Civic Intelligence

Mmrc Regional Industrial Development Authority Inc

990 • Fiscal year 2021 • EIN 61-1322607

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

Organization Profile
150 E First StMorehead, KY 40351

(606) 784-4451

Siviq Scores

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

Liabilities / Assets

89th percentile

0.64x

Higher debt load relative to assets than 89% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

97th percentile

7.33x

Higher debt load relative to revenue than 97% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Net Margin

87th percentile

37%

Higher net margin than 87% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

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

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Asset Growth

12th percentile

-0.8%

Faster asset growth than 12% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

89th percentile

76%

Faster revenue growth than 89% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$10,091,101

Down $85,270 (-0.8%) from 2020

Net Assets

Up

$3,633,694

Up $856,583 (+31%) from 2020

Liabilities

Down

$6,457,407

Down $941,853 (-13%) from 2020

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin87th percentile

Revenue

Up

$880,552

Up $378,893 (+76%) from 2020

Expenses

Up

$556,134

Up $96,452 (+21%) from 2020

Net Income

Up

$324,418

Up $282,441 (+673%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth12th 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

2021

Assets$10,091,101
Liabilities$6,457,407
Net Assets$3,633,694
Open 2021 Filing

Operations Trend

Revenue Growth89th 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

2021

Revenue$880,552
Expenses$556,134
Net Income$324,418
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Feb 12, 2022
Return Version
2020v4.0
Gross Receipts
$2,388,285
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

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,721,005$5,996,189▼ $724,816
Inventories for Sale or Use$2,474,123$2,354,123▼ $120,000
Cash and Non-Interest-Bearing Accounts$980,796$1,345,342▲ $364,546
Pledges and Grants Receivable$447$395,447▲ $395,000
Total Assets$10,176,371$10,091,101▼ $85,270
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,399,260$6,445,769▼ $953,491
Accounts Payable and Accrued Expenses-$11,638-
Total Liabilities$7,399,260$6,457,407▼ $941,853
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,749,711$3,562,894▲ $813,183
Net Assets With Donor Restrictions$27,400$70,800▲ $43,400
Total Net Assets Fund Balance$2,777,111$3,633,694▲ $856,583
Total Liabilities and Net Assets / Fund Balance$10,176,371$10,091,101▼ $85,270
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
Mike HeltonPresident
Jason SloanDirector
Shayne IsonDirector
Sid StewartDirector
Trent HamiltonDirector
Russ WardSecretary
Debbie LittleVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$195,124
Program Service Revenue
$0
Investment Income
$265,428
Other Revenue
$420,000
All Other Contributions
$150,844
Change in Net Assets
$324,418

Audited Revenue Reconciliation

Revenue per Audited Statements
$880,552
Total Revenue per Audited Statements
$880,552
Total Revenue per Form 990
$880,552
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$556,134
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-$211,715-$211,715
Depreciation Depletion$164,534--$164,534
Insurance$17,319--$17,319
Occupancy$10,527--$10,527
Fees for Services Legal$6,738--$6,738
Fees for Services Accounting-$5,800-$5,800
Fees for Services Other-$2,225-$2,225
Other Expenses$807$2,155-$807
Total Functional Expenses$334,239$221,895$0$556,134

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$590,827
Expenses per Audited Statements$556,134
Total Expenses per Form 990$556,134
Expenses Not Reported on Form 990$34,693
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
Backup withholding compliance
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

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Mmrc Regional Industrial
EIN
61-1322607
Address
150 E FIRST ST, MOREHEAD, KY 40351

Signing Officer

Name
Jason Sloan
Title
Director
Signed
2022-02-12

Organization Details

Principal Officer
Sid Stewart
Formed
1998
Legal Domicile
Ky
Voting Board Members
6
Independent Board Members
0
Employees
0

Preparer

Firm
Donna Hendrix CPA Psc
Address
550 W 1ST ST PO BOX 449, MOREHEAD, KY 40351
Preparer
Sherman Sparks
Phone
6067844451
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“True to match audited fianancials 566,858”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

“Book / tax depreciation difference 34,693”

Raw XML Appendix299 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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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JASON SLOAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-02-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MMRC REGIONAL INDUSTRIAL
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT
ReturnHeader/Filer/BusinessNameControlTxt0MMRC
ReturnHeader/Filer/EIN0611322607
ReturnHeader/Filer/USAddress/AddressLine1Txt0150 E FIRST ST
ReturnHeader/Filer/USAddress/CityNm0MOREHEAD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd040351
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205528401
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DONNA HENDRIX CPA PSC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0550 W 1ST ST PO BOX 449
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MOREHEAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd040351
ReturnHeader/PreparerPersonGrp/PhoneNum06067844451
ReturnHeader/PreparerPersonGrp/PreparationDt02022-03-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHERMAN SPARKS
ReturnHeader/ReturnTs02022-03-21T10:26:18-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JASON
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SLOAN
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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Filings

Displayed year

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

Open filing
Assets
$10,091,101
Liabilities
$6,457,407
Net assets
$3,633,694
Revenue
$880,552
Expenses
$556,134
Net income
$324,418
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