Civic Intelligence

Mmrc Regional Industrial Development Authority Inc

990 • Fiscal year 2016 • EIN 61-1322607

Jul 01, 2015 to Jun 30, 2016 • Filed on Oct 28, 2016

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

49th percentile

0.18x

Higher debt load relative to assets than 49% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

99th percentile

4.99x

Higher debt load relative to revenue than 99% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Net Margin

1st percentile

-198%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Asset Growth

24th percentile

-3.8%

Faster asset growth than 24% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

10th percentile

-15%

Faster revenue growth than 10% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets49th percentile

Assets

Down

$4,479,075

Down $176,619 (-3.8%) from 2015

Net Assets

Down

$3,676,322

Down $179,372 (-4.7%) from 2015

Liabilities

Up

$802,753

Up $2,753 (+0.3%) from 2015

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

Down

$160,997

Down $27,994 (-15%) from 2015

Expenses

Down

$480,258

Down $145,814 (-23%) from 2015

Net Income

Up

-$319,261

Up $117,820 (+27%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth24th 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

2016

Assets$4,479,075
Liabilities$802,753
Net Assets$3,676,322
Open 2016 Filing

Operations Trend

Revenue Growth10th 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

2016

Revenue$160,997
Expenses$480,258
Net Income-$319,261
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Oct 28, 2016
Return Version
2015v2.1
Gross Receipts
$160,997
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
Inventories for Sale or Use$2,474,123$2,474,123→ $0
Land, Buildings, and Equipment, Net$1,885,676$1,742,652▼ $143,024
Cash and Non-Interest-Bearing Accounts$295,895$190,333▼ $105,562
Pledges and Grants Receivable-$71,967-
Total Assets$4,655,694$4,479,075▼ $176,619
Liabilities
Mortgage Notes Payable Secured by Investment Property$800,000$802,753▲ $2,753
Total Liabilities$800,000$802,753▲ $2,753
Net Assets / Fund Balance
Unrestricted Net Assets$3,855,694$3,676,322▼ $179,372
Total Net Assets Fund Balance$3,855,694$3,676,322▼ $179,372
Total Liabilities and Net Assets / Fund Balance$4,655,694$4,479,075▼ $176,619

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,171,538$2,490,748$3,662,286
Buildings$488,485$975,753$1,464,238
Land$82,629-$82,629
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$156,216
Program Service Revenue
$0
Investment Income
$31
Other Revenue
$4,750
Change in Net Assets
$-319,261
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$480,258
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
Depreciation Depletion$286,333--$286,333
Other Expenses$135,714$125-$135,714
Interest$29,469--$29,469
Occupancy-$21,784-$21,784
Fees for Services Accounting-$6,450-$6,450
Office Expenses-$383-$383
Total Functional Expenses$451,516$28,742$0$480,258
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 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
2016-10-28
Discuss with paid preparer
Yes

Organization Details

Formed
1998
Legal Domicile
Ky
Voting Board Members
6
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 Appendix316 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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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04655694
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04479075
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt03855694
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03676322
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt00
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Bob Helton
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/PhoneNum06067845874
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-10-28
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/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/PreparationDt02016-10-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Sherman Sparks
ReturnHeader/ReturnTs02016-10-28T09:33:23-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,479,075
Liabilities
$802,753
Net assets
$3,676,322
Revenue
$160,997
Expenses
$480,258
Net income
-$319,261
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