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Nonprofiteer
← FLORIDA BUSINESS DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by FLORIDA BUSINESS DEVELOPMENT CORPORATION.

Totals

Total revenue
$15,826,625
Total expenses
$13,752,510
Contributions and grants received
$0
Grants paid
$739,839
Program service revenue
$15,332,246
Investment income
$329,397
Other revenue
$164,982
Total assets, end of year
$40,009,716
Total liabilities, end of year
$2,078,084
Net assets or fund balances, end of year
$37,931,632
Program services expenses (Part IX)
$11,800,609
Management and general expenses
$1,951,901
Fundraising expenses
$0
Program service expenses (Part III)
$11,800,609

Program services were 85.8% 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.

  • 2a · Program service revenue: LOAN PROCESSING/SERVICING

    total $12,362,843 · related or exempt $12,362,843

  • 2b · Program service revenue: INTEREST INCOME

    total $2,969,403 · related or exempt $2,969,403

  • 3 · Investment income

    total $329,397 · related or exempt $329,397

  • 6a · Gross rents

    real property $74,420

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $74,420

  • 6d · Net rental income or loss

    total $74,420 · related or exempt $74,420

  • 11a · Other revenue: LATE FEES

    total $39,545 · related or exempt $39,545

  • 11b · Other revenue: OTHER INCOME

    total $35,271 · related or exempt $35,271

  • 11c · Other revenue: CA PREMIUM FEES

    total $15,746 · related or exempt $15,746

  • 11e · Other revenue, total

    $90,562

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $739,839 · program services $739,839

  • 7 · Other salaries and wages

    total $8,097,571 · program services $6,882,935 · management and general $1,214,636

  • 8 · Pension plan contributions

    total $1,339,359 · program services $1,138,455 · management and general $200,904

  • 9 · Other employee benefits

    total $1,000,939 · program services $850,798 · management and general $150,141

  • 10 · Payroll taxes

    total $490,244 · program services $416,707 · management and general $73,537

  • 11b · Fees: legal

    total $215,280 · program services $182,988 · management and general $32,292

  • 11c · Fees: accounting

    total $144,848 · program services $123,121 · management and general $21,727

  • 11g · Fees: other

    total $101,618 · program services $86,375 · management and general $15,243

  • 13 · Office expenses

    total $595,054 · program services $505,796 · management and general $89,258

  • 16 · Occupancy

    total $262,581 · program services $223,194 · management and general $39,387

  • 17 · Travel

    total $119,769 · program services $101,804 · management and general $17,965

  • 19 · Conferences, conventions and meetings

    total $273,392 · program services $232,383 · management and general $41,009

  • 20 · Interest

    total $6 · program services $5 · management and general $1

  • 22 · Depreciation, depletion and amortization

    total $3,900 · program services $3,315 · management and general $585

  • 23 · Insurance

    total $60,615 · program services $51,523 · management and general $9,092

  • 24a · Other expenses: BUSINESS DEVELOPMENT

    total $205,078 · program services $174,316 · management and general $30,762

  • 24b · Other expenses: VEHICLE EXPENSES

    total $53,746 · program services $45,684 · management and general $8,062

  • 24c · Other expenses: DUES & MEMBERSHIP

    total $32,615 · program services $27,723 · management and general $4,892

  • 24d · Other expenses: CA SERVICING EXPENSES

    total $16,056 · program services $13,648 · management and general $2,408

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,116,201 · end of year $9,121,007

  • 2 · Savings and temporary cash investments

    beginning of year $588,520 · end of year $282,427

  • 4 · Accounts receivable

    beginning of year $1,682,591 · end of year $1,699,986

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

    $110,893

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

    $110,893

  • 10c · Land, buildings and equipment, net

    beginning of year $3,901 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $11,974,936 · end of year $10,799,542

  • 12 · Investments: other securities

    beginning of year $2,983,000 · end of year $2,693,000

  • 13 · Investments: program-related

    beginning of year $14,892,808 · end of year $15,357,526

  • 15 · Other assets

    beginning of year $53,520 · end of year $56,228

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,422,725 · end of year $1,494,272

  • 25 · Other liabilities

    beginning of year $1,015,235 · end of year $583,812

  • 27 · Net assets without donor restrictions

    beginning of year $35,857,517 · end of year $37,931,632

Mission and programs · 2024

Mission

ASSIST HEALTHY, GROWING SMALL BUSINESSES ACCESS CAPITAL VIA THE SBA 504, COMMUNITY ADVANTAGE AND DIRECT LOAN PROGRAMS.

Activities or mission (Part I)

ASSIST HEALTHY, GROWING SMALL BUSINESSES ACCESS CAPITAL VIA THE SBA 504, COMMUNITY ADVANTAGE, DIRECT LOAN.

  • THE CORPORATION IS APPROVED BY THE SBA AS A SECTION 504 CERTIFIED DEVELOPMENT CORPORATION. FINANCIAL ASSISTANCE AND LONG-TERM FINANCING ARE PROVIDED TO BUSINESSES TO RETAIN AND CREATE JOBS AND BUILD THE LOCAL ECONOMY. THE CORPORATION IS THE SECOND MOST ACTIVE CERTIFIED DEVELOPMENT COMPANY NATIONWIDE FOR THE FISCAL YEAR ENDED SEPTEMBER 2025 AND DURING THE PAST 36 YEARS HAS ORIGINATED OVER 9,410 SMALL BUSINESS LOANS RESULTING IN OVER $16 BILLION IN APPROVED PROJECTS AND CONTRIBUTED TO THE RETENTION AND CREATION OF THOUSANDS OF JOBS.

    Expenses $11,800,609 · Grants $739,839 · Revenue $15,826,625

As filed on the 2024 return.

Listed in Part VII

  • Mathew Schuh

    DIRECTOR

    Total calculated
    $12,500
    From this org
    $12,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jeffrey Hunt

    CHAIRPERSON

    Total calculated
    $14,000
    From this org
    $14,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • George Hawkins

    DIRECTOR

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Donna Lewis

    DIRECTOR

    Total calculated
    $11,769
    From this org
    $11,769
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Marc Woonton

    DIRECTOR

    Total calculated
    $1,962
    From this org
    $1,962
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Seabron Smith

    DIRECTOR

    Total calculated
    $11,769
    From this org
    $11,769
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Omar Ojeda

    DIRECTOR

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Harry Zuker

    DIRECTOR

    Total calculated
    $10,231
    From this org
    $10,231
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Christine Bouton

    DIRECTOR

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Thomas Ter Beek

    DIRECTOR

    Total calculated
    $11,769
    From this org
    $11,769
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jason Finagan

    DIRECTOR

    Total calculated
    $11,769
    From this org
    $11,769
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Avril Stinson

    DIRECTOR

    Total calculated
    $10,231
    From this org
    $10,231
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • William R Habermeyer

    PRESIDENT AND TREASURER

    Total calculated
    $638,288
    From this org
    $550,000
    From related orgs
    $0
    Other
    $88,288
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $300,000
    Bonus
    $250,000
    Other
    $0
    Deferred
    $59,400
    Nontaxable benefits
    $28,888
    Filer's total
    $638,288

  • Angel Gonzalez

    DIRECTOR

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Robert Zinkil

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $485,857
    From this org
    $425,433
    From related orgs
    $0
    Other
    $60,424
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,433
    Bonus
    $198,000
    Other
    $0
    Deferred
    $46,500
    Nontaxable benefits
    $13,924
    Filer's total
    $485,857

  • Mark W Mayhew

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $476,821
    From this org
    $388,533
    From related orgs
    $0
    Other
    $88,288
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $253,333
    Bonus
    $135,200
    Other
    $0
    Deferred
    $59,400
    Nontaxable benefits
    $28,888
    Filer's total
    $476,821

  • Cory W Stewart

    SENIOR VICE PRESIDENT

    Total calculated
    $463,805
    From this org
    $388,941
    From related orgs
    $0
    Other
    $74,864
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,641
    Bonus
    $178,300
    Other
    $0
    Deferred
    $47,400
    Nontaxable benefits
    $27,464
    Filer's total
    $463,805

  • Charles B Butler

    SENIOR VICE PRESIDENT

    Total calculated
    $334,419
    From this org
    $268,730
    From related orgs
    $0
    Other
    $65,689
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,077
    Bonus
    $93,653
    Other
    $0
    Deferred
    $47,809
    Nontaxable benefits
    $17,880
    Filer's total
    $334,419

  • Armando J Martinez

    SENIOR VICE PRESIDENT

    Total calculated
    $447,724
    From this org
    $359,436
    From related orgs
    $0
    Other
    $88,288
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,923
    Bonus
    $182,513
    Other
    $0
    Deferred
    $59,400
    Nontaxable benefits
    $28,888
    Filer's total
    $447,724

  • Daniel F Martinez

    SENIOR VICE PRESIDENT

    Total calculated
    $305,909
    From this org
    $237,858
    From related orgs
    $0
    Other
    $68,051
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,300
    Bonus
    $52,558
    Other
    $0
    Deferred
    $42,686
    Nontaxable benefits
    $25,365
    Filer's total
    $305,909

  • Helen G Bennett

    SENIOR VICE PRESIDENT

    Total calculated
    $230,523
    From this org
    $176,550
    From related orgs
    $0
    Other
    $53,973
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,000
    Bonus
    $27,550
    Other
    $0
    Deferred
    $31,779
    Nontaxable benefits
    $22,194
    Filer's total
    $230,523

  • Anthony Dimauro

    VICE PRESIDENT

    Total calculated
    $249,447
    From this org
    $192,332
    From related orgs
    $0
    Other
    $57,115
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,200
    Bonus
    $87,132
    Other
    $0
    Deferred
    $34,921
    Nontaxable benefits
    $22,194
    Filer's total
    $249,447

  • Ankur N Patel

    VICE PRESIDENT

    Total calculated
    $205,586
    From this org
    $167,537
    From related orgs
    $0
    Other
    $38,049
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,827
    Bonus
    $28,710
    Other
    $0
    Deferred
    $29,823
    Nontaxable benefits
    $8,226
    Filer's total
    $205,586

  • Rai L Donelson

    VICE PRESIDENT AND SECRETA

    Total calculated
    $222,509
    From this org
    $170,261
    From related orgs
    $0
    Other
    $52,248
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,467
    Bonus
    $25,794
    Other
    $0
    Deferred
    $30,054
    Nontaxable benefits
    $22,194
    Filer's total
    $222,509

  • Michael J Quant

    VICE PRESIDENT

    Total calculated
    $214,316
    From this org
    $157,509
    From related orgs
    $0
    Other
    $56,807
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,448
    Bonus
    $26,061
    Other
    $0
    Deferred
    $27,919
    Nontaxable benefits
    $28,888
    Filer's total
    $214,316

  • Charles S Wilson

    VICE PRESIDENT

    Total calculated
    $196,671
    From this org
    $159,080
    From related orgs
    $0
    Other
    $37,591
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,000
    Bonus
    $24,080
    Other
    $0
    Deferred
    $28,072
    Nontaxable benefits
    $9,519
    Filer's total
    $196,671

  • Taylor Dobson

    VICE PRESIDENT

    Total calculated
    $172,114
    From this org
    $136,007
    From related orgs
    $0
    Other
    $36,107
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,681
    Bonus
    $24,326
    Other
    $0
    Deferred
    $24,623
    Nontaxable benefits
    $11,484
    Filer's total
    $172,114

  • Michelle Mathews Seivold

    VICE PRESIDENT

    Total calculated
    $175,786
    From this org
    $124,952
    From related orgs
    $0
    Other
    $50,834
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,333
    Bonus
    $21,619
    Other
    $0
    Deferred
    $21,946
    Nontaxable benefits
    $28,888
    Filer's total
    $175,786

  • Ian A Masse

    ASSISTANT VICE PRESIDENT

    Total calculated
    $138,148
    From this org
    $111,124
    From related orgs
    $0
    Other
    $27,024
    Hours/week
    40

  • Jeanette L Bohigas

    SECRETARY

    Total calculated
    $159,135
    From this org
    $110,171
    From related orgs
    $0
    Other
    $48,964
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $91,307
    Bonus
    $18,864
    Other
    $0
    Deferred
    $20,076
    Nontaxable benefits
    $28,888
    Filer's total
    $159,135

  • Renee Madormo

    SECRETARY

    Total calculated
    $148,631
    From this org
    $107,150
    From related orgs
    $0
    Other
    $41,481
    Hours/week
    40

  • Christine Nichols

    SECRETARY

    Total calculated
    $133,387
    From this org
    $97,887
    From related orgs
    $0
    Other
    $35,500
    Hours/week
    40

  • Cynthia Lahera-Yribar

    SECRETARY

    Total calculated
    $117,684
    From this org
    $80,892
    From related orgs
    $0
    Other
    $36,792
    Hours/week
    40

  • Anne Myers

    SECRETARY

    Total calculated
    $99,021
    From this org
    $77,040
    From related orgs
    $0
    Other
    $21,981
    Hours/week
    40

  • Naara Rodriguez

    SECRETARY

    Total calculated
    $85,642
    From this org
    $52,068
    From related orgs
    $0
    Other
    $33,574
    Hours/week
    40

  • Brian King

    VICE PRESIDENT

    Total calculated
    $75,811
    From this org
    $51,013
    From related orgs
    $0
    Other
    $24,798
    Hours/week
    40

  • Cody Hitchcock

    VICE PRESIDENT

    Total calculated
    $118,680
    From this org
    $107,881
    From related orgs
    $0
    Other
    $10,799
    Hours/week
    40

  • Edgardo Molina

    ASSISTANT VICE PRESIDENT

    Total calculated
    $156,829
    From this org
    $114,244
    From related orgs
    $0
    Other
    $42,585
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,846
    Bonus
    $10,398
    Other
    $0
    Deferred
    $20,391
    Nontaxable benefits
    $22,194
    Filer's total
    $156,829

  • Ryan Vucelik

    VICE PRESIDENT

    Total calculated
    $194,721
    From this org
    $141,013
    From related orgs
    $0
    Other
    $53,708
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,115
    Bonus
    $23,898
    Other
    $0
    Deferred
    $24,820
    Nontaxable benefits
    $28,888
    Filer's total
    $194,721

  • Johann Enrique Schnell

    VICE PRESIDENT

    Total calculated
    $231,804
    From this org
    $171,963
    From related orgs
    $0
    Other
    $59,841
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,913
    Bonus
    $40,050
    Other
    $0
    Deferred
    $30,953
    Nontaxable benefits
    $28,888
    Filer's total
    $231,804

  • Dana M Albury

    KEY EMPLOYEE

    Total calculated
    $320,924
    From this org
    $250,977
    From related orgs
    $0
    Other
    $69,947
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,894
    Bonus
    $80,083
    Other
    $0
    Deferred
    $45,140
    Nontaxable benefits
    $24,807
    Filer's total
    $320,924

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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
THE BOARD OF DIRECTORS APPROVED OF A CORPORATE MEMBERSHIP AT THE UNIVERSITY CLUB OF TAMPA FOR BUSINESS DEVELOPMENT PURPOSES. THIS COVERED THE ONE-TIME INITIATION FEE AND MONTHLY DUES PAID VIA CORPORATE CREDIT CARD. EMPLOYEES ARE PERSONALLY RESPONSIBLE FOR ANY SUBSEQUENT CHARGES INCURRED WHILE AT THE CLUB.

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

Provenance

Return type
form_990
Tax year
2024
Filed
31 March 2026
IRS schema version
2024v5.5
Source object
202600909349300730

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