Civic Intelligence

Mmrc Regional Industrial Development Authority Inc

990 • Fiscal year 2020 • EIN 61-1322607

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 26, 2020

Organization Profile
100 Lake Park DriveMorehead, KY 40351

(606) 784-5874

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.73x

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

2020 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

14.75x

Higher debt load relative to revenue than 98% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2020

Net Margin

59th percentile

8.4%

Higher net margin than 59% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2020

Asset Growth

98th percentile

93%

Faster asset growth than 98% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

99th percentile

1142%

Faster revenue growth than 99% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$10,176,371

Up $4,898,215 (+93%) from 2019

Net Assets

Up

$2,777,111

Up $5,020,923 (+224%) from 2019

Liabilities

Down

$7,399,260

Down $122,708 (-1.6%) from 2019

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin59th percentile

Revenue

Up

$501,659

Up $461,258 (+1142%) from 2019

Expenses

Down

$459,682

Down $4,769,128 (-91%) from 2019

Net Income

Up

$41,977

Up $5,230,386 (+101%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2011: $4,498,636Liabilities 2011: $0Net Assets 2011: $4,498,6362011Assets 2012: $5,412,434Liabilities 2012: $652,923Net Assets 2012: $4,759,5112012Assets 2013: $5,756,287Liabilities 2013: $1,007,249Net Assets 2013: $4,749,0382013Assets 2014: $4,959,008Liabilities 2014: $808,432Net Assets 2014: $4,150,5762014Assets 2015: $4,655,694Liabilities 2015: $800,000Net Assets 2015: $3,855,6942015Assets 2016: $4,479,075Liabilities 2016: $802,753Net Assets 2016: $3,676,3222016Assets 2017: $4,305,210Liabilities 2017: $802,753Net Assets 2017: $3,502,4572017Assets 2018: $4,222,458Liabilities 2018: $1,277,861Net Assets 2018: $2,944,5972018Assets 2019: $5,278,156Liabilities 2019: $7,521,968Net Assets 2019: -$2,243,8122019Assets 2020: $10,176,371Liabilities 2020: $7,399,260Net Assets 2020: $2,777,1112020Assets 2021: $10,091,101Liabilities 2021: $6,457,407Net Assets 2021: $3,633,6942021Assets 2022: $9,870,893Liabilities 2022: $6,313,167Net Assets 2022: $3,557,7262022Assets 2024: $3,100,308Liabilities 2024: $0Net Assets 2024: $3,100,3082024Assets 2025: $2,907,959Liabilities 2025: $0Net Assets 2025: $2,907,9592025

Highlighted filing

2020

Assets$10,176,371
Liabilities$7,399,260
Net Assets$2,777,111
Open 2020 Filing

Operations Trend

Revenue Growth99th percentile

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

$10M$5.0M$0-$5.0M-$10MRevenue 2011: $217,050Expenses 2011: $254,928Net Income 2011: -$37,8782011Revenue 2012: $8,867Expenses 2012: $95,154Net Income 2012: -$86,2872012Revenue 2013: $22,156Expenses 2013: $32,629Net Income 2013: -$10,4732013Revenue 2014: $17,331Expenses 2014: $351,021Net Income 2014: -$333,6902014Revenue 2015: $188,991Expenses 2015: $626,072Net Income 2015: -$437,0812015Revenue 2016: $160,997Expenses 2016: $480,258Net Income 2016: -$319,2612016Revenue 2017: $211,366Expenses 2017: $508,310Net Income 2017: -$296,9442017Revenue 2018: $843,460Expenses 2018: $1,493,038Net Income 2018: -$649,5782018Revenue 2019: $40,401Expenses 2019: $5,228,810Net Income 2019: -$5,188,4092019Revenue 2020: $501,659Expenses 2020: $459,682Net Income 2020: $41,9772020Revenue 2021: $880,552Expenses 2021: $556,134Net Income 2021: $324,4182021Revenue 2022: $476,349Expenses 2022: $499,217Net Income 2022: -$22,8682022Revenue 2024: $119,449Expenses 2024: $417,741Net Income 2024: -$298,2922024Revenue 2025: $110,988Expenses 2025: $302,273Net Income 2025: -$191,2852025

Highlighted filing

2020

Revenue$501,659
Expenses$459,682
Net Income$41,977
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 26, 2020
Return Version
2019v5.1
Gross Receipts
$501,659
Mission and Program Overview

Mission

Act as an independent agency and instrumentality and constituted authority of counties of meifee, morgan, rowan and crater in the acquisition financing and development of the regional industrial park

Act as an Independent agency and instrumentality and constituted authority of counties of Menifee Morgan Rowan and Cater in the acquisition financing and development of the regional industrial park

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,217,929$6,721,005▲ $5,503,076
Inventories for Sale or Use$2,474,123$2,474,123→ $0
Cash and Non-Interest-Bearing Accounts$1,585,657$980,796▼ $604,861
Pledges and Grants Receivable$447$447→ $0
Total Assets$5,278,156$10,176,371▲ $4,898,215
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,521,968$7,399,260▼ $122,708
Total Liabilities$7,521,968$7,399,260▼ $122,708
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-2,243,812$2,749,711▲ $4,993,523
Net Assets With Donor Restrictions-$27,400-
Total Net Assets Fund Balance$-2,243,812$2,777,111▲ $5,020,923
Total Liabilities and Net Assets / Fund Balance$5,278,156$10,176,371▲ $4,898,215

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,090,399$1,276,502$7,366,901
Leasehold Improvements$547,977$3,227,042$3,775,019
Land$82,629-$82,629
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Mike HeltonPresident
Bob HeltonDirector
Debbie LittleDirector
Shayne IsonDirector
Charles DerricksonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$81,256
Program Service Revenue
$0
Investment Income
$403
Other Revenue
$420,000
Change in Net Assets
$41,977

Audited Revenue Reconciliation

Revenue per Audited Statements
$501,659
Total Revenue per Audited Statements
$501,659
Total Revenue per Form 990
$501,659
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$459,682
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest-$228,892-$228,892
Depreciation Depletion$178,493--$178,493
Other Expenses$16,427$110-$16,427
Travel$9,993--$9,993
Insurance$7,669--$7,669
Fees for Services Legal$6,170--$6,170
Fees for Services Accounting$6,050--$6,050
Occupancy$5,863--$5,863
Total Functional Expenses$230,665$229,017$0$459,682

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$461,279
Total Expenses per Audited Statements$461,279
Total Expenses per Form 990$459,682
Expenses Not Reported on Financial Statements$-1,597
Other Expense Adjustments$-1,597
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
Yes
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
Yes
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 governing body review Part VI line 11

“the board reviews the 990 tax return”

CEO executive director top management comp Part VI line 15A

“compensation is determined by the board”

Form 990 availability to public Part VI line 18

“990 is available to the public upon request”

Governing documents etc available to public Part VI line 19

“documents are available to the public upon request”

Filing and Contact Details

Filer

Filer Name
MMRC Regional Industrial Developmen
EIN
61-1322607
Address
100 Lake Park Drive, Morehead, KY 40351

Signing Officer

Name
Bob Helton
Title
Director
Phone
6067845874
Signed
2020-10-26
Discuss with paid preparer
Yes

Organization Details

Formed
1998
Legal Domicile
Ky
Voting Board Members
5
Independent Board Members
0
Employees
0

Preparer

Firm
Donna J Hendrix PSC CPA
Address
PO Box 449, Morehead, KY 40351
Preparer
Sherman Sparks
Phone
6067844451
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“difference in book depreciation and tax depreciation”

List of other expenses Part IX line 24E

“Donation was given to Maysville Community College and Gods Pantry to help fund new buildings”

Raw XML Appendix342 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3documents are available to the public upon request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4difference in book depreciation and tax depreciation
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Donation was given to Maysville Community College and Gods Pantry to help fund new buildings
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 availability to public Part VI line 18
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other expenses Part IX line 24e
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IRS990/TotalAssetsEOYAmt010176371
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt081256
IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0229017
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0230665
IRS990/TotalFunctionalExpensesGrp/TotalAmt0459682
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0501659
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ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Bob Helton
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/PhoneNum06067845874
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MMRC Regional Industrial Developmen
ReturnHeader/Filer/BusinessNameControlTxt0MMRC
ReturnHeader/Filer/EIN0611322607
ReturnHeader/Filer/USAddress/AddressLine1Txt0100 Lake Park Drive
ReturnHeader/Filer/USAddress/CityNm0Morehead
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd040351
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId06128D7A37771D328B4911CC0EDEC5DFB84851651
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ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId06122342020302qbdmo2x
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02020-10-28
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt050.96.211.217
ReturnHeader/FilingSecurityInformation/IPDt02020-10-28
ReturnHeader/FilingSecurityInformation/IPTm009:48:07
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205528401
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Donna J Hendrix PSC CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO Box 449
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Morehead
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd040351
ReturnHeader/PreparerPersonGrp/PhoneNum06067844451
ReturnHeader/PreparerPersonGrp/PreparationDt02020-10-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Sherman Sparks
ReturnHeader/ReturnTs02020-10-26T13:49:29-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,176,371
Liabilities
$7,399,260
Net assets
$2,777,111
Revenue
$501,659
Expenses
$459,682
Net income
$41,977
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.91$0.00$2.91$0.11$0.30$0.19
2024Detailed filing. Detailed filing data is available for this year.$3.10$0.00$3.10$0.12$0.42$0.30
2022Detailed filing. Detailed filing data is available for this year.$9.87$6.31$3.56$0.48$0.50$0.02
2021Detailed filing. Detailed filing data is available for this year.$10.1$6.46$3.63$0.88$0.56$0.32
2020Detailed filing. Detailed filing data is available for this year.$10.2$7.40$2.78$0.50$0.46$0.04
2019Detailed filing. Detailed filing data is available for this year.$5.28$7.52$2.24$0.04$5.23$5.19
2018Detailed filing. Detailed filing data is available for this year.$4.22$1.28$2.94$0.84$1.49$0.65
2017Detailed filing. Detailed filing data is available for this year.$4.31$0.80$3.50$0.21$0.51$0.30
2016Detailed filing. Detailed filing data is available for this year.$4.48$0.80$3.68$0.16$0.48$0.32
2015Detailed filing. Detailed filing data is available for this year.$4.66$0.80$3.86$0.19$0.63$0.44
2014Detailed filing. Detailed filing data is available for this year.$4.96$0.81$4.15$0.02$0.35$0.33
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.76$1.01$4.75$0.02$0.03$0.01
2012Summary only. Only limited summary data is available for this year.$5.41$0.65$4.76$0.01$0.10$0.09
2011Summary only. Only limited summary data is available for this year.$4.50$0.00$4.50$0.22$0.25$0.04