Civic Intelligence

Elmore County Economic Development Authority

990 • Fiscal year 2023 • EIN 33-1021258

Oct 01, 2022 to Sep 30, 2023 • Filed on Nov 22, 2023

194 Fort Toulouse Road BWetumpka, AL 36092

(334) 514-5843

Siviq Scores

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

Liabilities / Assets

48th percentile

0.05x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

28th percentile

0.01x

Higher debt load relative to revenue than 28% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

82nd percentile

30%

Higher net margin than 82% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

60th percentile

$83,283

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 11.4% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

1st percentile

-83%

Faster asset growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

86th percentile

61%

Faster revenue growth than 86% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$176,121

Down $839,747 (-83%) from 2022

Net Assets

Up

$166,567

Up $218,117 (+423%) from 2022

Liabilities

Down

$9,554

Down $1,057,864 (-99%) from 2022

Revenue

Up

$728,154

Up $274,723 (+61%) from 2022

Expenses

Up

$510,037

Up $1,486 (+0.3%) from 2022

Net Income

Up

$218,117

Up $273,237 (+496%) from 2022

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2012: $572,523Liabilities 2012: $493,855Net Assets 2012: $78,6682012Assets 2013: $500,673Liabilities 2013: $489,886Net Assets 2013: $10,7872013Assets 2014: $569,021Liabilities 2014: $489,135Net Assets 2014: $79,8862014Assets 2015: $1,070,487Liabilities 2015: $1,050,565Net Assets 2015: $19,9222015Assets 2016: $1,125,208Liabilities 2016: $1,056,458Net Assets 2016: $68,7502016Assets 2017: $1,084,210Liabilities 2017: $1,055,226Net Assets 2017: $28,9842017Assets 2018: $1,031,432Liabilities 2018: $1,051,652Net Assets 2018: -$20,2202018Assets 2019: $1,139,614Liabilities 2019: $1,054,363Net Assets 2019: $85,2512019Assets 2020: $1,046,920Liabilities 2020: $1,054,185Net Assets 2020: -$7,2652020Assets 2021: $1,054,545Liabilities 2021: $1,050,975Net Assets 2021: $3,5702021Assets 2022: $1,015,868Liabilities 2022: $1,067,418Net Assets 2022: -$51,5502022Assets 2023: $176,121Liabilities 2023: $9,554Net Assets 2023: $166,5672023Assets 2024: $359,514Liabilities 2024: $1,107Net Assets 2024: $358,4072024Assets 2025: $380,411Liabilities 2025: $15,672Net Assets 2025: $364,7392025

Highlighted filing

2023

Assets$176,121
Liabilities$9,554
Net Assets$166,567

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2012: $631,4402012Expenses 2013: $358,8242013Revenue 2014: $302,253Expenses 2014: $233,154Net Income 2014: $69,0992014Revenue 2015: $188,783Expenses 2015: $248,747Net Income 2015: -$59,9642015Revenue 2016: $322,606Expenses 2016: $273,778Net Income 2016: $48,8282016Revenue 2017: $406,736Expenses 2017: $446,502Net Income 2017: -$39,7662017Revenue 2018: $315,972Expenses 2018: $365,176Net Income 2018: -$49,2042018Revenue 2019: $484,610Expenses 2019: $379,139Net Income 2019: $105,4712019Revenue 2020: $432,608Expenses 2020: $525,124Net Income 2020: -$92,5162020Revenue 2021: $598,058Expenses 2021: $587,223Net Income 2021: $10,8352021Revenue 2022: $453,431Expenses 2022: $508,551Net Income 2022: -$55,1202022Revenue 2023: $728,154Expenses 2023: $510,037Net Income 2023: $218,1172023Revenue 2024: $627,552Expenses 2024: $435,712Net Income 2024: $191,8402024Revenue 2025: $586,581Expenses 2025: $580,249Net Income 2025: $6,3322025

Highlighted filing

2023

Revenue$728,154
Expenses$510,037
Net Income$218,117
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Nov 22, 2023
Return Version
2022v5.0
Gross Receipts
$1,542,641
Mission and Program Overview

Mission

Economic development of elmore county

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$822,516$0▼ $822,516
Rtn Earn Endowment Incm Other Fnds$-51,550$166,567▲ $218,117
Cash and Non-Interest-Bearing Accounts$137,690$147,908▲ $10,218
Other Notes and Loans Receivable, Net$28,213$28,213→ $0
Savings and Temporary Cash Investments$27,449$0▼ $27,449
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,015,868$176,121▼ $839,747
Liabilities
Accounts Payable and Accrued Expenses$15,400$6,650▼ $8,750
Other Liabilities$1,052,018$2,904▼ $1,049,114
Total Liabilities$1,067,418$9,554▼ $1,057,864
Net Assets / Fund Balance
Total Net Assets Fund Balance$-51,550$166,567▲ $218,117
Total Liabilities and Net Assets / Fund Balance$1,015,868$176,121▼ $839,747

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$12,966-
Equipment$0$24,605-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lisa Van WagnerExecutive DirectorFT$83,283$83,283
Cary CoxFormer Executive Director-$59,076$59,076

Board Members and Trustees

NameTitle
Art FaulknerChairman
Laurie RygielVice Chairman
Ann HarperBoard Member
Brenda DennisBoard Member
Clay McconnellBoard Member
Emilie JohnsonBoard Member
Harris GarnerBoard Member
John StricklandBoard Member
Lee GreerBoard Member
Lynn WeldonBoard Member
Margaret CrosbyBoard Member
Rhett SmithBoard Member
Sharon AlexanderBoard Member
Shellie WhitfieldBoard Member
Tim GothardBoard Member
Tom StackhouseBoard Member
Harv CarterTreasurer/secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$566,526
Program Service Revenue
$0
Investment Income
$-364,268
Other Revenue
$525,896
All Other Contributions
$566,526
Change in Net Assets
$218,117
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$356,099
Salaries, Compensation, and Employee Benefits$153,938
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$246,506--$246,506
Current Officers, Directors, Trustees, and Key Employees$106,769$35,590-$142,359
Conferences and Meetings$22,912--$22,912
Occupancy-$20,102-$20,102
Advertising$16,392--$16,392
Fees for Services Accounting$11,230--$11,230
Payroll Taxes$8,180$2,727-$10,907
Depreciation Depletion-$8,029-$8,029
Insurance-$7,354-$7,354
Fees for Services Legal$3,455$3,455-$6,910
Office Expenses$2,946$2,946-$5,892
Interest-$4,684-$4,684
Travel$2,598$866-$3,464
Other Employee Benefits$504$168-$672
Other Expenses$105$35-$140
All Other Expenses-$25-$25
Total Functional Expenses$422,721$87,316$0$510,037
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Tax Liabilities$2,904
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The 990 is forwarded in draft form for review and approval by the board before final form 990 is submitted to the irs.

Form 990, Part VI, Section C, Line 19

Form 990 is on file at the office of the authority and is made available as requested.

Filing and Contact Details

Filer

Filer Name
Elmore County Economic Development
EIN
33-1021258
Phone
3345145843
Address
194 FORT TOULOUSE ROAD B, WETUMPKA, AL 36092

Signing Officer

Name
Art Faulkner
Title
Chairman
Phone
3345145843
Signed
2023-11-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Art Faulkner
Formed
2004
Legal Domicile
Al
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
0

Preparer

Firm
Jackson Thornton & Co Pc
Address
194 FORT TOULOUSE ROAD, WETUMPKA, AL 36092
Preparer
Jacob S Studdard
Phone
3345673400
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Professional services - projects: program service expenses 158,800. Management and general expenses 0. Fundraising expenses 0. Total expenses 158,800. Project expenses: program service expenses 87,706. Management and general expenses 0. Fundraising expenses 0. Total expenses 87,706.

Part XII, Line 2C

The compiled financial statements are provided to the board for review and approval.

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IRS990/InterestGrp/ManagementAndGeneralAmt04684
IRS990/InterestGrp/TotalAmt04684
IRS990/InvestmentIncomeGrp/ExclusionAmt0219
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0219
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt037571
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0822516
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LandBldgEquipCostOrOtherBssAmt037571
IRS990/LegalDomicileStateCd0AL
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0814487
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0ECONOMIC DEVELOPMENT OF ELMORE COUNTY
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0-51550
IRS990/NetAssetsOrFundBalancesEOYAmt0166567
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-364487
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-364487
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt020102
IRS990/OccupancyGrp/TotalAmt020102
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02946
IRS990/OfficeExpensesGrp/ProgramServicesAmt02946
IRS990/OfficeExpensesGrp/TotalAmt05892
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0168
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0504
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0672
IRS990/OtherExpensesGrp/Desc0DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc1BANK CHARGES
IRS990/OtherExpensesGrp/Desc2GIFTS/BEREAVEMENT
IRS990/OtherExpensesGrp/Desc3MEALS & ENTERTAINMENT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0959
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1321
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt255
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt335
IRS990/OtherExpensesGrp/ProgramServicesAmt0960
IRS990/OtherExpensesGrp/ProgramServicesAmt1164
IRS990/OtherExpensesGrp/ProgramServicesAmt2105
IRS990/OtherExpensesGrp/TotalAmt01919
IRS990/OtherExpensesGrp/TotalAmt1321
IRS990/OtherExpensesGrp/TotalAmt2219
IRS990/OtherExpensesGrp/TotalAmt3140
IRS990/OtherLiabilitiesGrp/BOYAmt01052018
IRS990/OtherLiabilitiesGrp/EOYAmt02904
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0CANCELLATION OF DEBT
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0525896
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0525896
IRS990/OtherRevenueTotalAmt0525896
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt028213
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt028213
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02727
IRS990/PayrollTaxesGrp/ProgramServicesAmt08180
IRS990/PayrollTaxesGrp/TotalAmt010907
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0ART FAULKNER
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0429335
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt096
IRS990/PYOtherExpensesAmt0343678
IRS990/PYOtherRevenueAmt024000
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-55120
IRS990/PYSalariesCompEmpBnftPaidAmt0164873
IRS990/PYTotalExpensesAmt0508551
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0453431
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0218117
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0566526
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0-51550
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0166567
IRS990/SavingsAndTempCashInvstGrp/BOYAmt027449
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0566526
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0429335
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0549963
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0384418
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0443450
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02373692
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0219
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt096
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt096
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0190
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01910
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02511
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0159250
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99890
IRS990ScheduleA/PublicSupportPY170Pct00.99800
IRS990ScheduleA/PublicSupportTotal170Amt02373692
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0566526
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0429335
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0549963
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0384418
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0443450
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02373692
IRS990ScheduleA/TotalSupportAmt02376203
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/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt024605
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt024605
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt012966
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt012966
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02904
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL TAX LIABILITIES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt02904
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt059076
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.38$0.02$0.36$0.59$0.58$0.01
2024Detailed filing. Detailed filing data is available for this year.$0.36$0.00$0.36$0.63$0.44$0.19
2023Detailed filing. Detailed filing data is available for this year.$0.18$0.01$0.17$0.73$0.51$0.22
2022Detailed filing. Detailed filing data is available for this year.$1.02$1.07$0.05$0.45$0.51$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.05$1.05$0.00$0.60$0.59$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.05$1.05$0.01$0.43$0.53$0.09
2019Detailed filing. Detailed filing data is available for this year.$1.14$1.05$0.09$0.48$0.38$0.11
2018Detailed filing. Detailed filing data is available for this year.$1.03$1.05$0.02$0.32$0.37$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.08$1.06$0.03$0.41$0.45$0.04
2016Detailed filing. Detailed filing data is available for this year.$1.13$1.06$0.07$0.32$0.27$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.07$1.05$0.02$0.19$0.25$0.06
2014Detailed filing. Detailed filing data is available for this year.$0.57$0.49$0.08$0.30$0.23$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.49$0.01$0.36
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.57$0.49$0.08$0.63