Civic Intelligence

Franklin-Southampton Economic Development Inc.

990 • Fiscal year 2021 • EIN 13-4311862

Jul 01, 2020 to Jun 30, 2021 • Filed on Dec 09, 2021

Organization ProfileWWW.FRANKLINSOUTHAMPTONVA.COM
601 N Mechanic Street No 300Franklin, VA 23851

(757) 562-1958

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Higher debt load relative to assets than 17% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

17th percentile

0.00x

Higher debt load relative to revenue than 17% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

55th percentile

15%

Higher net margin than 55% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

72nd percentile

$104,272

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 14.8% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

22nd percentile

-1.7%

Faster asset growth than 22% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2021

Revenue Growth

63rd percentile

26%

Faster revenue growth than 63% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2021

Balance Sheet
Liabilities / Assets17th percentile

Assets

Down

$1,359,596

Down $46,741 (-3.3%) from 2019

Net Assets

Down

$1,359,593

Down $15,549 (-1.1%) from 2019

Liabilities

Down

$3

Down $31,192 (-100%) from 2019

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin55th percentile

Revenue

Up

$703,357

Up $257,082 (+58%) from 2019

Expenses

Up

$596,732

Up $121,233 (+25%) from 2019

Net Income

Up

$106,625

Up $135,849 (+465%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

2021

Assets$1,359,596
Liabilities$3
Net Assets$1,359,593
Open 2021 Filing

Operations Trend

Revenue Growth63rd percentile

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

2021

Revenue$703,357
Expenses$596,732
Net Income$106,625
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Dec 9, 2021
Return Version
2020v4.1
Gross Receipts
$703,357
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 development activities for the city of franklin and southampton county

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,302,776$1,343,445▲ $40,669
Land, Buildings, and Equipment, Net$15,645$12,316▼ $3,329
Other Notes and Loans Receivable, Net$6,557$2,747▼ $3,810
Prepaid Expenses and Deferred Charges$1,088$1,088→ $0
Total Assets$1,326,066$1,359,596▲ $33,530
Liabilities
Unsecured Notes Loans Payable$44,985--
Accounts Payable and Accrued Expenses$28,113$3▼ $28,110
Total Liabilities$73,098$3▼ $73,095
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,237,968$1,344,593▲ $106,625
Net Assets With Donor Restrictions$15,000$15,000→ $0
Total Net Assets Fund Balance$1,252,968$1,359,593▲ $106,625
Total Liabilities and Net Assets / Fund Balance$1,326,066$1,359,596▲ $33,530

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$12,316$79,633$91,949
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jay BrenchickPresidentFT$101,410$2,862$104,272

Board Members and Trustees

NameTitle
C Harrell TurnerChairman
Brian HedgepethVice-chairman
E Warren Beale JrDirector
Felicia W BlowSecretary
Harriet Bain DuckTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$694,785
Program Service Revenue
$0
Investment Income
$7,939
Other Revenue
$633
All Other Contributions
$370,000
Change in Net Assets
$106,625

Audited Revenue Reconciliation

Revenue per Audited Statements
$703,357
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$703,357
Total Revenue per Form 990
$703,357
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$215,350
Salaries, Compensation, and Employee Benefits$214,976
Other Expenses$166,406
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$215,350--$215,350
Current Officers, Directors, Trustees, and Key Employees$71,558$23,853-$95,411
Other Salaries and Wages$85,424--$85,424
Fees for Services Other$5,668$33,651-$39,319
Advertising$29,894--$29,894
Other Employee Benefits$12,780$1,742-$14,522
Occupancy-$14,256-$14,256
Payroll Taxes$12,544$1,710-$14,254
Travel$13,128--$13,128
Office Expenses$4,949$4,953-$9,902
Information Technology$9,051--$9,051
Pension Plan Contributions$4,721$644-$5,365
Insurance$1,772$1,772-$3,544
Depreciation Depletion$3,329--$3,329
Other Expenses$5,000$2,858-$2,858
Conferences and Meetings$387$387-$774
Total Functional Expenses$510,906$85,826$0$596,732

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$596,732
Total Expenses per Audited Statements$596,732
Total Expenses per Form 990$596,732
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Franklin & Southampton County Businesses - No Single Grant Exceeding 5000Franklin, VA-Assistance for Covid Pandemic Relief$215,350
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 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
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 11B

“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

Filer Name
Franklin Southampton Economic
EIN
13-4311862
Phone
7575621958
Address
601 N MECHANIC STREET NO 300, FRANKLIN, VA 23851

Signing Officer

Name
Karl Heck
Title
President
Phone
7575621958
Signed
2021-12-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karl Heck
Formed
2005
Legal Domicile
Va
Voting Board Members
5
Independent Board Members
5
Employees
4
Volunteers
0

Preparer

Firm
Cavanaugh Nelson Plc
Address
999 WATERSIDE DRIVE SUITE 2250, NORFOLK, VA 23510
Preparer
Mark a Nelson
Phone
7575784900
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The organization's management 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, 2020. The organization's annual tax returns (form 990) are generally subject to examination by authorities for a period of three years from the date they are filed and consequently, the organization's tax returns filed for the years ended june 30, 2020, 2019, and 2018 remain subject to examination.”

Raw XML AppendixShowing 400 of 421 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt028113
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt03
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO PROMOTE, MARKET, AND OVERSEE DEVELOPMENT ACTIVITIES FOR THE CITY OF FRANKLIN AND SOUTHAMPTON COUNTY
IRS990/AdvertisingGrp/ProgramServicesAmt029894
IRS990/AdvertisingGrp/TotalAmt029894
IRS990/AllOtherContributionsAmt0370000
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0THE ORGANIZATION
IRS990/BooksInCareOfDetail/PhoneNum07575621958
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0601 N MECHANIC STREET NO 300
IRS990/BooksInCareOfDetail/USAddress/CityNm0FRANKLIN
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0VA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd023851
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt023853
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt071558
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt095411
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd00
IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt0387
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt0387
IRS990/ConferencesMeetingsGrp/TotalAmt0774
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0694785
IRS990/CYGrantsAndSimilarPaidAmt0215350
IRS990/CYInvestmentIncomeAmt07939
IRS990/CYOtherExpensesAmt0166406
IRS990/CYOtherRevenueAmt0633
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0106625
IRS990/CYSalariesCompEmpBnftPaidAmt0214976
IRS990/CYTotalExpensesAmt0596732
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0703357
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ProgramServicesAmt03329
IRS990/DepreciationDepletionGrp/TotalAmt03329
IRS990/Desc0ACTIVITES TO PROMOTE THE ECONOMIC VITALITY OF FRANKLIN AND SOUTHAMPTON COUNTY INCLUDING:MARKET THE COMMUNITY'S ASSETS TO ATTACT NEW BUSINESSES WITH CAPITAL INVESTMENT AND OPPORTUNITIES FOR JOB CREATION, INCLUDING COORDINATING LOCAL AND STATE INCENTIVE PROGRAMS. PROVIDE TECHINCAL TRAINING AND ASSITANCE TO EXISTING BUSINESSES, INCLUDING OPERATION OF THE FRANKLIN BUSINESS CENTER. DEVELOP PROGRAMS TO FOSTER SMALL BUSINESS GROWTH AND ENTREPRENEURSHIP. CREATE AN ATMOSPHERE TO FOSTER TOURISM THAT WILL TAKE ADVANTAGE OF THE COMMUNITY'S EXISTING NATURAL AND HISTORIC ASSETS.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt015000
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt015000
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt04
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0510906
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt033651
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt05668
IRS990/FeesForServicesOtherGrp/TotalAmt039319
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form1098CFiledInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form8899Filedind00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt540.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt52862
IRS990/Form990PartVIISectionAGrp/PersonNm0E WARREN BEALE JR
IRS990/Form990PartVIISectionAGrp/PersonNm1HARRIET BAIN DUCK
IRS990/Form990PartVIISectionAGrp/PersonNm2FELICIA W BLOW
IRS990/Form990PartVIISectionAGrp/PersonNm3C HARRELL TURNER
IRS990/Form990PartVIISectionAGrp/PersonNm4BRIAN HEDGEPETH
IRS990/Form990PartVIISectionAGrp/PersonNm5JAY BRENCHICK
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt5101410
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE-CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt5PRESIDENT
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02005
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt05
IRS990/GovernmentGrantsAmt0324785
IRS990/GrantAmt0215350
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0215350
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0215350
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0703357
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt05
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ProgramServicesAmt09051
IRS990/InformationTechnologyGrp/TotalAmt09051
IRS990/InsuranceGrp/ManagementAndGeneralAmt01772
IRS990/InsuranceGrp/ProgramServicesAmt01772
IRS990/InsuranceGrp/TotalAmt03544
IRS990/InvestmentIncomeGrp/ExclusionAmt07939
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt07939
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt079633
IRS990/LandBldgEquipBasisNetGrp/BOYAmt015645
IRS990/LandBldgEquipBasisNetGrp/EOYAmt012316
IRS990/LandBldgEquipCostOrOtherBssAmt091949
IRS990/LegalDomicileStateCd0VA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO DIVERSIFY THE ECONOMY, CREATE HIGH QUALITY JOBS, AND PROVIDE A FUTURE FOR THE FAMILIES AND YOUTH OF FRANKLIN AND SOUTHAMPTON COUNTY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01252968
IRS990/NetAssetsOrFundBalancesEOYAmt01359593
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01237968
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01344593
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt014256
IRS990/OccupancyGrp/TotalAmt014256
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04953
IRS990/OfficeExpensesGrp/ProgramServicesAmt04949
IRS990/OfficeExpensesGrp/TotalAmt09902
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01742
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt012780
IRS990/OtherEmployeeBenefitsGrp/TotalAmt014522
IRS990/OtherExpensesGrp/Desc0HREDA MEMBERSHIP
IRS990/OtherExpensesGrp/Desc1DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc2DONATIONS/CONTRIBUTIONS
IRS990/OtherExpensesGrp/Desc3OTHER EXPENSES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02858
IRS990/OtherExpensesGrp/ProgramServicesAmt029695
IRS990/OtherExpensesGrp/ProgramServicesAmt15656
IRS990/OtherExpensesGrp/ProgramServicesAmt25000
IRS990/OtherExpensesGrp/TotalAmt029695
IRS990/OtherExpensesGrp/TotalAmt15656
IRS990/OtherExpensesGrp/TotalAmt25000
IRS990/OtherExpensesGrp/TotalAmt32858
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt0633
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0633
IRS990/OtherRevenueTotalAmt0633
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt085424
IRS990/OtherSalariesAndWagesGrp/TotalAmt085424
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt06557
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt02747
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01710
IRS990/PayrollTaxesGrp/ProgramServicesAmt012544
IRS990/PayrollTaxesGrp/TotalAmt014254
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0644
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt04721
IRS990/PensionPlanContributionsGrp/TotalAmt05365
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01088
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01088
IRS990/PrincipalOfficerNm0KARL HECK
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0445000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0115394
IRS990/PYInvestmentIncomeAmt013977
IRS990/PYOtherExpensesAmt0204339
IRS990/PYOtherRevenueAmt01452
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-122174
IRS990/PYSalariesCompEmpBnftPaidAmt0262870
IRS990/PYTotalExpensesAmt0582603
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0460429
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0106625
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01302776
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01343445
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0694785
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0445000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0432000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0434000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0425000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02430785
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt07939
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt013977
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt014170
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt013929
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt011605
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt061620
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0633
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt01452
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0105
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0378
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0298
IRS990ScheduleA/OtherIncome170Grp/TotalAmt02866
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.61030
IRS990ScheduleA/PublicSupportPY170Pct00.61750
IRS990ScheduleA/PublicSupportTotal170Amt01522810
IRS990ScheduleA/SubstantialContributorsTotAmt0907975
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0694785
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0445000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0432000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0434000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0425000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02430785
IRS990ScheduleA/TotalSupportAmt02495271
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/BookValueAmt012316
IRS990ScheduleD/EquipmentGrp/DepreciationAmt079633
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt091949
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0596732
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0703357
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S MANAGEMENT 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, 2020. THE ORGANIZATION'S ANNUAL TAX RETURNS (FORM 990) ARE GENERALLY SUBJECT TO EXAMINATION BY AUTHORITIES FOR A PERIOD OF THREE YEARS FROM THE DATE THEY ARE FILED AND CONSEQUENTLY, THE ORGANIZATION'S TAX RETURNS FILED FOR THE YEARS ENDED JUNE 30, 2020, 2019, AND 2018 REMAIN SUBJECT TO EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt012316
IRS990ScheduleD/TotalExpensesPerForm990Amt0596732
IRS990ScheduleD/TotalRevenuePerForm990Amt0703357
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0703357
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0596732
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0215350
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0ASSISTANCE FOR COVID PANDEMIC RELIEF
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0FRANKLIN & SOUTHAMPTON COUNTY BUSINESSES - NO SINGLE GRANT EXCEEDING 5000
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0601 N MECHANIC STREET 300
IRS990ScheduleI/RecipientTable/USAddress/CityNm0FRANKLIN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0VA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd023851
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANTS ARE MADE TO ELIGIBLE FRANKLIN & SOUTHAMPTON COUNTY BUSINESSES AFFECTED BY THE COVID PANDEMIC TO PROVIDE FUNDS NECESSARY FOR THEM TO REMAIN OPEN FOR BUSINESSES. GRANTS ARE APPROVED BY THE ORGANIZATION'S BOARD OF DIRECTORS, WHO ALSO MONITOR USE OF FUNDS BY EVALUATING CONTINUED OPERATIONS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0VA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01326066
IRS990/TotalAssetsEOYAmt01359596
IRS990/TotalAssetsGrp/BOYAmt01326066
IRS990/TotalAssetsGrp/EOYAmt01359596
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0694785
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt085826
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0510906
IRS990/TotalFunctionalExpensesGrp/TotalAmt0596732
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt073098
IRS990/TotalLiabilitiesEOYAmt03
IRS990/TotalLiabilitiesGrp/BOYAmt073098
IRS990/TotalLiabilitiesGrp/EOYAmt03
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01252968
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01359593
IRS990/TotalOtherCompensationAmt02862
IRS990/TotalProgramServiceExpensesAmt0510906
IRS990/TotalReportableCompFromOrgAmt0101410
IRS990/TotalRevenueGrp/ExclusionAmt08572
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0703357
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01326066
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01359596
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt013128
IRS990/TravelGrp/TotalAmt013128
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt044985
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0601 N MECHANIC STREET SUITE 300
IRS990/USAddress/CityNm0FRANKLIN
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023851
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.FRANKLINSOUTHAMPTONVA.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KARL HECK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07575621958
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-12-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRANKLIN SOUTHAMPTON ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0FRAN

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,359,596
Liabilities
$3
Net assets
$1,359,593
Revenue
$703,357
Expenses
$596,732
Net income
$106,625
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
2021Detailed filing. Detailed filing data is available for this year.$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