Civic Intelligence

Morgan County Improvement Corporation

990 • Fiscal year 2022 • EIN 26-0090510

Jan 01, 2022 to Dec 31, 2022 • Filed on Aug 03, 2023

155 E Main Street Room 135 Ste BMcconnelsville, OH 43756

(740) 962-6772

Siviq Scores

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

Liabilities / Assets

74th percentile

0.25x

Higher debt load relative to assets than 74% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

94th percentile

2.99x

Higher debt load relative to revenue than 94% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Net Margin

90th percentile

57%

Higher net margin than 90% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

64th percentile

$2,400

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Asset Growth

30th percentile

-4.4%

Faster asset growth than 30% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

13th percentile

-31%

Faster revenue growth than 13% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$4,238,671

Down $194,393 (-4.4%) from 2021

Net Assets

Up

$3,162,035

Up $205,171 (+6.9%) from 2021

Liabilities

Down

$1,076,636

Down $399,564 (-27%) from 2021

Revenue

Down

$360,014

Down $160,268 (-31%) from 2021

Expenses

Down

$154,843

Down $60,748 (-28%) from 2021

Net Income

Down

$205,171

Down $99,520 (-33%) from 2021

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2014: $6,124,780Liabilities 2014: $3,951,800Net Assets 2014: $2,172,9802014Assets 2015: $5,897,237Liabilities 2015: $3,624,952Net Assets 2015: $2,272,2852015Assets 2016: $5,686,767Liabilities 2016: $3,293,107Net Assets 2016: $2,393,6602016Assets 2017: $5,789,819Liabilities 2017: $3,407,421Net Assets 2017: $2,382,3982017Assets 2018: $5,113,631Liabilities 2018: $2,605,081Net Assets 2018: $2,508,5502018Assets 2019: $4,980,545Liabilities 2019: $2,242,085Net Assets 2019: $2,738,4602019Assets 2020: $4,702,300Liabilities 2020: $2,050,127Net Assets 2020: $2,652,1732020Assets 2021: $4,433,064Liabilities 2021: $1,476,200Net Assets 2021: $2,956,8642021Assets 2022: $4,238,671Liabilities 2022: $1,076,636Net Assets 2022: $3,162,0352022Assets 2023: $4,052,619Liabilities 2023: $667,353Net Assets 2023: $3,385,2662023Assets 2024: $3,826,016Liabilities 2024: $245,621Net Assets 2024: $3,580,3952024

Highlighted filing

2022

Assets$4,238,671
Liabilities$1,076,636
Net Assets$3,162,035

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2014: $378,164Expenses 2014: $192,403Net Income 2014: $185,7612014Revenue 2015: $367,927Expenses 2015: $268,622Net Income 2015: $99,3052015Revenue 2016: $379,375Expenses 2016: $258,000Net Income 2016: $121,3752016Revenue 2017: $719,180Expenses 2017: $730,442Net Income 2017: -$11,2622017Revenue 2018: $361,840Expenses 2018: $235,688Net Income 2018: $126,1522018Revenue 2019: $465,164Expenses 2019: $235,254Net Income 2019: $229,9102019Revenue 2020: $210,727Expenses 2020: $297,014Net Income 2020: -$86,2872020Revenue 2021: $520,282Expenses 2021: $215,591Net Income 2021: $304,6912021Revenue 2022: $360,014Expenses 2022: $154,843Net Income 2022: $205,1712022Revenue 2023: $634,170Expenses 2023: $410,939Net Income 2023: $223,2312023Revenue 2024: $361,566Expenses 2024: $166,437Net Income 2024: $195,1292024

Highlighted filing

2022

Revenue$360,014
Expenses$154,843
Net Income$205,171
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 3, 2023
Return Version
2022v5.0
Gross Receipts
$360,014
Mission and Program Overview

Mission

The sole purpose for which the corporation is formed is to advance, encourage, and promote industrial, economic, commercial, and civic development of the county of morgan, and the municipal corporations located therein by acting as the designated agency of the county of morgan, one or more municipal corporations located therein, or the county of morgan and one or more municipal corporations located therein, for the industrial, commercial, distribution, and research development in such political subdivision in accordance with section 1724.10, revised code. To provide real property for an industrial building being financed in part by loans and grants from the state of ohio. The corporation shall have the right to raise money and expend funds for community projects in morgan county, ohio. Our activity furthers our exempt purpose as we are able to obtain loans with lower than standard interest rates and grants from the state of ohio to finance the real property, which in turn allows the co

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$2,546,187$2,443,727▼ $102,460
Land, Buildings, and Equipment, Net$1,873,427$1,794,666▼ $78,761
Savings and Temporary Cash Investments$13,450$278▼ $13,172
Total Assets$4,433,064$4,238,671▼ $194,393
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,476,200$1,076,636▼ $399,564
Total Liabilities$1,476,200$1,076,636▼ $399,564
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,956,864$3,162,035▲ $205,171
Total Net Assets Fund Balance$2,956,864$3,162,035▲ $205,171
Total Liabilities and Net Assets / Fund Balance$4,433,064$4,238,671▼ $194,393

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,672,756$1,352,244$3,025,000
Land$110,740-$110,740
Other Land Buildings$11,170$7,630$18,800
Compensation and Service Providers

Employees

NameTitleBaseTotal
Kelsey WellsBoard Member$2,400$2,400

Board Members and Trustees

NameTitle
Adam ShriverBoard Member
Bernie AndersonBoard Member
Cecil MayleBoard Member
Chasity MayleBoard Member
Dean PonchakBoard Member
Mark HowdyshellBoard Member
Richard WelshBoard Member
Sarah HarlowBoard Member
Steve WilliamsBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$360,000
Investment Income
$14
Other Revenue
$0
Change in Net Assets
$205,171
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$152,443
Salaries, Compensation, and Employee Benefits$2,400
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$78,761--$78,761
Interest$36,492--$36,492
Occupancy$17,061--$17,061
Fees for Services Accounting$4,096--$4,096
Current Officers, Directors, Trustees, and Key Employees-$2,400-$2,400
Other Expenses$250--$250
All Other Expenses$230--$230
Total Functional Expenses$152,443$2,400$0$154,843
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Board MembersPYMT REC'D ON DEBTNo$102,460
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
No
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
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, Page 6, Part VI, Line 11B

Reviewed and discussed during a normal board meeting.

Form 990, Page 6, Part VI, Line 15A

Board proposed and approved compensation for kelsey wells.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Morgan County Improvement
EIN
26-0090510
Phone
7409626772
Address
155 E MAIN STREET ROOM 135 STE B, MCCONNELSVILLE, OH 43756

Signing Officer

Name
Kelsey Wells
Title
Board Member/treas
Phone
7406246607
Signed
2023-08-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kelsey Wells
Formed
1967
Legal Domicile
Oh
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Firm
Hamilton Waltman Obenour & Melsheimer
Address
PO BOX 8200, ZANESVILLE, OH 43702-8200
Preparer
Bryan T Melsheimer CPA
Phone
7404548852
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The sole purpose for which the corporation is formed is to advance, encourage, and promote industrial, economic, commercial, and civic development of the county of morgan, and the municipal corporations located therein by acting as the designated agency of the county of morgan, one or more municipal corporations located therein, or the county of morgan and one or more municipal corporations located therein, for the industrial, commercial, distribution, and research development in such political subdivision in accordance with section 1724.10, revised code. To provide real property for an industrial building being financed in part by loans and grants from the state of ohio. The corporation shall have the right to raise money and expend funds for community projects in morgan county, ohio. Our activity furthers our exempt purpose as we are able to obtain loans with lower than standard interest rates and grants from the state of ohio to finance the real property, which in turn allows the company leasing the industrial building to pay lower lease payments and gives them an incentive to come to morgan county, ohio to help reduce unemployment and create jobs in our local economy.

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IRS990/MissionDesc0THE SOLE PURPOSE FOR WHICH THE CORPORATION IS FORMED IS TO ADVANCE, ENCOURAGE, AND PROMOTE INDUSTRIAL, ECONOMIC, COMMERCIAL, AND CIVIC DEVELOPMENT OF THE COUNTY OF MORGAN, AND THE MUNICIPAL CORPORATIONS LOCATED THEREIN BY ACTING AS THE DESIGNATED AGENCY OF THE COUNTY OF MORGAN, ONE OR MORE MUNICIPAL CORPORATIONS LOCATED THEREIN, OR THE COUNTY OF MORGAN AND ONE OR MORE MUNICIPAL CORPORATIONS LOCATED THEREIN, FOR THE INDUSTRIAL, COMMERCIAL, DISTRIBUTION, AND RESEARCH DEVELOPMENT IN SUCH POLITICAL SUBDIVISION IN ACCORDANCE WITH SECTION 1724.10, REVISED CODE. TO PROVIDE REAL PROPERTY FOR AN INDUSTRIAL BUILDING BEING FINANCED IN PART BY LOANS AND GRANTS FROM THE STATE OF OHIO. THE CORPORATION SHALL HAVE THE RIGHT TO RAISE MONEY AND EXPEND FUNDS FOR COMMUNITY PROJECTS IN MORGAN COUNTY, OHIO. OUR ACTIVITY FURTHERS OUR EXEMPT PURPOSE AS WE ARE ABLE TO OBTAIN LOANS WITH LOWER THAN STANDARD INTEREST RATES AND GRANTS FROM THE STATE OF OHIO TO FINANCE THE REAL PROPERTY, WHICH IN TURN ALLOWS THE CO
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IRS990/ReportOtherLiabilitiesInd0false
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IRS990/RevenueAmt0360000
IRS990/SavingsAndTempCashInvstGrp/BOYAmt013450
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0278
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IRS990ScheduleD/BuildingsGrp/BookValueAmt01672756
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01352244
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03025000
IRS990ScheduleD/LandGrp/BookValueAmt0110740
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0110740
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt011170
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt07630
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt018800
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01794666
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBERS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0102460
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PYMT REC'D ON DEBT
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SOLE PURPOSE FOR WHICH THE CORPORATION IS FORMED IS TO ADVANCE, ENCOURAGE, AND PROMOTE INDUSTRIAL, ECONOMIC, COMMERCIAL, AND CIVIC DEVELOPMENT OF THE COUNTY OF MORGAN, AND THE MUNICIPAL CORPORATIONS LOCATED THEREIN BY ACTING AS THE DESIGNATED AGENCY OF THE COUNTY OF MORGAN, ONE OR MORE MUNICIPAL CORPORATIONS LOCATED THEREIN, OR THE COUNTY OF MORGAN AND ONE OR MORE MUNICIPAL CORPORATIONS LOCATED THEREIN, FOR THE INDUSTRIAL, COMMERCIAL, DISTRIBUTION, AND RESEARCH DEVELOPMENT IN SUCH POLITICAL SUBDIVISION IN ACCORDANCE WITH SECTION 1724.10, REVISED CODE. TO PROVIDE REAL PROPERTY FOR AN INDUSTRIAL BUILDING BEING FINANCED IN PART BY LOANS AND GRANTS FROM THE STATE OF OHIO. THE CORPORATION SHALL HAVE THE RIGHT TO RAISE MONEY AND EXPEND FUNDS FOR COMMUNITY PROJECTS IN MORGAN COUNTY, OHIO. OUR ACTIVITY FURTHERS OUR EXEMPT PURPOSE AS WE ARE ABLE TO OBTAIN LOANS WITH LOWER THAN STANDARD INTEREST RATES AND GRANTS FROM THE STATE OF OHIO TO FINANCE THE REAL PROPERTY, WHICH IN TURN ALLOWS THE COMPANY LEASING THE INDUSTRIAL BUILDING TO PAY LOWER LEASE PAYMENTS AND GIVES THEM AN INCENTIVE TO COME TO MORGAN COUNTY, OHIO TO HELP REDUCE UNEMPLOYMENT AND CREATE JOBS IN OUR LOCAL ECONOMY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEWED AND DISCUSSED DURING A NORMAL BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD PROPOSED AND APPROVED COMPENSATION FOR KELSEY WELLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C4
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LEASING
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0MCCONNELSVILLE
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0154843
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt01076636
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IRS990/TotalLiabilitiesGrp/EOYAmt01076636
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0360014
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04238671
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0155 E MAIN ST ROOM 135 SUITE B
IRS990/USAddress/CityNm0MCCONNELSVILLE
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KELSEY WELLS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD MEMBER/TREAS
ReturnHeader/BusinessOfficerGrp/PhoneNum07406246607
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MORGAN COUNTY IMPROVEMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0MORG
ReturnHeader/Filer/EIN0260090510
ReturnHeader/Filer/PhoneNum07409626772
ReturnHeader/Filer/USAddress/AddressLine1Txt0155 E MAIN STREET ROOM 135 STE B
ReturnHeader/Filer/USAddress/CityNm0MCCONNELSVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0203388433
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HAMILTON WALTMAN OBENOUR & MELSHEIMER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 8200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ZANESVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0437028200
ReturnHeader/PreparerPersonGrp/PhoneNum07404548852
ReturnHeader/PreparerPersonGrp/PreparationDt02023-08-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRYAN T MELSHEIMER CPA
ReturnHeader/ReturnTs02023-08-16T10:26:35-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KELSEY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WELLS
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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