Civic Intelligence

Economic Futures Group

990 • Fiscal year 2019 • EIN 57-1133433

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 21, 2020

Organization ProfileWWW.ECONOMICFUTURESGROUP.COM
PO Box 1636Spartanburg, SC 29304

(864) 594-5000

Siviq Scores

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

Liabilities / Assets

24th percentile

0.03x

Higher debt load relative to assets than 24% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

27th percentile

0.05x

Higher debt load relative to revenue than 27% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

92nd percentile

28%

Higher net margin than 92% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

68th percentile

$192,031

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 9.6% of source-year revenue.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

75th percentile

15%

Faster asset growth than 75% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

66th percentile

8.0%

Faster revenue growth than 66% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets24th percentile

Assets

Up

$3,425,991

Up $450,727 (+15%) from 2018

Net Assets

Up

$3,335,286

Up $549,020 (+20%) from 2018

Liabilities

Down

$90,705

Down $98,293 (-52%) from 2018

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin92nd percentile

Revenue

Up

$2,007,440

Up $148,643 (+8.0%) from 2018

Expenses

Down

$1,452,422

Down $170,026 (-10%) from 2018

Net Income

Up

$555,018

Up $318,669 (+135%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth75th percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $441,588Liabilities 2011: $177,695Net Assets 2011: $263,8932011Assets 2012: $636,362Liabilities 2012: $120,124Net Assets 2012: $516,2382012Assets 2013: $684,298Liabilities 2013: $133,736Net Assets 2013: $550,5622013Assets 2014: $930,300Liabilities 2014: $120,823Net Assets 2014: $809,4772014Assets 2015: $854,528Liabilities 2015: $96,277Net Assets 2015: $758,2512015Assets 2017: $2,700,641Liabilities 2017: $146,769Net Assets 2017: $2,553,8722017Assets 2018: $2,975,264Liabilities 2018: $188,998Net Assets 2018: $2,786,2662018Assets 2019: $3,425,991Liabilities 2019: $90,705Net Assets 2019: $3,335,2862019Assets 2020: $3,776,159Liabilities 2020: $150,999Net Assets 2020: $3,625,1602020Assets 2021: $4,143,357Liabilities 2021: $87,939Net Assets 2021: $4,055,4182021Assets 2022: $4,397,818Liabilities 2022: $92,219Net Assets 2022: $4,305,5992022Assets 2023: $3,293,301Liabilities 2023: $237,410Net Assets 2023: $3,055,8912023Assets 2024: $3,615,772Liabilities 2024: $1,833,145Net Assets 2024: $1,782,6272024Assets 2025: $3,677,374Liabilities 2025: $1,784,620Net Assets 2025: $1,892,7542025

Highlighted filing

2019

Assets$3,425,991
Liabilities$90,705
Net Assets$3,335,286
Open 2019 Filing

Operations Trend

Revenue Growth66th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2011: $811,208Expenses 2011: $979,603Net Income 2011: -$168,3952011Revenue 2012: $1,144,725Expenses 2012: $892,380Net Income 2012: $252,3452012Revenue 2013: $799,334Expenses 2013: $765,010Net Income 2013: $34,3242013Revenue 2014: $1,017,027Expenses 2014: $758,111Net Income 2014: $258,9162014Revenue 2015: $464,618Expenses 2015: $515,844Net Income 2015: -$51,2262015Revenue 2017: $2,058,611Expenses 2017: $1,140,260Net Income 2017: $918,3512017Revenue 2018: $1,858,797Expenses 2018: $1,622,448Net Income 2018: $236,3492018Revenue 2019: $2,007,440Expenses 2019: $1,452,422Net Income 2019: $555,0182019Revenue 2020: $1,630,922Expenses 2020: $1,341,049Net Income 2020: $289,8732020Revenue 2021: $1,796,016Expenses 2021: $1,365,760Net Income 2021: $430,2562021Revenue 2022: $2,341,919Expenses 2022: $2,091,738Net Income 2022: $250,1812022Revenue 2023: $1,840,096Expenses 2023: $3,089,804Net Income 2023: -$1,249,7082023Revenue 2024: $1,482,904Expenses 2024: $1,893,063Net Income 2024: -$410,1592024Revenue 2025: $1,653,660Expenses 2025: $1,543,534Net Income 2025: $110,1262025

Highlighted filing

2019

Revenue$2,007,440
Expenses$1,452,422
Net Income$555,018
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 21, 2020
Return Version
2018v3.1
Gross Receipts
$2,007,440
Mission and Program Overview

Mission

To increase and enhance economic development in spartanburg county

To increase and enhance economic development in spartanburg county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,180,157$2,642,084▲ $461,927
Savings and Temporary Cash Investments$749,357$766,570▲ $17,213
Accounts Receivable$45,750$12,500▼ $33,250
Land, Buildings, and Equipment, Net$0--
Total Assets$2,975,264$3,425,991▲ $450,727
Other Assets Total$0$4,837▲ $4,837
Liabilities
Deferred Revenue$81,216$85,832▲ $4,616
Accounts Payable and Accrued Expenses$107,782$4,873▼ $102,909
Total Liabilities$188,998$90,705▼ $98,293
Net Assets / Fund Balance
Unrestricted Net Assets$2,104,214$2,510,350▲ $406,136
Temporarily Rstr Net Assets$682,052$824,936▲ $142,884
Total Net Assets Fund Balance$2,786,266$3,335,286▲ $549,020
Total Liabilities and Net Assets / Fund Balance$2,975,264$3,425,991▲ $450,727
Compensation and Service Providers
Top Officer Pay68th percentile

Board Members and Trustees

NameTitle
Ethan BurroughsChairman
Carter SmithExecutive Vice President
Brendan KellyBoard Member
Chris StoryBoard Member
Cole AlversonBoard Member
Darryl OwingsBoard Member
David N EdwardsBoard Member
Dean AndersonBoard Member
H David BrittBoard Member
Hank MculloughBoard Member
Henry Giles JrBoard Member
Jeffrey HortonBoard Member
John EasterlingBoard Member
John MontgomeryBoard Member
Josh JonesBoard Member
Junie WhiteBoard Member
Karen CalhounBoard Member
Kimberly JolleyBoard Member
Latokia B TriggBoard Member
Mike ForresterBoard Member
Nayef H SamhatBoard Member
Sandy MartinBoard Member
Todd HorneBoard Member
Wes LehrerBoard Member
Allen SmithChief Executive Officer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,989,557
Program Service Revenue
$0
Investment Income
$17,883
Other Revenue
$0
All Other Contributions
$462,000
Change in Net Assets
$555,018

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,007,440
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,007,440
Total Revenue per Form 990
$2,007,440
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,038,842
Salaries, Compensation, and Employee Benefits$413,580
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$192,031--$192,031
Other Salaries and Wages$160,926--$160,926
Fees for Services Management-$87,716-$87,716
Advertising$51,051$4,050-$55,101
Insurance-$46,702-$46,702
Occupancy-$44,000-$44,000
Pension Plan Contributions$38,518--$38,518
Travel$24,843$9,789-$34,632
Conferences and Meetings$20,244$3,376-$23,620
Payroll Taxes$21,042--$21,042
Other Expenses$11,187$29,401-$11,187
All Other Expenses$1,691$9,056-$10,747
Other Employee Benefits$1,063--$1,063
Office Expenses-$42-$42
Total Functional Expenses$1,023,189$429,233$0$1,452,422

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,458,423
Total Expenses per Audited Statements$1,458,423
Total Expenses per Form 990$1,458,423
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Audit committee
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

“The board will review form 990 prior to filing return during board meeting.”

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

“The organization reviews compensation of management with finance committee and compares to similar organizations in the area.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Economic Futures Group
EIN
57-1133433
Phone
8645945000
Address
PO BOX 1636, SPARTANBURG, SC 29304

Signing Officer

Name
Allen Smith
Title
CEO
Phone
8645945000
Signed
2020-01-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Allen Smith
Formed
2002
Legal Domicile
Sc
Voting Board Members
24
Independent Board Members
24
Employees
0
Volunteers
0

Preparer

Firm
Gosnell Menard Robinson Infante Cpas Pa
Address
PO BOX 1726, SPARTANBURG, SC 29304
Preparer
John W Robinson Jr
Phone
8645739211
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“ROUNDING 2.”

FORM 990, PART XII, LINE 2C:

“No change from prior year.”

Raw XML AppendixShowing 400 of 550 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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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt22BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt23BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt24EXECUTIVE VICE PRESIDENT
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr02002
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt024
IRS990/GovernmentGrantsAmt01342574
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IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt02007440
IRS990/GroupReturnForAffiliatesInd00
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IRS990/IndoorTanningServicesInd00
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IRS990/LandBldgEquipCostOrOtherBssAmt00
IRS990/LegalDomicileStateCd0SC
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembershipDuesAmt0184983
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO INCREASE AND ENHANCE ECONOMIC DEVELOPMENT IN SPARTANBURG COUNTY
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt042
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IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc0PROFESSIONAL SERVICES
IRS990/OtherExpensesGrp/Desc1DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc2CORPORATE DEVELOPMENT
IRS990/OtherExpensesGrp/Desc3SUPPLIES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1140586
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt229401
IRS990/OtherExpensesGrp/ProgramServicesAmt0429058
IRS990/OtherExpensesGrp/ProgramServicesAmt171535
IRS990/OtherExpensesGrp/ProgramServicesAmt211187
IRS990/OtherExpensesGrp/TotalAmt0483573
IRS990/OtherExpensesGrp/TotalAmt1212121
IRS990/OtherExpensesGrp/TotalAmt229401
IRS990/OtherExpensesGrp/TotalAmt311187
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0160926
IRS990/OtherSalariesAndWagesGrp/TotalAmt0160926
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt021042
IRS990/PayrollTaxesGrp/TotalAmt021042
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt038518
IRS990/PensionPlanContributionsGrp/TotalAmt038518
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0ALLEN SMITH
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01854747
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IRS990/PYSalariesCompEmpBnftPaidAmt0634794
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01858797
IRS990/ReconcilationRevenueExpnssAmt0555018
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IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
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IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02007440
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IRS990ScheduleD/TotalRevenuePerForm990Amt02007440
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt06160
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CARTER SMITH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE VICE PRESIDENT

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$3,425,991
Liabilities
$90,705
Net assets
$3,335,286
Revenue
$2,007,440
Expenses
$1,452,422
Net income
$555,018
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.68$1.78$1.89$1.65$1.54$0.11
2024Detailed filing. Detailed filing data is available for this year.$3.62$1.83$1.78$1.48$1.89$0.41
2023Detailed filing. Detailed filing data is available for this year.$3.29$0.24$3.06$1.84$3.09$1.25
2022Detailed filing. Detailed filing data is available for this year.$4.40$0.09$4.31$2.34$2.09$0.25
2021Detailed filing. Detailed filing data is available for this year.$4.14$0.09$4.06$1.80$1.37$0.43
2020Detailed filing. Detailed filing data is available for this year.$3.78$0.15$3.63$1.63$1.34$0.29
2019Detailed filing. Detailed filing data is available for this year.$3.43$0.09$3.34$2.01$1.45$0.56
2018Detailed filing. Detailed filing data is available for this year.$2.98$0.19$2.79$1.86$1.62$0.24
2017Detailed filing. Detailed filing data is available for this year.$2.70$0.15$2.55$2.06$1.14$0.92
2015Summary only. Only limited summary data is available for this year.$0.85$0.10$0.76$0.46$0.52$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.93$0.12$0.81$1.02$0.76$0.26
2013Detailed filing. Detailed filing data is available for this year.$0.68$0.13$0.55$0.80$0.77$0.03
2012Summary only. Only limited summary data is available for this year.$0.64$0.12$0.52$1.14$0.89$0.25
2011Summary only. Only limited summary data is available for this year.$0.44$0.18$0.26$0.81$0.98$0.17