Civic Intelligence

Martinsville-Henry County Economic

EIN 11-3843016 • 501(c)3 • Martinsville, VA

Profile

To expand the tax base and provide jobs for the martinsville/henry county by encouraging expansion of local businesses and industries and by recruiting new businesses to locate.

191 Fayette St Third FloorMartinsville, VA 24112

www.yesmartinsville.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

86th percentile

0.61x

Higher debt load relative to assets than 86% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2025

Net Margin

100th percentile

193%

Higher net margin than 100% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

96th percentile

$368,464

Higher top officer pay than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

3rd percentile

-75%

Faster asset growth than 3% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$1,593,640

Down $4,830,274 (-75%) from 2024

Liabilities

Down

$968,752

Down $39,893 (-4.0%) from 2024

Net Assets

Down

$624,888

Down $4,790,381 (-88%) from 2024

Operations
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

Down

-$2,575,361

Down $4,533,037 (-232%) from 2024

Expenses

Up

$2,397,520

Up $251,734 (+12%) from 2024

Net Income

Down

-$4,972,881

Down $4,784,771 (-2544%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth3rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $546,002Liabilities 2011: $214,013Net Assets 2011: $331,9892011Assets 2012: $264,975Liabilities 2012: $9,621Net Assets 2012: $255,3542012Assets 2013: $371,340Liabilities 2013: $126,170Net Assets 2013: $245,1702013Assets 2014: $568,987Liabilities 2014: $67,014Net Assets 2014: $501,9732014Assets 2015: $1,320,209Liabilities 2015: $704,561Net Assets 2015: $615,6482015Assets 2016: $1,418,306Liabilities 2016: $762,587Net Assets 2016: $655,7192016Assets 2017: $5,935,792Liabilities 2017: $731,731Net Assets 2017: $5,204,0612017Assets 2018: $7,096,872Liabilities 2018: $1,858,608Net Assets 2018: $5,238,2642018Assets 2019: $6,218,482Liabilities 2019: $938,649Net Assets 2019: $5,279,8332019Assets 2020: $6,089,258Liabilities 2020: $675,020Net Assets 2020: $5,414,2382020Assets 2021: $6,979,147Liabilities 2021: $1,499,203Net Assets 2021: $5,479,9442021Assets 2022: $5,581,528Liabilities 2022: $118,563Net Assets 2022: $5,462,9652022Assets 2023: $5,994,808Liabilities 2023: $586,429Net Assets 2023: $5,408,3792023Assets 2024: $6,423,914Liabilities 2024: $1,008,645Net Assets 2024: $5,415,2692024Assets 2025: $1,593,640Liabilities 2025: $968,752Net Assets 2025: $624,8882025

Highlighted filing

2025

Assets$1,593,640
Liabilities$968,752
Net Assets$624,888
Open 2025 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2011: $1,894,032Expenses 2011: $1,937,167Net Income 2011: -$43,1352011Revenue 2012: $2,107,581Expenses 2012: $2,184,216Net Income 2012: -$76,6352012Revenue 2013: $2,836,903Expenses 2013: $2,847,087Net Income 2013: -$10,1842013Revenue 2014: $2,070,908Expenses 2014: $1,814,105Net Income 2014: $256,8032014Revenue 2015: $2,276,684Expenses 2015: $2,272,260Net Income 2015: $4,4242015Revenue 2016: $2,751,424Expenses 2016: $2,711,353Net Income 2016: $40,0712016Revenue 2017: $7,677,229Expenses 2017: $2,798,537Net Income 2017: $4,878,6922017Revenue 2018: $1,857,459Expenses 2018: $1,823,256Net Income 2018: $34,2032018Revenue 2019: $2,473,267Expenses 2019: $2,460,739Net Income 2019: $12,5282019Revenue 2020: $2,920,470Expenses 2020: $2,948,565Net Income 2020: -$28,0952020Revenue 2021: $3,066,760Expenses 2021: $3,196,054Net Income 2021: -$129,2942021Revenue 2022: $2,331,961Expenses 2022: $2,543,940Net Income 2022: -$211,9792022Revenue 2023: $1,915,977Expenses 2023: $2,165,563Net Income 2023: -$249,5862023Revenue 2024: $1,957,676Expenses 2024: $2,145,786Net Income 2024: -$188,1102024Revenue 2025: -$2,575,361Expenses 2025: $2,397,520Net Income 2025: -$4,972,8812025

Highlighted filing

2025

Revenue-$2,575,361
Expenses$2,397,520
Net Income-$4,972,881
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,593,640
Liabilities
$968,752
Net assets
$624,888
Revenue
-$2,575,361
Expenses
$2,397,520
Net income
-$4,972,881
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.59$0.97$0.62$2.58$2.40$4.97
2024Detailed filing. Detailed filing data is available for this year.$6.42$1.01$5.42$1.96$2.15$0.19
2023Detailed filing. Detailed filing data is available for this year.$5.99$0.59$5.41$1.92$2.17$0.25
2022Detailed filing. Detailed filing data is available for this year.$5.58$0.12$5.46$2.33$2.54$0.21
2021Detailed filing. Detailed filing data is available for this year.$6.98$1.50$5.48$3.07$3.20$0.13
2020Summary only. Only limited summary data is available for this year.$6.09$0.68$5.41$2.92$2.95$0.03
2019Summary only. Only limited summary data is available for this year.$6.22$0.94$5.28$2.47$2.46$0.01
2018Detailed filing. Detailed filing data is available for this year.$7.10$1.86$5.24$1.86$1.82$0.03
2017Detailed filing. Detailed filing data is available for this year.$5.94$0.73$5.20$7.68$2.80$4.88
2016Detailed filing. Detailed filing data is available for this year.$1.42$0.76$0.66$2.75$2.71$0.04
2015Summary only. Only limited summary data is available for this year.$1.32$0.70$0.62$2.28$2.27$0.00
2014Summary only. Only limited summary data is available for this year.$0.57$0.07$0.50$2.07$1.81$0.26
2013Summary only. Only limited summary data is available for this year.$0.37$0.13$0.25$2.84$2.85$0.01
2012Summary only. Only limited summary data is available for this year.$0.26$0.01$0.26$2.11$2.18$0.08
2011Summary only. Only limited summary data is available for this year.$0.55$0.21$0.33$1.89$1.94$0.04
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Oct 28, 2025
Return Version
2024v5.2
Gross Receipts
$2,399,574
Mission and Program Overview

Mission

To expand the tax base and provide jobs for the martinsville/henry county by encouraging expansion of local businesses and industries and by recruiting new businesses to locate.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$5,016,624$0▼ $5,016,624
Savings and Temporary Cash Investments$1,120,599$1,239,199▲ $118,600
Land, Buildings, and Equipment, Net$170,317$184,788▲ $14,471
Accounts Receivable-$96,431-
Cash and Non-Interest-Bearing Accounts$68,626$72,145▲ $3,519
Prepaid Expenses and Deferred Charges$47,748$1,077▼ $46,671
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$6,423,914$1,593,640▼ $4,830,274
Other Assets Total-$0-
Liabilities
Deferred Revenue$995,750$951,491▼ $44,259
Accounts Payable and Accrued Expenses$12,895$17,261▲ $4,366
Total Liabilities$1,008,645$968,752▼ $39,893
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,415,269$624,888▼ $4,790,381
Total Net Assets Fund Balance$5,415,269$624,888▼ $4,790,381
Total Liabilities and Net Assets / Fund Balance$6,423,914$1,593,640▼ $4,830,274

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$139,814$294,287$434,101
Leasehold Improvements$44,974$21,673$66,647
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark HeathPresident & CEOFT$272,034$96,430$368,464

Board Members and Trustees

NameTitle
JAMES McCLAINChairman
David StoneVice Chairman
Aretha Ferrell-benavidesDirector
Dale WagonerDirector
Rev Charles WhitfieldDirector
Rhonda HodgesDirector
Gracie AgnewSecretary
Amy LampeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,217,488
Program Service Revenue
$12,000
Investment Income
$-4,901,280
Other Revenue
$96,431
All Other Contributions
$1,617,488
Change in Net Assets
$-4,972,881
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,023,345
Other Expenses$996,175
Grants and Similar Amounts Paid$378,000
Total Fundraising Expense$71,532
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$381,492$21,193$21,193$423,878
Grants to Domestic Orgs$378,000--$378,000
Current Officers, Directors, Trustees, and Key Employees$294,771$36,847$36,846$368,464
Advertising$286,844--$286,844
Pension Plan Contributions$92,638$5,145$5,145$102,928
Occupancy$74,227$8,247-$82,474
Other Employee Benefits$66,477$3,693$3,692$73,862
Depreciation Depletion$64,072$7,119-$71,191
Payroll Taxes$46,523$3,845$3,845$54,213
All Other Expenses$44,097$2,381$265$46,743
Fees for Services Accounting$41,040$4,560-$45,600
Office Expenses$23,366$2,593-$25,959
Travel$25,735--$25,735
Fees for Services Other$22,959$2,551-$25,510
Other Expenses$19,579$50,249-$19,579
Insurance$14,754$1,418$221$16,393
Conferences and Meetings$1,624$217$325$2,166
Total Functional Expenses$2,175,930$150,058$71,532$2,397,520
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Advanced Revert LLCRidgeway, VA-Building Improvements$150,000
Martinsville International LRidgeway, VA-Speedway Sponsorship$20,000
Henry County Parks & RecColinsville, VA-SMITH RIVER FEST; HENRY COUNTY FAIR$18,000
Rooster WalkMartinsville, VA-Music Festival$7,500
Press GlassRidgeway, VA-Lease Commonwealth Centre$0
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Mark HeathOfficerNmtc TransactionsNo-

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“President/ceo and treasurer review form 990 before filing.”

Form 990, Part VI, Section B, Line 15A

“Board of directors approves compensation of key employees.”

Form 990, Part VI, Section C, Line 19

“Other documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Martinsville-henry County Economic
EIN
11-3843016
Phone
2764035940
Address
191 FAYETTE ST THIRD FLOOR, MARTINSVILLE, VA 24112

Signing Officer

Name
Mark Heath
Title
President
Signed
2025-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Heath
Formed
2008
Legal Domicile
Va
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Foti Flynn Lowen & Co Pc
Address
501 S JEFFERSON ST, ROANOKE, VA 24011
Preparer
Bradley J Davis CPA
Phone
5403449246
Raw XML AppendixShowing 400 of 605 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm0MARK HEATH
IRS990/Form990PartVIISectionAGrp/PersonNm1RHONDA HODGES
IRS990/Form990PartVIISectionAGrp/PersonNm2ARETHA FERRELL-BENAVIDES
IRS990/Form990PartVIISectionAGrp/PersonNm3GRACIE AGNEW
IRS990/Form990PartVIISectionAGrp/PersonNm4DAVID STONE
IRS990/Form990PartVIISectionAGrp/PersonNm5AMY LAMPE
IRS990/Form990PartVIISectionAGrp/PersonNm6JAMES McCLAIN
IRS990/Form990PartVIISectionAGrp/PersonNm7DALE WAGONER
IRS990/Form990PartVIISectionAGrp/PersonNm8REV CHARLES WHITFIELD
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt5Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt6Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
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IRS990/PrincipalOfficerNm0MARK HEATH
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IRS990ScheduleA/FactsAndCircumstancesTestTxt0Prior Year Facts and Circumstances: THE ORGANIZATION MAINTAINS A CONTINUOUS AND BONA FIDE PROGRAM FOR SOLICITATION OF FUNDS FROM THE COUNTY OF HENRY AND THE CITY OF MARTINSVILLE. BOTH GOVERNMENTAL UNITS HAVE PROVIDED FUNDING TO THE ORGANIZAITON FOR THE PAST SEVERAL YEARS. OTHER SUPPORT OF THE ORGANIZATION GENERALLY COMES FORM THE HARVEST FOUNDATION. THE ORGANIZATION'S GOVERNING BOARD REPRESENTS THE BROAD INTERESTS OF MARTINSVILLE AND HENRY COUNTY AND CONSISTS OF LOCAL BUSINESS LEADERSHIP, LOCAL COLLEGE LEADERSHIP AND LOCAL GOVERNMENT LEADERS. ADDITIONALLY, THE ORGANIZATION IS RENTING THE COMMONWEALTH CROSSING BUSINESS CENTRE FROM CCAT, INC. AND IN TURN PROVIDING THE FACILITY TO LOCAL BUSINESS ORGANIZATIONS AT NO COST IN AN EFFORT TO FURTHER THE MISSION OF EXPANDING BUSINESS IN THE MARTINSVILLE/HENRY COUNTY AREA TO IN TURN PROVIDE JOBS AND EXPAND THE TAX BASE IN THIS ECONOMICALLY DEPRESSED AREA.
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IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0IN-KIND RENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0BUILDING IMPROVEMENTS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SMITH RIVER FEST; HENRY COUNTY FAIR
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2SPEEDWAY SPONSORSHIP
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3LEASE COMMONWEALTH CENTRE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4MUSIC FESTIVAL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Advanced Revert LLC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1HENRY COUNTY PARKS & REC

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