Overview
What is Florida Development Finance Corporation?
The Florida Development Finance Corporation (FDFC) is a state-designated authority, established to facilitate economic development in Florida. Serving both for-profit and non-profit entities, its mission involves providing financing solutions that promote business activity, job creation, and an improved standard of living for Florida's citizens. The FDFC accomplishes this by issuing taxable and tax-exempt bonds, acting as a conduit issuer. This program, enabled by Florida State legislation, allows eligible borrowers, such as small manufacturers, 501(c)(3) not-for-profit corporations, and others, to secure financing terms comparable to large corporations. The FDFC's initiatives aim to improve the availability of low-cost financing for eligible projects, contributing to their competitiveness in the global and domestic marketplace. The corporation is headquartered in Winter Springs, Florida, and employs a team of 7 individuals.
Official website here: www.fdfcbonds.com
Is Florida Development Finance Corporation legitimate?
Florida Development Finance Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Florida Development Finance Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $362,522
Professional Fundraising Fees: $0
Other Salaries and Wages: $316,996
For more financial information, click here
Official website here: www.fdfcbonds.com
What is the mission statement of Florida Development Finance Corporation?
The Florida Development Finance Corporation (FDFC), established by Florida statute, serves as a state-wide special development financing authority for economic development purposes. Its mission is to aid both for-profit and non-profit businesses and organizations in obtaining capital through financings that foster business activity, job creation, and an improved standard of living for Florida's citizens. The FDFC accomplishes this by providing taxable and tax-exempt bond financing terms that are consistent with those available to large corporations, to smaller, creditworthy entities such as manufacturers, not-for-profit corporations, and other eligible borrowers or projects. This program aims to enhance the availability of low-cost financing for eligible borrowers and projects that qualify for tax-exempt finance under IRS rules, thus making these entities more competitive in the global and domestic marketplace. Transactions that do not meet IRS qualifying rules for tax-exempt finance can be financed with taxable bonds through the FDFC.
Official website here: www.fdfcbonds.com
Who is the CEO of Florida Development Finance Corporation?
Michael Dinapoli is the Chair of Florida Development Finance Corporation.
Official website here: www.fdfcbonds.com
What is the revenue of Florida Development Finance Corporation?
Florida Development Finance Corporation's revenue in 2022 was $3,600,952.
Official website here: www.fdfcbonds.com
Who are the executives of Florida Development Finance Corporation and what are their salaries?
The average compensation at Florida Development Finance Corporation during 2022 was $97,074. There are 7 employees at Florida Development Finance Corporation.
Here are 10 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $188,736
- Related: $0
- Other: $40,952
- Compensation: $108,588
- Related: $0
- Other: $32,042
Official website here: www.fdfcbonds.com
Where can I find the form 990 for Florida Development Finance Corporation?
Florida Development Finance Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fdfcbonds.com
Learn more at the official website: www.fdfcbonds.com
Mission Statement of Florida Development Finance Corporation
Florida Development Finance Corporation (FDFC) serves as a state-wide, special development financing authority, established by Florida Statute 288.9603. Its mission, in simple terms, is to assist both for-profit and non-profit businesses and organizations in gaining access to capital. This is achieved through financing options that promote business activity, job creation, and ultimately, an improved standard of living for Florida's citizens.
To accomplish this mission, FDFC provides taxable and tax-exempt bond financing terms that mirror those available to large corporations. This program is designed to enhance the availability of low-cost financing for eligible borrowers and projects that qualify for tax-exempt finance under IRS rules. Projects that do not meet these qualifications can still benefit from taxable bonds financed through FDFC. By acting as a conduit issuer of revenue bonds, FDFC helps small, creditworthy manufacturers, 501(c)(3) not-for-profit corporations, and other eligible borrowers or projects become more competitive in the global and domestic marketplace.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Florida Development Finance Corporation (FDFC) plays a significant role in enhancing economic development across the state by providing access to affordable financing options. By acting as a conduit issuer of taxable and tax-exempt bonds, FDFC enables small, creditworthy manufacturers, 501(c)(3) not-for-profit organizations, and various eligible projects to secure funding on competitive terms that are typically reserved for larger corporations.
This financing facilitates the development of diverse projects, including charter schools, transportation facilities, industrial sites, senior living communities, and solid waste disposal facilities. By improving the availability of low-cost capital, FDFC strengthens the competitive positioning of these entities within both the domestic and global marketplaces, fostering business activity and promoting job creation.
Moreover, FDFC’s initiatives contribute to the overall improvement of living standards for citizens in Florida. Through its bond issuance programs—authorized under Florida statutes—FDFC collaborates with local governments to support a wide range of economic development projects, ensuring that the communities’ needs are met while stimulating growth and employment.
In summary, the FDFC drives significant positive impact on Florida’s economy by facilitating critical infrastructure development, enhancing job opportunities, and supporting the financial vitality of both nonprofit and for-profit organizations.
This information is meant to be a general summary of Florida Development Finance Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $7,231
- Program Service Revenue: $3,593,721
- Gross Receipts: $3,600,952
Assets and Liabilities:
- Total Assets: $7,090,461
- Total Liabilities: $386,258
- Net Assets: $6,704,203
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONDUIT DEBT ISSUANCE
Revenue
$3,014,809
PACE PROGRAM FEES
Revenue
$564,474
REIMBURSEMENTS
Revenue
$14,438
Organization Details
Founding Year
1993
Phone
(407) 712-6355Principal Officer
Michael Dinapoli
Main Address
156 TUSKAWILLA ROAD SUITE 2340, WINTER SPRINGS, FL, 32708
Website
www.fdfcbonds.comNTEE Category
Code: S30 - Community improvement
If you are a representative of Florida Development Finance Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.