Civic Intelligence

Central Region Innovation and Commercialization Center Inc.

990 • Fiscal year 2020 • EIN 37-1441604

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 10, 2020

Organization ProfileCENTRALREGIONICC.COM
2413 Nashville Road B8Bowling Green, KY 42101

(270) 901-3490

Siviq Scores

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

Liabilities / Assets

68th percentile

0.03x

Higher debt load relative to assets than 68% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

80th percentile

0.15x

Higher debt load relative to revenue than 80% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

7th percentile

-109%

Higher net margin than 7% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

91st percentile

$48,112

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 118.1% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

19th percentile

-20%

Faster asset growth than 19% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

18th percentile

-58%

Faster revenue growth than 18% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets68th percentile

Assets

Down

$180,452

Down $45,044 (-20%) from 2019

Net Assets

Down

$174,478

Down $44,308 (-20%) from 2019

Liabilities

Down

$5,974

Down $736 (-11%) from 2019

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin7th percentile

Revenue

Down

$40,750

Down $56,471 (-58%) from 2019

Expenses

Down

$85,058

Down $15,090 (-15%) from 2019

Net Income

Down

-$44,308

Down $41,381 (-1414%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

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

$300K$200K$100K$0-$100KAssets 2012: $152,517Liabilities 2012: -$17,937Net Assets 2012: $170,4542012Assets 2013: $12,362Liabilities 2013: -$6,366Net Assets 2013: $18,7282013Assets 2014: $194,365Liabilities 2014: $9,567Net Assets 2014: $184,7982014Assets 2015: $207,644Liabilities 2015: $7,736Net Assets 2015: $199,9082015Assets 2016: $247,995Liabilities 2016: $8,884Net Assets 2016: $239,1112016Assets 2017: $230,973Liabilities 2017: $7,943Net Assets 2017: $223,0302017Assets 2018: $229,364Liabilities 2018: $7,801Net Assets 2018: $221,5632018Assets 2019: $225,496Liabilities 2019: $6,710Net Assets 2019: $218,7862019Assets 2020: $180,452Liabilities 2020: $5,974Net Assets 2020: $174,4782020Assets 2021: $113,555Liabilities 2021: $7,564Net Assets 2021: $105,9912021Assets 2022: $97,349Liabilities 2022: $7,522Net Assets 2022: $89,8272022Assets 2023: $166,679Liabilities 2023: $23,903Net Assets 2023: $142,7762023Assets 2024: $92,518Liabilities 2024: $28,885Net Assets 2024: $63,6332024

Highlighted filing

2020

Assets$180,452
Liabilities$5,974
Net Assets$174,478
Open 2020 Filing

Operations Trend

Revenue Growth18th percentile

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

$600K$400K$200K$0-$200KExpenses 2012: $311,8352012Expenses 2013: $361,5872013Revenue 2014: $314,586Expenses 2014: $298,183Net Income 2014: $16,4032014Revenue 2015: $311,703Expenses 2015: $295,444Net Income 2015: $16,2592015Revenue 2016: $353,522Expenses 2016: $312,786Net Income 2016: $40,7362016Revenue 2017: $257,338Expenses 2017: $273,419Net Income 2017: -$16,0812017Revenue 2018: $261,261Expenses 2018: $262,728Net Income 2018: -$1,4672018Revenue 2019: $97,221Expenses 2019: $100,148Net Income 2019: -$2,9272019Revenue 2020: $40,750Expenses 2020: $85,058Net Income 2020: -$44,3082020Revenue 2021: $190,768Expenses 2021: $259,255Net Income 2021: -$68,4872021Revenue 2022: $367,467Expenses 2022: $383,631Net Income 2022: -$16,1642022Revenue 2023: $450,611Expenses 2023: $397,662Net Income 2023: $52,9492023Revenue 2024: $297,039Expenses 2024: $376,202Net Income 2024: -$79,1632024

Highlighted filing

2020

Revenue$40,750
Expenses$85,058
Net Income-$44,308
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 10, 2020
Return Version
2019v5.1
Gross Receipts
$40,750
Mission and Program Overview

Mission

To facilitate the creation, growth, recruitment and retention of science and technology/scalable companies within the central region of kentucky.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$225,496$180,452▼ $45,044
Rtn Earn Endowment Incm Other Fnds$218,786$174,478▼ $44,308
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$225,496$180,452▼ $45,044
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$6,710$5,974▼ $736
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$6,710$5,974▼ $736
Net Assets / Fund Balance
Total Net Assets Fund Balance$218,786$174,478▼ $44,308
Total Liabilities and Net Assets / Fund Balance$225,496$180,452▼ $45,044
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
William J HookExecutive DirectorFT$36,915$11,197$48,112

Board Members and Trustees

NameTitle
Blaine FerrellPresident
Jeremy JacobsBoard Member
John HigginsBoard Member
D Gaines PennSecretary
Richard CallahanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$40,750
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$3,250
Change in Net Assets
$-44,308
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$61,754
Other Expenses$23,304
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$48,106--$48,106
Other Salaries and Wages$13,648--$13,648
Other Expenses$13,422--$13,422
Insurance$3,843--$3,843
Office Expenses$106--$106
Total Functional Expenses$85,058$0$0$85,058
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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
Yes
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

“Process to review form 990 --------------------------- the organization's form 990 is prepared by an outside accounting firm. The executive director reviews the completed form 990 and the board is provided a copy of the return prior to it being filed.”

Form 990, Part VI, Section B, Line 15A & 15B

“Process for establishing compensation for top management officials ------------------------------------------------------------------- compensation paid to the top management official, william j. Hook, is paid by western kentucky university. Cricc reimburses wku for a portion of his salary, based on a contractual agreement.”

Form 990, Part VI, Section C, Line 19

“Making documents available to the public ------------------------------------------ the organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Central Region Innovation and
EIN
37-1441604
In Care Of
% LOIS HALL
Phone
2709013490
Address
2413 NASHVILLE ROAD B8, BOWLING GREEN, KY 42101

Signing Officer

Name
William J Hook
Title
Executive Director
Phone
2709013490
Signed
2020-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William J Hook
Formed
2002
Legal Domicile
Ky
Voting Board Members
5
Independent Board Members
5
Employees
1
Volunteers
5

Preparer

Firm
Bkd Llp
Address
360 E 8TH AVE STE 201 PO BOX 1196, BOWLING GREEN, KY 42102-1196
Preparer
Jessica Freeman
Phone
2707810111
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4A

“Program service accomplishment ----------------------- these services are designed to grow, recruit, and retain knowledge based companies in our region, ultimately creating jobs and opportunities. In fiscal year 2020, we engaged approximately 15 new companies and supported the expansion of many of our existing client companies. We estimate that approximately 200 new full and part time jobs were created by our client companies. We also estimate the average annual salary for full-time jobs created is between $40,000 and $50,000. Our client companies raised an estimated $3m in private equity funding and total annual revenues is estimated to exceed $100m.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/TotalSupportAmt01010092
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
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IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROGRAM SERVICE ACCOMPLISHMENT ----------------------- THESE SERVICES ARE DESIGNED TO GROW, RECRUIT, AND RETAIN KNOWLEDGE BASED COMPANIES IN OUR REGION, ULTIMATELY CREATING JOBS AND OPPORTUNITIES. IN FISCAL YEAR 2020, WE ENGAGED APPROXIMATELY 15 NEW COMPANIES AND SUPPORTED THE EXPANSION OF MANY OF OUR EXISTING CLIENT COMPANIES. WE ESTIMATE THAT APPROXIMATELY 200 NEW FULL AND PART TIME JOBS WERE CREATED BY OUR CLIENT COMPANIES. WE ALSO ESTIMATE THE AVERAGE ANNUAL SALARY FOR FULL-TIME JOBS CREATED IS BETWEEN $40,000 AND $50,000. OUR CLIENT COMPANIES RAISED AN ESTIMATED $3M IN PRIVATE EQUITY FUNDING AND TOTAL ANNUAL REVENUES IS ESTIMATED TO EXCEED $100M.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PROCESS TO REVIEW FORM 990 --------------------------- THE ORGANIZATION'S FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM. THE EXECUTIVE DIRECTOR REVIEWS THE COMPLETED FORM 990 AND THE BOARD IS PROVIDED A COPY OF THE RETURN PRIOR TO IT BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PROCESS FOR ESTABLISHING COMPENSATION FOR TOP MANAGEMENT OFFICIALS ------------------------------------------------------------------- COMPENSATION PAID TO THE TOP MANAGEMENT OFFICIAL, WILLIAM J. HOOK, IS PAID BY WESTERN KENTUCKY UNIVERSITY. CRICC REIMBURSES WKU FOR A PORTION OF HIS SALARY, BASED ON A CONTRACTUAL AGREEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MAKING DOCUMENTS AVAILABLE TO THE PUBLIC ------------------------------------------ THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A & 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02413 NASHVILLE ROAD B8
IRS990/USAddress/CityNm0BOWLING GREEN
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd042101
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IRS990/WebsiteAddressTxt0HTTPS://CENTRALREGIONICC.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM J HOOK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02709013490
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CENTRAL REGION INNOVATION AND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COMMERCIALIZATION CENTER INC

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$180,452
Liabilities
$5,974
Net assets
$174,478
Revenue
$40,750
Expenses
$85,058
Net income
-$44,308
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.93$0.29$0.64$2.97$3.76$0.79
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.67$0.24$1.43$4.51$3.98$0.53
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.97$0.08$0.90$3.67$3.84$0.16
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$0.08$1.06$1.91$2.59$0.68
2020Detailed filing. Detailed filing data is available for this year.$1.80$0.06$1.74$0.41$0.85$0.44
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.25$0.07$2.19$0.97$1.00$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.29$0.08$2.22$2.61$2.63$0.01
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.31$0.08$2.23$2.57$2.73$0.16
2016Detailed filing. Detailed filing data is available for this year.$2.48$0.09$2.39$3.54$3.13$0.41
2015Detailed filing. Detailed filing data is available for this year.$2.08$0.08$2.00$3.12$2.95$0.16
2014Detailed filing. Detailed filing data is available for this year.$1.94$0.10$1.85$3.15$2.98$0.16
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.12$0.06$0.19$3.62
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.53$0.18$1.70$3.12