Civic Intelligence

Broken Arrow Economic Development Corporation

990 • Fiscal year 2021 • EIN 20-5872308

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 08, 2022

210 N Main StreetBroken Arrow, OK 74012

(918) 251-1518

Siviq Scores

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

Liabilities / Assets

80th percentile

0.34x

Higher debt load relative to assets than 80% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

58th percentile

0.14x

Higher debt load relative to revenue than 58% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Net Margin

26th percentile

0.2%

Higher net margin than 26% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

90th percentile

$165,808

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 26.2% of source-year revenue.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Asset Growth

89th percentile

53%

Faster asset growth than 89% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

17th percentile

-17%

Faster revenue growth than 17% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Up

$261,269

Up $90,371 (+53%) from 2020

Net Assets

Up

$171,926

Up $1,078 (+0.6%) from 2020

Liabilities

Up

$89,343

Up $89,293 (+178586%) from 2020

Revenue

Down

$633,130

Down $132,934 (-17%) from 2020

Expenses

Down

$632,052

Down $83,360 (-12%) from 2020

Net Income

Down

$1,078

Down $49,574 (-98%) from 2020

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 2010: $188,960Liabilities 2010: $834Net Assets 2010: $188,1262010Assets 2011: $193,407Liabilities 2011: $5,390Net Assets 2011: $188,0172011Assets 2012: $207,493Liabilities 2012: $18,130Net Assets 2012: $189,3632012Assets 2013: $125,573Liabilities 2013: $7,724Net Assets 2013: $117,8492013Assets 2014: $112,017Liabilities 2014: $8,506Net Assets 2014: $103,5112014Assets 2015: $150,737Liabilities 2015: $2,143Net Assets 2015: $148,5942015Assets 2016: $168,034Liabilities 2016: $3,721Net Assets 2016: $164,3132016Assets 2017: $122,775Liabilities 2017: $0Net Assets 2017: $122,7752017Assets 2018: $132,721Liabilities 2018: $2,597Net Assets 2018: $130,1242018Assets 2019: $120,196Liabilities 2019: $0Net Assets 2019: $120,1962019Assets 2020: $170,898Liabilities 2020: $50Net Assets 2020: $170,8482020Assets 2021: $261,269Liabilities 2021: $89,343Net Assets 2021: $171,9262021Assets 2022: $1,786,898Liabilities 2022: $301,998Net Assets 2022: $1,484,9002022Assets 2023: $1,816,043Liabilities 2023: $258,366Net Assets 2023: $1,557,6772023Assets 2024: $1,520,210Liabilities 2024: $186,354Net Assets 2024: $1,333,8562024

Highlighted filing

2021

Assets$261,269
Liabilities$89,343
Net Assets$171,926

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $305,1352010Expenses 2011: $369,8582011Expenses 2012: $598,4042012Revenue 2013: $581,900Expenses 2013: $653,414Net Income 2013: -$71,5142013Revenue 2014: $568,417Expenses 2014: $582,755Net Income 2014: -$14,3382014Revenue 2015: $606,142Expenses 2015: $561,059Net Income 2015: $45,0832015Revenue 2016: $628,234Expenses 2016: $612,517Net Income 2016: $15,7172016Revenue 2017: $621,524Expenses 2017: $663,062Net Income 2017: -$41,5382017Revenue 2018: $560,086Expenses 2018: $527,585Net Income 2018: $32,5012018Revenue 2019: $293,261Expenses 2019: $303,189Net Income 2019: -$9,9282019Revenue 2020: $766,064Expenses 2020: $715,412Net Income 2020: $50,6522020Revenue 2021: $633,130Expenses 2021: $632,052Net Income 2021: $1,0782021Revenue 2022: $2,135,482Expenses 2022: $822,508Net Income 2022: $1,312,9742022Revenue 2023: $1,051,430Expenses 2023: $978,653Net Income 2023: $72,7772023Revenue 2024: $645,326Expenses 2024: $869,147Net Income 2024: -$223,8212024

Highlighted filing

2021

Revenue$633,130
Expenses$632,052
Net Income$1,078
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 8, 2022
Return Version
2021v4.2
Gross Receipts
$633,130
Mission and Program Overview

Mission

To create and/or operate citywide and multi-county economic development programs and activities that result in the creation and retention of jobs and capital within the city of broken arrow and surrounding area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$170,898$161,269▼ $9,629
Investments Other Securities-$100,000-
Total Assets$170,898$261,269▲ $90,371
Liabilities
Deferred Revenue-$40,000-
Mortgage Notes Payable Secured by Investment Property-$30,000-
Accounts Payable and Accrued Expenses$50$15,302▲ $15,252
Other Liabilities$0$4,041▲ $4,041
Total Liabilities$50$89,343▲ $89,293
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$170,848$171,926▲ $1,078
Total Net Assets Fund Balance$170,848$171,926▲ $1,078
Total Liabilities and Net Assets / Fund Balance$170,898$261,269▲ $90,371

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$100,000--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Gregory GrahamChairman
Jennifer ConwayPresident/CEO
Rob WhitlockVice Chair
Aaron MorrisChamber Representative
Debra WimpeeMember
Dr Steve TigerMember
Jennifer York JezekMember
Marlon GoodwinMember
Steve AllenMember
Davis RobsonSecretary
Chris JungersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$633,130
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$1,078

Audited Revenue Reconciliation

Revenue per Audited Statements
$633,130
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$633,130
Total Revenue per Form 990
$633,130
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$632,052
Total Fundraising Expense$59,661
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$43,901-$43,901
Office Expenses$24,143$8,510-$32,653
Advertising$24,805--$24,805
Travel$12,146-$3,386$15,532
Other Expenses$8,429$380$56,275$8,809
Total Functional Expenses$439,312$133,079$59,661$632,052

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$632,052
Total Expenses per Audited Statements$632,052
Total Expenses per Form 990$632,052
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Chamber of Commerce$4,041
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, line 6

Line 6 explanation - Any Person, Association, Corporation, Partnership or Estate that: I) Is a resident to Broken Arrow or has a business investment in Broken Arrow; and, II) Has an interest in the objectives of the corporation, shall be eligible for membership.

Form 990, Part VI, Section A, line 7B

Line 7b explanation - The Broken Arrow City Council, School Board, and The Chamber of Commerce governing boards nominate and approve candidates for directorship and also have the power to modify the governance of the Economic Development Corporation Board, per article 2-8 of the bylaws.

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

Line 11b Explanation - Line 11A Explanation - The 990 is reviewed by the board members.

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

On an annual basis, all board members shall be provided with a copy of the conflict of interest policy and required to complete and sign the acknowledgment and disclosure form. All completed forms shall be provided to and reviewed by the executive committee, as well as all other conflict information provided by board members. Monthly, board members review the agenda and make any declarations regarding potential conflicts of interests.

Form 990, Part VI, Section C, line 19

These are available at monthly Economic Development Corporation board meetings.

Filing and Contact Details

Filer

Filer Name
Broken Arrow Economic Development
EIN
20-5872308
Phone
9182511518
Address
210 N Main Street, Broken Arrow, OK 74012

Signing Officer

Name
Jennifer Conway
Title
President & CEO
Phone
9182511518
Signed
2022-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Conway
Formed
2006
Legal Domicile
Ok
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
91

Preparer

Firm
Hinkle & Company PC
Address
5028 East 101st Street, Tulsa, OK 74137
Preparer
James D Hinkle
Phone
9184923388
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Jennifer Conway
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0165808
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Line 6 explanation - Any Person, Association, Corporation, Partnership or Estate that: I) Is a resident to Broken Arrow or has a business investment in Broken Arrow; and, II) Has an interest in the objectives of the corporation, shall be eligible for membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Line 7b explanation - The Broken Arrow City Council, School Board, and The Chamber of Commerce governing boards nominate and approve candidates for directorship and also have the power to modify the governance of the Economic Development Corporation Board, per article 2-8 of the bylaws.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Line 11b Explanation - Line 11A Explanation - The 990 is reviewed by the board members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3On an annual basis, all board members shall be provided with a copy of the conflict of interest policy and required to complete and sign the acknowledgment and disclosure form. All completed forms shall be provided to and reviewed by the executive committee, as well as all other conflict information provided by board members. Monthly, board members review the agenda and make any declarations regarding potential conflicts of interests.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4These are available at monthly Economic Development Corporation board meetings.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Broken Arrow Chamber of Commerce
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0730534499
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Economic & Business Development
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0123 N Main
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Broken Arrow
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0OK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd074012
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt024000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1434397
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Cost
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1Cost
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Broken Arrow Chamber of Commerce
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1Broken Arrow Chamber of Commerce
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1O
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0OK
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0170898
IRS990/TotalAssetsEOYAmt0261269
IRS990/TotalAssetsGrp/BOYAmt0170898
IRS990/TotalAssetsGrp/EOYAmt0261269
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt059661
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0133079
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0439312
IRS990/TotalFunctionalExpensesGrp/TotalAmt0632052
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt050
IRS990/TotalLiabilitiesEOYAmt089343
IRS990/TotalLiabilitiesGrp/BOYAmt050
IRS990/TotalLiabilitiesGrp/EOYAmt089343
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0170848
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0171926
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0439312
IRS990/TotalProgramServiceRevenueAmt0633130
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0633130
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0633130
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt091
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0170898
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0261269
IRS990/TotReportableCompRltdOrgAmt0165808
IRS990/TravelGrp/FundraisingAmt03386
IRS990/TravelGrp/ProgramServicesAmt012146
IRS990/TravelGrp/TotalAmt015532
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0210 N Main Street
IRS990/USAddress/CityNm0Broken Arrow
IRS990/USAddress/StateAbbreviationCd0OK
IRS990/USAddress/ZIPCd074012
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0www.brokenarrowchamber.com
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Jennifer Conway
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President & CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum09182511518
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Broken Arrow Economic Development
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Corporation
ReturnHeader/Filer/BusinessNameControlTxt0BROK
ReturnHeader/Filer/EIN0205872308
ReturnHeader/Filer/PhoneNum09182511518
ReturnHeader/Filer/USAddress/AddressLine1Txt0210 N Main Street
ReturnHeader/Filer/USAddress/CityNm0Broken Arrow
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OK

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.52$0.19$1.33$0.65$0.87$0.22
2023Detailed filing. Detailed filing data is available for this year.$1.82$0.26$1.56$1.05$0.98$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.79$0.30$1.48$2.14$0.82$1.31
2021Detailed filing. Detailed filing data is available for this year.$0.26$0.09$0.17$0.63$0.63$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.77$0.72$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.12$0.00$0.12$0.29$0.30$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.13$0.00$0.13$0.56$0.53$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.12$0.00$0.12$0.62$0.66$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.16$0.63$0.61$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.15$0.61$0.56$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.11$0.01$0.10$0.57$0.58$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.13$0.01$0.12$0.58$0.65$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.21$0.02$0.19$0.60
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.19$0.01$0.19$0.37
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.19$0.00$0.19$0.31