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Nonprofiteer
← SOUTH FLORIDA PROGRESS FOUNDATION INC

Form 990 for tax year 2022

Filed by SOUTH FLORIDA PROGRESS FOUNDATION INC.

Totals

Total revenue
$290,020
Total expenses
$264,742
Contributions and grants received
$279,081
Grants paid
$1,800
Program service revenue
$0
Investment income
$23
Other revenue
$10,916
Total assets, end of year
$221,603
Total liabilities, end of year
$63,813
Net assets or fund balances, end of year
$157,790
Program services expenses (Part IX)
$232,932
Management and general expenses
$31,810
Fundraising expenses
$0
Program service expenses (Part III)
$232,932

Program services were 88.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $279,081

  • 3 · Investment income

    total $23 · excluded $23

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: ADMINISTRATIVE REVENUE

    total $10,916 · related or exempt $10,916

  • 11e · Other revenue, total

    $10,916

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,800 · program services $1,800

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $10,950 · management and general $10,950

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $16,866 · management and general $16,866

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $231,132 · program services $231,132

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,800 · management and general $1,800

  • 23 · Insurance

    total $0

  • 24a · Other expenses: BANK SERVICE CHARGES

    total $2,194 · management and general $2,194

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $182,442 · end of year $220,612

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $1,919 · end of year $543

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $13,995

  • 10b · Land, buildings and equipment: accumulated depreciation

    $13,547

  • 10c · Land, buildings and equipment, net

    beginning of year $2,248 · end of year $448

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $54,097 · end of year $63,813

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $17,074 · end of year $437

  • 28 · Net assets with donor restrictions

    beginning of year $115,438 · end of year $157,353

Mission and programs · 2022

Mission

THE FOUNDATION WORKS TO LEVERAGE ITS RELATIONSHIP WITH SOUTH FLORIDA PROFESSIONALS AND CIVIC LEADERS TO IDENTIFY TOP ISSUES, PRIORITIZE THEM THROUGH CONSENSUS, AND THEN DEVELOP AND IMPLEMENT SOLUTIONS THROUGH PROGRAMMATIC ACTIVITY, ALL FUNDED BY MEMBER DONATIONS, ENDOWMENTS AND GRANTS. THROUGH STRATEGIC PARTNERSHIPS WITH LOCAL ORGANIZATIONS COMMITTED TO THE BETTERMENT OF SOUTH FLORIDA, THE EFFECTIVENESS OF AND NEED FOR THE FOUNDATION'S VARIOUS INITIATIVES ARE REVIEWED AND PRIORITIZED ANNUALLY. THESE INITIATIVES INCLUDE: 1. SOUTH FLORIDA QUALITY OF LIFE ISSUES: O EDUCATION O TRANSPORTATION O EXPANSION AND ENHANCEMENT OF CULTURAL OFFERINGS O ENVIRONMENTAL ISSUES O HURRICANE PREPAREDNESS AND RECOVERY 2. DIVERSITY ISSUES 3. COLLEGE SCHOLARSHIPS FOR STUDENTS INTERESTED IN PURSING CAREERS IN BUSINESS, LAW OR GOVERNMENT

Activities or mission (Part I)

The Foundation uses its relationship with South Florida professionals, entrepreneurs and civic leaders to identify top issues, set priorities, and then develop solutions.

  • Leadership Miami General Fund - Fund for all programming associated with Leadership Miami programming. Teams are formed from the participants where each team selects a project that benefits the community.

    Expenses $1,800 · Grants $1,800

  • Unrestricted Fund - Supports high quality education for all. This includes development of talent and retention of talent in South Florida. The Committee seeks to build relationships with professionals and businesses in order to advocate, and seek funding for education causes, as well as seeking to implement these causes to benefit the economic development of our ever-evolving community.

    Expenses $124,701

  • Defense Alliance - Will leverage the strong relationships and the success that the GMCC's military affairs committee and the Miami Dade County's military affairs board have achieved as being long standing advocates for military presence, readiness, capability, and growth in South Florida. Most importantly, it will work in concert with the many organizations throughout the county already supporting our precious military installations, commands service members and their families.

    Expenses $106,431

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Alfred Sanchez

    President

    Total calculated
    $296,961
    From this org
    $0
    From related orgs
    $275,676
    Other
    $21,285
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $275,676 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $10,102 related
    Nontaxable benefits
    not reported + $11,183 related
    Filer's total
    not reported + $296,961 related

  • Albert Lopez

    Treasurer

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • Ashaki Bronson-Marcellus

    Secretary

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • William C Diaz-Rousselot

    Member

    Total calculated
    $0
    Hours/week
    1

  • Felipe Basulto

    Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Dennis Coral

    Member

    Total calculated
    $0
    Hours/week
    5

  • Lucy Nunez

    Vice Chairman

    Total calculated
    $0
    Hours/week
    5 + 1 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202441369349313914

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