2026-02-16T08:41:03-06:00 2025-09-30 410746749 CLIFTONLARSONALLEN LLP 420 SOUTH ORANGE AVENUE SUITE 900 ORLANDO FL 32801 990 2024-10-01 592681696 CENTRAL FLORIDA DEVELOPMENT COUNCIL INC CENT 8639374430 1725 BARTOW ROAD LAKELAND FL 33801 SEAN MALOTT PRESIDENT & CEO 8639374430 2026-02-12 1 1 TINA HENTON P00630282 4078021200 2026-02-12 2024 2025-03-06 01:10:19Z SEAN MALOTT 1725 BARTOW ROAD LAKELAND FL 33801 1779592 0 X WWW.CFDC.ORG X 1986 FL TO GROW AN ECONOMY BASED ON HIGH-SKILL, HIGH-WAGE SUSTAINABLE BUSINESSES 15 15 7 17 0 0 1554116 1762522 0 0 10319 14414 1900 775 1566335 1777711 0 0 0 0 708524 769204 0 0 0 713946 903324 1422470 1672528 143865 105183 1363212 1396882 401557 330044 961655 1066838 GROW AN ECONOMY BASED ON HIGH-SKILL, HIGH-WAGE SUSTAINABLE BUSINESSES. WE FOCUS ON BUSINESS RECRUITMENT AND EXPANSION, BUSINESS ADVOCACY, FACILITATING COLLABORATIVE PARTNERSHIPS AND ADVANCING STRATEGIC INITIATIVES IN CENTRAL FLORIDA'S POLK COUNTY. 0 0 CENTRAL FLORIDA DEVELOPMENT COUNCIL (CFDC) IS RESPONSIBLE FOR RECRUITING NEW BUSINESSES TO POLK COUNTY AND HELPING EXISTING BUSINESSES EXPAND. WE FOCUS ON BUSINESS RECRUITMENT AND EXPANSION, BUSINESS ADVOCACY, FACILITATING COLLABORATIVE PARTNERSHIPS AND ADVANCING STRATEGIC INITIATIVES IN CENTRAL FLORIDA'S POLK COUNTY. FOUNDED IN 1985, CFDC TRANSITIONED INTO A PRIVATE, NOT-FOR-PROFIT ORGANIZATION IN 2015 THROUGH A STRATEGIC PARTNERSHIP WITH THE POLK COUNTY BOARD OF COUNTY COMMISSIONERS AND THE LOCAL BUSINESS COMMUNITY. THE VISION OF THE CFDC IS TO DEVELOP AN ECONOMIC ENVIRONMENT THAT ATTRACTS AND RETAINS INDUSTRY-DIVERSE BUSINESSES WITH HIGHER-PAYING CAREERS AND EDUCATES AND RETAINS QUALIFIED TALENT TO ALIGN WITH TARGETED INDUSTRY WORKFORCE NEEDS. 0 1 1 1 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 20 0 1 7 1 0 0 0 0 1 1 0 0 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 0 0 X SHELLY REICHE 8639374430 1725 BARTOW ROAD LAKELAND FL 33801 DAVE SHEPP CHAIR 3.00 X X 0 0 0 EMERY SMITH VICE CHAIR 3.00 X X 0 0 0 BRANDON CLARK SECRETARY/TREASURER 3.00 X X 0 0 0 GENE CONRAD PAST CHAIR 3.00 X X 0 0 0 BRAD LUNZ BOARD MEMBER 3.00 X 0 0 0 DEENA DRUMGO BOARD MEMBER 3.00 X 0 0 0 DR AMY BRATTEN BOARD MEMBER 3.00 X 0 0 0 DREW WILCOX BOARD MEMBER 3.00 X 0 0 0 GEORGE LINDSAY BOARD MEMBER (ENDED 12/2024) 3.00 X 0 0 0 JEFF KINCART BOARD MEMBER 3.00 X 0 0 0 JEREMY VOSS BOARD MEMBER 3.00 X 0 0 0 KYLE STORY BOARD MEMBER 3.00 X 0 0 0 PATRICK PHILLIPS BOARD MEMBER 3.00 X 0 0 0 RANDY KNAPP BOARD MEMBER 3.00 X 0 0 0 RICK GARCIA BOARD MEMBER 3.00 X 0 0 0 RICK WILSON BOARD MEMBER (AS OF 1/2025) 3.00 X 0 0 0 SEAN MALOTT PRESIDENT & CEO 40.00 X 167064 0 42919 167064 0 42919 1 0 1 0 0 397208 1206875 158439 1762522 16295 16295 1881 -1881 -1881 -1881 CREDIT CARD REWARDS 900099 775 775 775 1777711 0 0 15189 188175 478928 13607 42676 45818 340 33373 14365 195731 30855 23888 67224 6713 411187 28464 SPONSORSHIPS 61446 MEMBERSHIP DUES 17029 STAFF DEVELOPMENT 6212 BAD DEBT 3750 2747 1672528 979673 1105286 2709 5627 87512 77415 171135 137816 63663 33319 229655 175235 1363212 1396882 54380 97683 116480 55417 230697 176944 401557 330044 X 765523 861537 196132 205301 961655 1066838 1363212 1396882 105183 0 X 1 X 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1500 1500 1500 0 0 0 0 397208 1500 1500 0 1500 PART I-A, LINE 1: THE ORGANIZATION MADE A CONTRIBUTION TO A POLITICAL ACTION COMMITTEE. 51872 44967 6905 119263 92849 26414 33319 SECURITY DEPOSITS 3394 RIGHT OF USE ASSET - NET OPERATING 171841 175235 LEASE LIABITLTIES 176944 176944 X PART X, LINE 2: THE COUNCIL OPERATES AS A NONPROFIT ORGANIZATION AND IS EXEMPT FROM FEDERAL AND STATE OF FLORIDA INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. THE COUNCIL HAS ADOPTED ACCOUNTING STANDARDS CODIFICATION (ASC) 740-10 AS IT RELATES TO UNCERTAIN TAX POSITIONS. WHEN APPLICABLE, ANY INTEREST AND PENALTIES RECOGNIZED ASSOCIATED WITH A TAX POSITION ARE CLASSIFIED AS CURRENT LIABILITIES IN THE COUNCIL'S FINANCIAL STATEMENTS. THERE WERE NO SUCH INTEREST OR PENALTIES FOR THE YEAR ENDED SEPTEMBER 30, 2025. THE COUNCIL IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. X X 0 0 0 SEAN MALOTT PRESIDENT & CEO 160625 0 6439 0 0 0 5009 0 37910 0 209983 0 0 0 PART I, LINE 6 THE CEO'S BONUS IS DETERMINED BY THE PROFIT AND LOSS WITH OTHER ADJUSTMENTS PER HIS EMPLOYMENT AGREEMENT. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL BE COMPOSED OF THE CHAIR, VICE CHAIR, SECRETARY/TREASURER AND IMMEDIATE PAST CHAIR. SUBJECT TO SUCH LIMITATIONS AS SHALL BE IMPOSED BY THE BOARD OF DIRECTORS, THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE BUSINESS OF THE CORPORATION BETWEEN MEETINGS OF THE BOARD. ALL MEMBERS OF THE EXECUTIVE COMMITTEE, INCLUDING THE CHAIR, SHALL HAVE THE POWER TO VOTE. THE EXECUTIVE COMMITTEE SHALL RENDER A FULL REPORT OF ITS ACTIVITIES AT EACH REGULAR AND SPECIAL MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION (A "MEMBER OR "MEMBERS") SHALL BE THOSE INDIVIDUALS OR ENTITIES THAT HAVE BEEN ACCEPTED AS MEMBERS BY THE BOARD OF DIRECTORS PURSUANT TO THE POLICIES AND PROCEDURES ESTABLISHED BY THE BOARD OF DIRECTORS AND THAT HAVE FULFILLED ALL OBLIGATIONS REQUIRED BY AND ARE IN GOOD STANDING WITH THESE BYLAWS AND THE POLICIES AND PROCEDURES OF THE CORPORATION, AS THE SAME MAY CHANGE FROM TIME TO TIME. EACH MEMBER SHALL DESIGNATE AN AUTHORIZED REPRESENTATIVE, WHO SHALL BE AN EMPLOYEE OR OWNER OF THE MEMBER IN THE EVENT OF AN ENTITY MEMBER. FORM 990, PART VI, SECTION A, LINE 7A MEMBER MAY INVEST IN ONE OF TWO MEMBER CLASSIFICATIONS THAT ARE DETERMINED BY THE MEMBER INVESTMENT LEVEL AS DESCRIBED BELOW AND THAT MAY CHANGE FROM TIME TO TIME -A VOTING CLASS MEMBER OR A NON-VOTING CLASS MEMBER. ONLY VOTING CLASS MEMBERS SHALL BE ALLOWED TO PARTICIPATE ON THE EXECUTIVE COMMITTEE OR BOARD OF DIRECTORS. NON-VOTING CLASS MEMBERS SHALL HAVE SUCH RIGHTS AND PRIVILEGES AS ARE SPECIFICALLY SET FORTH IN THESE BYLAWS, EXCEPT THEY WILL NOT HAVE THE RIGHT TO VOTE OR TO PARTICIPATE ON THE BOARD OF DIRECTORS OR ON THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 7B ONLY VOTING CLASS MEMBERS SHALL BE ALLOWED TO: - PARTICIPATE ON THE EXECUTIVE COMMITTEE, BOARD OF DIRECTORS OR ANY OTHER COMMITTEE DESIGNATED BY THE BOARD OF DIRECTORS FOR THE CORPORATION. - APPROVE OR REJECT ANY SUBSTANTIVE CHANGE RECOMMENDED BY THE BOARD OF DIRECTORS TO THE BYLAWS THAT DIRECTLY IMPACT THE VOTING MEMBERS POWERS. - APPROVE OR REJECT THE ANNUAL SLATE OF EXECUTIVE OFFICERS AND DIRECTORS PRESENTED TO THE GOVERNANCE COMMITTEE. IF THE VOTING MEMBERS REJECT ANY OF THE FOREGOING, THE VOTING MEMBERS SHALL BE OBLIGATED TO APPROVE AN ALTERNATIVE SLATE OF EXECUTIVE OFFICERS AND DIRECTORS FOR THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT/CEO AND FINANCE COMMITTEE WILL REVIEW THE FORM 990 FOR ACCURACY BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C NO VOTING CLASS MEMBER SHALL VOTE IN AN OFFICIAL CAPACITY UPON ANY MEASURE WHICH WOULD INURE TO HIS OR HER SPECIAL PRIVATE GAIN OR LOSS; WHICH HE OR SHE KNOWS WOULD INURE TO THE SPECIAL PRIVATE GAIN OR LOSS OF ANY PRINCIPAL BY WHOM HE OR SHE IS RETAINED OR TO THE PARENT ORGANIZATION OR SUBSIDIARY OF A CORPORATE PRINCIPAL BY WHICH HE OR SHE IS RETAINED; OR WHICH HE OR SHE KNOWS WOULD INURE TO THE SPECIAL PRIVATE GAIN OR LOSS OF A RELATIVE OR BUSINESS ASSOCIATE OF THE MEMBER. THE MEMBER SHALL, PRIOR TO THE VOTE BEING TAKEN, PUBLICLY STATE TO THE CORPORATION THE NATURE OF THE MEMBER'S INTEREST IN THE MATTER FROM WHICH HE OR SHE IS ABSTAINING FROM VOTING AND, WITHIN FIFTEEN (15) DAYS AFTER THE VOTE OCCURS, DISCLOSE THE NATURE OF HIS OR HER INTEREST AS A PUBLIC RECORD IN A MEMORANDUM FILED WITH THE PERSON RESPONSIBLE FOR RECORDING THE MINUTES OF THE MEETING, WHO SHALL INCORPORATE THE MEMORANDUM IN THE MINUTES. EMPLOYEES MUST AVOID ANY RELATIONSHIP OR ACTIVITY THAT MIGHT IMPAIR, OR EVEN APPEAR TO IMPAIR, THEIR ABILITY TO MAKE OBJECTIVE AND FAIR DECISIONS WHEN PERFORMING THEIR JOBS. AT TIMES, AN EMPLOYEE MAY BE FACED WITH SITUATIONS IN WHICH BUSINESS ACTIONS TAKEN ON BEHALF OF THE CFOC MAY CONFLICT WITH THE EMPLOYEE'S OWN PERSONAL INTERESTS. COMPANY PROPERTY, INFORMATION OR BUSINESS OPPORTUNITIES MAY NOT BE USED FOR PERSONAL GAIN. CONFLICTS OF INTEREST COULD ARISE IN THE FOLLOWING CIRCUMSTANCES: - BEING EMPLOYED BY, OR ACTING AS A CONSULTANT TO, A COMPETITOR OR POTENTIAL COMPETITOR, SUPPLIER OR CONTRACTOR, REGARDLESS OF THE NATURE OF THE EMPLOYMENT, WHILE EMPLOYED WITH THE CFDC. - HIRING OR SUPERVISING FAMILY MEMBERS OR CLOSELY RELATED PERSONS. - SERVING AS A BOARD MEMBER FOR AN OUTSIDE COMMERCIAL COMPANY OR ORGANIZATION. - OWNING OR HAVING A SUBSTANTIAL INTEREST IN A COMPETITOR, SUPPLIER OR CONTRACTOR ACCEPTING GIFTS, DISCOUNTS, FAVORS OR SERVICES FROM A CUSTOMER/POTENTIAL CUSTOMER, COMPETITOR OR SUPPLIER, OVER $50 UNLESS EQUALLY AVAILABLE TO ALL COMPANY EMPLOYEES. EMPLOYEES WITH A CONFLICT-OF-INTEREST QUESTION SHOULD SEEK ADVICE FROM THE PRESIDENT BEFORE ENGAGING IN ANY ACTIVITY, TRANSACTION OR RELATIONSHIP THAT MIGHT GIVE RISE TO A CONFLICT OF INTEREST. BOARD MEMBERS ANNUALLY AFFIRM THE POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE SHALL SERVE AS THE COMPENSATION COMMITTEE EACH FISCAL YEAR. THE CHAIR WILL SERVE AS CHAIR OF THE COMMITTEE. THE COMMITTEE SHALL HAVE THE FOLLOWING RESPONSIBILITIES AND SHALL MAKE RECOMMENDATIONS TO THE BOARD OF DIRECTORS FOR APPROVAL REGARDING THE FOLLOWING: - DEVELOP AND MAINTAIN ACCURATE AND UP-TO-DATE JOB DESCRIPTIONS FOR THE PRESIDENT AND ALL OTHER OFFICERS OF THE CORPORATION; - CONDUCT ANNUAL WRITTEN JOB PERFORMANCE EVALUATIONS OF THE PRESIDENT AND RECOMMEND BONUS AND OTHER INCENTIVE COMPENSATION, AS WELL AS SUGGESTED REVISIONS TO THE PRESIDENT'S EMPLOYMENT CONTRACT; AND - PROPOSE AN EMPLOYMENT CONTRACT FOR THE PRESIDENT, ESTABLISHING PERFORMANCE OBJECTIVES, BASE SALARY, BONUS CRITERIA AND ALL OTHER BENEFITS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.