Civic Intelligence

Caroline Economic Development Corporation

990 • Fiscal year 2017 • EIN 52-0982021

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 05, 2018

Organization Profilewww.carolinebusiness.com
10219 River Landing RoadDenton, MD 21629

(410) 479-2730

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$50,997

Up $15,205 (+42%) from 2016

Net Assets

Up

$21,670

Up $4,136 (+24%) from 2016

Liabilities

Up

$29,327

Up $11,069 (+61%) from 2016

Revenue And Expenses

Revenue

Down

$288,418

Down $56,640 (-16%) from 2016

Expenses

Down

$284,282

Down $59,605 (-17%) from 2016

Net Income

Up

$4,136

Up $2,965 (+253%) from 2016

Historical Trend

Balance Sheet Trend

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

$150K$100K$50K$0-$50KAssets 2010: $39,135Liabilities 2010: $26,5532010Assets 2011: $43,245Liabilities 2011: $33,3582011Assets 2012: $53,709Liabilities 2012: $39,739Net Assets 2012: $13,9702012Assets 2013: $99,313Liabilities 2013: $106,035Net Assets 2013: -$6,7222013Assets 2014: $95,921Liabilities 2014: $99,005Net Assets 2014: -$3,0842014Assets 2015: $59,031Liabilities 2015: $42,668Net Assets 2015: $16,3632015Assets 2016: $35,792Liabilities 2016: $18,258Net Assets 2016: $17,5342016Assets 2017: $50,997Liabilities 2017: $29,327Net Assets 2017: $21,6702017Assets 2018: $18,159Liabilities 2018: $3,983Net Assets 2018: $14,1762018Assets 2019: $36,617Liabilities 2019: $15,630Net Assets 2019: $20,9872019Assets 2020: $24,778Liabilities 2020: $1,496Net Assets 2020: $23,2822020Assets 2021: $57,313Liabilities 2021: $7,421Net Assets 2021: $49,8922021

Highlighted filing

2017

Assets$50,997
Liabilities$29,327
Net Assets$21,670
Open 2017 Filing

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2010: $276,938Expenses 2010: $303,484Net Income 2010: -$26,5462010Revenue 2011: $334,212Expenses 2011: $336,907Net Income 2011: -$2,6952011Revenue 2012: $353,622Expenses 2012: $349,540Net Income 2012: $4,0822012Revenue 2013: $430,510Expenses 2013: $451,201Net Income 2013: -$20,6912013Revenue 2014: $356,770Expenses 2014: $353,132Net Income 2014: $3,6382014Revenue 2015: $370,086Expenses 2015: $350,639Net Income 2015: $19,4472015Revenue 2016: $345,058Expenses 2016: $343,887Net Income 2016: $1,1712016Revenue 2017: $288,418Expenses 2017: $284,282Net Income 2017: $4,1362017Revenue 2018: $116,736Expenses 2018: $124,230Net Income 2018: -$7,4942018Revenue 2019: $138,323Expenses 2019: $131,512Net Income 2019: $6,8112019Revenue 2020: $122,325Expenses 2020: $120,030Net Income 2020: $2,2952020Revenue 2021: $139,231Expenses 2021: $112,621Net Income 2021: $26,6102021

Highlighted filing

2017

Revenue$288,418
Expenses$284,282
Net Income$4,136
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 5, 2018
Return Version
2016v3.0
Gross Receipts
$288,661
Mission and Program Overview

Mission

Caroline economic development corp. (cedc) exists to foster a diversified local economy that leads to business retention and attraction, job creation and workforce development, and a strong quality of life for the citizens of caroline county, maryland.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$26,550$36,908▲ $10,358
Pledges and Grants Receivable$4,215$7,557▲ $3,342
Accounts Receivable$4,569$4,913▲ $344
Prepaid Expenses and Deferred Charges-$1,485-
Land, Buildings, and Equipment, Net$458$134▼ $324
Total Assets$35,792$50,997▲ $15,205
Liabilities
Accounts Payable and Accrued Expenses$18,258$29,327▲ $11,069
Total Liabilities$18,258$29,327▲ $11,069
Net Assets / Fund Balance
Unrestricted Net Assets$17,534$21,670▲ $4,136
Total Net Assets Fund Balance$17,534$21,670▲ $4,136
Total Liabilities and Net Assets / Fund Balance$35,792$50,997▲ $15,205

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$134$2,567$2,701
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dave WhaleyPresident
John PhillipsVice President
Anthony CaseyMember
Dan FranklinMember
Don MulrineMember
Jay KoratMember
Jim LewisMember
Joe AndersonMember
Kurt FuchsMember
Mickey Fluhartymember
Rick NelsonMember
William QuickMember
Jeannette DeludeSecretary
Fred HubbardTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$243,152
Program Service Revenue
$42,129
Investment Income
$-243
Other Revenue
$3,380
All Other Contributions
$1,000
Change in Net Assets
$4,136
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$163,564
Other Expenses$120,718
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$134,206$14,912-$149,118
Advertising$59,691--$59,691
Payroll Taxes$13,001$1,445-$14,446
Occupancy$11,016$1,224-$12,240
Fees for Services Accounting-$6,160-$6,160
All Other Expenses$3,580$1,516-$5,096
Travel$4,935--$4,935
Office Expenses$2,801$311-$3,112
Insurance$961$1,922-$2,883
Other Expenses$2,378$264-$2,642
Conferences and Meetings$2,638--$2,638
Depreciation Depletion$81--$81
Total Functional Expenses$255,954$28,328$0$284,282
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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
Yes
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

“A copy of Form 990 is made available to the Board of Directors for review and comment.”

Form 990, Part VI, Section B, line 15A

“Executive Director's compensation is based on comparable salary data and reviewed and approved by the Board of Directors.”

Form 990, Part VI, Section C, line 19

“The Organization's governing documents and tax filings are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Caroline Economic Development
EIN
52-0982021
Phone
4104792730
Address
10219 River Landing Road, Denton, MD 21629

Signing Officer

Name
Ceres Bainbridge
Title
Executive Director
Phone
4104792730
Signed
2018-02-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ceres Bainbridge
Formed
1973
Legal Domicile
Md
Voting Board Members
14
Independent Board Members
14
Employees
5
Volunteers
0

Preparer

Firm
Accounting Strategies Group LLC
Address
PO Box 369, Preston, MD 21655
Preparer
Lisa K Durham CPA
Phone
4106731384
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

“Caroline Economic Development Coporation is exempt from federal income taxes under Internal Revenue Code Section 501(c)(4). In accordance with FASB ASC 740-10, Accounting for Uncertainty in Income Taxes, the Organization has assessed the likelihood that all tax positions are more likely than not to be sustained upon examination.”

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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02567
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02701
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Caroline Economic Development Coporation is exempt from federal income taxes under Internal Revenue Code Section 501(c)(4). In accordance with FASB ASC 740-10, Accounting for Uncertainty in Income Taxes, the Organization has assessed the likelihood that all tax positions are more likely than not to be sustained upon examination.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0134
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A copy of Form 990 is made available to the Board of Directors for review and comment.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Executive Director's compensation is based on comparable salary data and reviewed and approved by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organization's governing documents and tax filings are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt035792
IRS990/TotalAssetsEOYAmt050997
IRS990/TotalAssetsGrp/BOYAmt035792
IRS990/TotalAssetsGrp/EOYAmt050997
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0243152
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt028328
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0255954
IRS990/TotalFunctionalExpensesGrp/TotalAmt0284282
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt018258
IRS990/TotalLiabilitiesEOYAmt029327
IRS990/TotalLiabilitiesGrp/BOYAmt018258
IRS990/TotalLiabilitiesGrp/EOYAmt029327
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt017534
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt021670
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0255954
IRS990/TotalProgramServiceRevenueAmt042129
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt045266
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0288418
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt035792
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt050997
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt04935
IRS990/TravelGrp/TotalAmt04935
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt017534
IRS990/UnrestrictedNetAssetsGrp/EOYAmt021670
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt010219 River Landing Road
IRS990/USAddress/CityNm0Denton
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021629
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0www.carolinebusiness.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Ceres Bainbridge
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum04104792730
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-02-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Caroline Economic Development
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Corporation
ReturnHeader/Filer/BusinessNameControlTxt0CARO
ReturnHeader/Filer/EIN0520982021
ReturnHeader/Filer/PhoneNum04104792730
ReturnHeader/Filer/USAddress/AddressLine1Txt010219 River Landing Road
ReturnHeader/Filer/USAddress/CityNm0Denton
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021629
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0122B5A24A1368F9B770D233C30485F1FAFBA0968
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.92.151.197
ReturnHeader/FilingSecurityInformation/IPDt02018-02-05
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm012:48:38
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0263654652
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Accounting Strategies Group LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO Box 369
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Preston
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021655
ReturnHeader/PreparerPersonGrp/PhoneNum04106731384

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$50,997
Liabilities
$29,327
Net assets
$21,670
Revenue
$288,418
Expenses
$284,282
Net income
$4,136
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.57$0.07$0.50$1.39$1.13$0.27
2020Detailed filing. Detailed filing data is available for this year.$0.25$0.01$0.23$1.22$1.20$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.37$0.16$0.21$1.38$1.32$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.18$0.04$0.14$1.17$1.24$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.51$0.29$0.22$2.88$2.84$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.36$0.18$0.18$3.45$3.44$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.59$0.43$0.16$3.70$3.51$0.19
2014Detailed filing. Detailed filing data is available for this year.$0.96$0.99$0.03$3.57$3.53$0.04
2013Summary only. Only limited summary data is available for this year.$0.99$1.06$0.07$4.31$4.51$0.21
2012Summary only. Only limited summary data is available for this year.$0.54$0.40$0.14$3.54$3.50$0.04
2011Summary only. Only limited summary data is available for this year.$0.43$0.33$3.34$3.37$0.03
2010Summary only. Only limited summary data is available for this year.$0.39$0.27$2.77$3.03$0.27