Civic Intelligence

Council for Economic Development of Hancock County

990 • Fiscal year 2019 • EIN 35-1654127

Jan 01, 2019 to Dec 31, 2019 • Filed on May 06, 2020

Organization ProfileWWW.HANCOCKEDC.COM
One Courthouse PlazaGreenfield, IN 46140

(317) 477-7241

Siviq Scores

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

Liabilities / Assets

54th percentile

0.01x

Higher debt load relative to assets than 54% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

54th percentile

0.01x

Higher debt load relative to revenue than 54% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Net Margin

65th percentile

8.7%

Higher net margin than 65% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Top Officer Pay

95th percentile

$94,500

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 36.6% of source-year revenue.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Asset Growth

64th percentile

10%

Faster asset growth than 64% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

58th percentile

4.4%

Faster revenue growth than 58% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets54th percentile

Assets

Up

$225,976

Up $21,332 (+10%) from 2018

Net Assets

Up

$224,260

Up $22,444 (+11%) from 2018

Liabilities

Down

$1,716

Down $1,112 (-39%) from 2018

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin65th percentile

Revenue

Up

$258,190

Up $10,886 (+4.4%) from 2018

Expenses

Down

$235,746

Down $41,669 (-15%) from 2018

Net Income

Up

$22,444

Up $52,555 (+175%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth64th percentile

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

$800K$600K$400K$200K$0Assets 2011: $109,881Liabilities 2011: $3,337Net Assets 2011: $106,5442011Assets 2012: $127,450Liabilities 2012: $3,320Net Assets 2012: $124,1302012Assets 2014: $130,096Liabilities 2014: $294Net Assets 2014: $129,8022014Assets 2015: $168,143Liabilities 2015: $4,607Net Assets 2015: $163,5362015Assets 2016: $223,562Liabilities 2016: $9,264Net Assets 2016: $214,2982016Assets 2017: $241,175Liabilities 2017: $9,248Net Assets 2017: $231,9272017Assets 2018: $204,644Liabilities 2018: $2,828Net Assets 2018: $201,8162018Assets 2019: $225,976Liabilities 2019: $1,716Net Assets 2019: $224,2602019Assets 2020: $734,848Liabilities 2020: $502,879Net Assets 2020: $231,9692020Assets 2021: $250,377Liabilities 2021: $3,013Net Assets 2021: $247,3642021Assets 2022: $197,838Liabilities 2022: $3,012Net Assets 2022: $194,8262022Assets 2024: $388,571Liabilities 2024: $1,024Net Assets 2024: $387,5472024

Highlighted filing

2019

Assets$225,976
Liabilities$1,716
Net Assets$224,260
Open 2019 Filing

Operations Trend

Revenue Growth58th percentile

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

$1.0M$500K$0-$500KRevenue 2011: $196,896Expenses 2011: $180,913Net Income 2011: $15,9832011Revenue 2012: $183,187Expenses 2012: $165,604Net Income 2012: $17,5832012Revenue 2014: $500,107Expenses 2014: $495,563Net Income 2014: $4,5442014Revenue 2015: $226,877Expenses 2015: $193,143Net Income 2015: $33,7342015Revenue 2016: $252,968Expenses 2016: $202,206Net Income 2016: $50,7622016Revenue 2017: $230,402Expenses 2017: $212,773Net Income 2017: $17,6292017Revenue 2018: $247,304Expenses 2018: $277,415Net Income 2018: -$30,1112018Revenue 2019: $258,190Expenses 2019: $235,746Net Income 2019: $22,4442019Revenue 2020: $276,022Expenses 2020: $268,314Net Income 2020: $7,7082020Revenue 2021: $804,306Expenses 2021: $788,911Net Income 2021: $15,3952021Revenue 2022: $282,440Expenses 2022: $334,978Net Income 2022: -$52,5382022Revenue 2024: $639,100Expenses 2024: $501,691Net Income 2024: $137,4092024

Highlighted filing

2019

Revenue$258,190
Expenses$235,746
Net Income$22,444
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 6, 2020
Return Version
2019v5.0
Gross Receipts
$258,190
Mission and Program Overview

Mission

To promote economic development in hancock county by providing site assistance, cost of doing business analysis, and economic impact modeling to site location consultants, the corporate real estate community, and individual businesses. We serve as a liaison between local government and the business community. Our mission is to enhance the quality of life in hancock county through the attraction and retention of quality jobs and promotion of a diversified tax base.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$202,074$202,438▲ $364
Cash and Non-Interest-Bearing Accounts$-2,448$20,140▲ $22,588
Land, Buildings, and Equipment, Net$5,018$3,398▼ $1,620
Total Assets$204,644$225,976▲ $21,332
Liabilities
Other Liabilities$2,828$1,716▼ $1,112
Total Liabilities$2,828$1,716▼ $1,112
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$201,816$224,260▲ $22,444
Total Net Assets Fund Balance$201,816$224,260▲ $22,444
Total Liabilities and Net Assets / Fund Balance$204,644$225,976▲ $21,332

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,398$26,085$29,483
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Randall SorrellExecutive DiFT$90,000$4,500$94,500

Board Members and Trustees

NameTitle
-President
-Trustee
-Secretary
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$250,950
Program Service Revenue
$4,676
Investment Income
$353
Other Revenue
$2,211
All Other Contributions
$122,000
Change in Net Assets
$22,444
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$176,860
Other Expenses$58,886
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-$94,500-$94,500
Other Salaries and Wages-$46,868-$46,868
Other Employee Benefits-$25,251-$25,251
Occupancy-$16,112-$16,112
Payroll Taxes-$10,241-$10,241
Advertising$7,275--$7,275
Conferences and Meetings$6,693--$6,693
Office Expenses-$6,687-$6,687
Travel$2,535--$2,535
Fees for Services Accounting-$2,337-$2,337
Information Technology-$1,702-$1,702
Insurance-$1,639-$1,639
Depreciation Depletion-$1,620-$1,620
Fees for Services Other-$350-$350
Other Expenses$1,524$166-$166
All Other Expenses-$81-$81
Total Functional Expenses$27,936$207,810$0$235,746
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease Payable$1,606
Payroll Taxes$110
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, Page 6, Part VI, Line 11B

“Reviewed by executive director prior to signature”

Form 990, Page 6, Part VI, Line 19

“Annual reports are available on the website”

Filing and Contact Details

Filer

Filer Name
Council for Economic Development
EIN
35-1654127
Phone
3174777241
Address
ONE COURTHOUSE PLAZA, GREENFIELD, IN 46140
Doing Business As
Hancock Econ Development Council

Signing Officer

Name
Randall Sorrell
Title
Executive Director
Phone
3174777241
Signed
2020-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Randall Sorrell
Formed
1985
Legal Domicile
In
Voting Board Members
27
Independent Board Members
27
Employees
3

Preparer

Firm
Sprinkle CPA LLC
Address
32 S STATE STREET, GREENFIELD, IN 46140-7285
Preparer
Susan E Connett CPA
Phone
3174771040
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

“Hancock econ development council”

FORM 990 - ORGANIZATION'S MISSION

“To promote economic development in hancock county by providing site assistance, cost of doing business analysis, and economic impact modeling to site location consultants, the corporate real estate community, and individual businesses. We serve as a liaison between local government and the business community. Our mission is to enhance the quality of life in hancock county through the attraction and retention of quality jobs and promotion of a diversified tax base.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt26TRUSTEE
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO PROMOTE ECONOMIC DEVELOPMENT IN HANCOCK COUNTY BY PROVIDING SITE ASSISTANCE, COST OF DOING BUSINESS ANALYSIS, AND ECONOMIC IMPACT MODELING TO SITE LOCATION CONSULTANTS, THE CORPORATE REAL ESTATE COMMUNITY, AND INDIVIDUAL BUSINESSES. WE SERVE AS A LIAISON BETWEEN LOCAL GOVERNMENT AND THE BUSINESS COMMUNITY. OUR MISSION IS TO ENHANCE THE QUALITY OF LIFE IN HANCOCK COUNTY THROUGH THE ATTRACTION AND RETENTION OF QUALITY JOBS AND PROMOTION OF A DIVERSIFIED TAX BASE.
IRS990/MoreThan5000KToIndividualsInd0false
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IRS990/NetAssetsOrFundBalancesBOYAmt0201816
IRS990/NetAssetsOrFundBalancesEOYAmt0224260
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IRS990/OtherExpensesGrp/Desc0REGIONAL DUES
IRS990/OtherExpensesGrp/Desc1PUBLIC RELATIONS
IRS990/OtherExpensesGrp/Desc2MOVING EXPENSES
IRS990/OtherExpensesGrp/Desc3BANK SERVICE CHARGES
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HANCOCK ECON DEVELOPMENT COUNCIL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO PROMOTE ECONOMIC DEVELOPMENT IN HANCOCK COUNTY BY PROVIDING SITE ASSISTANCE, COST OF DOING BUSINESS ANALYSIS, AND ECONOMIC IMPACT MODELING TO SITE LOCATION CONSULTANTS, THE CORPORATE REAL ESTATE COMMUNITY, AND INDIVIDUAL BUSINESSES. WE SERVE AS A LIAISON BETWEEN LOCAL GOVERNMENT AND THE BUSINESS COMMUNITY. OUR MISSION IS TO ENHANCE THE QUALITY OF LIFE IN HANCOCK COUNTY THROUGH THE ATTRACTION AND RETENTION OF QUALITY JOBS AND PROMOTION OF A DIVERSIFIED TAX BASE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEWED BY EXECUTIVE DIRECTOR PRIOR TO SIGNATURE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUAL REPORTS ARE AVAILABLE ON THE WEBSITE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$225,976
Liabilities
$1,716
Net assets
$224,260
Revenue
$258,190
Expenses
$235,746
Net income
$22,444
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.89$0.01$3.88$6.39$5.02$1.37
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.98$0.03$1.95$2.82$3.35$0.53
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.50$0.03$2.47$8.04$7.89$0.15
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.35$5.03$2.32$2.76$2.68$0.08
2019Detailed filing. Detailed filing data is available for this year.$2.26$0.02$2.24$2.58$2.36$0.22
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.05$0.03$2.02$2.47$2.77$0.30
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.41$0.09$2.32$2.30$2.13$0.18
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.24$0.09$2.14$2.53$2.02$0.51
2015Detailed filing. Detailed filing data is available for this year.$1.68$0.05$1.64$2.27$1.93$0.34
2014Detailed filing. Detailed filing data is available for this year.$1.30$0.00$1.30$5.00$4.96$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.27$0.03$1.24$1.83$1.66$0.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$0.03$1.07$1.97$1.81$0.16