Florida First Capital Finance Corporation Inc in Tallahassee, Florida (FL)

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Florida First Capital Finance Corporation Inc
Employer Identification Number (EIN)592515700
Name of OrganizationFlorida First Capital Finance Corporation Inc
AddressPO BOX 4166, Tallahassee, FL 32315-4166
ActivitiesBusiness promotion (chamber of commerce, business league, etc.), Attracting new industry or retaining industry in an area
SubsectionLocal Association of Employees
Ruling Date10/1985
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$50,000,000 to greater
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$391,739,831
Amount of Income$3,441,052
Form 990 Revenue Amount$3,441,052
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Management Services for Small Business, Entrepreneurs


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Amount of income in 2011: $3,441,052
Florida First Capital Finance Corporation Inc: 

 $3,441,052
Other organizations performing similar types of work: 

 $686,391

Assets in 2011: $391,739,831
Florida First Capital Finance Corporation Inc: 

 $391,739,831
Other organizations performing similar types of work: 

 $2,745,450

Expenses in 2007: $3,625,498
This organization: 

 $3,625,498
Other organizations performing similar types of work: 

 $659,434

Income to expenses ratio in 2007: 1.2
Florida First Capital Finance Corporation Inc: 

 1.2
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 100.0%
This organization: 

 100.0%
Other organizations performing similar types of work: 

 80.1%

Number of employees in 2007: 35
Florida First Capital Finance Corporation Inc: 

 35
Other organizations performing similar types of work: 

 7

Employees paid over $50,000 in 2007: 2.9%
This organization: 

 2.9%
Other organizations performing similar types of work: 

 25.0%

Grants share in income in 2007: 0.0%
Florida First Capital Finance Corporation Inc: 

 0.0%
Other organizations performing similar types of work: 

 7.4%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$2,834,463$1,133,581$1,114,700$1,798,934$2,092,178$2,850,909$3,583,085$4,310,276
Contributions, gifts, grants, and similar amounts received$125,000$0$0$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$125,000$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$2,606,956$964,191$967,698$1,652,491$1,945,696$2,705,851$3,561,239$4,282,181
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$100,007$152,929$131,692$0$0$0$0$0
Dividends and interest from securities$0$0$0$129,548$125,585$135,039$0$0
Net rental income or (loss)$0$0$15,000$7,880$1,800$0$0$0
Gross rents$0$0$15,000$7,880$1,800$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$21,827$21,936
Gain or (loss) from sales of assets other than inventory$0$0$0$0$0$0$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$0$0$0
Less: cost or other basis and sales expenses$0$0$0$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$2,500$16,461$310$9,015$19,097$10,019$19$6,159
Total expenses$2,621,436$1,142,998$1,330,574$1,812,818$2,354,212$2,694,120$3,346,550$3,625,498
Program services$2,621,436$1,142,998$1,330,574$1,812,818$2,354,212$2,694,120$3,346,550$3,625,498
Management and general$0$0$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$1,454,411$1,444,994$1,229,120$1,215,236$944,701$1,101,489$1,338,024$2,022,802
Excess or (deficit) for the year$213,027$-9,417$-215,874$-13,884$-262,034$156,789$236,535$684,778
Net assets or fund balances at beginning of year$1,237,773$1,454,411$1,444,994$1,229,120$1,215,236$944,700$1,101,489$1,338,024
Other changes in net assets or fund balances$3,611$0$0$0$-8,501$0$0$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$3,625,498$3,625,498$0$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$297,807$297,807$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$2,067,014$2,067,014$0$0
Pension plan contributions not included above$212,522$212,522$0$0
Employee benefits not included above$202,102$202,102$0$0
Payroll taxes$150,494$150,494$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$12,000$12,000$0$0
Legal fees$20,800$20,800$0$0
Supplies$25,635$25,635$0$0
Telephone$87,470$87,470$0$0
Postage and shipping$51,737$51,737$0$0
Occupancy$56,451$56,451$0$0
Equipment rental and maintenance$18,127$18,127$0$0
Printing and publications$4,094$4,094$0$0
Travel$17,254$17,254$0$0
Conferences, conventions, and meetings$75,683$75,683$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$52,119$52,119$0$0
Other expenses not covered above$274,189$274,189$0$0
Balance Sheets
20002001200220032004200520062007
Total assets$42,569,909$58,717,197$73,123,495$98,185,996$145,633,490$180,412,266$286,688,876$361,504,355
Cash - non-interest-bearing$3,773,211$3,250,131$2,778,978$3,029,194$5,950,206$1,222,279$0$0
Savings and temporary cash investments$1,779,575$895,180$937,054$0$0$0$2,622,249$3,296,451
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$0$3,655$2,430
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$36,276,344$51,432,457$66,323,117$91,322,265$123,472,932$171,037,246$282,015,102$356,003,623
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$5,691$0$12,847$16,689$12,410$6,974
Investments - publicly-traded securities$0$0
Investments - other securities$0$0$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$4,575$0$0$0$1,686,241$0$0
Land, buildings, and equipment less accumulated depreciation$349,781$356,814$362,410$392,361$421,071$459,466$433,342$418,408
Other assets, including program-related investments$390,998$2,778,040$2,716,245$3,442,176$15,776,434$5,990,345$1,602,118$1,776,469
Total liabilities$41,115,498$57,272,203$71,894,375$96,970,760$144,688,789$179,310,777$285,350,852$359,481,553
Accounts payable and accrued expenses$34,175,160$51,788,967$412,762$711,936$770,659$1,090,850$1,663,466$2,007,040
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$462,857$358,657$313,975$266,866$208,047$130,629$33,016
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$1,812,500$67,867,501$92,634,765$19,772,034$177,477,643$276,627,150$351,717,627
Other liabilities$6,940,338$3,207,879$3,255,455$3,310,084$123,879,230$534,237$6,929,607$5,723,870
Total liabilities and net assets/fund balances$42,569,909$58,717,197$73,123,495$98,185,996$145,633,490$180,412,266$286,688,876$361,504,355
Total net assets or fund balances$1,454,411$1,444,994$1,229,120$1,215,236$944,701$1,101,489$1,338,024$2,022,802
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$2,834,463$1,133,581$1,114,700$1,798,934$2,092,178$2,850,909$3,583,085$4,310,276
Total revenue, gains, and other support per audited financial statements$2,834,463$1,133,581$1,114,700$1,798,934$2,092,178$2,850,909$3,583,085$4,310,276
Other expenses$0$0$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$2,621,436$1,142,998$1,330,574$1,812,818$2,354,212$2,694,120$3,346,550$3,625,498
Total expenses and losses per audited financial statements$2,621,436$1,142,998$1,330,574$1,812,818$2,354,212$2,694,120$3,346,550$3,625,498
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$268,557$29,250$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings7
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200635
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$21,936$4,288,340
Program service revenue
Program service revenue 1000000$000$0$3,702,898
Program service revenue 2000000$000$0$430,205
Program service revenue 3000000$000$0$149,078
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$21,936$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$6,159
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2010)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2010)
Total revenue$3,381,491
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$3,381,491
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$0
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2010)
Total functional expenses$3,665,499
Compensation of current officers, directors, trustees, and key employees$251,224
Other salaries and wages$2,164,497
Payroll taxes$175,417
Professional fundraising services$0
Other$1,074,361
Balance Sheet (for 2010)
Total assets$364,629,880
Total liabilities$363,489,921
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$363,489,921
Total net assets or fund balances$1,139,959
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2010)
The organization is not a private foundation because it is:Not provided
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Cdc Small Business Finance Corp2448 Historic Decatur Road, San Diego, CA 92106-6116CA1981-09$20,511,708
2Ben Franklin Technology Center Of Southeastern Pennsylvania4800 S 13th St Ste 200, Philadelphia, PA 19112-1324PA1989-07$11,187,748
3Tulsa Economic Development Corporation125 W 3rd St, Tulsa, OK 74103-3427OK1981-04$4,973,614
4Houston Business Development Inc, Houston Small Business Development5330 Griggs Rd, Houston, TX 77021-3700TX1993-07$4,712,797
5Trickle Up Program Inc104 W 27th St, New York, NY 10001-6210NY1981-06$4,669,901
6Florida First Capital Finance Corporation IncPO BOX 4166, Tallahassee, FL 32315-4166FL1985-10$3,441,052
7Twin Cities-Metro Certified Development Company3495 Vadnais Center Dr, Vadnais Hts, MN 55110-5194MN1995-06$2,965,349
8Renaissance Entrepreneurship Center275 5th St Fl 2, San Francisco, CA 94103-4164CA1982-05$2,851,410
9Common Capital Inc4 Open Square Way Ste 407, Holyoke, MA 01040-6378MA1990-10$2,769,307
10South Eastern Economic Dev Corp80 Dean St, Taunton, MA 02780-2713MA1983-04$2,187,462
11Edc Finance CorporationPO BOX 1558, Lancaster, PA 17608-1558PA1989-06$1,890,990
12Cascadia Revolving FundSeattle, WA 98107WA$1,827,217
13Utah Technology Finance CorpSalt Lake City, UT 84111UT$1,727,375
14Tie Silicon Valley Inc2903 Bunker Hill Lane, Santa Clara, CA 95054-1141CA1997-07$1,594,918
15Worcester Business Development Corporation89 Shrewsbury St Ste 300, Worcester, MA 01604-4655MA1966-09$1,558,993
16Metropolitan Consortium Of Community Developers3137 Chicago Ave, Minneapolis, MN 55407-1532MN1994-05$1,139,157
17Carolinas Minority Supplier Development Councils Inc9115 Harris Corners Parkway, Charlotte, NC 28269-3706NC1983-04$1,138,467
18Mississippi Business Finance Corporation735 Riverside Dr Ste 300, Jackson, MS 39202-1166MS1983-10$1,066,046
19Barberton Community Development Corporation542 W Tuscarawas Ave, Barberton, OH 44203-2520OH1987-04$1,036,677
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Number of organizations performing similar types of work
Alabama1
Arizona1
California12
Colorado1
Connecticut1
Delaware1
Florida1
Illinois1
Indiana2
Louisiana1
Massachusetts4
Minnesota2
Missouri1
Mississippi2
Montana2
North Carolina4
North Dakota1
New Jersey2
New York3
Ohio4
Oklahoma1
Oregon2
Pennsylvania3
South Carolina1
South Dakota2
Texas2
Utah1
Virginia1
Washington2
Wisconsin2
West Virginia2
Total66

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