Civic Intelligence

Alleghany County Economic Development Corporation

990 • Fiscal year 2016 • EIN 56-2074735

Jan 01, 2016 to Dec 31, 2016 • Filed on May 11, 2017

Organization Profile
115 Atwood StreetSparta, NC 28675

(336) 372-1525

Siviq Scores

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

Liabilities / Assets

40th percentile

0.12x

Higher debt load relative to assets than 40% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

99th percentile

65.91x

Higher debt load relative to revenue than 99% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Source year 2016

Net Margin

96th percentile

81%

Higher net margin than 96% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

31st percentile

$0

Higher top officer pay than 31% of similar nonprofits.

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

2016 filings • NTEE S • $1M-$5M nonprofits • Source year 2016

Asset Growth

44th percentile

0.2%

Faster asset growth than 44% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

41st percentile

-0.3%

Faster revenue growth than 41% of similar nonprofits.

2016 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$1,545,346

Up $2,377 (+0.2%) from 2015

Net Assets

Up

$1,352,479

Up $2,376 (+0.2%) from 2015

Liabilities

Up

$192,867

Up $1 (+0.0%) from 2015

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin96th percentile

Revenue

Down

$2,926

Down $8 (-0.3%) from 2015

Expenses

Flat

$550

Flat from 2015

Net Income

Down

$2,376

Down $8 (-0.3%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,559,609Liabilities 2010: $105,439Net Assets 2010: $1,454,1702010Assets 2011: $1,624,150Liabilities 2011: $172,867Net Assets 2011: $1,451,2832011Assets 2012: $1,542,093Liabilities 2012: $192,866Net Assets 2012: $1,349,2272012Assets 2013: $1,541,039Liabilities 2013: $192,866Net Assets 2013: $1,348,1732013Assets 2014: $1,540,585Liabilities 2014: $192,866Net Assets 2014: $1,347,7192014Assets 2015: $1,542,969Liabilities 2015: $192,866Net Assets 2015: $1,350,1032015Assets 2016: $1,545,346Liabilities 2016: $192,867Net Assets 2016: $1,352,4792016Assets 2017: $1,547,698Liabilities 2017: $192,868Net Assets 2017: $1,354,8302017Assets 2018: $1,550,192Liabilities 2018: $192,868Net Assets 2018: $1,357,3242018Assets 2019: $109,183Liabilities 2019: $0Net Assets 2019: $109,1832019

Highlighted filing

2016

Assets$1,545,346
Liabilities$192,867
Net Assets$1,352,479
Open 2016 Filing

Operations Trend

Revenue Growth41st percentile

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

$150K$100K$50K$0-$50KExpenses 2010: $101,9112010Expenses 2011: $6272011Expenses 2012: $105,6252012Revenue 2013: $2,946Expenses 2013: $4,000Net Income 2013: -$1,0542013Revenue 2014: $47Expenses 2014: $500Net Income 2014: -$4532014Revenue 2015: $2,934Expenses 2015: $550Net Income 2015: $2,3842015Revenue 2016: $2,926Expenses 2016: $550Net Income 2016: $2,3762016Revenue 2017: $2,926Expenses 2017: $575Net Income 2017: $2,3512017Revenue 2018: $2,969Expenses 2018: $475Net Income 2018: $2,4942018Revenue 2019: $2,985Expenses 2019: $505Net Income 2019: $2,4802019

Highlighted filing

2016

Revenue$2,926
Expenses$550
Net Income$2,376
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 11, 2017
Return Version
2016v3.0
Gross Receipts
$2,926
Mission and Program Overview

Mission

Promoting economic development within allewghany county

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,443,489$1,443,489→ $0
Cash and Non-Interest-Bearing Accounts$63,259$65,636▲ $2,377
Other Notes and Loans Receivable, Net$36,221$36,221→ $0
Total Assets$1,542,969$1,545,346▲ $2,377
Liabilities
Mortgage Notes Payable Secured by Investment Property$192,866$192,867▲ $1
Total Liabilities$192,866$192,867▲ $1
Net Assets / Fund Balance
Unrestricted Net Assets$1,350,103$1,352,479▲ $2,376
Total Net Assets Fund Balance$1,350,103$1,352,479▲ $2,376
Total Liabilities and Net Assets / Fund Balance$1,542,969$1,545,346▲ $2,377

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,443,489--
Compensation and Service Providers
Top Officer Pay31st percentile

Board Members and Trustees

NameTitle
Bryan EdwardsDirector
Dale CavenyDirector
Dennis GambillDirector
Don AdamsDirector
Jim HalseyDirector
John MillerDirector
Kaye RoyalDirector
Martha McknightDirector
Mitch FranklinDirector
Tom DouglasDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$2,900
Program Service Revenue
$0
Investment Income
$26
Other Revenue
$0
Change in Net Assets
$2,376
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$550
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$450-$450
Insurance-$100-$100
Total Functional Expenses$0$550$0$550
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
In-house lobbying only
Yes
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
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 governing body review Part VI line 11

“The board is appointed by the elected governmental officials in alleghany county and the town of sparta to oversee and manage the economic development funds and project in alleghany county. They meet as needed and develop policies and review project development for the organization.”

Governing documents etc available to public Part VI line 19

“The tax returns and all appropriate records and documents are available for public inspention upon request. The tax return is available on guidestar.com on the internet, the accountants office and the organizations business office.”

Filing and Contact Details

Filer

Filer Name
Alleghany County Economic Developme
EIN
56-2074735
Address
115 ATWOOD STREET, Sparta, NC 28675

Signing Officer

Name
Bryan Edwards
Title
Director
Phone
3363721525
Signed
2017-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Don Adams
Formed
1998
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
David M Osborne Ea
Address
PO BOX 368, SPARTA, NC 28675
Preparer
David M Osborne
Phone
3363725578
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“There had been interest paid on a loan receivable that had not been posted as other income as well as the principalan adjustment was made to the fund balance to show this additional income reduced in prior years in the amount of 3191 that was actually a reduction in the loan receivable.”

Raw XML Appendix309 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD IS APPOINTED BY THE ELECTED GOVERNMENTAL OFFICIALS IN ALLEGHANY COUNTY AND THE TOWN OF SPARTA TO OVERSEE AND MANAGE THE ECONOMIC DEVELOPMENT FUNDS AND PROJECT IN ALLEGHANY COUNTY. THEY MEET AS NEEDED AND DEVELOP POLICIES AND REVIEW PROJECT DEVELOPMENT FOR THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TAX RETURNS AND ALL APPROPRIATE RECORDS AND DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPENTION UPON REQUEST. THE TAX RETURN IS AVAILABLE ON GUIDESTAR.COM ON THE INTERNET, THE ACCOUNTANTS OFFICE AND THE ORGANIZATIONS BUSINESS OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE HAD BEEN INTEREST PAID ON A LOAN RECEIVABLE THAT HAD NOT BEEN POSTED AS OTHER INCOME AS WELL AS THE PRINCIPALAN ADJUSTMENT WAS MADE TO THE FUND BALANCE TO SHOW THIS ADDITIONAL INCOME REDUCED IN PRIOR YEARS IN THE AMOUNT OF 3191 THAT WAS ACTUALLY A REDUCTION IN THE LOAN RECEIVABLE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Explanation of other changes in net assets or fund balances Part XI line 9
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ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02017-05-14
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt08.41.115.109
ReturnHeader/FilingSecurityInformation/IPDt02017-05-14
ReturnHeader/FilingSecurityInformation/IPTm020:23:30
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561923084
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DAVID M OSBORNE EA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 368
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SPARTA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028675
ReturnHeader/PreparerPersonGrp/PhoneNum03363725578
ReturnHeader/PreparerPersonGrp/PreparationDt02017-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID M OSBORNE
ReturnHeader/ReturnTs02017-05-11T15:19:57-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,545,346
Liabilities
$192,867
Net assets
$1,352,479
Revenue
$2,926
Expenses
$550
Net income
$2,376
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2019Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.11$0.00$0.00$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.55$0.19$1.36$0.00$0.00$0.00
2017Detailed filing. Detailed filing data is available for this year.$1.55$0.19$1.35$0.00$0.00$0.00
2016Detailed filing. Detailed filing data is available for this year.$1.55$0.19$1.35$0.00$0.00$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.54$0.19$1.35$0.00$0.00$0.00
2014Detailed filing. Detailed filing data is available for this year.$1.54$0.19$1.35$0.00$0.00$0.00
2013Detailed filing. Detailed filing data is available for this year.$1.54$0.19$1.35$0.00$0.00$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.54$0.19$1.35$0.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.62$0.17$1.45$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.56$0.11$1.45$0.10