Civic Intelligence

Covington Business Association

990 • Fiscal year 2021 • EIN 27-3203744

Jan 01, 2021 to Dec 31, 2021 • Filed on Aug 29, 2022

427 N Theard Ste 230Covington, LA 70433

(504) 439-2543

Siviq Scores

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

Liabilities / Assets

95th percentile

0.79x

Higher debt load relative to assets than 95% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

97th percentile

1.24x

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

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Net Margin

74th percentile

24%

Higher net margin than 74% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Top Officer Pay

72nd percentile

$0

Higher top officer pay than 72% of similar nonprofits.

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

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Asset Growth

100th percentile

1017%

Faster asset growth than 100% of similar nonprofits.

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

Revenue Growth

98th percentile

437%

Faster revenue growth than 98% of similar nonprofits.

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

Assets

Up

$236,926

Up $215,706 (+1017%) from 2020

Net Assets

Up

$49,226

Up $35,815 (+267%) from 2020

Liabilities

Up

$187,700

Up $179,891 (+2304%) from 2020

Revenue

Up

$150,839

Up $122,732 (+437%) from 2020

Expenses

Up

$115,024

Up $68,929 (+150%) from 2020

Net Income

Up

$35,815

Up $53,803 (+299%) from 2020

Historical Trend

Balance Sheet Trend

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

$300K$200K$100K$0-$100KAssets 2012: $9,956Liabilities 2012: $0Net Assets 2012: $9,9562012Assets 2013: $13,453Liabilities 2013: $0Net Assets 2013: $13,4532013Assets 2014: $23,083Liabilities 2014: $0Net Assets 2014: $23,0832014Assets 2016: $23,462Liabilities 2016: -$500Net Assets 2016: $23,9622016Assets 2017: $9,560Liabilities 2017: $0Net Assets 2017: $9,5602017Assets 2018: $27,100Liabilities 2018: $2,991Net Assets 2018: $24,1092018Assets 2019: $31,399Liabilities 2019: $0Net Assets 2019: $31,3992019Assets 2020: $21,220Liabilities 2020: $7,809Net Assets 2020: $13,4112020Assets 2021: $236,926Liabilities 2021: $187,700Net Assets 2021: $49,2262021Assets 2022: $35,726Liabilities 2022: $0Net Assets 2022: $35,7262022Assets 2023: $36,346Liabilities 2023: $8,090Net Assets 2023: $28,2562023Assets 2024: $44,727Liabilities 2024: $0Net Assets 2024: $44,7272024

Highlighted filing

2021

Assets$236,926
Liabilities$187,700
Net Assets$49,226

Operations Trend

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

$200K$150K$100K$50K$0-$50KExpenses 2012: $28,5382012Revenue 2013: $49,323Expenses 2013: $45,826Net Income 2013: $3,4972013Revenue 2014: $65,883Expenses 2014: $56,253Net Income 2014: $9,6302014Revenue 2016: $56,195Expenses 2016: $60,460Net Income 2016: -$4,2652016Revenue 2017: $65,174Expenses 2017: $79,576Net Income 2017: -$14,4022017Revenue 2018: $77,803Expenses 2018: $64,229Net Income 2018: $13,5742018Revenue 2019: $102,195Expenses 2019: $94,905Net Income 2019: $7,2902019Revenue 2020: $28,107Expenses 2020: $46,095Net Income 2020: -$17,9882020Revenue 2021: $150,839Expenses 2021: $115,024Net Income 2021: $35,8152021Revenue 2022: $105,271Expenses 2022: $118,771Net Income 2022: -$13,5002022Revenue 2023: $99,804Expenses 2023: $107,274Net Income 2023: -$7,4702023Revenue 2024: $131,571Expenses 2024: $115,100Net Income 2024: $16,4712024

Highlighted filing

2021

Revenue$150,839
Expenses$115,024
Net Income$35,815
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Aug 29, 2022
Return Version
2021v4.0
Gross Receipts
$150,839
Mission and Program Overview

Mission

The organization's mission is to work closely with the agencies and departments of the city of covington in order to be instrumental in shaping the current as well as the emerging business environment. Attracting new business while maintaining the aesthetic quality and livability of both the commercial and historic districts is the organizations focus. The organization strives to be a leader and a catalyst to encourage growth and cooperation between the city of covington and all of the member businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$20,221$235,927▲ $215,706
Total Assets$21,220$236,926▲ $215,706
Other Assets Total$999$999→ $0
Liabilities
Unsecured Notes Loans Payable-$187,700-
Other Liabilities$7,809--
Total Liabilities$7,809$187,700▲ $179,891
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,411$49,226▲ $35,815
Total Net Assets Fund Balance$13,411$49,226▲ $35,815
Total Liabilities and Net Assets / Fund Balance$21,220$236,926▲ $215,706
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dan CobbPresident
Brad SchroederAdvisor
Cliff BergeronAdvisor
Michael HunleyAdvisor
Nancy RossAdvisor
Marcella MerrillAt Large
Rick ClasenAt Large
Elizabeth StokesMarketing Di
Sarah CottrellMembership
Betty BrockParliamentar
Jeff BordelonSargeant-at-
Connie ErnstSecretary
Cindy PetryTreasurer
Gina RowbathamVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$41,322
Program Service Revenue
$109,155
Investment Income
$362
Other Revenue
$0
All Other Contributions
$7,844
Change in Net Assets
$35,815
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$108,836
Grants and Similar Amounts Paid$6,188
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$19,527--$19,527
Advertising$10,938--$10,938
All Other Expenses$8,022--$8,022
Grants to Domestic Orgs$6,188--$6,188
Conferences and Meetings$4,387--$4,387
Other Expenses$4,245--$4,245
Information Technology$4,140--$4,140
Insurance$2,405--$2,405
Office Expenses$2,246--$2,246
Occupancy$1,148--$1,148
Total Functional Expenses$115,024$0$0$115,024
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Other Charities---$6,188
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
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

The form 990 will be provided to the governing body for review or revisions before it will be filed.

Form 990, Page 6, Part VI, Line 19

The governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Covington Business Association
EIN
27-3203744
Phone
5044392543
Address
427 N THEARD STE 230, COVINGTON, LA 70433

Signing Officer

Name
Dan Cobb
Title
President
Phone
9858711110
Signed
2022-08-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dan Cobb
Formed
2010
Legal Domicile
La
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Firm
Vollenweider CPA Services LLC
Address
611 RIVER HIGHLANDS BLVD STE A, COVINGTON, LA 70433
Preparer
Howard P Vollenweider Jr
Phone
9854005840
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The organization's mission is to work closely with the agencies and departments of the city of covington in order to be instrumental in shaping the current as well as the emerging business environment. Attracting new business while maintaining the aesthetic quality and livability of both the commercial and historic districts is the organizations focus. The organization strives to be a leader and a catalyst to encourage growth and cooperation between the city of covington and all of the member businesses.

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

The exempt purpose is to promote the community and business of the covington area. This is accomplished by holding open meetings as a forum to discuss ways the group can improve the business community in general. It is also accomplished by having an interactive website with special benefits to members and a wealth of information and resources available to the general public.

Form 990, Part IX, Line 11G

Event expenses 4,185 0 0 police security 760 0 0 a taste of covington entertainment 1,180 0 0 event planner fees 5,000 0 0 fiesta del vino food exp 2,534 0 0 grand tasting expense 3,979 0 0 supplies 87 0 0 tent rental 420 0 0 wine for events 882 0 0 jazz brunch 500 0 0 total 19,527 0 0

Form 990, Part XI, Line 9

Prior period adjustment 0

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
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IRS990/PYGrantsAndSimilarPaidAmt04822
IRS990/PYInvestmentIncomeAmt077
IRS990/PYOtherExpensesAmt041273
IRS990/PYProgramServiceRevenueAmt014505
IRS990/PYRevenuesLessExpensesAmt0-17988
IRS990/PYTotalExpensesAmt046095
IRS990/PYTotalRevenueAmt028107
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IRS990/ReconcilationRevenueExpnssAmt035815
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0109155
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleI/RecipientTable/CashGrantAmt06188
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0OTHER CHARITIES
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S MISSION IS TO WORK CLOSELY WITH THE AGENCIES AND DEPARTMENTS OF THE CITY OF COVINGTON IN ORDER TO BE INSTRUMENTAL IN SHAPING THE CURRENT AS WELL AS THE EMERGING BUSINESS ENVIRONMENT. ATTRACTING NEW BUSINESS WHILE MAINTAINING THE AESTHETIC QUALITY AND LIVABILITY OF BOTH THE COMMERCIAL AND HISTORIC DISTRICTS IS THE ORGANIZATIONS FOCUS. THE ORGANIZATION STRIVES TO BE A LEADER AND A CATALYST TO ENCOURAGE GROWTH AND COOPERATION BETWEEN THE CITY OF COVINGTON AND ALL OF THE MEMBER BUSINESSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXEMPT PURPOSE IS TO PROMOTE THE COMMUNITY AND BUSINESS OF THE COVINGTON AREA. THIS IS ACCOMPLISHED BY HOLDING OPEN MEETINGS AS A FORUM TO DISCUSS WAYS THE GROUP CAN IMPROVE THE BUSINESS COMMUNITY IN GENERAL. IT IS ALSO ACCOMPLISHED BY HAVING AN INTERACTIVE WEBSITE WITH SPECIAL BENEFITS TO MEMBERS AND A WEALTH OF INFORMATION AND RESOURCES AVAILABLE TO THE GENERAL PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 WILL BE PROVIDED TO THE GOVERNING BODY FOR REVIEW OR REVISIONS BEFORE IT WILL BE FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EVENT EXPENSES 4,185 0 0 POLICE SECURITY 760 0 0 A TASTE OF COVINGTON ENTERTAINMENT 1,180 0 0 EVENT PLANNER FEES 5,000 0 0 FIESTA DEL VINO FOOD EXP 2,534 0 0 GRAND TASTING EXPENSE 3,979 0 0 SUPPLIES 87 0 0 TENT RENTAL 420 0 0 WINE FOR EVENTS 882 0 0 JAZZ BRUNCH 500 0 0 TOTAL 19,527 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PRIOR PERIOD ADJUSTMENT 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0115024
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07809
IRS990/TotalLiabilitiesEOYAmt0187700
IRS990/TotalLiabilitiesGrp/BOYAmt07809
IRS990/TotalLiabilitiesGrp/EOYAmt0187700
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt013411
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt049226
IRS990/TotalOtherProgSrvcExpenseAmt03680
IRS990/TotalProgramServiceExpensesAmt0115024
IRS990/TotalProgramServiceRevenueAmt0109155
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0150839
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IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0187700
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0720 E BOSTON STREET
IRS990/USAddress/CityNm0COVINGTON
IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd070433
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.COVINGTONBUSINESSASSOCIATION.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAN COBB
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09858711110
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-08-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0COVINGTON BUSINESS ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0COVI
ReturnHeader/Filer/EIN0273203744
ReturnHeader/Filer/PhoneNum05044392543
ReturnHeader/Filer/USAddress/AddressLine1Txt0427 N THEARD STE 230
ReturnHeader/Filer/USAddress/CityNm0COVINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0LA
ReturnHeader/Filer/USAddress/ZIPCd070433
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0473815383
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VOLLENWEIDER CPA SERVICES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0611 RIVER HIGHLANDS BLVD STE A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COVINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0LA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd070433
ReturnHeader/PreparerPersonGrp/PhoneNum09854005840
ReturnHeader/PreparerPersonGrp/PreparationDt02022-08-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HOWARD P VOLLENWEIDER JR
ReturnHeader/ReturnTs02022-10-17T13:13:36-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0COBB
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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