NonprofitsFlorida Development Finance Corporation

Florida Development Finance Corporation

WINTER SPGS, FL

Total revenue

$5.7M

Total expenses

$1.7M

Net assets

$12.1M

Grants received

EIN

593270584

Tax year

2023

Mission

Florida development finance corporation ("fdfc") accomplishes its mission of providing taxable and tax-exempt bond financing terms consistent with those available to large corporations to small, creditworthy manufacturers, 501(c)(3) not-for-profit corporations, and any other eligible borrower or project by acting as a conduit issuer of revenue bonds. The program is designed to improve the availability of low cost financing for eligible borrowers and projects that qualify for tax exempt finance under irs rules, allowing these entities to be more competitive in the global and domestic market place. Transactions that do not meet irs qualifying rules for tax exempt finance can be financed with taxable bonds through fdfc. Fdfc has issued bonds for charter schools, transportation facilities, industrial development facilities, senior living facilities and solid waste disposal facilities.

Programs

1 program

Pace bonds - this program is found under fl. St. 163.08. Under fl. St. 288.9606 (7)(c), the fdfc is authorized to issue pace bonds throughout the state. These bonds are issued to pay for the purchase and installation of eligible improvements to property for the purpose of energy efficiency, energy conservation and wind hardening. Repayment of the bonds is through a voluntary special assessment requested by the property owner and placed on the annual tax roll.

Expenses: $645K

Financials

FY 2023

Revenue

Contributions & grants
Program service revenue$5.5M
Investment income$266K
Other revenue
Total revenue$5.7M

Expenses

Grants paid
Salaries & benefits$990K
Fundraising
Other expenses$757K
Total expenses$1.7M
Total assets$12.3M
Net assets$12.1M

People

9 listed

NameRoleCompensation

RYAN BARTKUS

SR. DIRECTOR, PROGRAMS

Board

$119K

40 hrs/wk

ROBERT HARVEY ESQ

EXECUTIVE DIRECTOR (START 7/7/23)

Board

$42K

40 hrs/wk

MOSHE POPACK

DIRECTOR

Board

1 hrs/wk

ROBERT PANEPINTO

DIRECTOR

Board

1 hrs/wk

MICHAEL DINAPOLI

CHAIR

Board

1 hrs/wk

CHARBEL BARAKAT

DIRECTOR

Board

1 hrs/wk

J MICHAEL QUIJANO

DIRECTOR

Board

1 hrs/wk

TAYLOR SMITH

DIRECTOR

Board

1 hrs/wk

BEN WATKINS

DIRECTOR

Board

1 hrs/wk

Details

EIN593270584
Subsection04
Ruling date1996-10
Formed1993
Employees8
Volunteers7
FLORIDA DEVELOPMENT FINANCE CORPORATION — Mission, Financials & Grants Received | Grantivo