Civic Intelligence

Graves County Economic Development Inc.

990 • Fiscal year 2018 • EIN 31-1027582

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 26, 2018

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

67th percentile

0.24x

Higher debt load relative to assets than 67% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

94th percentile

3.79x

Higher debt load relative to revenue than 94% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

4th percentile

-78%

Higher net margin than 4% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

64th percentile

$90,311

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 30.0% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

14th percentile

-9.6%

Faster asset growth than 14% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

89th percentile

56%

Faster revenue growth than 89% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$4,765,636

Down $503,788 (-9.6%) from 2017

Net Assets

Down

$3,622,958

Down $233,801 (-6.1%) from 2017

Liabilities

Down

$1,142,678

Down $269,987 (-19%) from 2017

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin4th percentile

Revenue

Up

$301,428

Up $108,151 (+56%) from 2017

Expenses

Up

$535,229

Up $111,983 (+26%) from 2017

Net Income

Down

-$233,801

Down $3,832 (-1.7%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth14th 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

2018

Assets$4,765,636
Liabilities$1,142,678
Net Assets$3,622,958
Open 2018 Filing

Operations Trend

Revenue Growth89th 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

2018

Revenue$301,428
Expenses$535,229
Net Income-$233,801
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 26, 2018
Return Version
2017v2.2
Gross Receipts
$301,428
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$2,044,634$1,694,132▼ $350,502
Cash and Non-Interest-Bearing Accounts$1,072,588$913,425▼ $159,163
Land, Buildings, and Equipment, Net$461,923$462,876▲ $953
Savings and Temporary Cash Investments$423,500$423,500→ $0
Accounts Receivable$6,700$6,724▲ $24
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$5,269,424$4,765,636▼ $503,788
Other Assets Total$1,260,079$1,264,979▲ $4,900
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,186,336$976,486▼ $209,850
Other Liabilities$208,589$154,174▼ $54,415
Accounts Payable and Accrued Expenses$17,740$12,018▼ $5,722
Total Liabilities$1,412,665$1,142,678▼ $269,987
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,909,908$2,949,713▲ $39,805
Unrestricted Net Assets$946,851$673,245▼ $273,606
Total Net Assets Fund Balance$3,856,759$3,622,958▼ $233,801
Total Liabilities and Net Assets / Fund Balance$5,269,424$4,765,636▼ $503,788

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$462,876$53,610$516,486
Other Assets Org$1,264,979--
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mr Ryan DranePresidentFT$90,311$90,311

Board Members and Trustees

NameTitle
See List of Board MembersBoard
Revenue and Support

Revenue Composition

Contributions and Grants
$215,820
Program Service Revenue
$0
Investment Income
$27,692
Other Revenue
$57,916
All Other Contributions
$215,820
Change in Net Assets
$-233,801
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$308,611
Salaries, Compensation, and Employee Benefits$226,618
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$93,209--$93,209
Current Officers, Directors, Trustees, and Key Employees$90,311--$90,311
Interest$45,335--$45,335
Advertising-$26,797-$26,797
Fees for Services Accounting$23,200--$23,200
Other Employee Benefits$15,879--$15,879
Payroll Taxes$15,162--$15,162
Pension Plan Contributions$12,057--$12,057
Insurance$9,570--$9,570
Fees for Services Other$6,095--$6,095
Other Expenses$6,089--$6,089
Occupancy-$5,530-$5,530
Travel$4,928--$4,928
Office Expenses$1,988--$1,988
Depreciation Depletion$1,975--$1,975
Conferences and Meetings-$1,710-$1,710
All Other Expenses$924--$924
Total Functional Expenses$501,192$34,037$0$535,229
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Gain - Assumed Lease$154,174
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
2018-11-26
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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IRS990ScheduleA/TotalSupportAmt0929486
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01264979
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ASSET HELD FOR RESLATE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0462876
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt053610
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0516486
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0154174
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED GAIN - ASSUMED LEASE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0462876
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01264979
IRS990ScheduleD/TotalLiabilityAmt0154174
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/BOYAmt02909908
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt02949713
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05269424
IRS990/TotalAssetsEOYAmt04765636
IRS990/TotalAssetsGrp/BOYAmt05269424
IRS990/TotalAssetsGrp/EOYAmt04765636
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0215820
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt034037
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0501192
IRS990/TotalFunctionalExpensesGrp/TotalAmt0535229
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01412665
IRS990/TotalLiabilitiesEOYAmt01142678
IRS990/TotalLiabilitiesGrp/BOYAmt01412665
IRS990/TotalLiabilitiesGrp/EOYAmt01142678
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03856759
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03622958
IRS990/TotalProgramServiceExpensesAmt0501192
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt090311
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt085608
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0301428
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05269424
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04765636
IRS990/TravelGrp/ProgramServicesAmt04928
IRS990/TravelGrp/TotalAmt04928
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0946851
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0673245
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt024
IRS990/VotingMembersIndependentCnt024
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Mr Ryan Drane
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-26
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/PreparerFirmEIN0331075220
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/ReturnTs02018-11-26T08:22:35-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,765,636
Liabilities
$1,142,678
Net assets
$3,622,958
Revenue
$301,428
Expenses
$535,229
Net income
-$233,801
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
2018Detailed filing. Detailed filing data is available for this year.$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