Economic Development Corporation Of Sarasota County
Sarasota Economic Development Corp maintains stable finances with growing assets and no reported officer compensation.
EIN: 201133191 · Sarasota, FL · NTEE: S30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.6M |
| Total Expenses | $1.4M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $1.4 |
| Net Assets | $624K |
| Transparency Score | 85/100 |
Is Economic Development Corporation Of Sarasota County Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Economic Development Corporation Of Sarasota County directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Economic Development Corporation Of Sarasota County
Economic Development Corporation Of Sarasota County (EIN: 201133191) is a nonprofit organization based in Sarasota, FL, classified under NTEE code S30. The organization reported total revenue of $1.6M and total assets of $1.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Economic Development Corporation Of Sarasota County's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Economic Development Corporation Of Sarasota County is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.4M |
| Total Expenses | $1.4M |
| Surplus / Deficit | +$10K |
| Total Assets | $961K |
| Total Liabilities | $337K |
| Net Assets | $624K |
| Operating Margin | 0.7% |
| Debt-to-Asset Ratio | 35.1% |
| Months of Reserves | 8.1 months |
Financial Health Grade: A
In 2023, Economic Development Corporation Of Sarasota County reported a surplus of $10K with revenue exceeding expenses, holds 8.1 months of operating reserves (strong position), has a debt-to-asset ratio of 35.1% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Economic Development Corporation Of Sarasota County's revenue has declined at a compound annual growth rate (CAGR) of -0.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -2.7% | +2.6% | +11.9% |
| 2022 | +2.2% | +0.2% | +14.6% |
| 2021 | -7.6% | -9.2% | +12.3% |
| 2020 | -2.8% | -4.1% | -8.8% |
| 2019 | -3.2% | -1.5% | -0.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Economic Development Corporation Of Sarasota County with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Economic Development Corporation Of Sarasota County allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $10K, with revenue exceeding expenses.
- Debt-to-asset ratio: 35.1%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation across all periods, which is highly unusual for an organization of this size with annual revenues exceeding $1.4 million. This suggests either a fully volunteer executive team or that executive compensation is categorized under other expense lines, which would reduce transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Economic Development Corporation Of Sarasota County's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this size and could indicate a lack of transparency if compensation is simply reclassified.
Strengths
The following positive indicators were identified for Economic Development Corporation Of Sarasota County:
- Consistent revenue generation, averaging over $1.4 million annually.
- Steady growth in assets, from $601,719 in 2014 to $960,710 in 2023, indicating financial stability.
- Expenses generally align closely with revenues, suggesting sound operational budgeting and management.
- No reported officer compensation, which, if accurate, indicates high efficiency in executive leadership costs.
Frequently Asked Questions about Economic Development Corporation Of Sarasota County
Is Economic Development Corporation Of Sarasota County a legitimate charity?
Economic Development Corporation Of Sarasota County (EIN: 201133191) is a registered tax-exempt nonprofit based in Florida. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.6M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Economic Development Corporation Of Sarasota County spend its money?
Economic Development Corporation Of Sarasota County directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Economic Development Corporation Of Sarasota County tax-deductible?
Economic Development Corporation Of Sarasota County is registered as a tax-exempt nonprofit (EIN: 201133191). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Economic Development Corporation Of Sarasota County CEO make?
Economic Development Corporation Of Sarasota County's highest-compensated officer earns $1.4 annually. The organization reported $1.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Economic Development Corporation Of Sarasota County's spending goes to programs?
Economic Development Corporation Of Sarasota County directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Economic Development Corporation Of Sarasota County compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Economic Development Corporation Of Sarasota County is above average for NTEE category S30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Economic Development Corporation Of Sarasota County located?
Economic Development Corporation Of Sarasota County is headquartered in Sarasota, Florida and files with the IRS under EIN 201133191. It is classified under NTEE code S30.
How many years of IRS 990 filings does Economic Development Corporation Of Sarasota County have?
Economic Development Corporation Of Sarasota County has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.6M in total revenue.
How does the Economic Development Corporation Of Sarasota County fund its operations given the consistent 0% officer compensation reported?
The consistent reporting of 0% officer compensation across all filings suggests either a fully volunteer-led executive team or that executive compensation is included within other expense categories. Further review of the detailed 990 forms would be needed to understand the full compensation structure.
What is the detailed breakdown of program, administrative, and fundraising expenses?
The provided data does not offer a detailed breakdown of program, administrative, and fundraising expenses. A full IRS 990 form would be necessary to analyze these specific allocations and assess spending efficiency more accurately.
Are the increasing liabilities a concern for the organization's long-term financial health?
Liabilities have increased from $196,246 in 2020 to $336,983 in 2023. While assets have also grown, the increase in liabilities warrants monitoring to ensure they are manageable and not indicative of financial strain. The current asset-to-liability ratio (approximately 2.85:1 in 2023) appears healthy, but the trend should be watched.
Filing History
IRS 990 filing history for Economic Development Corporation Of Sarasota County showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Economic Development Corporation Of Sarasota County's revenue has declined by 0.6%, moving from $1.4M to $1.4M. Total assets increased by 83.5% over the same period, from $524K to $961K. Total functional expenses rose by 4.8%, from $1.4M to $1.4M. In its most recent filing year (2023), Economic Development Corporation Of Sarasota County reported a surplus of $10K, with revenue exceeding expenses. The organization holds $337K in liabilities against $961K in assets (debt-to-asset ratio: 35.1%), resulting in net assets of $624K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.4M | $1.4M | $961K | $337K | — | View 990 |
| 2022 | $1.5M | $1.4M | $858K | $245K | — | View 990 |
| 2021 | $1.4M | $1.4M | $749K | $221K | — | View 990 |
| 2020 | $1.6M | $1.5M | $667K | $196K | — | View 990 |
| 2019 | $1.6M | $1.6M | $731K | $297K | — | View 990 |
| 2018 | $1.7M | $1.6M | $737K | $318K | — | View 990 |
| 2017 | $1.6M | $1.6M | $652K | $278K | — | View 990 |
| 2016 | $1.6M | $1.6M | $699K | $324K | — | View 990 |
| 2015 | $1.7M | $1.6M | $722K | $320K | — | View 990 |
| 2014 | $1.4M | $1.4M | $602K | $272K | — | View 990 |
| 2013 | $1.4M | $1.3M | $608K | $195K | — | View 990 |
| 2012 | $1.4M | $1.4M | $552K | $188K | — | View 990 |
| 2011 | $1.4M | $1.4M | $524K | $162K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.4M, expenses of $1.4M, and assets of $961K (revenue -2.7% year-over-year).
- 2022: Revenue of $1.5M, expenses of $1.4M, and assets of $858K (revenue +2.2% year-over-year).
- 2021: Revenue of $1.4M, expenses of $1.4M, and assets of $749K (revenue -7.6% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.5M, and assets of $667K (revenue -2.8% year-over-year).
- 2019: Revenue of $1.6M, expenses of $1.6M, and assets of $731K (revenue -3.2% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.6M, and assets of $737K (revenue +3.6% year-over-year).
- 2017: Revenue of $1.6M, expenses of $1.6M, and assets of $652K (revenue +3.0% year-over-year).
- 2016: Revenue of $1.6M, expenses of $1.6M, and assets of $699K (revenue -8.7% year-over-year).
- 2015: Revenue of $1.7M, expenses of $1.6M, and assets of $722K (revenue +25.6% year-over-year).
- 2014: Revenue of $1.4M, expenses of $1.4M, and assets of $602K (revenue -2.6% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.3M, and assets of $608K (revenue -0.8% year-over-year).
- 2012: Revenue of $1.4M, expenses of $1.4M, and assets of $552K (revenue -2.6% year-over-year).
- 2011: Revenue of $1.4M, expenses of $1.4M, and assets of $524K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Economic Development Corporation Of Sarasota County:
Data Sources and Methodology
This transparency report for Economic Development Corporation Of Sarasota County is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.