Civic Intelligence

Graves County Economic Development Inc.

990 • Fiscal year 2016 • EIN 31-1027582

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 07, 2016

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

48th percentile

0.08x

Higher debt load relative to assets than 48% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

86th percentile

1.23x

Higher debt load relative to revenue than 86% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

5th percentile

-69%

Higher net margin than 5% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

60th percentile

$82,917

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 26.8% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

16th percentile

-7.3%

Faster asset growth than 16% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

92nd percentile

78%

Faster revenue growth than 92% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets48th percentile

Assets

Down

$4,465,818

Down $353,429 (-7.3%) from 2015

Net Assets

Down

$4,086,728

Down $213,662 (-5.0%) from 2015

Liabilities

Down

$379,090

Down $139,767 (-27%) from 2015

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin5th percentile

Revenue

Up

$309,338

Up $135,467 (+78%) from 2015

Expenses

Up

$522,895

Up $290,621 (+125%) from 2015

Net Income

Down

-$213,557

Down $155,154 (-266%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth16th 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

2016

Assets$4,465,818
Liabilities$379,090
Net Assets$4,086,728
Open 2016 Filing

Operations Trend

Revenue Growth92nd percentile

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

2016

Revenue$309,338
Expenses$522,895
Net Income-$213,557
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 7, 2016
Return Version
2015v2.0
Gross Receipts
$378,322
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$1,979,728$2,192,363▲ $212,635
Savings and Temporary Cash Investments$1,297,939$1,097,939▼ $200,000
Cash and Non-Interest-Bearing Accounts$1,039,573$712,463▼ $327,110
Land, Buildings, and Equipment, Net$496,132$462,953▼ $33,179
Accounts Receivable$5,875$100▼ $5,775
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$4,819,247$4,465,818▼ $353,429
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$510,089$367,399▼ $142,690
Accounts Payable and Accrued Expenses$8,768$11,691▲ $2,923
Total Liabilities$518,857$379,090▼ $139,767
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,855,737$2,891,843▲ $36,106
Unrestricted Net Assets$1,444,653$1,194,885▼ $249,768
Total Net Assets Fund Balance$4,300,390$4,086,728▼ $213,662
Total Liabilities and Net Assets / Fund Balance$4,819,247$4,465,818▼ $353,429

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$462,953$49,820$512,773
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mr Ryan DranePresidentFT$82,917$82,917

Board Members and Trustees

NameTitle
See List of Board MembersBoard
Revenue and Support

Revenue Composition

Contributions and Grants
$115,000
Program Service Revenue
$0
Investment Income
$189,102
Other Revenue
$5,236
All Other Contributions
$115,000
Change in Net Assets
$-213,557
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$357,920
Salaries, Compensation, and Employee Benefits$164,975
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$82,917--$82,917
Other Salaries and Wages$51,755--$51,755
Fees for Services Accounting$23,375--$23,375
Interest$22,298--$22,298
Advertising-$15,192-$15,192
Payroll Taxes$12,397--$12,397
Pension Plan Contributions$9,361--$9,361
Other Employee Benefits$8,545--$8,545
Insurance$7,392--$7,392
Occupancy-$5,736-$5,736
Office Expenses$3,693--$3,693
Depreciation Depletion$2,551--$2,551
Other Expenses$2,344--$2,344
Conferences and Meetings-$2,214-$2,214
Fees for Services Other$1,957--$1,957
Travel$1,745--$1,745
All Other Expenses$135--$135
Total Functional Expenses$499,753$23,142$0$522,895
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
2016-11-07
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/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0462953
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt049820
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0512773
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0462953
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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt02855737
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt02891843
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04819247
IRS990/TotalAssetsEOYAmt04465818
IRS990/TotalAssetsGrp/BOYAmt04819247
IRS990/TotalAssetsGrp/EOYAmt04465818
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0115000
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt023142
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0499753
IRS990/TotalFunctionalExpensesGrp/TotalAmt0522895
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0518857
IRS990/TotalLiabilitiesEOYAmt0379090
IRS990/TotalLiabilitiesGrp/BOYAmt0518857
IRS990/TotalLiabilitiesGrp/EOYAmt0379090
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04300390
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04086728
IRS990/TotalProgramServiceExpensesAmt0499753
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt082917
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0194338
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0309338
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04819247
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04465818
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ProgramServicesAmt01745
IRS990/TravelGrp/TotalAmt01745
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01444653
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01194885
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt024
IRS990/VotingMembersIndependentCnt024
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Mr Ryan Drane
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-07
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/ReturnTs02016-11-07T04:55:46-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,465,818
Liabilities
$379,090
Net assets
$4,086,728
Revenue
$309,338
Expenses
$522,895
Net income
-$213,557
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
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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