Civic Intelligence

Morgan County Economic Development Board Inc

990 • Fiscal year 2019 • EIN 58-1705685

Jul 01, 2018 to Jun 30, 2019 • Filed on May 13, 2020

PO Box 979Wartburg, TN 37887

(423) 346-9400

Siviq Scores

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

Liabilities / Assets

80th percentile

0.54x

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

2019 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

92nd percentile

5.70x

Higher debt load relative to revenue than 92% of similar nonprofits.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2019

Net Margin

63rd percentile

14%

Higher net margin than 63% of similar nonprofits.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

52nd percentile

$54,855

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 7.4% of source-year revenue.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2019

Asset Growth

68th percentile

9.5%

Faster asset growth than 68% of similar nonprofits.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

5th percentile

-49%

Faster revenue growth than 5% of similar nonprofits.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Up

$7,897,974

Up $685,046 (+9.5%) from 2018

Net Assets

Up

$3,647,603

Up $552,092 (+18%) from 2018

Liabilities

Up

$4,250,371

Up $132,954 (+3.2%) from 2018

Revenue

Down

$745,756

Down $730,555 (-49%) from 2018

Expenses

Up

$643,399

Up $389,860 (+154%) from 2018

Net Income

Down

$102,357

Down $1,120,415 (-92%) from 2018

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

2019

Assets$7,897,974
Liabilities$4,250,371
Net Assets$3,647,603

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

2019

Revenue$745,756
Expenses$643,399
Net Income$102,357
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 13, 2020
Return Version
2018v3.2
Gross Receipts
$745,756
Mission and Program Overview

Mission

To recruit and develop industry in morgan county, tn.

To recruit and develop industry in morgan county, tennessee.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,675,068$6,777,609▲ $5,102,541
Pd in Cap Srpls Land Bldg Eqp Fund-$3,346,359-
Accounts Receivable-$735,817-
Rtn Earn Endowment Incm Other Fnds$3,095,511$301,244▼ $2,794,267
Cash and Non-Interest-Bearing Accounts$263,285$282,583▲ $19,298
Savings and Temporary Cash Investments$96,452$100,000▲ $3,548
Intangible Assets$1,234--
Total Assets$7,212,928$7,897,974▲ $685,046
Other Assets Total$5,176,889$1,965▼ $5,174,924
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,396,249$3,431,250▲ $35,001
Unsecured Notes Loans Payable$721,168$739,069▲ $17,901
Accounts Payable and Accrued Expenses-$80,052-
Total Liabilities$4,117,417$4,250,371▲ $132,954
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,095,511$3,647,603▲ $552,092
Total Liabilities and Net Assets / Fund Balance$7,212,928$7,897,974▲ $685,046

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,401,216$1,060,378$7,461,594
Land$375,369-$375,369
Equipment$1,024$1,960$2,984
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lisa CollettExecutive DiFT$47,065$7,790$54,855
Kelly AmonetBoard Member-$1,942-$1,942
Jim RiversSecretary-$1,917-$1,917
Tim JohnsonBoard Member-$1,853-$1,853
Larry WilliamsVice Chairma-$1,802-$1,802
Sarah Jo GoodmanTreasurer-$600-$600
Janett GallowayBoard Member-$450-$450
Dolman RobertsBoard Member-$325-$325
Jean PollardBoard Member-$325-$325
Ray TuckerBoard Member-$300-$300
Carla LarueBoard Member-$250-$250
Aaron FreelsBoard Member-$200-$200
Danny CoxBoard Member-$200-$200
Alfred BranimChairmanPT$175-$175
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$703,983
Investment Income
$41,773
Other Revenue
$0
Change in Net Assets
$102,357

Audited Revenue Reconciliation

Revenue per Audited Statements
$745,756
Total Revenue per Audited Statements
$745,756
Total Revenue per Form 990
$745,756
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$584,081
Salaries, Compensation, and Employee Benefits$59,318
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$246,003--$246,003
Depreciation Depletion$215,561--$215,561
Current Officers, Directors, Trustees, and Key Employees$44,533$11,134-$55,667
Occupancy$19,701$4,925-$24,626
Conferences and Meetings$9,050$2,263-$11,313
Office Expenses$5,418$1,354-$6,772
All Other Expenses$2,336$3,614-$5,950
Fees for Services Accounting$4,654$1,164-$5,818
Other Expenses$4,750$1,538-$4,750
Payroll Taxes$2,921$730-$3,651
Fees for Services Other-$2,600-$2,600
Insurance$1,966$492-$2,458
Advertising$1,700--$1,700
Total Functional Expenses$573,017$70,382$0$643,399

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$643,399
Total Expenses per Audited Statements$643,399
Total Expenses per Form 990$643,399
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
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

Documents available for inspection upon request.

Filing and Contact Details

Filer

Filer Name
Morgan County Economic Development
EIN
58-1705685
Phone
4233469400
Address
PO BOX 979, WARTBURG, TN 37887

Signing Officer

Name
Lisa Collett
Title
Executive Director
Phone
4233469400
Signed
2020-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alfred Branim
Formed
1985
Legal Domicile
Tn
Voting Board Members
13
Independent Board Members
13
Employees
1

Preparer

Firm
Brown Jake & Mcdaniel Pc
Address
2607 KINGSTON PIKE SUITE 110, KNOXVILLE, TN 37919-3336
Preparer
Frank D Mcdaniel CPA
Phone
8656378600
Supplemental Narrative

Additional Explanations

Form 990, Page 12, Part XII, Line 1

The organization changed from cash to full accrual.

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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12068
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21538
IRS990/OtherExpensesGrp/ProgramServicesAmt08272
IRS990/OtherExpensesGrp/ProgramServicesAmt16152
IRS990/OtherExpensesGrp/ProgramServicesAmt24750
IRS990/OtherExpensesGrp/TotalAmt038500
IRS990/OtherExpensesGrp/TotalAmt110340
IRS990/OtherExpensesGrp/TotalAmt27690
IRS990/OtherExpensesGrp/TotalAmt34750
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0730
IRS990/PayrollTaxesGrp/ProgramServicesAmt02921
IRS990/PayrollTaxesGrp/TotalAmt03651
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt03346359
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ALFRED BRANIM
IRS990/PriorPeriodAdjustmentsAmt0449735
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1REIMBURSEMENT INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0692660
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt111323
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0692660
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt111323
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0444988
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt014407
IRS990/PYOtherExpensesAmt0191168
IRS990/PYProgramServiceRevenueAmt01016916
IRS990/PYRevenuesLessExpensesAmt01222772
IRS990/PYSalariesCompEmpBnftPaidAmt062371
IRS990/PYTotalExpensesAmt0253539
IRS990/PYTotalRevenueAmt01476311
IRS990/ReconcilationRevenueExpnssAmt0102357
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0745756
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt03095511
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0301244
IRS990/SavingsAndTempCashInvstGrp/BOYAmt096452
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0100000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt06401216
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01060378
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07461594
IRS990ScheduleD/EquipmentGrp/BookValueAmt01024
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01960
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02984
IRS990ScheduleD/ExpensesSubtotalAmt0643399
IRS990ScheduleD/LandGrp/BookValueAmt0375369
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0375369
IRS990ScheduleD/RevenueSubtotalAmt0745756
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06777609
IRS990ScheduleD/TotalExpensesPerForm990Amt0643399
IRS990ScheduleD/TotalRevenuePerForm990Amt0745756
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0745756
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0643399
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DOCUMENTS AVAILABLE FOR INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION CHANGED FROM CASH TO FULL ACCRUAL.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 12, PART XII, LINE 1
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt07212928
IRS990/TotalAssetsEOYAmt07897974
IRS990/TotalAssetsGrp/BOYAmt07212928
IRS990/TotalAssetsGrp/EOYAmt07897974
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt070382
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0573017
IRS990/TotalFunctionalExpensesGrp/TotalAmt0643399
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04117417
IRS990/TotalLiabilitiesEOYAmt04250371
IRS990/TotalLiabilitiesGrp/BOYAmt04117417
IRS990/TotalLiabilitiesGrp/EOYAmt04250371
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03095511
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03647603
IRS990/TotalOtherCompensationAmt07790
IRS990/TotalProgramServiceExpensesAmt0573017
IRS990/TotalProgramServiceRevenueAmt0703983
IRS990/TotalReportableCompFromOrgAmt057404
IRS990/TotalRevenueGrp/ExclusionAmt041773
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0703983
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0745756
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07212928
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07897974
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0721168
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0739069
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 979
IRS990/USAddress/CityNm0WARTBURG
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037887
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-09-10 13:11:23Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LISA COLLETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04233469400
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MORGAN COUNTY ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0BOARD INC
ReturnHeader/Filer/BusinessNameControlTxt0MORG
ReturnHeader/Filer/EIN0581705685
ReturnHeader/Filer/PhoneNum04233469400
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 979
ReturnHeader/Filer/USAddress/CityNm0WARTBURG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd037887
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07F66406AE75E1014805EB04881AB44BAB1E338AA
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0311564039E69117CCDDBBDD71BBE29467CF205F3
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0104.190.12.28
ReturnHeader/FilingSecurityInformation/IPDt02020-05-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:53:25
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0621170651
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BROWN JAKE & MCDANIEL PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02607 KINGSTON PIKE SUITE 110
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0KNOXVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0379193336
ReturnHeader/PreparerPersonGrp/PhoneNum08656378600
ReturnHeader/PreparerPersonGrp/PreparationDt02020-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0FRANK D MCDANIEL CPA
ReturnHeader/ReturnTs02020-05-13T13:53:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30

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