Civic Intelligence

Mcminn County Economic Development Authority

990 • Fiscal year 2022 • EIN 62-1240145

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 14, 2022

Organization ProfileWWW.MAKEITINMCMINN.ORG
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

26th percentile

0.03x

Higher debt load relative to assets than 26% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

71st percentile

0.38x

Higher debt load relative to revenue than 71% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Net Margin

77th percentile

17%

Higher net margin than 77% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

34th percentile

$86,200

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 32.2% of source-year revenue.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Asset Growth

52nd percentile

2.6%

Faster asset growth than 52% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

7th percentile

-27%

Faster revenue growth than 7% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets26th percentile

Assets

Up

$4,039,993

Up $102,525 (+2.6%) from 2021

Net Assets

Up

$3,938,619

Up $44,609 (+1.1%) from 2021

Liabilities

Up

$101,374

Up $57,916 (+133%) from 2021

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin77th percentile

Revenue

Down

$267,507

Down $98,225 (-27%) from 2021

Expenses

Down

$222,898

Down $102,659 (-32%) from 2021

Net Income

Up

$44,609

Up $4,434 (+11%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

2022

Assets$4,039,993
Liabilities$101,374
Net Assets$3,938,619
Open 2022 Filing

Operations Trend

Revenue Growth7th percentile

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

2022

Revenue$267,507
Expenses$222,898
Net Income$44,609
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 14, 2022
Return Version
2021v4.0
Gross Receipts
$267,507
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$243,573$274,345▲ $30,772
Land, Buildings, and Equipment, Net$4,806$34,764▲ $29,958
Prepaid Expenses and Deferred Charges$18,156$6,206▼ $11,950
Pledges and Grants Receivable$450--
Total Assets$3,937,468$4,039,993▲ $102,525
Other Assets Total$60,866$115,061▲ $54,195
Liabilities
Other Liabilities$40,125$85,732▲ $45,607
Mortgage Notes Payable Secured by Investment Property-$15,233-
Deferred Revenue$3,150--
Accounts Payable and Accrued Expenses$183$409▲ $226
Total Liabilities$43,458$101,374▲ $57,916
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,609,617$3,609,617→ $0
Net Assets Without Donor Restrictions$284,393$329,002▲ $44,609
Total Net Assets Fund Balance$3,894,010$3,938,619▲ $44,609
Total Liabilities and Net Assets / Fund Balance$3,937,468$4,039,993▲ $102,525

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$34,764$10,161$44,925
Compensation and Service Providers
Top Officer Pay34th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lindsey FergusonExecutive DiFT$86,200$86,200

Board Members and Trustees

NameTitle
Erin HolbrookPresident
Burke GarwoodDirector
David CrewsDirector
Dr John ForgetyDirector
Drew HolbrookDirector
Eric NewberryDirector
Harold MasengilDirector
Jay HackerDirector
John GentryDirector
Jordan CurtisDirector
Matt MasonDirector
Randy DunlopDirector
Stephanie WestDirector
Travis GilesDirector
Will EstesDirector
Frank ClarkEx-officio M
Rob PrestonEx-officio M
Robert GreeneEx-officio M
Stewart SmithEx-officio M
Chris AdamsPast Preside
Will RobinsonTreasurer
Erik GarkovichVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$243,717
Program Service Revenue
$23,400
Investment Income
$390
Other Revenue
$0
Change in Net Assets
$44,609

Audited Revenue Reconciliation

Revenue per Audited Statements
$267,507
Total Revenue per Audited Statements
$267,507
Total Revenue per Form 990
$267,507
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$135,919
Other Expenses$86,979
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$73,270$12,930-$86,200
Other Salaries and Wages$29,503$5,206-$34,709
Payroll Taxes$7,864$1,388-$9,252
Fees for Services Accounting$8,028--$8,028
Travel$7,817--$7,817
Pension Plan Contributions$4,894$864-$5,758
Insurance$5,406--$5,406
Office Expenses$4,168--$4,168
Depreciation Depletion$3,780--$3,780
Advertising$3,543--$3,543
Conferences and Meetings$2,931--$2,931
All Other Expenses$2,724--$2,724
Other Expenses$2,464--$2,464
Total Functional Expenses$202,510$20,388$0$222,898

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$222,898
Total Expenses per Audited Statements$222,898
Total Expenses per Form 990$222,898
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$43,078
Net Pension Liability$40,645
Accrued Liabilities$2,009
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
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lindsey Ferguson
Formed
1985
Legal Domicile
Tn
Voting Board Members
22
Independent Board Members
22
Employees
2

Preparer

Firm
Warrenjackson Cpas Pllc
Address
606 S MAIN STE C, SWEETWATER, TN 37874-2731
Preparer
Denise Davis CPA
Phone
4233375003
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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DI
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19EX-OFFICIO M
IRS990/Form990PartVIISectionAGrp/TitleTxt20TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt21EX-OFFICIO M
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
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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/OtherExpensesGrp/Desc2SALUTE TO INDUSTRY
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED INFLOW OF RESOURCES
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED LIABILITIES
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IRS990ScheduleD/TotalLiabilityAmt085732
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0222898

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,039,993
Liabilities
$101,374
Net assets
$3,938,619
Revenue
$267,507
Expenses
$222,898
Net income
$44,609
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$4.04$0.10$3.94$0.27$0.22$0.04
2021Detailed filing. Detailed filing data is available for this year.$3.94$0.04$3.89$0.37$0.33$0.04
2020Detailed filing. Detailed filing data is available for this year.$3.90$0.05$3.85$0.39$0.46$0.08
2019Detailed filing. Detailed filing data is available for this year.$4.04$0.11$3.93$0.53$0.51$0.01
2018Summary only. Only limited summary data is available for this year.$3.96$0.04$3.91$0.24$0.22$0.02
2017Summary only. Only limited summary data is available for this year.$3.94$0.03$3.91$0.32$0.26$0.06
2016Detailed filing. Detailed filing data is available for this year.$3.88$0.03$3.85$0.26$0.21$0.04
2015Summary only. Only limited summary data is available for this year.$3.82$0.02$3.81$0.27$0.20$0.07
2014Summary only. Only limited summary data is available for this year.$3.79$0.05$3.73$0.75$0.88$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.94$0.08$3.86$0.43$0.50$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.94$0.02$3.93$0.22
2011XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.95$0.02$3.93$0.22