Civic Intelligence

West Central Arkansas Economic

990 • Fiscal year 2020 • EIN 27-0452919

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 08, 2021

Organization Profile
PO Box 6409Hot Springs, AR 71902

(501) 525-7577

Siviq Scores

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

Liabilities / Assets

84th percentile

0.52x

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

97th percentile

4.68x

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

60th percentile

12%

Higher net margin than 60% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

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

Source year 2020

Revenue Growth

Score unavailable

No value available

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

Source year 2020

Balance Sheet
Liabilities / Assets84th percentile

Assets

$603,739

No earlier filing loaded for comparison.

Net Assets

$290,416

No earlier filing loaded for comparison.

Liabilities

$313,323

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin60th percentile

Revenue

$67,016

No earlier filing loaded for comparison.

Expenses

$58,776

No earlier filing loaded for comparison.

Net Income

$8,240

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$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

2020

Assets$603,739
Liabilities$313,323
Net Assets$290,416
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this 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

2020

Revenue$67,016
Expenses$58,776
Net Income$8,240
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 8, 2021
Return Version
2020v4.0
Gross Receipts
$67,016
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$518,213$495,838▼ $22,375
Savings and Temporary Cash Investments$61,581$62,573▲ $992
Cash and Non-Interest-Bearing Accounts$40,681$45,304▲ $4,623
Total Assets$620,499$603,739▼ $16,760
Other Assets Total$24$24→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$338,323$313,323▼ $25,000
Total Liabilities$338,323$313,323▼ $25,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$282,176$290,416▲ $8,240
Total Net Assets Fund Balance$282,176$290,416▲ $8,240
Total Liabilities and Net Assets / Fund Balance$620,499$603,739▼ $16,760

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$398,985$151,015$550,000
Other Land Buildings$60,403$29,830$90,233
Leasehold Improvements$36,450$14,789$51,239
Compensation and Service Providers
Top Officer Pay51st percentile

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
$66,000
Investment Income
$1,016
Other Revenue
$0
Change in Net Assets
$8,240
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$58,776
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$22,375--$22,375
Fees for Services Other-$18,954-$18,954
Interest$15,902--$15,902
Insurance-$906-$906
Other Expenses-$536-$536
Fees for Services Accounting-$97-$97
Office Expenses-$6-$6
Total Functional Expenses$38,277$20,499$0$58,776
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
2021-06-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gary Beckwith
Formed
2009
Legal Domicile
Ar
Voting Board Members
3
Independent Board Members
2
Employees
0

Preparer

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

Additional Explanations

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

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

Form 990, Part IX, Line 11G

“Contract services 0 1,245 0 repairs and maintenance 0 17,709 0 total 0 18,954 0”

Raw XML Appendix320 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO OWN, MANAGE, PURCHASE, SELL, RENT AND LEASE REAL AND PERSONAL PROPERTY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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/ExplanationTxt2MEMBERS MEET AND ELECT BOARD OF DIRECTORS EVERY FIVE YEARS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BUSINESS AND AFFAIRS OF THE ORGANIZATION SHALL BE MANAGED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A 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/ExplanationTxt5AT 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/ExplanationTxt6DOCUMENTS MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CONTRACT SERVICES 0 1,245 0 REPAIRS AND MAINTENANCE 0 17,709 0 TOTAL 0 18,954 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0620499
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0603739
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GARY BECKWITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum05015257577
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-06-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WEST CENTRAL ARKANSAS ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOP SERV INC
ReturnHeader/Filer/BusinessNameControlTxt0WEST
ReturnHeader/Filer/EIN0270452919
ReturnHeader/Filer/PhoneNum05015257577
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 6409
ReturnHeader/Filer/USAddress/CityNm0HOT SPRINGS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd071902
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/PreparationDt02021-06-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0C MICHELE PEARCE CPA
ReturnHeader/ReturnTs02021-06-08T14:18:30-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0GARY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BECKWITH
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$603,739
Liabilities
$313,323
Net assets
$290,416
Revenue
$67,016
Expenses
$58,776
Net income
$8,240
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