Civic Intelligence

West Central Arkansas Economic

990 • Fiscal year 2023 • EIN 27-0452919

Jan 01, 2023 to Dec 31, 2023 • Filed on Feb 22, 2024

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

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2023

Liabilities / Revenue

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

1st percentile

-541%

Higher net margin than 1% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

28th percentile

-7.0%

Faster revenue growth than 28% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

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

Net Assets

Down

$0

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

Liabilities

Down

$0

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

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin1st 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

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

2023

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

Operations Trend

Revenue Growth28th percentile

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

2023

Revenue$62,023
Expenses$397,537
Net Income-$335,514
Open 2023 Filing
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 Pay54th 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
$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/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT
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IRS990/GrantsToOrganizationsInd0true
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IRS990/IRPDocumentCnt03
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IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
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IRS990/MethodOfAccountingCashInd0X
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IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0254990
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IRS990/PartialLiquidationInd0false
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IRS990/ProhibitedTaxShelterTransInd0false
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt259114
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0MKT VALUE
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt2CASH VALUE
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm2HOT SPRINGS
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd2AR
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd171902
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd271902
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IRS990ScheduleN/ReceiveCompensationInd0false
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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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0true
IRS990/TotalAssetsBOYAmt0590504
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt010522
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0387015
IRS990/TotalFunctionalExpensesGrp/TotalAmt0397537
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0254990
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt0254990
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0335514
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalProgramServiceExpensesAmt0387015
IRS990/TotalProgramServiceRevenueAmt060500
IRS990/TotalRevenueGrp/ExclusionAmt01523
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt060500
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt062023
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0590504
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
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IRS990/WhistleblowerPolicyInd0false
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
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 6409
ReturnHeader/Filer/USAddress/CityNm0HOT SPRINGS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd071902
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
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

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed 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