Civic Intelligence

Franklin-Southampton Economic Development Inc.

990 • Fiscal year 2014 • EIN 13-4311862

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 04, 2015

601 N Mechanic Street23851

(757) 562-1958

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.03x

Higher debt load relative to assets than 33% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

45th percentile

0.08x

Higher debt load relative to revenue than 45% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

83rd percentile

26%

Higher net margin than 83% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

60th percentile

$80,000

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 16.7% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

75th percentile

13%

Faster asset growth than 75% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Up

$1,417,099

Up $165,519 (+13%) from 2013

Net Assets

Up

$1,376,788

Up $125,208 (+10%) from 2013

Liabilities

Up

$40,311

Up $40,311 from 2013

Revenue

$478,496

No earlier filing loaded for comparison.

Expenses

Up

$353,288

Up $3,260 (+0.9%) from 2013

Net Income

$125,208

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,229,665Liabilities 2011: $0Net Assets 2011: $1,229,6652011Assets 2012: $1,186,018Liabilities 2012: $0Net Assets 2012: $1,186,0182012Assets 2013: $1,251,580Liabilities 2013: $0Net Assets 2013: $1,251,5802013Assets 2014: $1,417,099Liabilities 2014: $40,311Net Assets 2014: $1,376,7882014Assets 2015: $1,517,547Liabilities 2015: $67,503Net Assets 2015: $1,450,0442015Assets 2016: $1,525,929Liabilities 2016: $47,903Net Assets 2016: $1,478,0262016Assets 2017: $1,435,605Liabilities 2017: $13,415Net Assets 2017: $1,422,1902017Assets 2018: $1,430,307Liabilities 2018: $25,941Net Assets 2018: $1,404,3662018Assets 2019: $1,406,337Liabilities 2019: $31,195Net Assets 2019: $1,375,1422019Assets 2021: $1,359,596Liabilities 2021: $3Net Assets 2021: $1,359,5932021Assets 2022: $1,287,926Liabilities 2022: $24Net Assets 2022: $1,287,9022022Assets 2023: $1,240,197Liabilities 2023: $14,323Net Assets 2023: $1,225,8742023Assets 2024: $1,197,978Liabilities 2024: $18,479Net Assets 2024: $1,179,4992024Assets 2025: $1,093,648Liabilities 2025: $27,736Net Assets 2025: $1,065,9122025

Highlighted filing

2014

Assets$1,417,099
Liabilities$40,311
Net Assets$1,376,788

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2011: $487,0322011Expenses 2012: $447,9172012Expenses 2013: $350,0282013Revenue 2014: $478,496Expenses 2014: $353,288Net Income 2014: $125,2082014Revenue 2015: $458,863Expenses 2015: $385,607Net Income 2015: $73,2562015Revenue 2016: $443,999Expenses 2016: $416,017Net Income 2016: $27,9822016Revenue 2017: $436,903Expenses 2017: $492,739Net Income 2017: -$55,8362017Revenue 2018: $448,307Expenses 2018: $466,131Net Income 2018: -$17,8242018Revenue 2019: $446,275Expenses 2019: $475,499Net Income 2019: -$29,2242019Revenue 2021: $703,357Expenses 2021: $596,732Net Income 2021: $106,6252021Revenue 2022: $406,765Expenses 2022: $478,456Net Income 2022: -$71,6912022Revenue 2023: $388,962Expenses 2023: $450,990Net Income 2023: -$62,0282023Revenue 2024: $449,138Expenses 2024: $495,513Net Income 2024: -$46,3752024Revenue 2025: $438,136Expenses 2025: $551,723Net Income 2025: -$113,5872025

Highlighted filing

2014

Revenue$478,496
Expenses$353,288
Net Income$125,208
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 4, 2015
Return Version
2013v4.0
Gross Receipts
$478,496
Mission and Program Overview

Mission

47to diversify the economy, create high quality jobs, and provide a future for the families and youth of franklin and southampton county.

To promote, market, and oversee developement activities for the city of franklin and southampton county

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$500,000$850,894▲ $350,894
Cash and Non-Interest-Bearing Accounts$741,361$552,130▼ $189,231
Land, Buildings, and Equipment, Net$9,031$8,087▼ $944
Accounts Receivable-$4,800-
Prepaid Expenses and Deferred Charges$1,188$1,188→ $0
Total Assets$1,251,580$1,417,099▲ $165,519
Liabilities
Deferred Revenue-$38,750-
Accounts Payable and Accrued Expenses-$1,561-
Total Liabilities$0$40,311▲ $40,311
Net Assets / Fund Balance
Unrestricted Net Assets$1,251,580$1,361,788▲ $110,208
Permanently Rstr Net Assets-$15,000-
Total Net Assets Fund Balance$1,251,580$1,376,788▲ $125,208
Total Liabilities and Net Assets / Fund Balance$1,251,580$1,417,099▲ $165,519

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,087$38,066$46,153
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Amanda C JarrattPresidentFT$80,000$80,000

Board Members and Trustees

NameTitle
E Warren Beale JrChairman
C Harrell TurnerVice Chairman
Brian HedgepethAt Large Member
Felicia D W BlowSecretary
Harriet Bain DuckTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$465,250
Program Service Revenue
$0
Investment Income
$5,828
Other Revenue
$7,418
All Other Contributions
$197,250
Change in Net Assets
$125,208

Audited Revenue Reconciliation

Revenue per Audited Statements
$478,496
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$478,496
Total Revenue per Form 990
$478,496
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$208,014
Other Expenses$145,274
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$107,457--$107,457
Current Officers, Directors, Trustees, and Key Employees$60,000$20,000-$80,000
Advertising$50,195--$50,195
Payroll Taxes$12,846$1,751-$14,597
Occupancy-$14,256-$14,256
Office Expenses$6,759$6,759-$13,518
Travel$13,035--$13,035
Fees for Services Other-$6,443-$6,443
Fees for Services Accounting-$5,900-$5,900
Pension Plan Contributions$4,638$633-$5,271
Insurance$1,623$1,623-$3,246
Conferences and Meetings$1,253$1,253-$2,506
Depreciation Depletion$2,477--$2,477
Other Employee Benefits$606$83-$689
Information Technology$445--$445
Fees for Services Legal-$310-$310
Other Expenses$2,600$185-$185
Total Functional Expenses$294,092$59,196$0$353,288

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$353,288
Total Expenses per Audited Statements$353,288
Total Expenses per Form 990$353,288
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Conflict-of-interest policy
Yes
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 11

The organization's audit committee reviews the form 990 prior to its filing.

Form 990, Part VI, Section B, Line 12C

Directors sign statements annually regarding compliance with the organization's conflict of interest policy.

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

On an annual basis the board reviews and approves the compensation of the organization's president.

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.

Filing and Contact Details

Filer

EIN
13-4311862
Phone
7575621958

Signing Officer

Name
Amanda C Jarratt
Title
President
Phone
7575621958
Signed
2015-02-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amanda C Jarratt
Formed
2005
Legal Domicile
Va
Voting Board Members
6
Independent Board Members
6
Employees
4
Volunteers
0

Preparer

Preparer
Mark a Nelson
Phone
7575784900
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organization's managment has evaluated the impact of fasb asc 740 to its financial statements and is not aware of any material uncertain tax positions as of june 30, 2014. The organization's annual tax returns (form 990) are generally subject to examination by authorties for a period of three years from the date they are filed and consequently, its returns filed for the years ended june 30, 2013, 2012, and 2011 remain subject to examination.

Raw XML Appendix399 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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IRS990ScheduleA/OtherIncome170Grp/TotalAmt033785
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.59720
IRS990ScheduleA/PublicSupportPY170Pct00.55370
IRS990ScheduleA/PublicSupportTotal170Amt01448268
IRS990ScheduleA/SubstantialContributorsTotAmt0916000
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0465250
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0400000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0393750
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0390018
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0715250
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02364268
IRS990ScheduleA/TotalSupportAmt02425013
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt08087
IRS990ScheduleD/EquipmentGrp/DepreciationAmt038066
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt046153
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0353288
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0478496
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S MANAGMENT HAS EVALUATED THE IMPACT OF FASB ASC 740 TO ITS FINANCIAL STATEMENTS AND IS NOT AWARE OF ANY MATERIAL UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2014. THE ORGANIZATION'S ANNUAL TAX RETURNS (FORM 990) ARE GENERALLY SUBJECT TO EXAMINATION BY AUTHORTIES FOR A PERIOD OF THREE YEARS FROM THE DATE THEY ARE FILED AND CONSEQUENTLY, ITS RETURNS FILED FOR THE YEARS ENDED JUNE 30, 2013, 2012, AND 2011 REMAIN SUBJECT TO EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08087
IRS990ScheduleD/TotalExpensesPerForm990Amt0353288
IRS990ScheduleD/TotalRevenuePerForm990Amt0478496
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0478496
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0353288
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S AUDIT COMMITTEE REVIEWS THE FORM 990 PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DIRECTORS SIGN STATEMENTS ANNUALLY REGARDING COMPLIANCE WITH THE ORGANIZATION'S CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ON AN ANNUAL BASIS THE BOARD REVIEWS AND APPROVES THE COMPENSATION OF THE ORGANIZATION'S PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0VA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01251580
IRS990/TotalAssetsEOYAmt01417099
IRS990/TotalAssetsGrp/BOYAmt01251580
IRS990/TotalAssetsGrp/EOYAmt01417099
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0465250
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt059196
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0294092
IRS990/TotalFunctionalExpensesGrp/TotalAmt0353288
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt040311
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt040311
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01251580
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01376788
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0294092
IRS990/TotalReportableCompFromOrgAmt080000
IRS990/TotalRevenueGrp/ExclusionAmt05828
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07418
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0478496
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01251580
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01417099
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt013035
IRS990/TravelGrp/TotalAmt013035
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01251580
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01361788
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10601 N MECHANIC STREET SUITE 300
IRS990/USAddress/City0FRANKLIN
IRS990/USAddress/State0VA
IRS990/USAddress/ZIPCode023851
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.FRANKLINSOUTHAMPTONVA.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0AMANDA C JARRATT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07575621958
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-02-04
ReturnHeader/Filer/BusinessName/BusinessNameLine10FRANKLIN SOUTHAMPTON ECONOMIC DEVELOPMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0134311862
ReturnHeader/Filer/PhoneNum07575621958
ReturnHeader/Filer/USAddress/AddressLine10601 N MECHANIC STREET
ReturnHeader/Filer/USAddress/City0FRANKLIN
ReturnHeader/Filer/USAddress/State0VA
ReturnHeader/Filer/USAddress/ZIPCode023851
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541967771
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10CAVANAUGH NELSON PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10999 WATERSIDE DRIVE SUITE 2250
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0NORFOLK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode023510
ReturnHeader/PreparerPersonGrp/PhoneNum07575784900
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARK A NELSON
ReturnHeader/ReturnTs02015-02-04T10:08:41-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.09$0.03$1.07$0.44$0.55$0.11
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.20$0.02$1.18$0.45$0.50$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.24$0.01$1.23$0.39$0.45$0.06
2022Detailed filing. Detailed filing data is available for this year.$1.29$0.00$1.29$0.41$0.48$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.36$0.00$1.36$0.70$0.60$0.11
2019Detailed filing. Detailed filing data is available for this year.$1.41$0.03$1.38$0.45$0.48$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.43$0.03$1.40$0.45$0.47$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.44$0.01$1.42$0.44$0.49$0.06
2016Detailed filing. Detailed filing data is available for this year.$1.53$0.05$1.48$0.44$0.42$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.52$0.07$1.45$0.46$0.39$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.42$0.04$1.38$0.48$0.35$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.25$0.00$1.25$0.35
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.19$0.00$1.19$0.45
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.00$1.23$0.49