Civic Intelligence

Big Sandy Regional Industrial

EIN 61-1338845 • 501(c)3 • Prestonsburg, KY

Profile

Bsrida acts as an regional development organization involved in the acquisition and development of industrial sites, parks, and subdivisions for economic development purposes resulting in job creation and improved economic base of the big sandy region comprised of floyd, johnson, magoffin, martin & pike counties in kentucky

110 Resource CTPrestonsburg, KY 41653
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

66th percentile

0.19x

Higher debt load relative to assets than 66% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

5.72x

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

501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

4th percentile

-82%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Balance Sheet
Liabilities / Assets66th percentile

Assets

Down

$3,064,389

Down $222,843 (-6.8%) from 2023

Liabilities

Down

$611,253

Down $15,879 (-2.5%) from 2023

Net Assets

Down

$2,453,136

Down $206,964 (-7.8%) from 2023

Operations
Liabilities / Revenue97th percentileNet Margin4th percentile

Revenue

Down

$1,410

Down $50,157 (-97%) from 2023

Expenses

Down

$218,947

Down $43,519 (-17%) from 2023

Net Income

Down

-$217,537

Down $6,638 (-3.1%) from 2023

Trend Graphs

Balance Sheet Trend

Asset GrowthScore unavailable

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2021: $3,634,232Liabilities 2021: $680,696Net Assets 2021: $2,953,5362021Assets 2022: $3,519,674Liabilities 2022: $660,179Net Assets 2022: $2,859,4952022Assets 2023: $3,287,232Liabilities 2023: $627,132Net Assets 2023: $2,660,1002023Assets 2024: $3,064,389Liabilities 2024: $611,253Net Assets 2024: $2,453,1362024

Highlighted filing

2024

Assets$3,064,389
Liabilities$611,253
Net Assets$2,453,136
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$200K$0-$200K-$400KRevenue 2021: $27,432Expenses 2021: $187,610Net Income 2021: -$160,1782021Revenue 2022: $115,329Expenses 2022: $209,370Net Income 2022: -$94,0412022Revenue 2023: $51,567Expenses 2023: $262,466Net Income 2023: -$210,8992023Revenue 2024: $1,410Expenses 2024: $218,947Net Income 2024: -$217,5372024

Highlighted filing

2024

Revenue$1,410
Expenses$218,947
Net Income-$217,537
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,064,389
Liabilities
$611,253
Net assets
$2,453,136
Revenue
$1,410
Expenses
$218,947
Net income
-$217,537
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.06$0.61$2.45$0.00$0.22$0.22
2023Detailed filing. Detailed filing data is available for this year.$3.29$0.63$2.66$0.05$0.26$0.21
2022Detailed filing. Detailed filing data is available for this year.$3.52$0.66$2.86$0.12$0.21$0.09
2021Detailed filing. Detailed filing data is available for this year.$3.63$0.68$2.95$0.03$0.19$0.16
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 14, 2025
Return Version
2023v6.0
Gross Receipts
$1,410
Mission and Program Overview

Mission

Bsrida acts as an regional development organization involved in the acquisition and development of industrial sites, parks, and subdivisions for economic development purposes resulting in job creation and improved economic base of the big sandy region comprised of floyd, johnson, magoffin, martin & pike counties in kentucky

Economic development to bring business and industry in order to increase jobs and commerce

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,653,418$2,533,814▼ $119,604
Savings and Temporary Cash Investments$521,258$428,915▼ $92,343
Cash and Non-Interest-Bearing Accounts$100,070$99,070▼ $1,000
Prepaid Expenses and Deferred Charges$12,486$2,590▼ $9,896
Total Assets$3,287,232$3,064,389▼ $222,843
Liabilities
Unsecured Notes Loans Payable$624,229$602,980▼ $21,249
Accounts Payable and Accrued Expenses$2,330$8,273▲ $5,943
Total Liabilities$626,559$611,253▼ $15,306
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,928,490$1,719,904▼ $208,586
Net Assets With Donor Restrictions$732,183$733,232▲ $1,049
Total Net Assets Fund Balance$2,660,673$2,453,136▼ $207,537
Total Liabilities and Net Assets / Fund Balance$3,287,232$3,064,389▼ $222,843

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,033,010$591,556-
Land$322,383--
Leasehold Improvements$178,421$5,165,823-
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Mike DuncanChairman
Paul PattonVice Chairma
Ab ConleyDirector
David EllisDirector
James BoothDirector
Kathy WalkerSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,410
Other Revenue
$0
Change in Net Assets
$-217,537

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,410
Revenue Not Reported on Form 990
$10,000
Total Revenue per Audited Statements
$11,410
Total Revenue per Form 990
$1,410
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$218,947
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$119,604--$119,604
Interest$50,579--$50,579
Occupancy$16,463--$16,463
Insurance$10,609--$10,609
Fees for Services Management-$10,000-$10,000
Fees for Services Accounting$9,500--$9,500
Office Expenses$2,192--$2,192
Total Functional Expenses$208,947$10,000$0$218,947

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$218,947
Total Expenses per Audited Statements$218,947
Total Expenses per Form 990$218,947
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organization is limited in activity and has no employees. Big sandy area development district handles financial management duties. The work is reviewed and approved at each meeting of the board of directors.”

Form 990, Page 6, Part VI, Line 11B

“The 990 is presented in a meeting of the board of directors. Upon approval it is signed by the chairman or their designee for submission to the irs. Approval is recorded within the minutes of the meeting in which it is approved.”

Form 990, Page 6, Part VI, Line 12C

“The bylaws of the organization state there are to be no conflicts of interest between the board members and any activities undertaken by the organization. The organization requires an annual disclosure of potential conflicts and requires board members self report any potential conflicts as soon as they are known.”

Form 990, Page 6, Part VI, Line 19

“All documentation is available for review during normal business hours at the offices of big sandy area development district, 110 resource court, prestonsburg, ky 41653. The organization publishes lists of board members and the location/times documentation can be reviewed in local newspapers.”

Filing and Contact Details

Filer

Filer Name
Big Sandy Regional Industrial
EIN
61-1338845
Phone
6068862374
Address
110 RESOURCE CT, PRESTONSBURG, KY 41653

Signing Officer

Name
Mike Duncan
Title
Chairman
Phone
6068862374
Signed
2025-04-14

Organization Details

Principal Officer
Mike Duncan
Formed
1997
Legal Domicile
Ky
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Kelley Galloway Smith Goolsby Psc
Address
1200 CORPORATE COURT PO BOX 990, ASHLAND, KY 41105-0990
Preparer
Lori F Dearfield CPA
Phone
6063291811
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Bsrida acts as an regional development organization involved in the acquisition and development of industrial sites, parks, and subdivisions for economic development purposes resulting in job creation and improved economic base of the big sandy region comprised of floyd, johnson, magoffin, martin & pike counties in kentucky”

Form 990, Page 2, Part III, Line 4D

“Maintenance, marketing & lease of east kentucky business park in order to lure more jobs and commerce to region”

Form 990, Part XI, Line 9

“Value of donated services 10,000”

Financial Statement Notes

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

“Value of donated services 10,000”

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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/ExplanationTxt0BSRIDA ACTS AS AN REGIONAL DEVELOPMENT ORGANIZATION INVOLVED IN THE ACQUISITION AND DEVELOPMENT OF INDUSTRIAL SITES, PARKS, AND SUBDIVISIONS FOR ECONOMIC DEVELOPMENT PURPOSES RESULTING IN JOB CREATION AND IMPROVED ECONOMIC BASE OF THE BIG SANDY REGION COMPRISED OF FLOYD, JOHNSON, MAGOFFIN, MARTIN & PIKE COUNTIES IN KENTUCKY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MAINTENANCE, MARKETING & LEASE OF EAST KENTUCKY BUSINESS PARK IN ORDER TO LURE MORE JOBS AND COMMERCE TO REGION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION IS LIMITED IN ACTIVITY AND HAS NO EMPLOYEES. BIG SANDY AREA DEVELOPMENT DISTRICT HANDLES FINANCIAL MANAGEMENT DUTIES. THE WORK IS REVIEWED AND APPROVED AT EACH MEETING OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 990 IS PRESENTED IN A MEETING OF THE BOARD OF DIRECTORS. UPON APPROVAL IT IS SIGNED BY THE CHAIRMAN OR THEIR DESIGNEE FOR SUBMISSION TO THE IRS. APPROVAL IS RECORDED WITHIN THE MINUTES OF THE MEETING IN WHICH IT IS APPROVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BYLAWS OF THE ORGANIZATION STATE THERE ARE TO BE NO CONFLICTS OF INTEREST BETWEEN THE BOARD MEMBERS AND ANY ACTIVITIES UNDERTAKEN BY THE ORGANIZATION. THE ORGANIZATION REQUIRES AN ANNUAL DISCLOSURE OF POTENTIAL CONFLICTS AND REQUIRES BOARD MEMBERS SELF REPORT ANY POTENTIAL CONFLICTS AS SOON AS THEY ARE KNOWN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL DOCUMENTATION IS AVAILABLE FOR REVIEW DURING NORMAL BUSINESS HOURS AT THE OFFICES OF BIG SANDY AREA DEVELOPMENT DISTRICT, 110 RESOURCE COURT, PRESTONSBURG, KY 41653. THE ORGANIZATION PUBLISHES LISTS OF BOARD MEMBERS AND THE LOCATION/TIMES DOCUMENTATION CAN BE REVIEWED IN LOCAL NEWSPAPERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6VALUE OF DONATED SERVICES 10,000
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03287232
IRS990/TotalAssetsEOYAmt03064389
IRS990/TotalAssetsGrp/BOYAmt03287232
IRS990/TotalAssetsGrp/EOYAmt03064389
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt010000
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0208947
IRS990/TotalFunctionalExpensesGrp/TotalAmt0218947
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0626559
IRS990/TotalLiabilitiesEOYAmt0611253
IRS990/TotalLiabilitiesGrp/BOYAmt0626559
IRS990/TotalLiabilitiesGrp/EOYAmt0611253
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02660673
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02453136
IRS990/TotalProgramServiceExpensesAmt0208947
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01410
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01410
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03287232
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03064389
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0624229
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0602980
IRS990/USAddress/AddressLine1Txt0PO BOX 331
IRS990/USAddress/CityNm0INEZ
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd041224
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MIKE DUNCAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum06068862374
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BIG SANDY REGIONAL INDUSTRIAL
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT AUTHORITY INC
ReturnHeader/Filer/BusinessNameControlTxt0BIGS
ReturnHeader/Filer/EIN0611338845
ReturnHeader/Filer/PhoneNum06068862374
ReturnHeader/Filer/USAddress/AddressLine1Txt0110 RESOURCE CT
ReturnHeader/Filer/USAddress/CityNm0PRESTONSBURG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd041653
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0611129886
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KELLEY GALLOWAY SMITH GOOLSBY PSC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01200 CORPORATE COURT PO BOX 990
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ASHLAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0411050990
ReturnHeader/PreparerPersonGrp/PhoneNum06063291811
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LORI F DEARFIELD CPA
ReturnHeader/ReturnTs02025-05-05T12:55:20-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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