Civic Intelligence

Sevier County Economic Development Council

990 • Fiscal year 2023 • EIN 62-1304987

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

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

69th percentile

0.20x

Higher debt load relative to assets than 69% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

56th percentile

0.09x

Higher debt load relative to revenue than 56% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Net Margin

31st percentile

-3.3%

Higher net margin than 31% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

85th percentile

$143,282

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 25.4% of source-year revenue.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Asset Growth

3rd percentile

-44%

Faster asset growth than 3% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

12th percentile

-14%

Faster revenue growth than 12% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets69th percentile

Assets

Down

$250,011

Down $194,792 (-44%) from 2022

Net Assets

Down

$201,121

Down $58,443 (-23%) from 2022

Liabilities

Down

$48,890

Down $136,349 (-74%) from 2022

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin31st percentile

Revenue

Down

$564,540

Down $91,385 (-14%) from 2022

Expenses

Down

$583,393

Down $32,459 (-5.3%) from 2022

Net Income

Down

-$18,853

Down $58,926 (-147%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth3rd 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

2023

Assets$250,011
Liabilities$48,890
Net Assets$201,121
Open 2023 Filing

Operations Trend

Revenue Growth12th 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

2023

Revenue$564,540
Expenses$583,393
Net Income-$18,853
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$564,540
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$259,564$201,121▼ $58,443
Accounts Receivable$86,051--
Cash and Non-Interest-Bearing Accounts$22,971$49,954▲ $26,983
Savings and Temporary Cash Investments$32,089$32,237▲ $148
Land, Buildings, and Equipment, Net$4,050$3,880▼ $170
Total Assets$444,803$250,011▼ $194,792
Other Assets Total$299,642$163,940▼ $135,702
Liabilities
Accounts Payable and Accrued Expenses$27,736$42,961▲ $15,225
Other Liabilities$157,503$5,929▼ $151,574
Total Liabilities$185,239$48,890▼ $136,349
Net Assets / Fund Balance
Total Net Assets Fund Balance$259,564$201,121▼ $58,443
Total Liabilities and Net Assets / Fund Balance$444,803$250,011▼ $194,792

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$57,187$57,187
Equipment-$35,984$35,984
Leasehold Improvements$3,880$2,770$6,650
Other Assets Org$31,497--
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kenneth Allen NewtonExecutive DiFT$124,515$18,767$143,282

Board Members and Trustees

NameTitle
Rick HarrellChair
Larry WatersVice-chairma
Alan HillMember
Allen RobbinsMember
Brenda MccroskeyMember
Buddy HeinsMember
Candace Ogle MortonMember
Chad ReaganMember
David OgleMember
Jason HolimanMember
John HunterMember
Patricia BibleMember
Russell TreadwayMember
Tony WattsMember
James GreeneSecretary
Bobby CastleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$389,274
Program Service Revenue
$141,397
Investment Income
$97
Other Revenue
$33,772
All Other Contributions
$77,050
Change in Net Assets
$-18,853

Audited Revenue Reconciliation

Revenue per Audited Statements
$564,540
Total Revenue per Audited Statements
$564,540
Total Revenue per Form 990
$564,540
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$475,217
Other Expenses$108,176
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$250,665
Current Officers, Directors, Trustees, and Key Employees---$143,282
Other Employee Benefits---$52,060
Payroll Taxes---$29,210
Travel---$26,414
Office Expenses---$19,393
Fees for Services Accounting---$15,967
Occupancy---$9,253
Insurance---$8,850
Advertising---$6,749
Other Expenses---$1,307
Depreciation Depletion---$170
Total Functional Expenses$0$0$0$583,393

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$583,393
Total Expenses per Audited Statements$583,393
Total Expenses per Form 990$583,393
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$5,929
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
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kenneth Allen Newton
Formed
1986
Legal Domicile
Tn
Voting Board Members
16
Independent Board Members
16
Employees
5

Preparer

Firm
Brown Jake & Mcdaniel Pc
Address
2607 KINGSTON PIKE SUITE 110, KNOXVILLE, TN 37919-3336
Preparer
Frank D Mcdaniel CPA
Phone
8656378600
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Prior period adjustment -39,590”

Raw XML AppendixShowing 400 of 418 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.

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IRS990/OtherExpensesGrp/Desc2DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS EXPENSE
IRS990/OtherExpensesGrp/TotalAmt010608
IRS990/OtherExpensesGrp/TotalAmt14927
IRS990/OtherExpensesGrp/TotalAmt24538
IRS990/OtherExpensesGrp/TotalAmt31307
IRS990/OtherLiabilitiesGrp/BOYAmt0157503
IRS990/OtherLiabilitiesGrp/EOYAmt05929
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER
IRS990/OtherRevenueMiscGrp/Desc1GASB 68 PENSION INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt029832
IRS990/OtherRevenueMiscGrp/ExclusionAmt13940
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt029832
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt13940
IRS990/OtherRevenueTotalAmt033772
IRS990/OtherSalariesAndWagesGrp/TotalAmt0250665
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/TotalAmt029210
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0KENNETH ALLEN NEWTON
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0561000
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/Desc1RIDA
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0126304
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt115093
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0126304
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt115093
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0425050
IRS990/PYInvestmentIncomeAmt075
IRS990/PYOtherExpensesAmt0148687
IRS990/PYOtherRevenueAmt044592
IRS990/PYProgramServiceRevenueAmt0186208
IRS990/PYRevenuesLessExpensesAmt040073
IRS990/PYSalariesCompEmpBnftPaidAmt0467165
IRS990/PYTotalExpensesAmt0615852
IRS990/PYTotalRevenueAmt0655925
IRS990/ReconcilationRevenueExpnssAmt0-18853
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0564540
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0259564
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0201121
IRS990/SavingsAndTempCashInvstGrp/BOYAmt032089
IRS990/SavingsAndTempCashInvstGrp/EOYAmt032237
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt035984
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt035984
IRS990ScheduleD/ExpensesSubtotalAmt0583393
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt03880
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02770
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt06650
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0132443
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt131497
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0NET PENSION ASSET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEFERRED OUTFLOWS OF RESOURCES
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt057187
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt057187
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05929
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED INFLOWS OF RESOURCES
IRS990ScheduleD/RevenueSubtotalAmt0564540
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03880
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0163940
IRS990ScheduleD/TotalExpensesPerForm990Amt0583393
IRS990ScheduleD/TotalLiabilityAmt05929
IRS990ScheduleD/TotalRevenuePerForm990Amt0564540
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0564540
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0583393
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/ExplanationTxt2PRIOR PERIOD ADJUSTMENT -39,590
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0444803
IRS990/TotalAssetsEOYAmt0250011
IRS990/TotalAssetsGrp/BOYAmt0444803
IRS990/TotalAssetsGrp/EOYAmt0250011
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0389274
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0583393
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0185239
IRS990/TotalLiabilitiesEOYAmt048890
IRS990/TotalLiabilitiesGrp/BOYAmt0185239
IRS990/TotalLiabilitiesGrp/EOYAmt048890
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0259564
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0201121
IRS990/TotalOtherCompensationAmt018767
IRS990/TotalProgramServiceExpensesAmt0583393
IRS990/TotalProgramServiceRevenueAmt0141397
IRS990/TotalReportableCompFromOrgAmt0124515
IRS990/TotalRevenueGrp/ExclusionAmt033869
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0141397
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0564540
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0444803
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0250011
IRS990/TravelGrp/TotalAmt026414
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0321 COURT AVENUE
IRS990/USAddress/CityNm0SEVIERVILLE
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037862
IRS990/VotingMembersGoverningBodyCnt016
IRS990/VotingMembersIndependentCnt016
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/SignatureDt02024-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SEVIER COUNTY ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COUNCIL
ReturnHeader/Filer/BusinessNameControlTxt0SEVI
ReturnHeader/Filer/EIN0621304987
ReturnHeader/Filer/PhoneNum08654282212
ReturnHeader/Filer/USAddress/AddressLine1Txt0321 COURT AVENUE
ReturnHeader/Filer/USAddress/CityNm0SEVIERVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$250,011
Liabilities
$48,890
Net assets
$201,121
Revenue
$564,540
Expenses
$583,393
Net income
-$18,853
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