Civic Intelligence

Morgan County Economic Development Board Inc

990 • Fiscal year 2018 • EIN 58-1705685

Jul 01, 2017 to Jun 30, 2018 • Filed on Jan 21, 2019

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

0.57x

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

2018 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

85th percentile

2.79x

Higher debt load relative to revenue than 85% of similar nonprofits.

2018 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2018

Net Margin

96th percentile

83%

Higher net margin than 96% of similar nonprofits.

2018 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

54th percentile

$50,519

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

2018 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2018

Asset Growth

97th percentile

143%

Faster asset growth than 97% of similar nonprofits.

2018 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

94th percentile

229%

Faster revenue growth than 94% of similar nonprofits.

2018 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Up

$7,212,928

Up $4,238,544 (+143%) from 2017

Net Assets

Up

$3,095,511

Up $1,222,772 (+65%) from 2017

Liabilities

Up

$4,117,417

Up $3,015,772 (+274%) from 2017

Revenue

Up

$1,476,311

Up $1,027,930 (+229%) from 2017

Expenses

Up

$253,539

Up $58,623 (+30%) from 2017

Net Income

Up

$1,222,772

Up $969,307 (+382%) from 2017

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

2018

Assets$7,212,928
Liabilities$4,117,417
Net Assets$3,095,511

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

2018

Revenue$1,476,311
Expenses$253,539
Net Income$1,222,772
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Jan 21, 2019
Return Version
2017v2.3
Gross Receipts
$1,476,311
Mission and Program Overview

Mission

To recruit and develop industry in morgan county, tn.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,872,739$3,095,511▲ $1,222,772
Land, Buildings, and Equipment, Net$1,525,026$1,675,068▲ $150,042
Cash and Non-Interest-Bearing Accounts$238,432$263,285▲ $24,853
Savings and Temporary Cash Investments$96,063$96,452▲ $389
Intangible Assets$1,283$1,234▼ $49
Total Assets$2,974,384$7,212,928▲ $4,238,544
Other Assets Total$1,113,580$5,176,889▲ $4,063,309
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,100,505$4,116,551▲ $3,016,046
Other Liabilities$1,140$866▼ $274
Total Liabilities$1,101,645$4,117,417▲ $3,015,772
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,872,739$3,095,511▲ $1,222,772
Total Liabilities and Net Assets / Fund Balance$2,974,384$7,212,928▲ $4,238,544

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,350,599$844,026$2,194,625
Land$324,469-$324,469
Other Assets Org$1,965--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lisa CollettExecutive DiFT$42,719$7,800$50,519
Tim JohnsonChairPT$1,900-$1,900
James R RiversBoard Member-$1,750-$1,750
Larry WilliamsVice Chair-$1,250-$1,250
Kelly AmonettMember at La-$975-$975
Sara Jo GoodmanTreasurer-$950-$950
Dolman RobertsBoard Member-$600-$600
Janet GallowayBoard Member-$325-$325
Jean PollardBoard Member-$300-$300
Ray TuckerBoard Member-$300-$300
Danny CoxBoard Member-$125-$125

Board Members and Trustees

NameTitle
Aaron FreelsBoard Member
Allen DagleyBoard Member
Benny StewartBoard Member
Carla LarueBoard Member
George McgrathBoard Member
Sharon HeidelBoard Member
Wade AdcockBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$444,988
Program Service Revenue
$1,016,916
Investment Income
$14,407
Other Revenue
$0
All Other Contributions
$350
Change in Net Assets
$1,222,772

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,476,311
Revenue Not Reported on Form 990
$78,967
Total Revenue per Audited Statements
$1,555,278
Total Revenue per Form 990
$1,476,311
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$191,168
Salaries, Compensation, and Employee Benefits$62,371
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$52,965--$52,965
Current Officers, Directors, Trustees, and Key Employees$34,175$17,019-$51,194
Occupancy$27,429$1,510-$28,939
Interest$15,299--$15,299
Conferences and Meetings$8,977$2,245-$11,222
Other Employee Benefits$6,240$1,560-$7,800
Fees for Services Accounting-$5,845-$5,845
Payroll Taxes$2,702$675-$3,377
Office Expenses-$3,202-$3,202
Insurance$2,230$557-$2,787
All Other Expenses-$2,784-$2,784
Other Expenses$2,525--$2,525
Advertising$598--$598
Total Functional Expenses$218,142$35,397$0$253,539

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$260,678
Expenses per Audited Statements$253,539
Total Expenses per Form 990$253,539
Expenses Not Reported on Form 990$7,139
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
Payroll Liabilities$866
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
4233469400
Address
PO BOX 979, WARTBURG, TN 37887

Signing Officer

Name
Lisa Collett
Title
Executive Director
Phone
4233469400
Signed
2019-01-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Collett
Formed
1985
Legal Domicile
Tn
Voting Board Members
13
Independent Board Members
13
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

Financial Statement Notes

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

Change in accrued reimbursements 42,355 change in accrued grant revenue 36,612

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

Various accrued expenses 4,125 book / tax depreciation difference 3,014

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IRS990/LandBldgEquipCostOrOtherBssAmt02519094
IRS990/LegalDomicileStateCd0TN
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO RECRUIT AND DEVELOP INDUSTRY IN MORGAN COUNTY, TN.
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01560
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt06240
IRS990/OtherEmployeeBenefitsGrp/TotalAmt07800
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IRS990/OtherExpensesGrp/ProgramServicesAmt13000
IRS990/OtherExpensesGrp/ProgramServicesAmt22925
IRS990/OtherExpensesGrp/ProgramServicesAmt32525
IRS990/OtherExpensesGrp/TotalAmt059077
IRS990/OtherExpensesGrp/TotalAmt13000
IRS990/OtherExpensesGrp/TotalAmt22925
IRS990/OtherExpensesGrp/TotalAmt32525
IRS990/OtherLiabilitiesGrp/BOYAmt01140
IRS990/OtherLiabilitiesGrp/EOYAmt0866
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0675
IRS990/PayrollTaxesGrp/ProgramServicesAmt02702
IRS990/PayrollTaxesGrp/TotalAmt03377
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0LISA COLLETT
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0REIMBURSEMENT INCOME
IRS990/ProgramServiceRevenueGrp/Desc1PROGRAM INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0564238
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1452678
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0564238
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1452678
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0285211
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt014043
IRS990/PYInvestmentIncomeAmt0-38555
IRS990/PYOtherExpensesAmt0122149
IRS990/PYProgramServiceRevenueAmt0201725
IRS990/PYRevenuesLessExpensesAmt0253465
IRS990/PYSalariesCompEmpBnftPaidAmt058724
IRS990/PYTotalExpensesAmt0194916
IRS990/PYTotalRevenueAmt0448381
IRS990/ReconcilationRevenueExpnssAmt01222772
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01016916
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01872739
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt096452
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IRS990ScheduleD/ExpensesNotReportedAmt07139
IRS990ScheduleD/ExpensesSubtotalAmt0253539
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0324469
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt05174924
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11965
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION-IN-PROCESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEPOSITS
IRS990ScheduleD/OtherExpensesIncludedAmt07139
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01350599
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0844026
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02194625
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0866
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL LIABILITIES
IRS990ScheduleD/OtherRevenueAmt078967
IRS990ScheduleD/RevenueNotReportedAmt078967
IRS990ScheduleD/RevenueSubtotalAmt01476311
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CHANGE IN ACCRUED REIMBURSEMENTS 42,355 CHANGE IN ACCRUED GRANT REVENUE 36,612
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1VARIOUS ACCRUED EXPENSES 4,125 BOOK / TAX DEPRECIATION DIFFERENCE 3,014
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt05176889
IRS990ScheduleD/TotalExpensesPerForm990Amt0253539
IRS990ScheduleD/TotalLiabilityAmt0866
IRS990ScheduleD/TotalRevenuePerForm990Amt01476311
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01555278
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0260678
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ENTITY DOCUMENTS AVAILABLE FOR INSPECTION UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt02974384
IRS990/TotalAssetsGrp/EOYAmt07212928
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0444988
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0218142
IRS990/TotalFunctionalExpensesGrp/TotalAmt0253539
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01101645
IRS990/TotalLiabilitiesEOYAmt04117417
IRS990/TotalLiabilitiesGrp/BOYAmt01101645
IRS990/TotalLiabilitiesGrp/EOYAmt04117417
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01872739
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03095511
IRS990/TotalOtherCompensationAmt07800
IRS990/TotalProgramServiceExpensesAmt0218142
IRS990/TotalProgramServiceRevenueAmt01016916
IRS990/TotalReportableCompFromOrgAmt051194
IRS990/TotalRevenueGrp/ExclusionAmt014407
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01016916
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01476311
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02974384
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07212928
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0109 DAKOTA TRAIL
IRS990/USAddress/CityNm0ROCKWOOD
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037887
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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