Civic Intelligence

Prestonsburg Economic Development Foundation

990 • Fiscal year 2015 • EIN 61-1326954

Jan 01, 2015 to Dec 31, 2015 • Filed on Jun 30, 2016

311 N Arnold AvenuePrestonsburg, KY 41653-1281

(606) 886-6946

Siviq Scores

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

Liabilities / Assets

74th percentile

0.32x

Higher debt load relative to assets than 74% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

99th percentile

21.13x

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

2015 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2015

Net Margin

18th percentile

-9.7%

Higher net margin than 18% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

57th percentile

$0

Higher top officer pay than 57% of similar nonprofits.

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

2015 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2015

Asset Growth

94th percentile

46%

Faster asset growth than 94% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

42nd percentile

0.2%

Faster revenue growth than 42% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Up

$1,109,212

Up $348,391 (+46%) from 2014

Net Assets

Down

$759,212

Down $1,609 (-0.2%) from 2014

Liabilities

Up

$350,000

Up $350,000 from 2014

Revenue

Up

$16,563

Up $27 (+0.2%) from 2014

Expenses

Up

$18,172

Up $3,572 (+24%) from 2014

Net Income

Down

-$1,609

Down $3,545 (-183%) from 2014

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2011: $758,645Liabilities 2011: $0Net Assets 2011: $758,6452011Assets 2012: $756,043Liabilities 2012: $0Net Assets 2012: $756,0432012Assets 2013: $758,885Liabilities 2013: $0Net Assets 2013: $758,8852013Assets 2014: $760,821Liabilities 2014: $0Net Assets 2014: $760,8212014Assets 2015: $1,109,212Liabilities 2015: $350,000Net Assets 2015: $759,2122015Assets 2016: $1,086,783Liabilities 2016: $350,000Net Assets 2016: $736,7832016Assets 2017: $1,074,020Liabilities 2017: $350,000Net Assets 2017: $724,0202017Assets 2018: $1,057,823Liabilities 2018: $350,000Net Assets 2018: $707,8232018Assets 2019: $1,042,092Liabilities 2019: $350,000Net Assets 2019: $692,0922019Assets 2020: $1,045,992Liabilities 2020: $350,000Net Assets 2020: $695,9922020Assets 2021: $1,035,295Liabilities 2021: $350,000Net Assets 2021: $685,2952021Assets 2022: $1,015,375Liabilities 2022: $338,843Net Assets 2022: $676,5322022Assets 2023: $999,496Liabilities 2023: $344,338Net Assets 2023: $655,1582023Assets 2024: $661,283Liabilities 2024: $0Net Assets 2024: $661,2832024Assets 2025: $653,218Liabilities 2025: $0Net Assets 2025: $653,2182025

Highlighted filing

2015

Assets$1,109,212
Liabilities$350,000
Net Assets$759,212

Operations Trend

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

$50K$0-$50K-$100KRevenue 2011: -$32,083Expenses 2011: $42,247Net Income 2011: -$74,3302011Revenue 2012: $16,272Expenses 2012: $18,874Net Income 2012: -$2,6022012Revenue 2013: $15,273Expenses 2013: $12,431Net Income 2013: $2,8422013Revenue 2014: $16,536Expenses 2014: $14,600Net Income 2014: $1,9362014Revenue 2015: $16,563Expenses 2015: $18,172Net Income 2015: -$1,6092015Revenue 2016: $13,722Expenses 2016: $36,151Net Income 2016: -$22,4292016Revenue 2017: $14,214Expenses 2017: $26,977Net Income 2017: -$12,7632017Revenue 2018: $14,160Expenses 2018: $30,357Net Income 2018: -$16,1972018Revenue 2019: $14,663Expenses 2019: $30,394Net Income 2019: -$15,7312019Revenue 2020: $24,602Expenses 2020: $20,701Net Income 2020: $3,9012020Revenue 2021: $15,543Expenses 2021: $26,240Net Income 2021: -$10,6972021Revenue 2022: $17,297Expenses 2022: $26,060Net Income 2022: -$8,7632022Revenue 2023: $17,288Expenses 2023: $38,662Net Income 2023: -$21,3742023Revenue 2024: $24,728Expenses 2024: $18,603Net Income 2024: $6,1252024Revenue 2025: $27,364Expenses 2025: $35,429Net Income 2025: -$8,0652025

Highlighted filing

2015

Revenue$16,563
Expenses$18,172
Net Income-$1,609
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jun 30, 2016
Return Version
2015v2.1
Gross Receipts
$16,563
Mission and Program Overview

Mission

The organizations primary mission is to perform industrial development that will improve the community.

Industrial development to improve community

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$597,919$955,129▲ $357,210
Rtn Earn Endowment Incm Other Fnds$760,821$759,212▼ $1,609
Cash and Non-Interest-Bearing Accounts$162,902$154,083▼ $8,819
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$760,821$1,109,212▲ $348,391
Liabilities
Mortgage Notes Payable Secured by Investment Property-$350,000-
Total Liabilities$0$350,000▲ $350,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$760,821$759,212▼ $1,609
Total Liabilities and Net Assets / Fund Balance$760,821$1,109,212▲ $348,391

Asset Categories

AssetBook ValueDepreciationBasis
Land$926,543-$926,543
Buildings$28,586$6,414$35,000
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$67
Other Revenue
$16,496
Change in Net Assets
$-1,609
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$18,172
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
Fees for Services Legal-$1,764-$1,764
Interest-$1,637-$1,637
Fees for Services Accounting-$1,486-$1,486
Depreciation Depletion-$1,272-$1,272
Insurance-$955-$955
Other Expenses-$200-$200
Office Expenses-$149-$149
Advertising-$107-$107
Total Functional Expenses$0$18,172$0$18,172
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Beau SpurlockDIRECTOR AND PARTIAL OWNER OF ORGANIZATION'S BANKOnly Normal Third-party Business Transactions Occur Between the Organization and Its Bank. These Are All Arms-length Transactions.No-
Burl W SpurlockDIRECTOR AND PARTIAL OWNER OF ORGANIZATION'S BANKOnly Normal Third-party Business Transactions Occur Between the Organization and Its Bank. These Are All Arms-length Transactions.No-
Edward R NairnDIRECTOR OF ORGINATION'S BANKOnly Normal Third-party Business Transactions Occur Between the Organization and Its Bank. These Are All Arms-length Transactions.No-
Estill L CarterDIRECTOR OF ORGINATION'S BANKOnly Normal Third-party Business Transactions Occur Between the Organization and Its Bank. These Are All Arms-length Transactions.No-
Greg WilsonPRESIDENT, DIRECTOR AND PARTIAL OWNER OF ORGANIZATION'S BANKOnly Normal Third-party Business Transactions Occur Between the Organization and Its Bank.these Are All Arms-length Transactions.No-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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, Part VI, Section A, Line 2

Board members burl spurlock and beau spurlock are father and son, as are board members edward r. Nairn and thomas nairn. Greg wilson is the nephew of burl spurlock by marriage.

Form 990, Part VI, Section B, Line 11

The tax return is prepared by a regional cpa firm on behalf of the board. Various board members review the return and any related schedules prior to its filing. Any inaccuracies found at that time are discussed with the cpa and corrections are made before the organization files the tax return.

Form 990, Part VI, Section C, Line 19

No documents, policies, etc. Are regularly published. Upon request, the organization provides copies of its governing documents and policies as well as any financial statements that have been prepared.

Filing and Contact Details

Filer

Filer Name
Prestonsburg Industrial Corporation
EIN
61-1326954
Phone
6068866946
Address
311 N ARNOLD AVENUE, PRESTONSBURG, KY 41653-1281

Signing Officer

Name
Burl W Spurlock
Title
Secretary
Phone
6068862321
Signed
2016-06-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Burl W Spurlock
Formed
2004
Legal Domicile
Ky
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
0

Preparer

Firm
Griffith Delaney Hillman & Co
Address
PO BOX 1360, ASHLAND, KY 41105-1360
Preparer
Tracy Neal Hillman
Phone
6063291656
Raw XML Appendix344 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.

Path#Value
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
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IRS990/Form990PartVIISectionAGrp/PersonNm4CARMEL SPEARS
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IRS990/Form990PartVIISectionAGrp/PersonNm6BEAU SPURLOCK
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1DIRECTOR AND PARTIAL OWNER OF ORGANIZATION'S BANK
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2DIRECTOR OF ORGINATION'S BANK
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt3DIRECTOR OF ORGINATION'S BANK
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt4PRESIDENT, DIRECTOR AND PARTIAL OWNER OF ORGANIZATION'S BANK
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0ONLY NORMAL THIRD-PARTY BUSINESS TRANSACTIONS OCCUR BETWEEN THE ORGANIZATION AND ITS BANK. THESE ARE ALL ARMS-LENGTH TRANSACTIONS.
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1ONLY NORMAL THIRD-PARTY BUSINESS TRANSACTIONS OCCUR BETWEEN THE ORGANIZATION AND ITS BANK. THESE ARE ALL ARMS-LENGTH TRANSACTIONS.
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2ONLY NORMAL THIRD-PARTY BUSINESS TRANSACTIONS OCCUR BETWEEN THE ORGANIZATION AND ITS BANK. THESE ARE ALL ARMS-LENGTH TRANSACTIONS.
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc3ONLY NORMAL THIRD-PARTY BUSINESS TRANSACTIONS OCCUR BETWEEN THE ORGANIZATION AND ITS BANK. THESE ARE ALL ARMS-LENGTH TRANSACTIONS.
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc4ONLY NORMAL THIRD-PARTY BUSINESS TRANSACTIONS OCCUR BETWEEN THE ORGANIZATION AND ITS BANK.THESE ARE ALL ARMS-LENGTH TRANSACTIONS.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD MEMBERS BURL SPURLOCK AND BEAU SPURLOCK ARE FATHER AND SON, AS ARE BOARD MEMBERS EDWARD R. NAIRN AND THOMAS NAIRN. GREG WILSON IS THE NEPHEW OF BURL SPURLOCK BY MARRIAGE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TAX RETURN IS PREPARED BY A REGIONAL CPA FIRM ON BEHALF OF THE BOARD. VARIOUS BOARD MEMBERS REVIEW THE RETURN AND ANY RELATED SCHEDULES PRIOR TO ITS FILING. ANY INACCURACIES FOUND AT THAT TIME ARE DISCUSSED WITH THE CPA AND CORRECTIONS ARE MADE BEFORE THE ORGANIZATION FILES THE TAX RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS, POLICIES, ETC. ARE REGULARLY PUBLISHED. UPON REQUEST, THE ORGANIZATION PROVIDES COPIES OF ITS GOVERNING DOCUMENTS AND POLICIES AS WELL AS ANY FINANCIAL STATEMENTS THAT HAVE BEEN PREPARED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0760821
IRS990/TotalAssetsEOYAmt01109212
IRS990/TotalAssetsGrp/BOYAmt0760821
IRS990/TotalAssetsGrp/EOYAmt01109212
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt018172
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt018172
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt0350000
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0350000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0760821
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0759212
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0358482
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt016563
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt016563
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0760821
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01109212
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0311 N ARNOLD AVENUE
IRS990/USAddress/CityNm0PRESTONSBURG
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd041653
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BURL W SPURLOCK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum06068862321
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-06-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PRESTONSBURG INDUSTRIAL CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0PRES
ReturnHeader/Filer/EIN0611326954
ReturnHeader/Filer/PhoneNum06068866946
ReturnHeader/Filer/USAddress/AddressLine1Txt0311 N ARNOLD AVENUE
ReturnHeader/Filer/USAddress/CityNm0PRESTONSBURG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd0416531281
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0611223180
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GRIFFITH DELANEY HILLMAN & CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1360
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ASHLAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0411051360
ReturnHeader/PreparerPersonGrp/PhoneNum06063291656
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TRACY NEAL HILLMAN
ReturnHeader/ReturnTs02016-07-08T12:25:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.65$0.00$0.65$0.03$0.04$0.01
2024Detailed filing. Detailed filing data is available for this year.$0.66$0.00$0.66$0.02$0.02$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.00$0.34$0.66$0.02$0.04$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.02$0.34$0.68$0.02$0.03$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.04$0.35$0.69$0.02$0.03$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.05$0.35$0.70$0.02$0.02$0.00
2019Detailed filing. Detailed filing data is available for this year.$1.04$0.35$0.69$0.01$0.03$0.02
2018Summary only. Only limited summary data is available for this year.$1.06$0.35$0.71$0.01$0.03$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.07$0.35$0.72$0.01$0.03$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.09$0.35$0.74$0.01$0.04$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.11$0.35$0.76$0.02$0.02$0.00
2014Summary only. Only limited summary data is available for this year.$0.76$0.00$0.76$0.02$0.01$0.00
2013Summary only. Only limited summary data is available for this year.$0.76$0.00$0.76$0.02$0.01$0.00
2012Summary only. Only limited summary data is available for this year.$0.76$0.00$0.76$0.02$0.02$0.00
2011Summary only. Only limited summary data is available for this year.$0.76$0.00$0.76$0.03$0.04$0.07