Civic Intelligence

Graves County Economic Development Inc.

990 • Fiscal year 2019 • EIN 31-1027582

Jul 01, 2018 to Jun 30, 2019 • Filed on May 13, 2020

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

30th percentile

0.04x

Higher debt load relative to assets than 30% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

33rd percentile

0.08x

Higher debt load relative to revenue than 33% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

96th percentile

74%

Higher net margin than 96% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

52nd percentile

$126,589

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

85th percentile

24%

Faster asset growth than 85% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

99th percentile

814%

Faster revenue growth than 99% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets30th percentile

Assets

Up

$5,887,237

Up $1,121,601 (+24%) from 2018

Net Assets

Up

$5,664,598

Up $2,041,640 (+56%) from 2018

Liabilities

Down

$222,639

Down $920,039 (-81%) from 2018

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin96th percentile

Revenue

Up

$2,753,596

Up $2,452,168 (+814%) from 2018

Expenses

Up

$711,956

Up $176,727 (+33%) from 2018

Net Income

Up

$2,041,640

Up $2,275,441 (+973%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth85th 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

2019

Assets$5,887,237
Liabilities$222,639
Net Assets$5,664,598
Open 2019 Filing

Operations Trend

Revenue Growth99th 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

2019

Revenue$2,753,596
Expenses$711,956
Net Income$2,041,640
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 13, 2020
Return Version
2018v3.1
Gross Receipts
$2,753,596
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
Cash and Non-Interest-Bearing Accounts$913,425$2,664,271▲ $1,750,846
Other Notes and Loans Receivable, Net$1,694,132$2,215,747▲ $521,615
Land, Buildings, and Equipment, Net$462,876$470,027▲ $7,151
Savings and Temporary Cash Investments$423,500$428,132▲ $4,632
Prepaid Expenses and Deferred Charges-$9,021-
Accounts Receivable$6,724$39▼ $6,685
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-
Total Assets$4,765,636$5,887,237▲ $1,121,601
Other Assets Total$1,264,979$100,000▼ $1,164,979
Liabilities
Mortgage Notes Payable Secured by Investment Property$976,486$102,799▼ $873,687
Other Liabilities$154,174$99,760▼ $54,414
Accounts Payable and Accrued Expenses$12,018$20,080▲ $8,062
Total Liabilities$1,142,678$222,639▼ $920,039
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,949,713$3,670,658▲ $720,945
Unrestricted Net Assets$673,245$1,993,940▲ $1,320,695
Total Net Assets Fund Balance$3,622,958$5,664,598▲ $2,041,640
Total Liabilities and Net Assets / Fund Balance$4,765,636$5,887,237▲ $1,121,601

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$470,027$55,677$525,704
Compensation and Service Providers
Top Officer Pay52nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mr Ryan DranePresidentFT$126,589$126,589

Board Members and Trustees

NameTitle
See List of Board MembersBoard
Revenue and Support

Revenue Composition

Contributions and Grants
$1,208,075
Program Service Revenue
$0
Investment Income
$75,786
Other Revenue
$1,469,735
All Other Contributions
$208,075
Change in Net Assets
$2,041,640
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$440,749
Salaries, Compensation, and Employee Benefits$271,207
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$126,589--$126,589
Other Salaries and Wages$97,353--$97,353
Advertising-$26,442-$26,442
Fees for Services Accounting$23,201--$23,201
Other Employee Benefits$17,443--$17,443
Payroll Taxes$17,162--$17,162
Interest$12,843--$12,843
Pension Plan Contributions$12,660--$12,660
Fees for Services Other$10,544--$10,544
Insurance$9,778--$9,778
Occupancy-$6,953-$6,953
Travel$6,813--$6,813
Other Expenses$6,238--$6,238
Office Expenses$4,132--$4,132
Depreciation Depletion$2,067--$2,067
Conferences and Meetings-$645-$645
All Other Expenses$575--$575
Total Functional Expenses$677,916$34,040$0$711,956
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$99,760
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
2020-05-13
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/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0115000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0114500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0113500
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0691570
IRS990ScheduleA/TotalSupportAmt0953945
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0470027
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt055677
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0525704
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt099760
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED GAIN - ASSUMED LEASE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0470027
IRS990ScheduleD/TotalLiabilityAmt099760
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/USAddress/AddressLine1Txt0210 East College Street
IRS990/USAddress/CityNm0Mayfield
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd042066
IRS990/VotingMembersGoverningBodyCnt024
IRS990/VotingMembersIndependentCnt024
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Mr Ryan Drane
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Graves County Economic Development Inc
ReturnHeader/Filer/BusinessNameControlTxt0GRAV
ReturnHeader/Filer/EIN0311027582
ReturnHeader/Filer/PhoneNum02702470626
ReturnHeader/Filer/USAddress/AddressLine1Txt0210 East College Street
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd042066
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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/ReturnTs02020-05-13T12:21:27-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,887,237
Liabilities
$222,639
Net assets
$5,664,598
Revenue
$2,753,596
Expenses
$711,956
Net income
$2,041,640
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
2019Detailed filing. Detailed filing data is available for this year.$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