Civic Intelligence

Piscataquis County Economic Development Council

990 • Fiscal year 2019 • EIN 01-0521521

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 16, 2020

Organization Profilewww.pcedc.org
50 Mayo StreetDover Foxcroft, ME 04426

(207) 564-3668

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

36th percentile

0.01x

Higher debt load relative to assets than 36% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

38th percentile

0.01x

Higher debt load relative to revenue than 38% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

44th percentile

1.5%

Higher net margin than 44% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

43rd percentile

0.8%

Faster asset growth than 43% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

18th percentile

-16%

Faster revenue growth than 18% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$657,572

Up $5,190 (+0.8%) from 2018

Net Assets

Up

$654,185

Up $4,282 (+0.7%) from 2018

Liabilities

Up

$3,387

Up $908 (+37%) from 2018

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin44th percentile

Revenue

Down

$376,581

Down $74,038 (-16%) from 2018

Expenses

Down

$370,863

Down $23,387 (-5.9%) from 2018

Net Income

Down

$5,718

Down $50,651 (-90%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800K$600K$400K$200K$0Assets 2011: $128,311Liabilities 2011: $2,280Net Assets 2011: $126,0312011Assets 2012: $191,432Liabilities 2012: $419Net Assets 2012: $191,0132012Assets 2013: $212,647Liabilities 2013: $1,497Net Assets 2013: $211,1502013Assets 2014: $499,433Liabilities 2014: $3,776Net Assets 2014: $495,6572014Assets 2015: $537,827Liabilities 2015: $3,055Net Assets 2015: $534,7722015Assets 2016: $606,543Liabilities 2016: $2,909Net Assets 2016: $603,6342016Assets 2017: $595,877Liabilities 2017: $2,343Net Assets 2017: $593,5342017Assets 2018: $652,382Liabilities 2018: $2,479Net Assets 2018: $649,9032018Assets 2019: $657,572Liabilities 2019: $3,387Net Assets 2019: $654,1852019Assets 2020: $690,853Liabilities 2020: $19,825Net Assets 2020: $671,0282020Assets 2021: $741,779Liabilities 2021: $17,698Net Assets 2021: $724,0812021Assets 2022: $712,478Liabilities 2022: $4,767Net Assets 2022: $707,7112022Assets 2023: $716,616Liabilities 2023: $3,443Net Assets 2023: $713,1732023Assets 2024: $711,589Liabilities 2024: $13Net Assets 2024: $711,5762024

Highlighted filing

2019

Assets$657,572
Liabilities$3,387
Net Assets$654,185
Open 2019 Filing

Operations Trend

Revenue Growth18th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KExpenses 2011: $206,4472011Expenses 2012: $123,1092012Revenue 2013: $327,732Expenses 2013: $307,595Net Income 2013: $20,1372013Revenue 2014: $556,313Expenses 2014: $271,806Net Income 2014: $284,5072014Revenue 2015: $158,184Expenses 2015: $119,069Net Income 2015: $39,1152015Revenue 2016: $372,934Expenses 2016: $304,072Net Income 2016: $68,8622016Revenue 2017: $346,332Expenses 2017: $357,078Net Income 2017: -$10,7462017Revenue 2018: $450,619Expenses 2018: $394,250Net Income 2018: $56,3692018Revenue 2019: $376,581Expenses 2019: $370,863Net Income 2019: $5,7182019Revenue 2020: $253,834Expenses 2020: $236,991Net Income 2020: $16,8432020Revenue 2021: $245,939Expenses 2021: $192,886Net Income 2021: $53,0532021Revenue 2022: $222,036Expenses 2022: $238,406Net Income 2022: -$16,3702022Revenue 2023: $453,026Expenses 2023: $447,564Net Income 2023: $5,4622023Revenue 2024: $465,378Expenses 2024: $466,975Net Income 2024: -$1,5972024

Highlighted filing

2019

Revenue$376,581
Expenses$370,863
Net Income$5,718
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 16, 2020
Return Version
2019v5.1
Gross Receipts
$376,581
Mission and Program Overview

Mission

Promoting economic development and generating jobs in Piscataquis County, Maine

Promoting economic development and generating jobs in Piscataquis County Maine

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net-$335,000-
Cash and Non-Interest-Bearing Accounts$649,335$319,229▼ $330,106
Land, Buildings, and Equipment, Net$3,047$3,343▲ $296
Total Assets$652,382$657,572▲ $5,190
Liabilities
Accounts Payable and Accrued Expenses$2,479$3,387▲ $908
Total Liabilities$2,479$3,387▲ $908
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$623,084$582,261▼ $40,823
Net Assets With Donor Restrictions$26,819$71,924▲ $45,105
Total Net Assets Fund Balance$649,903$654,185▲ $4,282
Total Liabilities and Net Assets / Fund Balance$652,382$657,572▲ $5,190

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,343$4,637$7,980
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Denise BuzzelliPresident
Tom GoulletteVice President
Jack ClukeyDirector
James AnnisDirector
James MacomberDirector
Jenny WardDirector
Kathy WhiteDirector
Lucas ButlerDirector
Michelle McmahonDirector
Paul StearnsDirector
Scott MoultonDirector
Angela ArnoSecretary
Thelma ReaganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$370,969
Program Service Revenue
$0
Investment Income
$133
Other Revenue
$5,479
All Other Contributions
$17,137
Change in Net Assets
$5,718
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$256,077
Salaries, Compensation, and Employee Benefits$114,786
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$44,853$62,904-$107,757
Travel$11,697$10,550-$22,247
Fees for Services Other$12,972--$12,972
Conferences and Meetings$11,561$350-$11,911
Payroll Taxes$3,431$3,598-$7,029
Advertising$4,925$1,525-$6,450
Occupancy-$5,995-$5,995
Fees for Services Accounting-$5,869-$5,869
Office Expenses$1,815$2,961-$4,776
Insurance-$2,396-$2,396
Other Expenses$1,163$5,941-$1,163
Depreciation Depletion-$915-$915
All Other Expenses$235$528-$763
Fees for Services Legal$350--$350
Total Functional Expenses$267,331$103,532$0$370,863
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Organizations process to review form 990 financial statements are compiled by and reviewed by appropriate officers.”

Form 990, Part VI, Section C, Line 19

“Company does not make the 990 available.”

Filing and Contact Details

Filer

Filer Name
Piscataquis County Economic Development Council
EIN
01-0521521
Phone
2075643668
Address
50 Mayo Street, Dover Foxcroft, ME 04426

Signing Officer

Name
Denise Buzzelli
Title
President
Signed
2020-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Denise Buzzelli
Formed
1997
Legal Domicile
Me
Voting Board Members
13
Independent Board Members
13
Employees
2
Volunteers
13

Preparer

Firm
RHR Smith & Company CPA's
Address
3 Old Orchard Road, Buxton, ME 04093
Preparer
Ronald Smith
Phone
2079294606
Supplemental Narrative

Financial Statement Notes

X 2

“PCEDC is exempt from federeal income taxes under Section 501c3 of the Internal Revenue Code and applicable state law. The accounting standards on accounting for uncertainty in income taxes address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, PCEDC may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of PCEDC and varios positions related to the potential sourced of unrelated business taxable income. The tax benefits recognized in the financial statements from a tax position are measured based on the largest benefit that has a greater than 50 likelihood of being realized upon iltimate settlement. Management believes that there were no potential sources of unrelated business taxable income subject to tax for the year ended December 31, 2019. Accordingly, no porvision for income taxes has been made. PCEDC files its forms 990 in the U.S. federal jurisdiction and the office of the states attorney general for the State of Maine. PCEDC is generally no longer subject to examination by the Interal Revenue Service for years before 2016.”

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ReturnHeader/BuildTS02021-01-29 14:40:06Z
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ReturnHeader/FilingSecurityInformation/IPTm012:45:59
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RHR Smith & Company CPA's
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03 Old Orchard Road
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Buxton
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0ME
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$657,572
Liabilities
$3,387
Net assets
$654,185
Revenue
$376,581
Expenses
$370,863
Net income
$5,718
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.12$0.00$7.12$4.65$4.67$0.02
2023Detailed filing. Detailed filing data is available for this year.$7.17$0.03$7.13$4.53$4.48$0.05
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.12$0.05$7.08$2.22$2.38$0.16
2021Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$7.42$0.18$7.24$2.46$1.93$0.53
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.91$0.20$6.71$2.54$2.37$0.17
2019Detailed filing. Detailed filing data is available for this year.$6.58$0.03$6.54$3.77$3.71$0.06
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.52$0.02$6.50$4.51$3.94$0.56
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.96$0.02$5.94$3.46$3.57$0.11
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.07$0.03$6.04$3.73$3.04$0.69
2015Detailed filing. Detailed filing data is available for this year.$5.38$0.03$5.35$1.58$1.19$0.39
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.99$0.04$4.96$5.56$2.72$2.85
2013Detailed filing. Detailed filing data is available for this year.$2.13$0.01$2.11$3.28$3.08$0.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.91$0.00$1.91$1.23
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.28$0.02$1.26$2.06