Civic Intelligence

Mcminn County Economic Development Authority

990 • Fiscal year 2021 • EIN 62-1240145

Jul 01, 2020 to Jun 30, 2021 • Filed on Oct 06, 2021

9 E Madison Ave Suite 201Athens, TN 37303

(423) 745-1506

Siviq Scores

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

Liabilities / Assets

21st percentile

0.01x

Higher debt load relative to assets than 21% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

39th percentile

0.12x

Higher debt load relative to revenue than 39% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Net Margin

50th percentile

11%

Higher net margin than 50% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

25th percentile

$0

Higher top officer pay than 25% of similar nonprofits.

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

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Asset Growth

21st percentile

1.0%

Faster asset growth than 21% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

24th percentile

-5.2%

Faster revenue growth than 24% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$3,937,468

Up $37,996 (+1.0%) from 2020

Net Assets

Up

$3,894,010

Up $40,175 (+1.0%) from 2020

Liabilities

Down

$43,458

Down $2,179 (-4.8%) from 2020

Revenue

Down

$365,732

Down $19,861 (-5.2%) from 2020

Expenses

Down

$325,557

Down $135,572 (-29%) from 2020

Net Income

Up

$40,175

Up $115,711 (+153%) from 2020

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $3,950,871Liabilities 2011: $23,748Net Assets 2011: $3,927,1232011Assets 2012: $3,942,599Liabilities 2012: $15,978Net Assets 2012: $3,926,6212012Assets 2013: $3,941,336Liabilities 2013: $82,302Net Assets 2013: $3,859,0342013Assets 2014: $3,785,417Liabilities 2014: $53,625Net Assets 2014: $3,731,7922014Assets 2015: $3,822,534Liabilities 2015: $15,269Net Assets 2015: $3,807,2652015Assets 2016: $3,878,527Liabilities 2016: $26,525Net Assets 2016: $3,852,0022016Assets 2017: $3,944,123Liabilities 2017: $32,650Net Assets 2017: $3,911,4732017Assets 2018: $3,955,812Liabilities 2018: $41,346Net Assets 2018: $3,914,4662018Assets 2019: $4,037,204Liabilities 2019: $107,833Net Assets 2019: $3,929,3712019Assets 2020: $3,899,472Liabilities 2020: $45,637Net Assets 2020: $3,853,8352020Assets 2021: $3,937,468Liabilities 2021: $43,458Net Assets 2021: $3,894,0102021Assets 2022: $4,039,993Liabilities 2022: $101,374Net Assets 2022: $3,938,6192022

Highlighted filing

2021

Assets$3,937,468
Liabilities$43,458
Net Assets$3,894,010

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2011: $223,7362011Expenses 2012: $217,1772012Revenue 2013: $432,114Expenses 2013: $499,701Net Income 2013: -$67,5872013Revenue 2014: $751,869Expenses 2014: $879,111Net Income 2014: -$127,2422014Revenue 2015: $265,665Expenses 2015: $198,717Net Income 2015: $66,9482015Revenue 2016: $256,444Expenses 2016: $211,707Net Income 2016: $44,7372016Revenue 2017: $315,813Expenses 2017: $256,342Net Income 2017: $59,4712017Revenue 2018: $243,918Expenses 2018: $223,889Net Income 2018: $20,0292018Revenue 2019: $525,304Expenses 2019: $510,399Net Income 2019: $14,9052019Revenue 2020: $385,593Expenses 2020: $461,129Net Income 2020: -$75,5362020Revenue 2021: $365,732Expenses 2021: $325,557Net Income 2021: $40,1752021Revenue 2022: $267,507Expenses 2022: $222,898Net Income 2022: $44,6092022

Highlighted filing

2021

Revenue$365,732
Expenses$325,557
Net Income$40,175
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Oct 6, 2021
Return Version
2020v4.0
Gross Receipts
$365,732
Mission and Program Overview

Mission

The primary objective of the authority is the promotion of industrial development and expansion in mcminn county, tennessee

The primary objective of the authority is the promotion of industrial development and expansion in mcminn county, tennessee.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$3,609,617$3,609,617→ $0
Savings and Temporary Cash Investments$240,007$243,573▲ $3,566
Prepaid Expenses and Deferred Charges$3,677$18,156▲ $14,479
Land, Buildings, and Equipment, Net$9,102$4,806▼ $4,296
Pledges and Grants Receivable$1,789$450▼ $1,339
Total Assets$3,899,472$3,937,468▲ $37,996
Other Assets Total$35,280$60,866▲ $25,586
Liabilities
Other Liabilities$30,777$40,125▲ $9,348
Deferred Revenue$13,067$3,150▼ $9,917
Accounts Payable and Accrued Expenses$1,793$183▼ $1,610
Total Liabilities$45,637$43,458▼ $2,179
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,609,617$3,609,617→ $0
Net Assets Without Donor Restrictions$244,218$284,393▲ $40,175
Total Net Assets Fund Balance$3,853,835$3,894,010▲ $40,175
Total Liabilities and Net Assets / Fund Balance$3,899,472$3,937,468▲ $37,996

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,806$43,890$48,696
Compensation and Service Providers

Board Members and Trustees

NameTitle
Chris AdamsPresident
Burke GarwoodDirector
David CrewsDirector
Eric GarkovichDirector
Eric NewberryDirector
Harold MasengilDirector
Jay HackerDirector
John ForgetyDirector
John GentryDirector
Jordan CurtisDirector
Kenley HansenDirector
Matt MasonDirector
Russ BlairDirector
Sarah KennedyDirector
Travis GilesDirector
Durant TullockEx-officio M
Rob PrestonEx-officio M
Robert GreeneEx-officio M
Stewart SmithEx-officio M
Lindsey FergusonExecutive Di
Scott CassPast Preside
Will RobinsonTreasurer
Erin HolbrookVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$339,686
Program Service Revenue
$24,650
Investment Income
$1,396
Other Revenue
$0
Change in Net Assets
$40,175

Audited Revenue Reconciliation

Revenue per Audited Statements
$365,732
Total Revenue per Audited Statements
$365,732
Total Revenue per Form 990
$365,732
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$166,540
Other Expenses$159,017
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$149,420--$149,420
Other Salaries and Wages$117,728$20,776-$138,504
Payroll Taxes$13,084$2,309-$15,393
Pension Plan Contributions$10,747$1,896-$12,643
Advertising$5,301--$5,301
Depreciation Depletion$4,296--$4,296
Total Functional Expenses$300,576$24,981$0$325,557

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$325,557
Total Expenses per Audited Statements$325,557
Total Expenses per Form 990$325,557
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Inflow of Resources$33,032
Net Post-employment Benefit Liabilit$4,218
Accrued Liabilities$2,875
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
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
Mcminn County Economic Development
EIN
62-1240145
Phone
4237451506
Address
9 E MADISON AVE SUITE 201, ATHENS, TN 37303

Signing Officer

Name
Lindsey Ferguson
Title
Executive Director
Phone
4237451506
Signed
2021-10-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lindsey Ferguson
Formed
1985
Legal Domicile
Tn
Voting Board Members
23
Independent Board Members
23
Employees
3

Preparer

Firm
Warrenjackson Cpas Pllc
Address
606 S MAIN STE C, SWEETWATER, TN 37874-2731
Preparer
Derrick Nelson Ea
Phone
4233375003
Supplemental Narrative

Additional Explanations

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

SEE ADDITIONAL DATA

Form 990, Part IX, Line 11G

Communications 3,014 0 0 business insurance 5,442 0 0 office supplies and postage 3,142 0 0 dues and subscriptions 2,632 0 0 website 2,556 0 0 professional fees 10,059 0 0 meetings 1,406 0 0 grant expenses 110,619 0 0 travel and business developme 7,183 0 0 local travel 2,172 0 0 miscellaneous 1,195 0 0 total 149,420 0 0

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IRS990/MissionDesc0THE PRIMARY OBJECTIVE OF THE AUTHORITY IS THE PROMOTION OF INDUSTRIAL DEVELOPMENT AND EXPANSION IN MCMINN COUNTY, TENNESSEE
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0SEE ADDITIONAL DATA
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED INFLOW OF RESOURCES
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SEE ADDITIONAL DATA
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMMUNICATIONS 3,014 0 0 BUSINESS INSURANCE 5,442 0 0 OFFICE SUPPLIES AND POSTAGE 3,142 0 0 DUES AND SUBSCRIPTIONS 2,632 0 0 WEBSITE 2,556 0 0 PROFESSIONAL FEES 10,059 0 0 MEETINGS 1,406 0 0 GRANT EXPENSES 110,619 0 0 TRAVEL AND BUSINESS DEVELOPME 7,183 0 0 LOCAL TRAVEL 2,172 0 0 MISCELLANEOUS 1,195 0 0 TOTAL 149,420 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
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IRS990/USAddress/AddressLine1Txt09 E MADISON AVE SUITE 201
IRS990/USAddress/CityNm0ATHENS
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