BUSINESS DEVELOPMENT CORPORATION OF NORTHEAST FLORIDA INC

Address
6850 BELFORT OAKS PLACE
JACKSONVILLE, FL 32216
Contact
Phone: +1 (904) 724-7455
Nonprofit
NTEE: S43 - Management Services for Small Business, Entrepreneurs
EIN: 59-3156354

Mission

TO FURTHER ECONOMIC DEVELOPMENT AND SOCIAL WELL-BEING.
 201420132012
Basic features of the organization
Year of formation1994
Metropolitan statistical area3600
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$43,424.00$121,222.00$93,747.00
Sum of reportable (W2/1099) compensation$43,424.00$102,142.00$93,747.00
Number of employees020
Number of people compensated >$100k010
Number of volunteers07 
Number of highly compensated contractors0  
Personnel
Buck, Lee
TitleBOARD MEMBERBOARD MEMBERBoard Member
Name of key/compensated personLEE BUCKLEE BUCKLee Buck
Position of compensated person
Current officerTrueTrue 
Average hours per week working for org5.005.005.00
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Burke, Robert
TitleTREASURERTREASURERTreasurer
Name of key/compensated personROBERT E BURKEROBERT E BURKERobert E Burke
Position of compensated person
Current officerTrueTrue 
Average hours per week working for org5.005.005.00
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Danzeisen, David
TitleCHAIRMANCHAIRMANChairman
Name of key/compensated personDAVID DANZEISENDAVID DANZEISENDavid Danzeisen
Position of compensated person
Current officerTrueTrueTrue
Average hours per week working for org5.005.005.00
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Dennis, Bonnie
TitleSECRETARYSECRETARYSecretary
Name of key/compensated personBONNIE DENNISBONNIE DENNISBonnie Dennis
Position of compensated person
Current officerTrueTrue 
Average hours per week working for org5.005.005.00
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Kearsey, Grady
TitleVICE CHAIRMANVICE CHAIRMANVice Chairman
Name of key/compensated personGRADY KEARSEYGRADY KEARSEYGrady Kearsey
Position of compensated person
Current officerTrueTrue 
Average hours per week working for org5.005.005.00
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Mahaven, Steve
TitleEXECUTIVE DIRECEXECUTIVE DIRECExecutive Direc
Name of key/compensated personSTEVE MAHAVENSTEVE MAHAVENSteve Mahaven
Position of compensated person
Current officerTrueTrue 
Average hours per week working for org40.0040.0040.00
Reportable compensation from org$43,424.00$102,142.00$93,747.00
Other comp, non-reportable, from org and related orgs$0.00$14,285.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Pringle, Beverly
TitleBOARD MEMBERBOARD MEMBERBoard Member
Name of key/compensated personBEVERLY PRINGLEBEVERLY PRINGLEBeverly Pringle
Position of compensated person
Current officerTrueTrue 
Average hours per week working for org5.005.005.00
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Purpose: mission, activities, & accomplishments
Mission or significant activitiesTO FURTHER ECONOMIC DEVELOPMENT AND SOCIAL WELL BEINGTO FURTHER ECONOMIC DEVELOPEMENT AND SOCIAL WELL BEINGTo further economic development and social well-being.
Program service expenses, total$81,290.00$206,610.00$202,788.00
Programs, including revenue & expenses
IN THE 10 SURROUNDING COUNTIES OF NORTHEAST FLORIDA THE CORPORATION WILL PROMOTE AND ASSIST IN THE GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS, INCLUDING SMALL BUSINESS CONCERNS, AND IN THE DEVELOPMENT OF AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME FAMILIES UNDER FEDERAL, STATE AND COUNTY PROGRAMS.
Program expenses$81,290.00$206,610.00 
Program revenue$58,471.00$139,715.00 
Program descriptionIN THE 10 SURROUNDING COUNTIES OF NORTHEAST FLORIDA THE CORPORATION WILL PROMOTE AND ASSIST IN THE GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS, INCLUDING SMALL BUSINESS CONCERNS, AND IN THE DEVELOPMENT OF AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME FAMILIES UNDER FEDERAL, STATE AND COUNTY PROGRAMS.IN THE 10 SURROUNDING COUNTIES OF NORTHEAST FLORIDA THE CORPORATION WILL PROMOTE AND ASSIST IN THE GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS, INCLUDING SMALL BUSINESS CONCERNS, AND IN THE DEVELOPMENT OF AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME FAMILIES UNDER FEDERAL, STATE AND COUNTY PROGRAMS. 
Increased the SBA 504 loan production in Florida by continuing to provide efficient timely loan production.
Program expenses  $202,788.00
Program description  Increased the SBA 504 loan production in Florida by continuing to provide efficient timely loan production.
Financial data
Revenue
Total revenue$58,471.00$139,715.00$164,932.00
Revenue from contributions (total)$0.00$0.00$0.00
Investment income, current yr$0.00$0.00$352.00
Total revenue from grants, etc., current yr$0.00$0.00$0.00
Total unrelated business revenue$0.00$0.00$0.00
Other revenue, current yr$0.00$0.00$0.00
Net unrelated business taxable revenue$0.00$0.00 
Program service revenue (total)$58,471.00$139,715.00$164,580.00
Gross receipts$58,471.00$139,715.00$164,932.00
Other types of revenue
Royalties (total)  $0.00
Miscellaneous revenue (total)  $0.00
Net revenue from gaming (total)  $0.00
Income from dividends, interest, and similar investments  $352.00
Net rental income$0.00$0.00$0.00
Net income from fundraising events  $0.00
Net inventory sales (total)  $0.00
Expense categories (totals)
Total functional expenses: sum of all$81,290.00$218,480.00$225,318.00
Total functional expenses: program service $81,290.00$206,610.00$202,788.00
Total functional expenses: management and general$0.00$11,870.00$22,530.00
Total functional expenses: fundraising$0.00$0.00$0.00
Fees for services
Lobbying fees (total)  $0.00
Legal fees (total)  $2,150.00
Fundraising service fees (total)$0.00$0.00$0.00
General management fees (total)  $0.00
Investment management fees (total)  $0.00
Assets and liabilities
Total assets$0.00$72,114.00$119,956.00
Total assets, beginning of year$72,114.00$119,956.00$154,717.00
Total liabilities$0.00$124,942.00$94,021.00
Total liabilities, beginning of year$124,942.00$94,021.00$68,396.00
Pledges & accounts receivable, net$0.00 $0.00
Loans & receivables from key persons$0.00 $0.00
Unrestricted net assets, end of yr$0.00-$52,828.00$25,935.00
Net assets$0.00-$52,828.00$25,935.00
Net assets, beginning of year-$52,828.00$25,935.00$86,321.00
Other liabilities$0.00$124,942.00$94,021.00
Intangible assets$0.00 $0.00
Other assets$0.00 $0.00
Investments: other securities$0.00 $0.00
Investments: publicly traded securities$0.00 $0.00
Cash: non-interest bearing$0.00$1.00$0.00
Cash: non-interest bearing, beginning of year$1.00  
Investments -- program-related$0.00 $0.00
Inventories for sale or use$0.00 $0.00
Other financial variables
Revenue less expenses-$22,819.00-$78,765.00-$60,386.00
Advertising (total)  $0.00
Savings & temp cash investment$0.00$40,548.00$87,793.00
Accounts receivable, net$0.00$31,266.00$31,266.00
Prepaid expenses & deferred charges$0.00 $0.00
Total net assets or fund balances$0.00-$52,828.00$25,935.00
Depreciation, depletion, amortization $598.00$599.00
Payment to affiliates  $0.00
Governance and accountability
Number of voting members777
Number of independent voting members000
Discontinued or disposed >25% of net assetsTrue  
Accrual accountingTrueTrueTrue
Tax year start date2013-10-012012-10-012011-10-01
Tax year end date2014-09-012013-09-012012-09-01
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990990
Reason for form submission
Final return / terminatedTrue  
Date e-filing submitted2015-02-182014-04-072012-12-31
IRS schema version2013v4.02012v2.12011v1.2
Filing identifier201510339349300326201420449349301807201233569349300723
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