Civic Intelligence

Morgan County Economic Development Board Inc

990 • Fiscal year 2015 • EIN 58-1705685

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 02, 2016

PO Box 979Wartburg, TN 37887

(423) 346-3000

Siviq Scores

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

Liabilities / Assets

66th percentile

0.22x

Higher debt load relative to assets than 66% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

76th percentile

0.79x

Higher debt load relative to revenue than 76% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2015

Net Margin

8th percentile

-31%

Higher net margin than 8% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

72nd percentile

$39,450

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 7.7% of source-year revenue.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2015

Asset Growth

11th percentile

-9.9%

Faster asset growth than 11% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

90th percentile

48%

Faster revenue growth than 90% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$1,869,286

Down $204,477 (-9.9%) from 2014

Net Assets

Down

$1,464,947

Down $157,846 (-9.7%) from 2014

Liabilities

Down

$404,339

Down $46,631 (-10%) from 2014

Revenue

Up

$509,602

Up $166,030 (+48%) from 2014

Expenses

Up

$667,446

Up $399,027 (+149%) from 2014

Net Income

Down

-$157,844

Down $232,997 (-310%) from 2014

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2011: $2,060,345Liabilities 2011: $577,909Net Assets 2011: $1,482,4362011Assets 2012: $2,017,408Liabilities 2012: $537,395Net Assets 2012: $1,480,0132012Assets 2013: $2,042,650Liabilities 2013: $495,010Net Assets 2013: $1,547,6402013Assets 2014: $2,073,763Liabilities 2014: $450,970Net Assets 2014: $1,622,7932014Assets 2015: $1,869,286Liabilities 2015: $404,339Net Assets 2015: $1,464,9472015Assets 2016: $1,956,795Liabilities 2016: $355,281Net Assets 2016: $1,601,5142016Assets 2017: $2,974,384Liabilities 2017: $1,101,645Net Assets 2017: $1,872,7392017Assets 2018: $7,212,928Liabilities 2018: $4,117,417Net Assets 2018: $3,095,5112018Assets 2019: $7,897,974Liabilities 2019: $4,250,371Net Assets 2019: $3,647,6032019Assets 2020: $8,190,516Liabilities 2020: $4,318,428Net Assets 2020: $3,872,0882020Assets 2021: $8,524,921Liabilities 2021: $4,238,628Net Assets 2021: $4,286,2932021Assets 2022: $7,047,109Liabilities 2022: $2,720,403Net Assets 2022: $4,326,7062022Assets 2023: $6,806,877Liabilities 2023: $2,317,864Net Assets 2023: $4,489,0132023Assets 2024: $10,828,277Liabilities 2024: $6,321,857Net Assets 2024: $4,506,4202024

Highlighted filing

2015

Assets$1,869,286
Liabilities$404,339
Net Assets$1,464,947

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $287,585Expenses 2011: $197,122Net Income 2011: $90,4632011Revenue 2012: $243,932Expenses 2012: $246,355Net Income 2012: -$2,4232012Expenses 2013: $168,4332013Revenue 2014: $343,572Expenses 2014: $268,419Net Income 2014: $75,1532014Revenue 2015: $509,602Expenses 2015: $667,446Net Income 2015: -$157,8442015Revenue 2016: $1,446,869Expenses 2016: $1,310,303Net Income 2016: $136,5662016Revenue 2017: $448,381Expenses 2017: $194,916Net Income 2017: $253,4652017Revenue 2018: $1,476,311Expenses 2018: $253,539Net Income 2018: $1,222,7722018Revenue 2019: $745,756Expenses 2019: $643,399Net Income 2019: $102,3572019Revenue 2020: $1,024,367Expenses 2020: $620,376Net Income 2020: $403,9912020Revenue 2021: $1,060,602Expenses 2021: $646,397Net Income 2021: $414,2052021Revenue 2022: $676,763Expenses 2022: $636,350Net Income 2022: $40,4132022Revenue 2023: $492,179Expenses 2023: $329,872Net Income 2023: $162,3072023Revenue 2024: $623,645Expenses 2024: $496,228Net Income 2024: $127,4172024

Highlighted filing

2015

Revenue$509,602
Expenses$667,446
Net Income-$157,844
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 2, 2016
Return Version
2014v6.0
Gross Receipts
$529,292
Mission and Program Overview

Mission

To recruit and develop industry in morgan county, tn.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,738,070$1,670,744▼ $67,326
Rtn Earn Endowment Incm Other Fnds$1,622,793$1,464,947▼ $157,846
Cash and Non-Interest-Bearing Accounts$237,011$99,612▼ $137,399
Savings and Temporary Cash Investments$95,286$95,584▲ $298
Intangible Assets$1,431$1,381▼ $50
Total Assets$2,073,763$1,869,286▼ $204,477
Other Assets Total$1,965$1,965→ $0
Liabilities
Other Liabilities$450,970$404,339▼ $46,631
Total Liabilities$450,970$404,339▼ $46,631
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,622,793$1,464,947▼ $157,846
Total Liabilities and Net Assets / Fund Balance$2,073,763$1,869,286▼ $204,477

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,346,275$776,470$2,122,745
Land$324,469-$324,469
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lisa RutherfordExecutive DiFT$39,450$39,450

Board Members and Trustees

NameTitle
Tim JohnsonChair
Janet GallowayVice Chair
Benny StewartDirector
Danny CoxDirector
Dolman RobertsDirector
Jean PollardDirector
Kelly AmonettDirector
Larry WilliamsDirector
Ray TuckerDirector
Sara Jo GoodmanDirector
Wade AdcockDirector
Sharon HeidleSecretary
George McgrathTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$312,361
Program Service Revenue
$186,334
Investment Income
$10,907
Other Revenue
$0
All Other Contributions
$312,361
Change in Net Assets
$-157,844

Audited Revenue Reconciliation

Revenue per Audited Statements
$509,602
Revenue Not Reported on Form 990
$548,442
Total Revenue per Audited Statements
$1,058,044
Total Revenue per Form 990
$509,602
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$616,938
Salaries, Compensation, and Employee Benefits$50,508
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$487,845$11,481-$499,326
Depreciation Depletion$52,328--$52,328
Other Salaries and Wages$40,406$10,102-$50,508
Occupancy$24,498$1,369-$25,867
Interest$21,657--$21,657
Travel$6,189$1,547-$7,736
Fees for Services Accounting$6,686--$6,686
Advertising$3,338--$3,338
Total Functional Expenses$642,947$24,499$0$667,446

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,385,537
Expenses Not Reported on Form 990$718,091
Expenses per Audited Statements$667,446
Total Expenses per Form 990$667,446
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
Notes Payable$403,498
Payroll Liabilities$841
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
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

No review was or will be conducted

Form 990, Page 6, Part VI, Line 19

Entity documents available for inspection upon request

Filing and Contact Details

Filer

Filer Name
Morgan County Economic Development
EIN
58-1705685
Phone
4233463000
Address
PO BOX 979, WARTBURG, TN 37887

Signing Officer

Name
Tim Johnson
Title
Chair
Phone
4233463000
Signed
2016-02-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Johnson
Legal Domicile
Tn
Voting Board Members
14
Independent Board Members
14
Employees
1

Preparer

Firm
Uselton Clay & Bright Pc
Address
PO BOX 626, KINGSTON, TN 37763
Preparer
Suzanne R Jones Clay CPA
Phone
8653769564
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contributions 2,650 0 0 supplies 0 3,162 0 county projects 483,145 0 0 postage 0 317 0 administrative expenses 0 8,002 0 dues 2,050 0 0

Form 990, Part XI, Line 9

Grants receivable 548,442 accrued expenses - county projects -716,407 accrued expenses - various management & general expenses -609 book / tax depreciation difference -1,075

Form 990, Part XI, Line 9

Variance from accrual to cash basis net income 169,647 the organization's audited finanical statements were prepared on the accrual basis of accounting in accordance with generally accepted accounting principles. However, the 990 has been prepared on the cash basis of accounting.

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Grants receivable 548,442

Schedule D, Page 4, Part XII, Line 2D

Accrued expenses - county projects 716,407 accrued expenses - various management & general expenses 609 book / tax depreciation difference 1,075

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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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IRS990/PYProgramServiceRevenueAmt0225252
IRS990/PYRevenuesLessExpensesAmt075153
IRS990/PYSalariesCompEmpBnftPaidAmt041856
IRS990/PYTotalExpensesAmt0268419
IRS990/PYTotalRevenueAmt0343572
IRS990/ReconcilationRevenueExpnssAmt0-157844
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01622793
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01464947
IRS990/SavingsAndTempCashInvstGrp/BOYAmt095286
IRS990/SavingsAndTempCashInvstGrp/EOYAmt095584
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesNotReportedAmt0718091
IRS990ScheduleD/ExpensesSubtotalAmt0667446
IRS990ScheduleD/LandGrp/BookValueAmt0324469
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0324469
IRS990ScheduleD/OtherExpensesIncludedAmt0718091
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01346275
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0776470
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02122745
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0403498
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1841
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL LIABILITIES
IRS990ScheduleD/OtherRevenueAmt0548442
IRS990ScheduleD/RevenueNotReportedAmt0548442
IRS990ScheduleD/RevenueSubtotalAmt0509602
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0GRANTS RECEIVABLE 548,442
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ACCRUED EXPENSES - COUNTY PROJECTS 716,407 ACCRUED EXPENSES - VARIOUS MANAGEMENT & GENERAL EXPENSES 609 BOOK / TAX DEPRECIATION DIFFERENCE 1,075
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01670744
IRS990ScheduleD/TotalExpensesPerForm990Amt0667446
IRS990ScheduleD/TotalLiabilityAmt0404339
IRS990ScheduleD/TotalRevenuePerForm990Amt0509602
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01058044
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01385537
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ENTITY DOCUMENTS AVAILABLE FOR INSPECTION UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONTRIBUTIONS 2,650 0 0 SUPPLIES 0 3,162 0 COUNTY PROJECTS 483,145 0 0 POSTAGE 0 317 0 ADMINISTRATIVE EXPENSES 0 8,002 0 DUES 2,050 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GRANTS RECEIVABLE 548,442 ACCRUED EXPENSES - COUNTY PROJECTS -716,407 ACCRUED EXPENSES - VARIOUS MANAGEMENT & GENERAL EXPENSES -609 BOOK / TAX DEPRECIATION DIFFERENCE -1,075
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4VARIANCE FROM ACCRUAL TO CASH BASIS NET INCOME 169,647 THE ORGANIZATION'S AUDITED FINANICAL STATEMENTS WERE PREPARED ON THE ACCRUAL BASIS OF ACCOUNTING IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. HOWEVER, THE 990 HAS BEEN PREPARED ON THE CASH BASIS OF ACCOUNTING.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02073763
IRS990/TotalAssetsEOYAmt01869286
IRS990/TotalAssetsGrp/BOYAmt02073763
IRS990/TotalAssetsGrp/EOYAmt01869286
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0312361
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt024499
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0642947
IRS990/TotalFunctionalExpensesGrp/TotalAmt0667446
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0450970
IRS990/TotalLiabilitiesEOYAmt0404339
IRS990/TotalLiabilitiesGrp/BOYAmt0450970
IRS990/TotalLiabilitiesGrp/EOYAmt0404339
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01622793
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01464947
IRS990/TotalProgramServiceExpensesAmt0642947
IRS990/TotalProgramServiceRevenueAmt0186334
IRS990/TotalReportableCompFromOrgAmt039450
IRS990/TotalRevenueGrp/ExclusionAmt0186631
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt010610
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0509602
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02073763
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01869286
IRS990/TravelGrp/ManagementAndGeneralAmt01547
IRS990/TravelGrp/ProgramServicesAmt06189
IRS990/TravelGrp/TotalAmt07736
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 979
IRS990/USAddress/CityNm0WARTBURG
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037887
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TIM JOHNSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum04233463000
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-02-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MORGAN COUNTY ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0BOARD INC
ReturnHeader/Filer/BusinessNameControlTxt0MORG
ReturnHeader/Filer/EIN0581705685
ReturnHeader/Filer/PhoneNum04233463000
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 979
ReturnHeader/Filer/USAddress/CityNm0WARTBURG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd037887
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0621413018
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0USELTON CLAY & BRIGHT PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 626
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0KINGSTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd037763
ReturnHeader/PreparerPersonGrp/PhoneNum08653769564
ReturnHeader/PreparerPersonGrp/PreparationDt02016-02-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SUZANNE R JONES CLAY CPA
ReturnHeader/ReturnTs02016-03-15T10:55:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$10.8$6.32$4.51$0.62$0.50$0.13
2023Detailed filing. Detailed filing data is available for this year.$6.81$2.32$4.49$0.49$0.33$0.16
2022Detailed filing. Detailed filing data is available for this year.$7.05$2.72$4.33$0.68$0.64$0.04
2021Detailed filing. Detailed filing data is available for this year.$8.52$4.24$4.29$1.06$0.65$0.41
2020Detailed filing. Detailed filing data is available for this year.$8.19$4.32$3.87$1.02$0.62$0.40
2019Detailed filing. Detailed filing data is available for this year.$7.90$4.25$3.65$0.75$0.64$0.10
2018Detailed filing. Detailed filing data is available for this year.$7.21$4.12$3.10$1.48$0.25$1.22
2017Detailed filing. Detailed filing data is available for this year.$2.97$1.10$1.87$0.45$0.19$0.25
2016Detailed filing. Detailed filing data is available for this year.$1.96$0.36$1.60$1.45$1.31$0.14
2015Detailed filing. Detailed filing data is available for this year.$1.87$0.40$1.46$0.51$0.67$0.16
2014Detailed filing. Detailed filing data is available for this year.$2.07$0.45$1.62$0.34$0.27$0.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.04$0.50$1.55$0.17
2012Summary only. Only limited summary data is available for this year.$2.02$0.54$1.48$0.24$0.25$0.00
2011Summary only. Only limited summary data is available for this year.$2.06$0.58$1.48$0.29$0.20$0.09