Civic Intelligence

Webster County Economic Development

990 • Fiscal year 2014 • EIN 61-1155497

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 05, 2014

Organization ProfileN/A
PO Box 29642409

(270) 639-5042

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Net Margin

44th percentile

2.1%

Higher net margin than 44% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Asset Growth

35th percentile

0.0%

Faster asset growth than 35% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

1st percentile

-98%

Faster revenue growth than 1% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$3,898,556

Up $1,399 (+0.0%) from 2013

Net Assets

Up

$3,898,556

Up $1,399 (+0.0%) from 2013

Liabilities

Flat

$0

Flat from 2013

Revenue And Expenses
Liabilities / Revenue9th percentileNet Margin44th percentile

Revenue

Down

$66,996

Down $2,633,312 (-98%) from 2013

Expenses

Down

$65,597

Down $145,318 (-69%) from 2013

Net Income

Down

$1,399

Down $2,487,994 (-100%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $1,402,101Liabilities 2011: $0Net Assets 2011: $1,402,1012011Assets 2012: $1,407,764Liabilities 2012: $0Net Assets 2012: $1,407,7642012Assets 2013: $3,897,157Liabilities 2013: $0Net Assets 2013: $3,897,1572013Assets 2014: $3,898,556Liabilities 2014: $0Net Assets 2014: $3,898,5562014Assets 2015: $3,675,558Liabilities 2015: $0Net Assets 2015: $3,675,5582015Assets 2016: $3,659,954Liabilities 2016: $0Net Assets 2016: $3,659,9542016Assets 2017: $3,429,820Liabilities 2017: $0Net Assets 2017: $3,429,8202017Assets 2018: $3,254,009Liabilities 2018: $0Net Assets 2018: $3,254,0092018Assets 2019: $3,076,820Liabilities 2019: $0Net Assets 2019: $3,076,8202019Assets 2020: $3,132,817Liabilities 2020: $0Net Assets 2020: $3,132,8172020Assets 2021: $3,184,157Liabilities 2021: $0Net Assets 2021: $3,184,1572021Assets 2022: $117,236Liabilities 2022: $0Net Assets 2022: $117,2362022Assets 2023: $62,585Liabilities 2023: $0Net Assets 2023: $62,5852023Assets 2024: $62,176Liabilities 2024: $0Net Assets 2024: $62,1762024

Highlighted filing

2014

Assets$3,898,556
Liabilities$0
Net Assets$3,898,556
Open 2014 Filing

Operations Trend

Revenue Growth1st percentile

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

$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2011: $35,645Expenses 2011: $37,730Net Income 2011: -$2,0852011Revenue 2012: $33,094Expenses 2012: $27,431Net Income 2012: $5,6632012Revenue 2013: $2,700,308Expenses 2013: $210,915Net Income 2013: $2,489,3932013Revenue 2014: $66,996Expenses 2014: $65,597Net Income 2014: $1,3992014Revenue 2015: $125,384Expenses 2015: $348,382Net Income 2015: -$222,9982015Revenue 2016: $73,870Expenses 2016: $89,474Net Income 2016: -$15,6042016Revenue 2017: $65,039Expenses 2017: $295,173Net Income 2017: -$230,1342017Revenue 2018: $107,769Expenses 2018: $283,580Net Income 2018: -$175,8112018Revenue 2019: $88,214Expenses 2019: $265,403Net Income 2019: -$177,1892019Revenue 2020: $62,041Expenses 2020: $6,044Net Income 2020: $55,9972020Revenue 2021: $55,145Expenses 2021: $3,805Net Income 2021: $51,3402021Revenue 2022: $22,798Expenses 2022: $3,089,719Net Income 2022: -$3,066,9212022Revenue 2023: $424Expenses 2023: $55,075Net Income 2023: -$54,6512023Revenue 2024: $404Expenses 2024: $813Net Income 2024: -$4092024

Highlighted filing

2014

Revenue$66,996
Expenses$65,597
Net Income$1,399
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 5, 2014
Return Version
2013v3.1
Gross Receipts
$66,996
Mission and Program Overview

Mission

To promote economic development in webster county by creating opportunities in conjunction with other organizations to obtain grants and provide seed money to new and existing businesses under state mandated guidelines for such monies.

To promote economic development in Webster County by creating opportunities in conjunction with other organizations to obtain grants and provide seed money to new and existing business under state mandated guidelines for such monies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,151,663$2,338,364▲ $186,701
Other Notes and Loans Receivable, Net$1,745,493$1,560,192▼ $185,301
Cash and Non-Interest-Bearing Accounts$1$0▼ $1
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$3,897,157$3,898,556▲ $1,399
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Temporarily Rstr Net Assets$3,857,752$3,832,616▼ $25,136
Unrestricted Net Assets$39,405$65,940▲ $26,535
Total Net Assets Fund Balance$3,897,157$3,898,556▲ $1,399
Total Liabilities and Net Assets / Fund Balance$3,897,157$3,898,556▲ $1,399
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Steven WhitsellChairman
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$66,996
Other Revenue
$0
Change in Net Assets
$1,399
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$58,541
Other Expenses$7,056
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$58,541--$58,541
Fees for Services Legal-$4,410-$4,410
Insurance-$2,209-$2,209
Other Expenses-$350-$350
Office Expenses-$87-$87
Total Functional Expenses$58,541$7,056$0$65,597
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
61-1018220-501(c)4Community Educational Improvmnt Forum$25,000
61-1018220--Work Ready Communities Program$22,223
61-1320380-501(c)4Workready Community Grant$10,818
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Shellie K UtleyBoard MemberTax Return PreparationNo$350

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Shares in the Corporation shall be sold to individuals or businesses at the rate of $50.00(fifty dollars) per share. An individual business or other corporation shall be entitled to own only one share in this Corporation and thus will be entitled to but one vote in the management of affairs of the Corporation. The business and affairs of the Corporation shall be managed by its Board of Directors. The Director must have a vested interest in Webster County Kentucky and shareholders of the Corporation.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“All business matters undertaken by the Corporation shall be approved at any meeting that a quorum is present. A quorum is a majority of the active or currently seated directors, vacancies are not counted.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The Executive Director and Finance committee review the Form 990 for completeness and accuracy.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The Webster County Economic Development Corporation will make its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

EIN
61-1155497
Phone
2706395042

Signing Officer

Name
Steven R Whitsell
Title
Executive Director
Signed
2014-11-05
Discuss with paid preparer
Yes

Organization Details

Formed
1986
Legal Domicile
Ky
Voting Board Members
15
Independent Board Members
15
Employees
0

Preparer

Preparer
Shellie K Utley CPA
Phone
2708213355
Raw XML Appendix318 raw XML fields

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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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Community Educational Improvmnt Forum
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Work Ready Communities Program
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine10Madisonville Community Collg
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine11Northwest Kentucky Forward
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine12Northwest Ky Training Center
IRS990ScheduleI/RecipientTable/RecipientEIN0611320380
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IRS990ScheduleI/RecipientTable/RecipientEIN2611018220
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine11145 N Main St 500
IRS990ScheduleI/RecipientTable/USAddress/AddressLine12145 N Main St 500
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IRS990ScheduleI/RecipientTable/USAddress/City1Henderson
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Shares in the Corporation shall be sold to individuals or businesses at the rate of $50.00(fifty dollars) per share. An individual business or other corporation shall be entitled to own only one share in this Corporation and thus will be entitled to but one vote in the management of affairs of the Corporation. The business and affairs of the Corporation shall be managed by its Board of Directors. The Director must have a vested interest in Webster County Kentucky and shareholders of the Corporation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All business matters undertaken by the Corporation shall be approved at any meeting that a quorum is present. A quorum is a majority of the active or currently seated directors, vacancies are not counted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Executive Director and Finance committee review the Form 990 for completeness and accuracy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Webster County Economic Development Corporation will make its governing documents, conflict of interest policy, and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03897157
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03898556
IRS990/TotalProgramServiceExpensesAmt058541
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt066996
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt066996
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03897157
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03898556
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt039405
IRS990/UnrestrictedNetAssetsGrp/EOYAmt065940
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Steven R Whitsell
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-11-05
ReturnHeader/Filer/BusinessName/BusinessNameLine10Webster County Economic Development
ReturnHeader/Filer/BusinessNameControlTxt0WEBS
ReturnHeader/Filer/EIN0611155497
ReturnHeader/Filer/PhoneNum02706395042
ReturnHeader/Filer/USAddress/AddressLine10PO Box 296
ReturnHeader/Filer/USAddress/City0Dixon
ReturnHeader/Filer/USAddress/State0KY
ReturnHeader/Filer/USAddress/ZIPCode042409
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10Berry Kington & Utley PSC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine102822 North Main St
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Madisonville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode042431
ReturnHeader/PreparerPersonGrp/PhoneNum02708213355
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Shellie K Utley CPA
ReturnHeader/ReturnTs02014-11-05T12:39:31-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,898,556
Liabilities
$0
Net assets
$3,898,556
Revenue
$66,996
Expenses
$65,597
Net income
$1,399
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.00$0.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.00$0.06$0.05
2022Detailed filing. Detailed filing data is available for this year.$0.12$0.00$0.12$0.02$3.09$3.07
2021Detailed filing. Detailed filing data is available for this year.$3.18$0.00$3.18$0.06$0.00$0.05
2020Detailed filing. Detailed filing data is available for this year.$3.13$0.00$3.13$0.06$0.01$0.06
2019Detailed filing. Detailed filing data is available for this year.$3.08$0.00$3.08$0.09$0.27$0.18
2018Detailed filing. Detailed filing data is available for this year.$3.25$0.00$3.25$0.11$0.28$0.18
2017Detailed filing. Detailed filing data is available for this year.$3.43$0.00$3.43$0.07$0.30$0.23
2016Detailed filing. Detailed filing data is available for this year.$3.66$0.00$3.66$0.07$0.09$0.02
2015Detailed filing. Detailed filing data is available for this year.$3.68$0.00$3.68$0.13$0.35$0.22
2014Detailed filing. Detailed filing data is available for this year.$3.90$0.00$3.90$0.07$0.07$0.00
2013Summary only. Only limited summary data is available for this year.$3.90$0.00$3.90$2.70$0.21$2.49
2012Summary only. Only limited summary data is available for this year.$1.41$0.00$1.41$0.03$0.03$0.01
2011Summary only. Only limited summary data is available for this year.$1.40$0.00$1.40$0.04$0.04$0.00