Civic Intelligence

Graves County Economic Development Inc.

990 • Fiscal year 2015 • EIN 31-1027582

Jul 01, 2014 to Jun 30, 2015 • Filed on Dec 02, 2015

Organization ProfileN/A
210 East College StreetMayfield, KY 42066

(270) 247-0626

Siviq Scores

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

Liabilities / Assets

51st percentile

0.11x

Higher debt load relative to assets than 51% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

92nd percentile

2.98x

Higher debt load relative to revenue than 92% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

9th percentile

-34%

Higher net margin than 9% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

59th percentile

$80,000

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 46.0% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

22nd percentile

-5.2%

Faster asset growth than 22% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2015

Revenue Growth

Score unavailable

No value available

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

Source year 2015

Balance Sheet
Liabilities / Assets51st percentile

Assets

Down

$4,819,247

Down $543,807 (-10%) from 2013

Net Assets

Down

$4,300,390

Down $195,381 (-4.3%) from 2013

Liabilities

Down

$518,857

Down $348,426 (-40%) from 2013

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin9th percentile

Revenue

$173,871

No earlier filing loaded for comparison.

Expenses

Down

$232,274

Down $24,839 (-9.7%) from 2013

Net Income

-$58,403

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2013: $5,363,054Liabilities 2013: $867,283Net Assets 2013: $4,495,7712013Assets 2015: $4,819,247Liabilities 2015: $518,857Net Assets 2015: $4,300,3902015Assets 2016: $4,465,818Liabilities 2016: $379,090Net Assets 2016: $4,086,7282016Assets 2017: $5,269,424Liabilities 2017: $1,412,665Net Assets 2017: $3,856,7592017Assets 2018: $4,765,636Liabilities 2018: $1,142,678Net Assets 2018: $3,622,9582018Assets 2019: $5,887,237Liabilities 2019: $222,639Net Assets 2019: $5,664,5982019Assets 2020: $7,819,175Liabilities 2020: $885,724Net Assets 2020: $6,933,4512020Assets 2023: $472,627Net Assets 2023: $472,6272023Assets 2024: $5,278,687Liabilities 2024: $310,757Net Assets 2024: $4,967,9302024

Highlighted filing

2015

Assets$4,819,247
Liabilities$518,857
Net Assets$4,300,390
Open 2015 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2013: $257,1132013Revenue 2015: $173,871Expenses 2015: $232,274Net Income 2015: -$58,4032015Revenue 2016: $309,338Expenses 2016: $522,895Net Income 2016: -$213,5572016Revenue 2017: $193,277Expenses 2017: $423,246Net Income 2017: -$229,9692017Revenue 2018: $301,428Expenses 2018: $535,229Net Income 2018: -$233,8012018Revenue 2019: $2,753,596Expenses 2019: $711,956Net Income 2019: $2,041,6402019Revenue 2020: $1,841,300Expenses 2020: $572,447Net Income 2020: $1,268,8532020Revenue 2023: $81,057Expenses 2023: $13,016Net Income 2023: $68,0412023Revenue 2024: $596,276Expenses 2024: $1,351,049Net Income 2024: -$754,7732024

Highlighted filing

2015

Revenue$173,871
Expenses$232,274
Net Income-$58,403
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Dec 2, 2015
Return Version
2014v5.0
Gross Receipts
$339,327
Mission and Program Overview

Mission

To actively search for new companies and industries to locate in the mayfield, ky and graves county, ky area for economic development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$2,255,436$1,979,728▼ $275,708
Savings and Temporary Cash Investments$1,297,939$1,297,939→ $0
Cash and Non-Interest-Bearing Accounts$976,145$1,039,573▲ $63,428
Land, Buildings, and Equipment, Net$638,566$496,132▼ $142,434
Accounts Receivable$4,434$5,875▲ $1,441
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$5,172,520$4,819,247▼ $353,273
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$699,165$510,089▼ $189,076
Accounts Payable and Accrued Expenses$8,509$8,768▲ $259
Total Liabilities$707,674$518,857▼ $188,817
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,817,158$2,855,737▲ $38,579
Unrestricted Net Assets$1,647,688$1,444,653▼ $203,035
Total Net Assets Fund Balance$4,464,846$4,300,390▼ $164,456
Total Liabilities and Net Assets / Fund Balance$5,172,520$4,819,247▼ $353,273

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$496,132$47,269$543,401
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mr Ryan DranePresidentFT$80,000$80,000

Board Members and Trustees

NameTitle
See List of Board MembersBoard
Revenue and Support

Revenue Composition

Contributions and Grants
$114,500
Program Service Revenue
$0
Investment Income
$54,184
Other Revenue
$5,187
All Other Contributions
$114,500
Change in Net Assets
$-58,403
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$131,865
Other Expenses$100,409
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$80,000--$80,000
Interest$29,215--$29,215
Other Salaries and Wages$29,138--$29,138
Fees for Services Accounting$23,245--$23,245
Advertising-$11,215-$11,215
Payroll Taxes$9,082--$9,082
Insurance$9,064--$9,064
Pension Plan Contributions$7,595--$7,595
Other Employee Benefits$6,050--$6,050
Occupancy-$5,942-$5,942
Conferences and Meetings-$2,552-$2,552
Office Expenses$2,470--$2,470
Depreciation Depletion$2,412--$2,412
Travel$1,829--$1,829
Fees for Services Other$1,539--$1,539
Other Expenses$60--$60
Total Functional Expenses$212,565$19,709$0$232,274
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Reviewed by President”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Graves County Economic Development Inc
EIN
31-1027582
Phone
2702470626
Address
210 East College Street, Mayfield, KY 42066

Signing Officer

Name
Mr Ryan Drane
Title
President
Signed
2015-12-02
Discuss with paid preparer
Yes

Organization Details

Formed
1981
Legal Domicile
Ky
Voting Board Members
24
Independent Board Members
24
Employees
3

Preparer

Firm
Romaine & Associates Pllc
Address
1214 PARIS RD, MAYFIELD, KY 42066-4989
Preparer
Krista Romaine CPA
Phone
2702478050
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0496132
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt047269
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0543401
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0496132
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Reviewed by President
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TotalEmployeeCnt03
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0212565
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IRS990/TotalLiabilitiesEOYAmt0518857
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IRS990/TotalLiabilitiesGrp/EOYAmt0518857
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IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt024
IRS990/VotingMembersIndependentCnt024
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Mr Ryan Drane
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-12-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Graves County Economic Development Inc
ReturnHeader/Filer/BusinessNameControlTxt0GRAV
ReturnHeader/Filer/EIN0311027582
ReturnHeader/Filer/PhoneNum02702470626
ReturnHeader/Filer/USAddress/AddressLine1Txt0210 East College Street
ReturnHeader/Filer/USAddress/CityNm0Mayfield
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd042066
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ROMAINE & ASSOCIATES PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01214 PARIS RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MAYFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0420664989
ReturnHeader/PreparerPersonGrp/PhoneNum02702478050
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KRISTA ROMAINE CPA
ReturnHeader/ReturnTs02015-12-02T12:51:58-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$4,819,247
Liabilities
$518,857
Net assets
$4,300,390
Revenue
$173,871
Expenses
$232,274
Net income
-$58,403
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.28$0.31$4.97$0.60$1.35$0.75
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.47$0.47$0.08$0.01$0.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.82$0.89$6.93$1.84$0.57$1.27
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.89$0.22$5.66$2.75$0.71$2.04
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.77$1.14$3.62$0.30$0.54$0.23
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.27$1.41$3.86$0.19$0.42$0.23
2016Detailed filing. Detailed filing data is available for this year.$4.47$0.38$4.09$0.31$0.52$0.21
2015Detailed filing. Detailed filing data is available for this year.$4.82$0.52$4.30$0.17$0.23$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.36$0.87$4.50$0.26