Civic Intelligence

Morgan County Economic Development Board Inc

990 • Fiscal year 2022 • EIN 58-1705685

Jul 01, 2021 to Jun 30, 2022 • Filed on May 12, 2023

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

77th percentile

0.39x

Higher debt load relative to assets than 77% of similar nonprofits.

2022 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

93rd percentile

4.02x

Higher debt load relative to revenue than 93% of similar nonprofits.

2022 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2022

Net Margin

47th percentile

6.0%

Higher net margin than 47% of similar nonprofits.

2022 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

55th percentile

$63,416

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 9.4% of source-year revenue.

2022 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2022

Asset Growth

13th percentile

-17%

Faster asset growth than 13% of similar nonprofits.

2022 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

12th percentile

-36%

Faster revenue growth than 12% of similar nonprofits.

2022 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Down

$7,047,109

Down $1,477,812 (-17%) from 2021

Net Assets

Up

$4,326,706

Up $40,413 (+0.9%) from 2021

Liabilities

Down

$2,720,403

Down $1,518,225 (-36%) from 2021

Revenue

Down

$676,763

Down $383,839 (-36%) from 2021

Expenses

Down

$636,350

Down $10,047 (-1.6%) from 2021

Net Income

Down

$40,413

Down $373,792 (-90%) from 2021

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

2022

Assets$7,047,109
Liabilities$2,720,403
Net Assets$4,326,706

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

2022

Revenue$676,763
Expenses$636,350
Net Income$40,413
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 12, 2023
Return Version
2021v4.0
Gross Receipts
$6,248,439
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
Rtn Earn Endowment Incm Other Fnds$4,286,293$4,326,706▲ $40,413
Land, Buildings, and Equipment, Net$7,577,537$3,170,732▼ $4,406,805
Cash and Non-Interest-Bearing Accounts$530,924$2,499,152▲ $1,968,228
Accounts Receivable$214,495$216,023▲ $1,528
Savings and Temporary Cash Investments$100,000$100,000→ $0
Other Notes and Loans Receivable, Net$100,000--
Total Assets$8,524,921$7,047,109▼ $1,477,812
Other Assets Total$1,965$1,061,202▲ $1,059,237
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,209,254$1,566,964▼ $2,642,290
Other Liabilities-$1,100,502-
Accounts Payable and Accrued Expenses$29,374$52,937▲ $23,563
Total Liabilities$4,238,628$2,720,403▼ $1,518,225
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,286,293$4,326,706▲ $40,413
Total Liabilities and Net Assets / Fund Balance$8,524,921$7,047,109▼ $1,477,812

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,995,578$667,319$3,662,897
Land$175,153-$175,153
Equipment$1$2,983$2,984
Other Assets Org$1,965--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lisa CollettExecutive DiFT$55,488$7,928$63,416
Jim RiversSecretary-$2,200-$2,200
Larry WilliamsVice Chairma-$2,150-$2,150
Kelly AmonettBoard Member-$2,050-$2,050
Tim JohnsonBoard Member-$1,600-$1,600
Alfred BranimChairmanPT$550-$550
Sarah Jo GoodmanTreasurer-$500-$500
Janett GallowayBoard Member-$400-$400
Dolman RobertsBoard Member-$275-$275
Ray TuckerBoard Member-$250-$250
Carla LarueBoard Member-$100-$100
Danny CoxBoard Member-$75-$75
Aaron FreelsBoard Member-$50-$50

Board Members and Trustees

NameTitle
Jonathan DagleyBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$701,389
Investment Income
$-24,626
Other Revenue
$0
Change in Net Assets
$40,413

Audited Revenue Reconciliation

Revenue per Audited Statements
$676,763
Total Revenue per Audited Statements
$676,763
Total Revenue per Form 990
$676,763
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$554,146
Salaries, Compensation, and Employee Benefits$79,547
Grants and Similar Amounts Paid$2,657
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$239,902--$239,902
Depreciation Depletion$231,220--$231,220
Current Officers, Directors, Trustees, and Key Employees$60,152$15,039-$75,191
Occupancy$27,358$6,840-$34,198
Fees for Services Accounting$16,697$4,174-$20,871
Conferences and Meetings$6,701$1,675-$8,376
Payroll Taxes$3,485$871-$4,356
Insurance$3,124$781-$3,905
Office Expenses$212$2,848-$3,060
Grants to Domestic Orgs$2,657--$2,657
Advertising$1,066--$1,066
Other Expenses$146$36-$182
All Other Expenses$121$30-$151
Total Functional Expenses$602,927$33,423$0$636,350

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$636,350
Total Expenses per Audited Statements$636,350
Total Expenses per Form 990$636,350
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
Unearned Lease Revenue$1,059,237
Revenue Collected in Advance$41,265
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
2023-05-12
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/OfficeExpensesGrp/TotalAmt03060
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01965
IRS990/OtherAssetsTotalGrp/EOYAmt01061202
IRS990/OtherExpensesGrp/Desc0INDUSTRIAL SITE STUDY
IRS990/OtherExpensesGrp/Desc1WETLAND EXPENSE
IRS990/OtherExpensesGrp/Desc2MEMBERSHIP DUES
IRS990/OtherExpensesGrp/Desc3BANK CHARGES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01129
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt136
IRS990/OtherExpensesGrp/ProgramServicesAmt04516
IRS990/OtherExpensesGrp/ProgramServicesAmt13395
IRS990/OtherExpensesGrp/ProgramServicesAmt22175
IRS990/OtherExpensesGrp/ProgramServicesAmt3146
IRS990/OtherExpensesGrp/TotalAmt05645
IRS990/OtherExpensesGrp/TotalAmt13395
IRS990/OtherExpensesGrp/TotalAmt22175
IRS990/OtherExpensesGrp/TotalAmt3182
IRS990/OtherLiabilitiesGrp/EOYAmt01100502
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0100000
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0871
IRS990/PayrollTaxesGrp/ProgramServicesAmt03485
IRS990/PayrollTaxesGrp/TotalAmt04356
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ALFRED BRANIM
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0LEASE REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1SALES TAX REVENUE
IRS990/ProgramServiceRevenueGrp/Desc2SHORT TERM RENTAL REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0338301
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1216023
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2147065
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0338301
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1216023
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2147065
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt03450
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt03400
IRS990/PYInvestmentIncomeAmt02504
IRS990/PYOtherExpensesAmt0570092
IRS990/PYProgramServiceRevenueAmt01054648
IRS990/PYRevenuesLessExpensesAmt0414205
IRS990/PYSalariesCompEmpBnftPaidAmt072905
IRS990/PYTotalExpensesAmt0646397
IRS990/PYTotalRevenueAmt01060602
IRS990/ReconcilationRevenueExpnssAmt040413
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0701389
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt04286293
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt04326706
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0100000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0100000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02995578
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0667319
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03662897
IRS990ScheduleD/EquipmentGrp/BookValueAmt01
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02983
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02984
IRS990ScheduleD/ExpensesSubtotalAmt0636350
IRS990ScheduleD/LandGrp/BookValueAmt0175153
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0175153
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01059237
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11965
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LEASES RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01059237
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt141265
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0UNEARNED LEASE REVENUE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1REVENUE COLLECTED IN ADVANCE
IRS990ScheduleD/RevenueSubtotalAmt0676763
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03170732
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01061202
IRS990ScheduleD/TotalExpensesPerForm990Amt0636350
IRS990ScheduleD/TotalLiabilityAmt01100502
IRS990ScheduleD/TotalRevenuePerForm990Amt0676763
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0676763
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0636350
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/TotalAssetsBOYAmt08524921
IRS990/TotalAssetsEOYAmt07047109
IRS990/TotalAssetsGrp/BOYAmt08524921
IRS990/TotalAssetsGrp/EOYAmt07047109
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt033423
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0602927
IRS990/TotalFunctionalExpensesGrp/TotalAmt0636350
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04238628
IRS990/TotalLiabilitiesEOYAmt02720403
IRS990/TotalLiabilitiesGrp/BOYAmt04238628
IRS990/TotalLiabilitiesGrp/EOYAmt02720403
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04286293
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04326706
IRS990/TotalOtherCompensationAmt07928
IRS990/TotalProgramServiceExpensesAmt0602927
IRS990/TotalProgramServiceRevenueAmt0701389
IRS990/TotalReportableCompFromOrgAmt065688
IRS990/TotalRevenueGrp/ExclusionAmt0228253
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0448510
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0676763
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08524921
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07047109
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 979
IRS990/USAddress/CityNm0WARTBURG
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037887
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LISA COLLETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04233469400
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-12
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

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