Civic Intelligence

Ascension Economic Development Corporati

990 • Fiscal year 2015 • EIN 30-0340663

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 14, 2016

Organization ProfileWWW.ASCENSIONEDC.COM

View Organization Page

6967 Highway 22Sorrento, LA 70778

(225) 675-1751

Siviq Scores

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

Liabilities / Assets

40th percentile

0.04x

Higher debt load relative to assets than 40% of similar nonprofits.

2015 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

39th percentile

0.03x

Higher debt load relative to revenue than 39% of similar nonprofits.

2015 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2015

Net Margin

81st percentile

15%

Higher net margin than 81% of similar nonprofits.

2015 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

88th percentile

$153,895

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 30.2% of source-year revenue.

2015 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2015

Asset Growth

83rd percentile

23%

Faster asset growth than 83% of similar nonprofits.

2015 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

59th percentile

6.0%

Faster revenue growth than 59% of similar nonprofits.

2015 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$410,865

Up $77,257 (+23%) from 2014

Net Assets

Up

$396,300

Up $75,337 (+23%) from 2014

Liabilities

Up

$14,565

Up $1,920 (+15%) from 2014

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin81st percentile

Revenue

Up

$508,874

Up $29,001 (+6.0%) from 2014

Expenses

Down

$433,537

Down $17,247 (-3.8%) from 2014

Net Income

Up

$75,337

Up $46,248 (+159%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

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

$1.5M$1.0M$500K$0Assets 2010: $229,311Liabilities 2010: $36,018Net Assets 2010: $193,2932010Assets 2011: $246,116Liabilities 2011: $25,838Net Assets 2011: $220,2782011Assets 2012: $258,440Liabilities 2012: $738Net Assets 2012: $257,7022012Assets 2013: $303,554Liabilities 2013: $11,680Net Assets 2013: $291,8742013Assets 2014: $333,608Liabilities 2014: $12,645Net Assets 2014: $320,9632014Assets 2015: $410,865Liabilities 2015: $14,565Net Assets 2015: $396,3002015Assets 2016: $480,986Liabilities 2016: $6,916Net Assets 2016: $474,0702016Assets 2017: $654,067Liabilities 2017: $9,044Net Assets 2017: $645,0232017Assets 2018: $818,156Liabilities 2018: $9,355Net Assets 2018: $808,8012018Assets 2019: $986,377Liabilities 2019: $11,397Net Assets 2019: $974,9802019Assets 2020: $1,308,923Liabilities 2020: $222,596Net Assets 2020: $1,086,3272020Assets 2021: $1,334,954Liabilities 2021: $171,691Net Assets 2021: $1,163,2632021Assets 2022: $1,340,502Liabilities 2022: $167,101Net Assets 2022: $1,173,4012022Assets 2023: $1,257,796Liabilities 2023: $27,431Net Assets 2023: $1,230,3652023Assets 2024: $1,328,870Liabilities 2024: $39,303Net Assets 2024: $1,289,5672024

Highlighted filing

2015

Assets$410,865
Liabilities$14,565
Net Assets$396,300
Open 2015 Filing

Operations Trend

Revenue Growth59th percentile

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

$800K$600K$400K$200K$0Expenses 2010: $377,5862010Expenses 2011: $340,3142011Expenses 2012: $390,6942012Revenue 2013: $439,535Expenses 2013: $405,363Net Income 2013: $34,1722013Revenue 2014: $479,873Expenses 2014: $450,784Net Income 2014: $29,0892014Revenue 2015: $508,874Expenses 2015: $433,537Net Income 2015: $75,3372015Revenue 2016: $481,446Expenses 2016: $408,298Net Income 2016: $73,1482016Revenue 2017: $519,206Expenses 2017: $348,253Net Income 2017: $170,9532017Revenue 2018: $528,928Expenses 2018: $365,150Net Income 2018: $163,7782018Revenue 2019: $524,975Expenses 2019: $358,796Net Income 2019: $166,1792019Revenue 2020: $532,449Expenses 2020: $421,102Net Income 2020: $111,3472020Revenue 2021: $530,793Expenses 2021: $453,857Net Income 2021: $76,9362021Revenue 2022: $624,778Expenses 2022: $614,640Net Income 2022: $10,1382022Revenue 2023: $536,893Expenses 2023: $479,929Net Income 2023: $56,9642023Revenue 2024: $595,321Expenses 2024: $536,119Net Income 2024: $59,2022024

Highlighted filing

2015

Revenue$508,874
Expenses$433,537
Net Income$75,337
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 14, 2016
Return Version
2015v2.1
Gross Receipts
$508,874
Mission and Program Overview

Mission

Aedc is responsible for implementing economic development programs to the benefit of the citizens of ascension parish, louisiana.

Diversification of ascension parish economy

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$303,583$407,841▲ $104,258
Savings and Temporary Cash Investments$25,784--
Land, Buildings, and Equipment, Net$4,241$3,024▼ $1,217
Total Assets$333,608$410,865▲ $77,257
Liabilities
Other Liabilities$11,191$14,100▲ $2,909
Accounts Payable and Accrued Expenses$1,454$465▼ $989
Total Liabilities$12,645$14,565▲ $1,920
Net Assets / Fund Balance
Temporarily Rstr Net Assets$276,729$277,564▲ $835
Unrestricted Net Assets$44,234$118,736▲ $74,502
Total Net Assets Fund Balance$320,963$396,300▲ $75,337
Total Liabilities and Net Assets / Fund Balance$333,608$410,865▲ $77,257

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$14,658$14,658
Other Land Buildings$1,526$6,980$8,506
Leasehold Improvements$1,498$5,266$6,764
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mike EadesPresident/CEOFT$123,594$30,301$153,895

Board Members and Trustees

NameTitle
Bill DawsonChair
Dwight PoirrierVice Chair
Butch BrowingBoard Member
Dee LejeuneBoard Member
Don HannaBoard Member
Steve GraugnardBoard Member
Chris LoarEx-officio Member
Kent SchexnayderEx-officio Member
Kirk BoudreauxEx-officio Member
Erica CrenshawSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$507,997
Program Service Revenue
$0
Investment Income
$877
Other Revenue
$0
All Other Contributions
$13,167
Change in Net Assets
$75,337

Audited Revenue Reconciliation

Revenue per Audited Statements
$508,874
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$508,874
Total Revenue per Form 990
$508,874
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$278,321
Other Expenses$155,216
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$123,594
Other Salaries and Wages---$77,536
Other Employee Benefits---$61,922
Advertising---$22,000
Payroll Taxes---$15,269
Office Expenses---$14,362
Occupancy---$13,348
Insurance---$5,968
Travel---$5,923
Fees for Services Other---$4,414
Information Technology---$4,398
Fees for Services Legal---$2,323
Conferences and Meetings---$1,500
Depreciation Depletion---$1,217
Other Expenses---$510
All Other Expenses---$360
Total Functional Expenses$0$0$0$433,537

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$433,537
Total Expenses per Audited Statements$433,537
Total Expenses per Form 990$433,537
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Payable$14,100
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“A copy of form 990 was provided to the board of directors before filing.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Ascension Economic Development
EIN
30-0340663
Phone
2256751751
Address
6967 HIGHWAY 22, SORRENTO, LA 70778

Signing Officer

Name
John Berthelot
Title
Interim President & CEO
Phone
2256751750
Signed
2016-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Berthelot
Formed
2005
Legal Domicile
La
Voting Board Members
10
Independent Board Members
10
Employees
3
Volunteers
10

Preparer

Firm
Postlethwaite & Netterville Apac
Address
326 E CORNERVIEW, GONZALES, LA 70737
Preparer
Jon Leblanc
Phone
2256211100
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The process has not changed from prior year.”

Financial Statement Notes

PART X, LINE 2:

“The corporation operates as a public charity under section 501(c) (6) of the internal revenue code and, accordingly, is exempt from federal and state income taxes. The corporation accounts for income taxes in accordance with income tax accounting guidance included in the financial accounting standards board (fasb) accounting standards codification (asc). Management believes it has no material uncertain tax positions and, accordingly there is no provision for income taxes in the accompanying financial statements. The corporation file form 990 tax returns in the u.s. Federal jurisdiction.”

Raw XML AppendixShowing 400 of 436 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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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0427520
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0372458
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IRS990ScheduleA/TotalSupportAmt02229139
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt014658
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt014658
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0433537
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01498
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt05266
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt06764
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01526
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt06980
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt08506
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt014100
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED PAYABLE
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0508874
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION OPERATES AS A PUBLIC CHARITY UNDER SECTION 501(C) (6) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THE CORPORATION ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH INCOME TAX ACCOUNTING GUIDANCE INCLUDED IN THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC). MANAGEMENT BELIEVES IT HAS NO MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY THERE IS NO PROVISION FOR INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE CORPORATION FILE FORM 990 TAX RETURNS IN THE U.S. FEDERAL JURISDICTION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03024
IRS990ScheduleD/TotalExpensesPerForm990Amt0433537
IRS990ScheduleD/TotalLiabilityAmt014100
IRS990ScheduleD/TotalRevenuePerForm990Amt0508874
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0508874
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0433537
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/IdemnificationGrossUpPmtsInd0X
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MIKE EADES
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0153895
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SubstantiationRequiredInd01
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ASCENSION ECONOMIC DEVELOPMENT FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0204616260
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0LA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0LA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0277564
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0333608
IRS990/TotalAssetsEOYAmt0410865
IRS990/TotalAssetsGrp/BOYAmt0333608
IRS990/TotalAssetsGrp/EOYAmt0410865
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0507997
IRS990/TotalEmployeeCnt03
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt012645
IRS990/TotalLiabilitiesGrp/EOYAmt014565
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0320963
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IRS990/TotalOtherCompensationAmt030301
IRS990/TotalReportableCompFromOrgAmt0123594
IRS990/TotalRevenueGrp/ExclusionAmt0877
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt05923
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt044234
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0118736
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt06967 HIGHWAY 22

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$410,865
Liabilities
$14,565
Net assets
$396,300
Revenue
$508,874
Expenses
$433,537
Net income
$75,337
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.33$0.04$1.29$0.60$0.54$0.06
2023Detailed filing. Detailed filing data is available for this year.$1.26$0.03$1.23$0.54$0.48$0.06
2022Detailed filing. Detailed filing data is available for this year.$1.34$0.17$1.17$0.62$0.61$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.33$0.17$1.16$0.53$0.45$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.31$0.22$1.09$0.53$0.42$0.11
2019Detailed filing. Detailed filing data is available for this year.$0.99$0.01$0.97$0.52$0.36$0.17
2018Detailed filing. Detailed filing data is available for this year.$0.82$0.01$0.81$0.53$0.37$0.16
2017Detailed filing. Detailed filing data is available for this year.$0.65$0.01$0.65$0.52$0.35$0.17
2016Detailed filing. Detailed filing data is available for this year.$0.48$0.01$0.47$0.48$0.41$0.07
2015Detailed filing. Detailed filing data is available for this year.$0.41$0.01$0.40$0.51$0.43$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.33$0.01$0.32$0.48$0.45$0.03
2013Detailed filing. Detailed filing data is available for this year.$0.30$0.01$0.29$0.44$0.41$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.26$0.00$0.26$0.39
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.25$0.03$0.22$0.34
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.23$0.04$0.19$0.38