Civic Intelligence

West Central Arkansas Economic

EIN 27-0452919 • 501(c)3 • Hot Springs, AR

Profile

To own, manage, purchase, sell, rent and lease real and personal property to be used solely to further the objectives and purposes of regional service organizations engaged in economic development efforts.

PO Box 6409Hot Springs, AR 71902
Siviq Scores

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

Liabilities / Assets

84th percentile

0.43x

Higher debt load relative to assets than 84% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

3.82x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

80th percentile

29%

Higher net margin than 80% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

37th percentile

-1.1%

Faster asset growth than 37% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2022

Revenue Growth

37th percentile

-0.2%

Faster revenue growth than 37% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2022

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$0

Down $590,504 (-100%) from 2022

Liabilities

Down

$0

Down $254,990 (-100%) from 2022

Net Assets

Down

$0

Down $335,514 (-100%) from 2022

Operations
Liabilities / Revenue97th percentileNet Margin80th percentile

Revenue

Down

$62,023

Down $4,698 (-7.0%) from 2022

Expenses

Up

$397,537

Up $350,031 (+737%) from 2022

Net Income

Down

-$335,514

Down $354,729 (-1846%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth37th percentile

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

$800K$600K$400K$200K$0Assets 2020: $603,739Liabilities 2020: $313,323Net Assets 2020: $290,4162020Assets 2021: $601,289Liabilities 2021: $284,990Net Assets 2021: $316,2992021Assets 2022: $590,504Liabilities 2022: $254,990Net Assets 2022: $335,5142022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2023

Assets$0
Liabilities$0
Net Assets$0
Open 2023 Filing

Operations Trend

Revenue Growth37th percentile

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

$400K$200K$0-$200K-$400KRevenue 2020: $67,016Expenses 2020: $58,776Net Income 2020: $8,2402020Revenue 2021: $66,279Expenses 2021: $40,396Net Income 2021: $25,8832021Revenue 2022: $66,721Expenses 2022: $47,506Net Income 2022: $19,2152022Revenue 2023: $62,023Expenses 2023: $397,537Net Income 2023: -$335,5142023

Highlighted filing

2023

Revenue$62,023
Expenses$397,537
Net Income-$335,514
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$62,023
Expenses
$397,537
Net income
-$335,514
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.62$3.98$3.36
2022Detailed filing. Detailed filing data is available for this year.$5.91$2.55$3.36$0.67$0.48$0.19
2021Detailed filing. Detailed filing data is available for this year.$6.01$2.85$3.16$0.66$0.40$0.26
2020Detailed filing. Detailed filing data is available for this year.$6.04$3.13$2.90$0.67$0.59$0.08
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Feb 22, 2024
Return Version
2023v4.0
Gross Receipts
$516,274
Mission and Program Overview

Mission

To own, manage, purchase, sell, rent and lease real and personal property to be used solely to further the objectives and purposes of regional service organizations engaged in economic development efforts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$458,176--
Cash and Non-Interest-Bearing Accounts$68,794--
Savings and Temporary Cash Investments$63,510--
Total Assets$590,504$0▼ $590,504
Other Assets Total$24--
Liabilities
Mortgage Notes Payable Secured by Investment Property$254,990--
Total Liabilities$254,990$0▼ $254,990
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$335,514--
Total Net Assets Fund Balance$335,514$0▼ $335,514
Total Liabilities and Net Assets / Fund Balance$590,504$0▼ $590,504
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Terry SherwoodPresident
Gary BeckwithSecretary/tr
John GuthrieVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$60,500
Investment Income
$1,523
Other Revenue
$0
Change in Net Assets
$-335,514
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$353,374
Other Expenses$44,163
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$353,374--$353,374
Depreciation Depletion$21,666--$21,666
Interest$11,975--$11,975
Conferences and Meetings-$5,123-$5,123
Fees for Services Other-$3,740-$3,740
Insurance-$943-$943
Fees for Services Accounting-$716-$716
Total Functional Expenses$387,015$10,522$0$397,537
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
West Central Ar Planning & DevHot Springs, AR501c3Donation$124,114
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
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, Page 6, Part VI, Line 6

“The organization has three members residing in three arkansas counties. These members shall remain members until their death, incapacity or resignation. At that time one of the previous occurs, a new member shall be elected in the county left vacant by the previous member by a majority vote.”

Form 990, Page 6, Part VI, Line 7A

“Members meet and elect board of directors every five years.”

Form 990, Page 6, Part VI, Line 7B

“The business and affairs of the organization shall be managed by the board of directors.”

Form 990, Page 6, Part VI, Line 11B

“A review of the form 990, as filed with the irs, was performed by the members and executive director prior to the filing of the return.”

Form 990, Page 6, Part VI, Line 12C

“At the annual board meeting in june the board addresses any issues that fall under the conflict of interest policy. At that time the board will review the facts and perform due diligence to determine the necessary steps to resolve the issue.”

Form 990, Page 6, Part VI, Line 19

“Documents made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
West Central Arkansas Economic
EIN
27-0452919
Phone
5015257577
Address
PO BOX 6409, HOT SPRINGS, AR 71902

Signing Officer

Name
Gary Beckwith
Title
Secretary/treasurer
Phone
5015257577
Signed
2024-02-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gary Beckwith
Formed
2009
Legal Domicile
Ar
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Beckwith & Company Ltd
Address
PO BOX 21670, HOT SPRINGS, AR 71903
Preparer
Gary F Beckwith CPA
Phone
5015252733
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 3

“The organization has ceased conducting program services as of december 31, 2023. All assets were donated to a 501c3 entity, west central planning & development district, who also agreed to assume any debt owed by the donor.”

Form 990, Page 2, Part III, Line 4D

“To own, manage, purchase, sell, rent and lease real and personal property”

Raw XML Appendix357 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/MortgNotesPyblScrdInvstPropGrp/BOYAmt0254990
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS CEASED CONDUCTING PROGRAM SERVICES AS OF DECEMBER 31, 2023. ALL ASSETS WERE DONATED TO A 501C3 ENTITY, WEST CENTRAL PLANNING & DEVELOPMENT DISTRICT, WHO ALSO AGREED TO ASSUME ANY DEBT OWED BY THE DONOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO OWN, MANAGE, PURCHASE, SELL, RENT AND LEASE REAL AND PERSONAL PROPERTY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS THREE MEMBERS RESIDING IN THREE ARKANSAS COUNTIES. THESE MEMBERS SHALL REMAIN MEMBERS UNTIL THEIR DEATH, INCAPACITY OR RESIGNATION. AT THAT TIME ONE OF THE PREVIOUS OCCURS, A NEW MEMBER SHALL BE ELECTED IN THE COUNTY LEFT VACANT BY THE PREVIOUS MEMBER BY A MAJORITY VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MEMBERS MEET AND ELECT BOARD OF DIRECTORS EVERY FIVE YEARS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BUSINESS AND AFFAIRS OF THE ORGANIZATION SHALL BE MANAGED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5A REVIEW OF THE FORM 990, AS FILED WITH THE IRS, WAS PERFORMED BY THE MEMBERS AND EXECUTIVE DIRECTOR PRIOR TO THE FILING OF THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AT THE ANNUAL BOARD MEETING IN JUNE THE BOARD ADDRESSES ANY ISSUES THAT FALL UNDER THE CONFLICT OF INTEREST POLICY. AT THAT TIME THE BOARD WILL REVIEW THE FACTS AND PERFORM DUE DILIGENCE TO DETERMINE THE NECESSARY STEPS TO RESOLVE THE ISSUE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7DOCUMENTS MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0387015
IRS990/TotalFunctionalExpensesGrp/TotalAmt0397537
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0254990
IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt060500
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt062023
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GARY BECKWITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum05015257577
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-02-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WEST CENTRAL ARKANSAS ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOP SERV INC
ReturnHeader/Filer/BusinessNameControlTxt0WEST
ReturnHeader/Filer/EIN0270452919
ReturnHeader/Filer/PhoneNum05015257577
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ReturnHeader/Filer/USAddress/CityNm0HOT SPRINGS
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0710727847
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BECKWITH & COMPANY LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 21670
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HOT SPRINGS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd071903
ReturnHeader/PreparerPersonGrp/PhoneNum05015252733
ReturnHeader/PreparerPersonGrp/PreparationDt02024-02-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GARY F BECKWITH CPA
ReturnHeader/ReturnTs02024-02-22T17:37:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0GARY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BECKWITH
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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