Civic Intelligence

Graves County Economic Development Inc.

990 • Fiscal year 2020 • EIN 31-1027582

Jul 01, 2019 to Jun 30, 2020 • Filed on May 17, 2021

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

43rd percentile

0.11x

Higher debt load relative to assets than 43% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

70th percentile

0.48x

Higher debt load relative to revenue than 70% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

95th percentile

69%

Higher net margin than 95% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

82nd percentile

33%

Faster asset growth than 82% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

13th percentile

-33%

Faster revenue growth than 13% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Up

$7,819,175

Up $1,931,938 (+33%) from 2019

Net Assets

Up

$6,933,451

Up $1,268,853 (+22%) from 2019

Liabilities

Up

$885,724

Up $663,085 (+298%) from 2019

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin95th percentile

Revenue

Down

$1,841,300

Down $912,296 (-33%) from 2019

Expenses

Down

$572,447

Down $139,509 (-20%) from 2019

Net Income

Down

$1,268,853

Down $772,787 (-38%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth82nd 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

2020

Assets$7,819,175
Liabilities$885,724
Net Assets$6,933,451
Open 2020 Filing

Operations Trend

Revenue Growth13th 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

2020

Revenue$1,841,300
Expenses$572,447
Net Income$1,268,853
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 17, 2021
Return Version
2019v5.0
Gross Receipts
$1,841,300
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$2,215,747$2,507,857▲ $292,110
Cash and Non-Interest-Bearing Accounts$2,664,271$2,019,277▼ $644,994
Land, Buildings, and Equipment, Net$470,027$512,571▲ $42,544
Savings and Temporary Cash Investments$428,132$423,500▼ $4,632
Prepaid Expenses and Deferred Charges$9,021$0▼ $9,021
Accounts Receivable$39$39→ $0
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$5,887,237$7,819,175▲ $1,931,938
Other Assets Total$100,000$2,355,931▲ $2,255,931
Liabilities
Mortgage Notes Payable Secured by Investment Property$102,799$794,814▲ $692,015
Accounts Payable and Accrued Expenses$20,080$45,562▲ $25,482
Other Liabilities$99,760$45,348▼ $54,412
Total Liabilities$222,639$885,724▲ $663,085
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,670,658$4,109,935▲ $439,277
Net Assets Without Donor Restrictions$1,993,940$2,823,516▲ $829,576
Total Net Assets Fund Balance$5,664,598$6,933,451▲ $1,268,853
Total Liabilities and Net Assets / Fund Balance$5,887,237$7,819,175▲ $1,931,938

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$512,571$68,568$581,139
Other Assets Org$2,355,931--
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Ryan DranePresident
See List of Board MembersBoard
Revenue and Support

Revenue Composition

Contributions and Grants
$1,717,932
Program Service Revenue
$0
Investment Income
$67,384
Other Revenue
$55,984
All Other Contributions
$151,650
Change in Net Assets
$1,268,853
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$340,998
Other Expenses$231,449
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$187,108--$187,108
Other Salaries and Wages$102,079--$102,079
Advertising-$46,485-$46,485
Fees for Services Accounting$25,200--$25,200
Payroll Taxes$19,750--$19,750
Pension Plan Contributions$16,141--$16,141
Other Employee Benefits$15,920--$15,920
Depreciation Depletion$12,891--$12,891
Insurance$12,175--$12,175
Fees for Services Other$10,006--$10,006
Occupancy-$6,081-$6,081
Interest$4,377--$4,377
Travel$4,163--$4,163
Office Expenses$2,687--$2,687
Other Expenses$2,616--$2,616
Conferences and Meetings-$1,021-$1,021
All Other Expenses$143--$143
Total Functional Expenses$518,860$53,587$0$572,447
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$45,345
Rounding$3
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 35% controlled entity
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
Brad Dame
Title
Chairman
Signed
2021-05-17
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
Preparer
Krista Romaine CPA
Phone
2702478050
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0115000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0114500
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02296002
IRS990ScheduleA/TotalSupportAmt02531295
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02355931
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ASSET HELD FOR RESLATE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0512571
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt068568
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0581139
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt045345
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED GAIN - ASSUMED LEASE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Rounding
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0512571
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02355931
IRS990ScheduleD/TotalLiabilityAmt045348
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt07819175
IRS990/TotalAssetsGrp/BOYAmt05887237
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01717932
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt053587
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0518860
IRS990/TotalFunctionalExpensesGrp/TotalAmt0572447
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0222639
IRS990/TotalLiabilitiesEOYAmt0885724
IRS990/TotalLiabilitiesGrp/BOYAmt0222639
IRS990/TotalLiabilitiesGrp/EOYAmt0885724
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05664598
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06933451
IRS990/TotalProgramServiceExpensesAmt0518860
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0123368
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01841300
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05887237
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07819175
IRS990/TravelGrp/ProgramServicesAmt04163
IRS990/TravelGrp/TotalAmt04163
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Brad Dame
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-17
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/ZIPCd042066
ReturnHeader/PreparerPersonGrp/PhoneNum02702478050
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KRISTA ROMAINE CPA
ReturnHeader/ReturnTs02021-05-17T14:41:05-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,819,175
Liabilities
$885,724
Net assets
$6,933,451
Revenue
$1,841,300
Expenses
$572,447
Net income
$1,268,853
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
2020Detailed filing. Detailed filing data is available for this year.$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