN
Phone
9545873755
Address
1033 NW 6TH STREETSTE 208, FORT LAUDERDALE, FL 33311
Doing Business As
Metro Broward Economic Development Corporation Inc

Signing Officer

Name
Michael E Carn
Title
CEO
Phone
9545873755
Signed
2018-03-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael E Carn
Formed
1990
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
1
Volunteers
0

Preparer

Firm
Taste of Freedom Inc
Address
PO BOX 1113, DEERFIELD BEACH, FL 33443
Preparer
Dannie L Rivers
Phone
3057932301
Supplemental Narrative

Additional Explanations

Part III, Line 3

“Metro broward was disolved effective 12/31/2017.”

Raw XML Appendix391 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0CASH / RECEIVABLES / FIXED ASSETS
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0BLACK BUSINESS INVESTMENT FUND INC
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02018-02-28
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0592861155
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt0771948
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0501c(4)
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0BOOK VALUE METHOD
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt0301 EAST PINE STREET
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine2Txt0STE 175
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0ORLANDO
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0FL
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd032801
IRS990ScheduleN/EmployeeOfSuccessor2Ind01
IRS990ScheduleN/EmployeeOfSuccessorInd01
IRS990ScheduleN/LiabilitiesPaidInd01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0CASH / RECEIVABLES / FIXED ASSETS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0BLACK BUSINESS INVESTMENT FUND INC
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02018-02-28
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0592861155
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt0771948
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501c(4)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0BOOK VALUE METHOD
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt0301 EAST PINE STREET
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine2Txt0STE 175
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0ORLANDO
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0FL
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd032801
IRS990ScheduleN/OwnerOfSuccessor2Ind00
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensation2Ind00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0METRO BROWARD WAS DISOLVED EFFECTIVE 12/31/2017.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION IN THE OFFICES OF METRO BROWARD UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS WRITTEN, AND INCLUDED AS PART OF THE AGENDA FOR EACH ANNUAL BOARD MEETING. BOARD MEMBERS ARE REQUIRED TO REVIEW THE DOCUMENT, SIGN AN ACKNOWLEDGEMENT OF THIER RECEIPT, CLEAR COMPREHENSION, AND COMMITMENT TO ADHERENCE TO ITS POLICIES. NEW MEMBERS NOT PRESENT AT THE ANNUAL MEETING ARE SUBJECT TO THESE PROCEEDURES DURING THEIR ORIENTATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD SETS COMPENSATION FOR THE CEO BASED ON ENVIRONMENTAL SCAN OF THE INDUSTRY, AND CEO PERFORMANCE TO DETERMINE THE RAISE AND BONUS LEVELS. METRO BROWARD STAFF PRESENTS HIRING REQUEST IN THE FORM OF JOB DESCRIPTIONS WITH BUDGETARY JUSTIFICATIONS TO THE BOARD. THE BOARD APPROVES HIRING AND COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI, SECTION B, LINE 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI, SECTION B, LINE 15a
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0301944
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt0817496
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt0817496
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt022204
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt053182
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt053182
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0176947
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt0176947
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0640549
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalReportableCompFromOrgAmt055000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt06397
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt028601
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0817496
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0338605
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01033 NW 6TH STREET
IRS990/USAddress/AddressLine2Txt0STE 208
IRS990/USAddress/CityNm0FORT LAUDERDALE
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033311
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL E CARN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum09545873755
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0METRO BROWARD ECONOMIC DEVELOPMENT CORPORATION INC
ReturnHeader/Filer/BusinessNameControlTxt0METR
ReturnHeader/Filer/EIN0650200546
ReturnHeader/Filer/InCareOfNm0% % MICHAEL E CARN
ReturnHeader/Filer/PhoneNum09545873755
ReturnHeader/Filer/USAddress/AddressLine1Txt01033 NW 6TH STREETSTE 208
ReturnHeader/Filer/USAddress/CityNm0FORT LAUDERDALE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033311
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0650566875
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TASTE OF FREEDOM INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1113
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DEERFIELD BEACH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033443
ReturnHeader/PreparerPersonGrp/PhoneNum03057932301
ReturnHeader/PreparerPersonGrp/PreparationDt02018-03-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DANNIE L RIVERS
ReturnHeader/ReturnTs02018-03-16T01:18:40-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-10-01
ReturnHeader/TaxPeriodEndDt02018-02-28
ReturnHeader/TaxYr02017

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