Civic Intelligence

Sevier County Economic Development Council

990 • Fiscal year 2022 • EIN 62-1304987

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

Organization ProfileWWW.SCEDC.COM
321 Court AvenueSevierville, TN 37862

(865) 428-2212

Siviq Scores

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

Liabilities / Assets

85th percentile

0.42x

Higher debt load relative to assets than 85% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

76th percentile

0.28x

Higher debt load relative to revenue than 76% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Net Margin

53rd percentile

6.1%

Higher net margin than 53% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

83rd percentile

$133,759

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 20.4% of source-year revenue.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2022

Asset Growth

94th percentile

62%

Faster asset growth than 94% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

16th percentile

-11%

Faster revenue growth than 16% of similar nonprofits.

2022 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$444,803

Up $169,752 (+62%) from 2021

Net Assets

Up

$259,564

Up $40,073 (+18%) from 2021

Liabilities

Up

$185,239

Up $129,679 (+233%) from 2021

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin53rd percentile

Revenue

Down

$655,925

Down $82,314 (-11%) from 2021

Expenses

Up

$615,852

Up $1,310 (+0.2%) from 2021

Net Income

Down

$40,073

Down $83,624 (-68%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$600K$400K$200K$0-$200KAssets 2011: $195,095Liabilities 2011: $105,592Net Assets 2011: $89,5032011Assets 2012: $163,736Liabilities 2012: $87,537Net Assets 2012: $76,1992012Assets 2013: $104,440Liabilities 2013: $64,160Net Assets 2013: $40,2802013Assets 2014: $54,538Liabilities 2014: $32,063Net Assets 2014: $22,4752014Assets 2015: $219,503Liabilities 2015: $155,661Net Assets 2015: $63,8422015Assets 2016: $104,261Liabilities 2016: $169,182Net Assets 2016: -$64,9212016Assets 2017: $152,070Liabilities 2017: $214,082Net Assets 2017: -$62,0122017Assets 2018: $107,845Liabilities 2018: $123,329Net Assets 2018: -$15,4842018Assets 2019: $101,144Liabilities 2019: $93,979Net Assets 2019: $7,1652019Assets 2020: $183,729Liabilities 2020: $87,935Net Assets 2020: $95,7942020Assets 2021: $275,051Liabilities 2021: $55,560Net Assets 2021: $219,4912021Assets 2022: $444,803Liabilities 2022: $185,239Net Assets 2022: $259,5642022Assets 2023: $250,011Liabilities 2023: $48,890Net Assets 2023: $201,1212023Assets 2024: $410,107Liabilities 2024: $134,200Net Assets 2024: $275,9072024

Highlighted filing

2022

Assets$444,803
Liabilities$185,239
Net Assets$259,564
Open 2022 Filing

Operations Trend

Revenue Growth16th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2011: $551,883Expenses 2011: $537,538Net Income 2011: $14,3452011Revenue 2012: $443,752Expenses 2012: $457,056Net Income 2012: -$13,3042012Expenses 2013: $512,3032013Revenue 2014: $415,303Expenses 2014: $433,108Net Income 2014: -$17,8052014Revenue 2015: $535,504Expenses 2015: $494,137Net Income 2015: $41,3672015Revenue 2016: $611,299Expenses 2016: $605,667Net Income 2016: $5,6322016Revenue 2017: $577,642Expenses 2017: $574,733Net Income 2017: $2,9092017Revenue 2018: $485,758Expenses 2018: $439,230Net Income 2018: $46,5282018Revenue 2019: $487,475Expenses 2019: $464,826Net Income 2019: $22,6492019Revenue 2020: $615,222Expenses 2020: $526,593Net Income 2020: $88,6292020Revenue 2021: $738,239Expenses 2021: $614,542Net Income 2021: $123,6972021Revenue 2022: $655,925Expenses 2022: $615,852Net Income 2022: $40,0732022Revenue 2023: $564,540Expenses 2023: $583,393Net Income 2023: -$18,8532023Revenue 2024: $612,781Expenses 2024: $620,717Net Income 2024: -$7,9362024

Highlighted filing

2022

Revenue$655,925
Expenses$615,852
Net Income$40,073
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.0
Gross Receipts
$655,925
Mission and Program Overview

Mission

To create, retain, & invest wealth for the creation of quality job opportunities for the residents of sevier co. Through the investment of wealth, maintain & improve the quality of life for the people of sevier co.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$219,491$259,564▲ $40,073
Accounts Receivable$42,137$86,051▲ $43,914
Savings and Temporary Cash Investments$2,089$32,089▲ $30,000
Cash and Non-Interest-Bearing Accounts$119,392$22,971▼ $96,421
Land, Buildings, and Equipment, Net$4,220$4,050▼ $170
Total Assets$275,051$444,803▲ $169,752
Other Assets Total$107,213$299,642▲ $192,429
Liabilities
Other Liabilities$24,157$157,503▲ $133,346
Accounts Payable and Accrued Expenses$31,403$27,736▼ $3,667
Total Liabilities$55,560$185,239▲ $129,679
Net Assets / Fund Balance
Total Net Assets Fund Balance$219,491$259,564▲ $40,073
Total Liabilities and Net Assets / Fund Balance$275,051$444,803▲ $169,752

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$57,187$57,187
Equipment-$35,984$35,984
Leasehold Improvements$4,050$2,600$6,650
Other Assets Org$56,917--
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kenneth Allen NewtonExecutive DiFT$112,663$21,096$133,759

Board Members and Trustees

NameTitle
Rick HarrellChair
Larry WatersVice-chairma
Alan HillMember
Allen RobbinsMember
Brenda MccroskeyMember
Bud OgleMember
Buddy HeinsMember
Chad ReaganMember
Jason HolimanMember
John HunterMember
Patricia BibleMember
Russell TreadwayMember
Tony WattsMember
Matt BallardSecretary
Bobby CastleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$425,050
Program Service Revenue
$186,208
Investment Income
$75
Other Revenue
$44,592
All Other Contributions
$80,150
Change in Net Assets
$40,073

Audited Revenue Reconciliation

Revenue per Audited Statements
$655,925
Total Revenue per Audited Statements
$655,925
Total Revenue per Form 990
$655,925
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$467,165
Other Expenses$148,687
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$269,961
Current Officers, Directors, Trustees, and Key Employees---$133,759
Fees for Services Other---$43,242
Payroll Taxes---$32,642
Other Employee Benefits---$30,803
Advertising---$29,598
Travel---$24,328
Fees for Services Accounting---$13,557
Occupancy---$8,741
Office Expenses---$8,260
Other Expenses---$1,000
Interest---$591
All Other Expenses---$231
Depreciation Depletion---$171
Total Functional Expenses$0$0$0$615,852

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$615,852
Total Expenses per Audited Statements$615,852
Total Expenses per Form 990$615,852
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 Inflows of Resources$157,503
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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

“The executive director reviews the 990 before submission.”

Form 990, Page 6, Part VI, Line 19

“All documents are available upon request after complying with request procedures.”

Filing and Contact Details

Filer

Filer Name
Sevier County Economic Development
EIN
62-1304987
Phone
8654282212
Address
321 COURT AVENUE, SEVIERVILLE, TN 37862

Signing Officer

Name
Kenneth Allen Newton
Title
Executive Director
Phone
8654282212
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kenneth Allen Newton
Formed
1986
Legal Domicile
Tn
Voting Board Members
13
Independent Board Members
13
Employees
8

Preparer

Firm
Brown Jake & Mcdaniel Pc
Address
2607 KINGSTON PIKE SUITE 110, KNOXVILLE, TN 37919-3336
Preparer
Frank D Mcdaniel CPA
Phone
8656378600
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IRS990/OtherRevenueMiscGrp/Desc0GASB 68 PENSION INCOME
IRS990/OtherRevenueMiscGrp/Desc1OTHER
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IRS990/OtherRevenueMiscGrp/ExclusionAmt14176
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IRS990/PayrollTaxesGrp/TotalAmt032642
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IRS990/PrincipalOfficerNm0KENNETH ALLEN NEWTON
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IRS990/ProgramServiceRevenueGrp/BusinessCd4900099
IRS990/ProgramServiceRevenueGrp/Desc0MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/Desc1SHIP MEMBERSHIP FEES
IRS990/ProgramServiceRevenueGrp/Desc2RIDA
IRS990/ProgramServiceRevenueGrp/Desc3SHIP TUITION FEES
IRS990/ProgramServiceRevenueGrp/Desc4SHIP ADMINISTRATIVE FEE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0117040
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt127450
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt215928
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt314690
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt411100
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt314690
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt411100
IRS990/ProgSrvcAccomActy2Grp/Desc0ORGANIZE AND ADMINISTRATE THE SOUTHERN HOSPITALITY INTERNSHIP PROGRAM (SHIP) TO ASSIST HIGH SCHOOL STUDENTS, COLLEGE STUDENTS AND RECENT GRADUATES OF BOTH, GAIN REAL LIFE WORK EXPERIENCE IN THE HOSPITALITY INDUSTRY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0116765
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt053240
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt034176
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IRS990/PYInvestmentIncomeAmt0156
IRS990/PYOtherExpensesAmt0207090
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IRS990/PYSalariesCompEmpBnftPaidAmt0407452
IRS990/PYTotalExpensesAmt0614542
IRS990/PYTotalRevenueAmt0738239
IRS990/ReconcilationRevenueExpnssAmt040073
IRS990/RelatedEntityInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt035984
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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt04050
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02600
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt06650
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0242725
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt156917
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0NET PENSION ASSET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEFERRED OUTFLOWS OF RESOURCES
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt057187
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt057187
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0157503
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED INFLOWS OF RESOURCES
IRS990ScheduleD/RevenueSubtotalAmt0655925
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04050
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0299642
IRS990ScheduleD/TotalExpensesPerForm990Amt0615852
IRS990ScheduleD/TotalLiabilityAmt0157503
IRS990ScheduleD/TotalRevenuePerForm990Amt0655925
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0655925
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE DIRECTOR REVIEWS THE 990 BEFORE SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DOCUMENTS ARE AVAILABLE UPON REQUEST AFTER COMPLYING WITH REQUEST PROCEDURES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalOtherProgSrvcRevenueAmt034176
IRS990/TotalProgramServiceExpensesAmt0615852
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0444803
IRS990/TravelGrp/TotalAmt024328
IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0321 COURT AVENUE
IRS990/USAddress/CityNm0SEVIERVILLE
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037862
IRS990/VotingMembersGoverningBodyCnt013
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IRS990/WebsiteAddressTxt0WWW.SCEDC.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KENNETH ALLEN NEWTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08654282212
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-15

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$444,803
Liabilities
$185,239
Net assets
$259,564
Revenue
$655,925
Expenses
$615,852
Net income
$40,073
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.10$1.34$2.76$6.13$6.21$0.08
2023Detailed filing. Detailed filing data is available for this year.$2.50$0.49$2.01$5.65$5.83$0.19
2022Detailed filing. Detailed filing data is available for this year.$4.45$1.85$2.60$6.56$6.16$0.40
2021Detailed filing. Detailed filing data is available for this year.$2.75$0.56$2.19$7.38$6.15$1.24
2020Detailed filing. Detailed filing data is available for this year.$1.84$0.88$0.96$6.15$5.27$0.89
2019Detailed filing. Detailed filing data is available for this year.$1.01$0.94$0.07$4.87$4.65$0.23
2018Detailed filing. Detailed filing data is available for this year.$1.08$1.23$0.15$4.86$4.39$0.47
2017Summary only. Only limited summary data is available for this year.$1.52$2.14$0.62$5.78$5.75$0.03
2016Detailed filing. Detailed filing data is available for this year.$1.04$1.69$0.65$6.11$6.06$0.06
2015Detailed filing. Detailed filing data is available for this year.$2.20$1.56$0.64$5.36$4.94$0.41
2014Detailed filing. Detailed filing data is available for this year.$0.55$0.32$0.22$4.15$4.33$0.18
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$0.64$0.40$5.12
2012Summary only. Only limited summary data is available for this year.$1.64$0.88$0.76$4.44$4.57$0.13
2011Summary only. Only limited summary data is available for this year.$1.95$1.06$0.90$5.52$5.38$0.14