Civic Intelligence

Morgan County Economic Development Board Inc

990 • Fiscal year 2021 • EIN 58-1705685

Jul 01, 2020 to Jun 30, 2021 • Filed on May 12, 2022

Organization ProfileN/A
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

83rd percentile

0.50x

Higher debt load relative to assets than 83% of similar nonprofits.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

92nd percentile

4.00x

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

2021 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2021

Net Margin

77th percentile

39%

Higher net margin than 77% of similar nonprofits.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

56th percentile

$56,851

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2021

Asset Growth

39th percentile

4.1%

Faster asset growth than 39% of similar nonprofits.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

48th percentile

3.5%

Faster revenue growth than 48% of similar nonprofits.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$8,524,921

Up $334,405 (+4.1%) from 2020

Net Assets

Up

$4,286,293

Up $414,205 (+11%) from 2020

Liabilities

Down

$4,238,628

Down $79,800 (-1.8%) from 2020

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin77th percentile

Revenue

Up

$1,060,602

Up $36,235 (+3.5%) from 2020

Expenses

Up

$646,397

Up $26,021 (+4.2%) from 2020

Net Income

Up

$414,205

Up $10,214 (+2.5%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

2021

Assets$8,524,921
Liabilities$4,238,628
Net Assets$4,286,293
Open 2021 Filing

Operations Trend

Revenue Growth48th percentile

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

2021

Revenue$1,060,602
Expenses$646,397
Net Income$414,205
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 12, 2022
Return Version
2020v4.0
Gross Receipts
$1,060,602
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$6,709,490$7,577,537▲ $868,047
Rtn Earn Endowment Incm Other Fnds$3,872,088$4,286,293▲ $414,205
Cash and Non-Interest-Bearing Accounts$388,922$530,924▲ $142,002
Accounts Receivable$148,438$214,495▲ $66,057
Savings and Temporary Cash Investments$100,000$100,000→ $0
Other Notes and Loans Receivable, Net$100,000$100,000→ $0
Total Assets$8,190,516$8,524,921▲ $334,405
Other Assets Total$743,666$1,965▼ $741,701
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,502,954$4,209,254▲ $706,300
Unsecured Notes Loans Payable$736,198--
Accounts Payable and Accrued Expenses$79,276$29,374▼ $49,902
Total Liabilities$4,318,428$4,238,628▼ $79,800
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,872,088$4,286,293▲ $414,205
Total Liabilities and Net Assets / Fund Balance$8,190,516$8,524,921▲ $334,405

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,875,554$1,494,713$8,370,267
Land$701,779-$701,779
Equipment$204$2,780$2,984
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lisa CollettExecutive DiFT$49,132$7,719$56,851
Larry WilliamsVice Chairma-$2,150-$2,150
Jim RiversSecretary-$1,800-$1,800
Kelly AmonettBoard Member-$1,775-$1,775
Tim JohnsonBoard Member-$1,250-$1,250
Dolman RobertsBoard Member-$1,000-$1,000
Janett GallowayBoard Member-$1,000-$1,000
Alfred BranimChairmanPT$850-$850
Sarah Jo GoodmanTreasurer-$650-$650
Carla LarueBoard Member-$225-$225
Ray TuckerBoard Member-$200-$200
Aaron FreelsBoard Member-$100-$100
Danny CoxBoard Member-$100-$100
Revenue and Support

Revenue Composition

Contributions and Grants
$3,450
Program Service Revenue
$1,054,648
Investment Income
$2,504
Other Revenue
$0
Change in Net Assets
$414,205

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,060,602
Total Revenue per Audited Statements
$1,060,602
Total Revenue per Form 990
$1,060,602
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$570,092
Salaries, Compensation, and Employee Benefits$72,905
Grants and Similar Amounts Paid$3,400
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$238,141--$238,141
Depreciation Depletion$217,895--$217,895
Current Officers, Directors, Trustees, and Key Employees$55,227$13,807-$69,034
Occupancy$52,313$13,078-$65,391
Fees for Services Accounting$9,294$2,324-$11,618
Insurance$4,398$1,100-$5,498
Fees for Services Other-$4,125-$4,125
Office Expenses$183$3,736-$3,919
Payroll Taxes$3,097$774-$3,871
Grants to Domestic Orgs$3,400--$3,400
Conferences and Meetings$1,887$472-$2,359
Advertising$1,605--$1,605
Other Expenses$820$1,217-$820
Total Functional Expenses$603,672$42,725$0$646,397

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$646,397
Total Expenses per Audited Statements$646,397
Total Expenses per Form 990$646,397
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 35% controlled entity
No
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
2022-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alfred Branim
Formed
1985
Legal Domicile
Tn
Voting Board Members
12
Independent Board Members
12
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
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IRS990/OtherExpensesGrp/ProgramServicesAmt3820
IRS990/OtherExpensesGrp/TotalAmt010462
IRS990/OtherExpensesGrp/TotalAmt16084
IRS990/OtherExpensesGrp/TotalAmt22175
IRS990/OtherExpensesGrp/TotalAmt3820
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0100000
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0100000
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0774
IRS990/PayrollTaxesGrp/ProgramServicesAmt03097
IRS990/PayrollTaxesGrp/TotalAmt03871
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ALFRED BRANIM
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1SALES TAX REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0840153
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1214495
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0840153
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1214495
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt083041
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt03744
IRS990/PYInvestmentIncomeAmt09501
IRS990/PYOtherExpensesAmt0546308
IRS990/PYProgramServiceRevenueAmt0931825
IRS990/PYRevenuesLessExpensesAmt0403991
IRS990/PYSalariesCompEmpBnftPaidAmt070324
IRS990/PYTotalExpensesAmt0620376
IRS990/PYTotalRevenueAmt01024367
IRS990/ReconcilationRevenueExpnssAmt0414205
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01054648
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt03872088
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt04286293
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0100000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0100000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt06875554
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01494713
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt08370267
IRS990ScheduleD/EquipmentGrp/BookValueAmt0204
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02780
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02984
IRS990ScheduleD/ExpensesSubtotalAmt0646397
IRS990ScheduleD/LandGrp/BookValueAmt0701779
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0701779
IRS990ScheduleD/RevenueSubtotalAmt01060602
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07577537
IRS990ScheduleD/TotalExpensesPerForm990Amt0646397
IRS990ScheduleD/TotalRevenuePerForm990Amt01060602
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01060602
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0646397
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DOCUMENTS 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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08190516
IRS990/TotalAssetsEOYAmt08524921
IRS990/TotalAssetsGrp/BOYAmt08190516
IRS990/TotalAssetsGrp/EOYAmt08524921
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03450
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt042725
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0603672
IRS990/TotalFunctionalExpensesGrp/TotalAmt0646397
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04318428
IRS990/TotalLiabilitiesEOYAmt04238628
IRS990/TotalLiabilitiesGrp/BOYAmt04318428
IRS990/TotalLiabilitiesGrp/EOYAmt04238628
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03872088
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04286293
IRS990/TotalOtherCompensationAmt07719
IRS990/TotalProgramServiceExpensesAmt0603672
IRS990/TotalProgramServiceRevenueAmt01054648
IRS990/TotalReportableCompFromOrgAmt060232
IRS990/TotalRevenueGrp/ExclusionAmt02504
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01054648
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01060602
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08190516
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08524921
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0736198
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 979
IRS990/USAddress/CityNm0WARTBURG
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037887
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LISA COLLETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04233469400
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-12
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/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/PreparationDt02022-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0FRANK D MCDANIEL CPA
ReturnHeader/ReturnTs02022-05-13T13:52:49-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LISA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0COLLETT
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,524,921
Liabilities
$4,238,628
Net assets
$4,286,293
Revenue
$1,060,602
Expenses
$646,397
Net income
$414,205
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