Civic Intelligence

Lake Economic Development Corporation

EIN 88-1275204 • 501(c)6 • Leesburg, FL

Profile

The Lake Economic Area Development (LEAD) Partnership is a public/ private organization created and designed to lead efforts in further growing, diversifying and uniting the Lake County, FL regional economy.

600 Market StreetLeesburg, FL 34748

n/A

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.12x

Higher debt load relative to assets than 63% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

57th percentile

0.08x

Higher debt load relative to revenue than 57% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Net Margin

69th percentile

11%

Higher net margin than 69% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Asset Growth

92nd percentile

43%

Faster asset growth than 92% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

65th percentile

11%

Faster revenue growth than 65% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$450,200

Up $136,114 (+43%) from 2023

Liabilities

Up

$55,566

Up $55,566 from 2023

Net Assets

Up

$394,634

Up $80,548 (+26%) from 2023

Operations
Liabilities / Revenue57th percentileNet Margin69th percentile

Revenue

Up

$715,275

Up $73,578 (+11%) from 2023

Expenses

Up

$634,727

Up $46,352 (+7.9%) from 2023

Net Income

Up

$80,548

Up $27,226 (+51%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth92nd percentile

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

$600K$400K$200K$0Assets 2023: $314,086Liabilities 2023: $0Net Assets 2023: $314,0862023Assets 2024: $450,200Liabilities 2024: $55,566Net Assets 2024: $394,6342024

Highlighted filing

2024

Assets$450,200
Liabilities$55,566
Net Assets$394,634
Open 2024 Filing

Operations Trend

Revenue Growth65th percentile

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

$800K$600K$400K$200K$0Revenue 2023: $641,697Expenses 2023: $588,375Net Income 2023: $53,3222023Revenue 2024: $715,275Expenses 2024: $634,727Net Income 2024: $80,5482024

Highlighted filing

2024

Revenue$715,275
Expenses$634,727
Net Income$80,548
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$450,200
Liabilities
$55,566
Net assets
$394,634
Revenue
$715,275
Expenses
$634,727
Net income
$80,548
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.50$0.56$3.95$7.15$6.35$0.81
2023Summary only. Only limited summary data is available for this year.$3.14$0.00$3.14$6.42$5.88$0.53
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Jun 11, 2025
Return Version
2023v6.0
Gross Receipts
$715,275
Mission and Program Overview

Mission

The lake economic area development (lead) partnership is a public/private organization created and designed to lead efforts in further growing, diversifying and uniting the lake county fl regional economy.

The Lake Economic Area Development (LEAD) Partnership is a public/ private organization created and designed to lead efforts in further growing, diversifying and uniting the Lake County, FL regional economy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$167,416$296,199▲ $128,783
Accounts Receivable$146,500$154,001▲ $7,501
Prepaid Expenses and Deferred Charges$170--
Total Assets$314,086$450,200▲ $136,114
Liabilities
Accounts Payable and Accrued Expenses-$48,166-
Deferred Revenue-$7,400-
Total Liabilities$0$55,566▲ $55,566
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$314,086$394,634▲ $80,548
Total Net Assets Fund Balance$314,086$394,634▲ $80,548
Total Liabilities and Net Assets / Fund Balance$314,086$450,200▲ $136,114
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Abel BiriChairman
Ben PauluhnImmediate Past Chair
Brad WeberVice-Chairman
Al MinnerDirector
Chris CreechDirector
Dan TatroDirector
Davis TalmageDirector
Duanne BoothDirector
Jeff CaganDirector
Joe CiceriDirector
Kathy JudkinsDirector
Lance SewellDirector
Marc HoenstineDirector
Mike DuffieldDirector
Pam RivasDirector
Phil BraunDirector
Stacy SewellDirector
Will ParsonsDirector
Don RobuckSecretary
Christian MillerTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Ocala-Marion County Chamber of CommManagement services310 SE 3rd Street, Ocala, FL 34471$440,999
Revenue and Support

Revenue Composition

Contributions and Grants
$715,275
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$75
Change in Net Assets
$80,548
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$634,727
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$440,999$0$0$440,999
All Other Expenses$191,535$0$0$191,535
Insurance$2,193$0$0$2,193
Total Functional Expenses$634,727$0$0$634,727
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Lake Economic Development Corporation
EIN
88-1275204
Phone
3527644123
Address
600 Market Street, Leesburg, FL 34748

Signing Officer

Name
Abel Biri
Title
Chairman
Phone
3527644123
Signed
2025-06-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Abel Biri
Formed
2022
Legal Domicile
Fl
Voting Board Members
20
Independent Board Members
20
Employees
0
Volunteers
0

Preparer

Firm
Day & Day Pa
Address
2801 SW COLLEGE RD 13, OCALA, FL 34474
Preparer
Douglas Day
Phone
3522376161
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The Form 990 is reviewed by the Executive Committee of the Board of Directors prior to signing and submitting the form.”

Pt VI, Line 15A

“The process for determining compensation of employees includes a review and approval by the board of directors and includes comparability data and substantiation of the deliberation and decision.”

Pt VI, Line 15B

“The process for determining compensation of officers includes review and approval by the board of director and includes comparability data and substantiation of the deliberation and decision.”

Form 990, Part III, Line 4D

“Business support - Provide various support services 133086.”

Form 990, Part IX, Line 24E

“Internet expenses 3587. 3587. 0. 0.”

Form 990, Part IX, Line 24E

“Investor support 44385. 44385. 0. 0.”

Form 990, Part IX, Line 24E

“Memberships 3069. 3069. 0. 0.”

Form 990, Part IX, Line 24E

“Miscellaneous 1087. 1087. 0. 0.”

Form 990, Part IX, Line 24E

“Office supplies 2121. 2121. 0. 0.”

Form 990, Part IX, Line 24E

“Professional fees 11448. 11448. 0. 0.”

Form 990, Part IX, Line 24E

“Program expenses 119732. 119732. 0. 0.”

Form 990, Part IX, Line 24E

“Technology and equipment 6012. 6012. 0. 0.”

Form 990, Part IX, Line 24E

“Taxes 94. 94. 0. 0.”

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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt00
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueTotalAmt00
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0170
IRS990/PrincipalOfficerNm0Abel Biri
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0Business creation - efforts to attract, grow and graduate early stage companies in a business incubator environment.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0155873
IRS990/ProgSrvcAccomActy3Grp/Desc0Business retention - to engage all participants and ensure that partners needs are met through structed networking and forums, talent and workforce development and educational oppotunities.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0132919
IRS990/ProgSrvcAccomActyOtherGrp/Desc0Business support - Provide various support services to partners, investors and clients
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0133086
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0633397
IRS990/PYOtherExpensesAmt0588375
IRS990/PYProgramServiceRevenueAmt08300
IRS990/PYRevenuesLessExpensesAmt053322
IRS990/PYTotalExpensesAmt0588375
IRS990/PYTotalRevenueAmt0641697
IRS990/ReconcilationRevenueExpnssAmt080548
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ScheduleBRequiredInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 is reviewed by the Executive Committee of the Board of Directors prior to signing and submitting the form.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The process for determining compensation of employees includes a review and approval by the board of directors and includes comparability data and substantiation of the deliberation and decision.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The process for determining compensation of officers includes review and approval by the board of director and includes comparability data and substantiation of the deliberation and decision.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Business support - Provide various support services 133086.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Internet expenses 3587. 3587. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Investor support 44385. 44385. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Memberships 3069. 3069. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Miscellaneous 1087. 1087. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Office supplies 2121. 2121. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Professional fees 11448. 11448. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Program expenses 119732. 119732. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11Technology and equipment 6012. 6012. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12Taxes 94. 94. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part III, Line 4d
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12Form 990, Part IX, Line 24e
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0314086
IRS990/TotalAssetsEOYAmt0450200
IRS990/TotalAssetsGrp/BOYAmt0314086
IRS990/TotalAssetsGrp/EOYAmt0450200
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0715275
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0634727
IRS990/TotalFunctionalExpensesGrp/TotalAmt0634727
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt055566
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt055566
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0314086
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0394634
IRS990/TotalOtherProgSrvcExpenseAmt0133086
IRS990/TotalProgramServiceExpensesAmt0634727
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0715275
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0314086
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0450200
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0600 Market Street
IRS990/USAddress/CityNm0Leesburg
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd034748
IRS990/VotingMembersGoverningBodyCnt020
IRS990/VotingMembersIndependentCnt020
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Abel Biri
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman
ReturnHeader/BusinessOfficerGrp/PhoneNum03527644123
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-06-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Lake Economic Development Corporation
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
ReturnHeader/Filer/EIN0881275204
ReturnHeader/Filer/PhoneNum03527644123
ReturnHeader/Filer/USAddress/AddressLine1Txt0600 Market Street
ReturnHeader/Filer/USAddress/CityNm0Leesburg
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd034748
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0593120387
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DAY & DAY PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02801 SW COLLEGE RD 13
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OCALA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd034474
ReturnHeader/PreparerPersonGrp/PhoneNum03522376161
ReturnHeader/PreparerPersonGrp/PreparationDt02025-08-14

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