Civic Intelligence

Covington County Economic Development Comm

990 • Fiscal year 2020 • EIN 62-1504373

Oct 01, 2019 to Sep 30, 2020 • Filed on Jan 15, 2021

Organization Profilecovingtoncountyedc.com
21754 Bill Benton LaneAndalusia, AL 36421

(334) 222-7040

Siviq Scores

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

Liabilities / Assets

90th percentile

0.61x

Higher debt load relative to assets than 90% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

95th percentile

1.22x

Higher debt load relative to revenue than 95% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Net Margin

80th percentile

20%

Higher net margin than 80% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

39th percentile

$115,783

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 20.6% of source-year revenue.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Asset Growth

47th percentile

4.2%

Faster asset growth than 47% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

43rd percentile

-12%

Faster revenue growth than 43% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$1,131,267

Up $46,087 (+4.2%) from 2019

Net Assets

Up

$443,921

Up $109,908 (+33%) from 2019

Liabilities

Down

$687,346

Down $63,821 (-8.5%) from 2019

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin80th percentile

Revenue

Down

$561,112

Down $73,044 (-12%) from 2019

Expenses

Down

$451,204

Down $115,358 (-20%) from 2019

Net Income

Up

$109,908

Up $42,314 (+63%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth47th percentile

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

$1.5M$1.0M$500K$0Assets 2013: $951,201Liabilities 2013: $311,428Net Assets 2013: $639,7732013Assets 2014: $1,002,972Liabilities 2014: $521,850Net Assets 2014: $481,1222014Assets 2015: $1,049,422Liabilities 2015: $596,486Net Assets 2015: $452,9362015Assets 2016: $1,185,773Liabilities 2016: $737,313Net Assets 2016: $448,4602016Assets 2017: $1,161,654Liabilities 2017: $848,272Net Assets 2017: $313,3822017Assets 2018: $1,177,231Liabilities 2018: $910,812Net Assets 2018: $266,4192018Assets 2019: $1,085,180Liabilities 2019: $751,167Net Assets 2019: $334,0132019Assets 2020: $1,131,267Liabilities 2020: $687,346Net Assets 2020: $443,9212020Assets 2021: $1,167,838Liabilities 2021: $549,468Net Assets 2021: $618,3702021Assets 2022: $1,025,199Liabilities 2022: $477,379Net Assets 2022: $547,8202022Assets 2023: $710,301Liabilities 2023: $239,698Net Assets 2023: $470,6032023Assets 2024: $573,530Liabilities 2024: $1,466Net Assets 2024: $572,0642024

Highlighted filing

2020

Assets$1,131,267
Liabilities$687,346
Net Assets$443,921
Open 2020 Filing

Operations Trend

Revenue Growth43rd percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2013: $254,087Expenses 2013: $226,335Net Income 2013: $27,7522013Revenue 2014: $255,563Expenses 2014: $250,357Net Income 2014: $5,2062014Revenue 2015: $200,487Expenses 2015: $228,673Net Income 2015: -$28,1862015Revenue 2016: $235,682Expenses 2016: $240,158Net Income 2016: -$4,4762016Revenue 2017: $279,112Expenses 2017: $414,190Net Income 2017: -$135,0782017Revenue 2018: $465,793Expenses 2018: $512,757Net Income 2018: -$46,9642018Revenue 2019: $634,156Expenses 2019: $566,562Net Income 2019: $67,5942019Revenue 2020: $561,112Expenses 2020: $451,204Net Income 2020: $109,9082020Revenue 2021: $644,791Expenses 2021: $470,342Net Income 2021: $174,4492021Revenue 2022: $539,970Expenses 2022: $610,520Net Income 2022: -$70,5502022Revenue 2023: $475,240Expenses 2023: $552,457Net Income 2023: -$77,2172023Revenue 2024: $498,243Expenses 2024: $549,419Net Income 2024: -$51,1762024

Highlighted filing

2020

Revenue$561,112
Expenses$451,204
Net Income$109,908
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Jan 15, 2021
Return Version
2019v5.1
Gross Receipts
$561,112
Mission and Program Overview

Mission

To promote industry and develop trade by inducing manufacturing, and commercial enterprises to locate and/or expand in Coviington County, Alabama.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$349,925$522,482▲ $172,557
Rtn Earn Endowment Incm Other Fnds$334,013$443,921▲ $109,908
Savings and Temporary Cash Investments$519,837$320,189▼ $199,648
Land, Buildings, and Equipment, Net$215,418$219,320▲ $3,902
Other Notes and Loans Receivable, Net-$69,276-
Total Assets$1,085,180$1,131,267▲ $46,087
Liabilities
Other Liabilities$740,575$681,753▼ $58,822
Accounts Payable and Accrued Expenses$10,592$5,593▼ $4,999
Total Liabilities$751,167$687,346▼ $63,821
Net Assets / Fund Balance
Total Net Assets Fund Balance$334,013$443,921▲ $109,908
Total Liabilities and Net Assets / Fund Balance$1,085,180$1,131,267▲ $46,087

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,282$18,142$29,424
Land$208,038--
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James R CliftonExecutive DirectorFT$113,083$2,700$115,783

Board Members and Trustees

NameTitle
Ed ShortChairmanDirector
Tim LogginsVice ChairmanDirector
Becky BrackeDirector
Brett BallardDirector
Charles SmithDirector
Chrissie DuffyDirector
Earl V JohnsonDirector
Frank HendersonDirector
Gary SmithDirector
Greg HendersonDirector
Greg WhiteDirector
Jed BlackwellDirector
Jessie SelfDirector
Kiel OdomDirector
Ricky JonesDirector
Shannon GlennDirector
Terry HolleyDirector
Tom LaneSecTreaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$421,054
Program Service Revenue
$0
Investment Income
$903
Other Revenue
$139,155
All Other Contributions
$368,954
Change in Net Assets
$109,908
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$266,213
Salaries, Compensation, and Employee Benefits$184,991
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$114,083--$114,083
Travel$65,184--$65,184
Other Salaries and Wages$55,083--$55,083
Other Expenses$43,501--$43,501
Conferences and Meetings$34,045--$34,045
Occupancy$30,257--$30,257
Payroll Taxes$13,125--$13,125
Office Expenses$6,030$6,031-$12,061
Insurance-$7,943-$7,943
Information Technology$3,119$3,119-$6,238
All Other Expenses$6,007--$6,007
Fees for Services Accounting-$5,400-$5,400
Pension Plan Contributions$2,700--$2,700
Depreciation Depletion$1,611--$1,611
Advertising-$88-$88
Total Functional Expenses$428,623$22,581$0$451,204
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
SIB-Money Market Acct$245,209
Aviation Adv-CCB$198,784
A-OAA Incubator-SIB$121,405
South AL Aviation-Cadence$84,688
PPP Loan$31,667
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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 governing body review Part VI line 11

“No formal review was conducted; the Board reviewed the Compiled Financial Statements.”

Governing documents etc available to public Part VI line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Covington County Economic Development Comm
EIN
62-1504373
Address
21754 Bill Benton Lane, Andalusia, AL 36421

Signing Officer

Name
James R Clifton
Title
Executive Direc
Phone
3342227040
Signed
2021-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ed Short
Formed
1992
Legal Domicile
Al
Voting Board Members
19
Independent Board Members
18
Employees
2

Preparer

Firm
White and McClung LLC
Address
218 South Three Notch St, Andalusia, AL 36420
Preparer
Wayne Linton CPA
Phone
3342223087
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IRS990/InformationTechnologyGrp/ProgramServicesAmt03119
IRS990/InformationTechnologyGrp/TotalAmt06238
IRS990/InsuranceGrp/ManagementAndGeneralAmt07943
IRS990/InsuranceGrp/TotalAmt07943
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0903
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0903
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt02
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt018142
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0215418
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0219320
IRS990/LandBldgEquipCostOrOtherBssAmt0237462
IRS990/LegalDomicileStateCd0AL
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0To promote industry and develop trade by inducing manufacturing, and commercial enterprises to locate and/or expand in Coviington County, Alabama.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0334013
IRS990/NetAssetsOrFundBalancesEOYAmt0443921
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt0975
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0975
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt030257
IRS990/OccupancyGrp/TotalAmt030257
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt06031
IRS990/OfficeExpensesGrp/ProgramServicesAmt06030
IRS990/OfficeExpensesGrp/TotalAmt012061
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Auto Reimbursement
IRS990/OtherExpensesGrp/Desc1Dues & Publications
IRS990/OtherExpensesGrp/Desc2Consulting Services
IRS990/OtherExpensesGrp/Desc3Promotions & Marketing
IRS990/OtherExpensesGrp/ProgramServicesAmt022836
IRS990/OtherExpensesGrp/ProgramServicesAmt125542
IRS990/OtherExpensesGrp/ProgramServicesAmt25500
IRS990/OtherExpensesGrp/ProgramServicesAmt343501
IRS990/OtherExpensesGrp/TotalAmt022836
IRS990/OtherExpensesGrp/TotalAmt125542
IRS990/OtherExpensesGrp/TotalAmt25500
IRS990/OtherExpensesGrp/TotalAmt343501
IRS990/OtherLiabilitiesGrp/BOYAmt0740575
IRS990/OtherLiabilitiesGrp/EOYAmt0681753
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0Transfer In
IRS990/OtherRevenueMiscGrp/Desc1Other
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0-4558
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1142738
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0-4558
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1142738
IRS990/OtherRevenueTotalAmt0138180
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt055083
IRS990/OtherSalariesAndWagesGrp/TotalAmt055083
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt069276
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt013125
IRS990/PayrollTaxesGrp/TotalAmt013125
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02700
IRS990/PensionPlanContributionsGrp/TotalAmt02700
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0Ed Short
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0429737
IRS990/PYGrantsAndSimilarPaidAmt010000
IRS990/PYInvestmentIncomeAmt0724
IRS990/PYOtherExpensesAmt0377919
IRS990/PYOtherRevenueAmt0203695
IRS990/PYRevenuesLessExpensesAmt067594
IRS990/PYSalariesCompEmpBnftPaidAmt0178643
IRS990/PYTotalExpensesAmt0566562
IRS990/PYTotalRevenueAmt0634156
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0109908
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0975
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0334013
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0443921
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0519837
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0320189
IRS990ScheduleA/GovernmentalUnitInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt011282
IRS990ScheduleD/EquipmentGrp/DepreciationAmt018142
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt029424
IRS990ScheduleD/LandGrp/BookValueAmt0208038
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0208038
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt031667
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt184688
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2121405
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3245209
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt4198784
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PPP Loan
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1South AL Aviation-Cadence
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2A-OAA Incubator-SIB
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3SIB-Money Market Acct
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4Aviation Adv-CCB
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0219320
IRS990ScheduleD/TotalLiabilityAmt0681753
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No formal review was conducted; the Board reviewed the Compiled Financial Statements.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0AL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01085180
IRS990/TotalAssetsEOYAmt01131267
IRS990/TotalAssetsGrp/BOYAmt01085180
IRS990/TotalAssetsGrp/EOYAmt01131267
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0421054
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt022581
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0428623
IRS990/TotalFunctionalExpensesGrp/TotalAmt0451204
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0751167
IRS990/TotalLiabilitiesEOYAmt0687346
IRS990/TotalLiabilitiesGrp/BOYAmt0751167

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,131,267
Liabilities
$687,346
Net assets
$443,921
Revenue
$561,112
Expenses
$451,204
Net income
$109,908
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.57$0.00$0.57$0.50$0.55$0.05
2023Detailed filing. Detailed filing data is available for this year.$0.71$0.24$0.47$0.48$0.55$0.08
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.48$0.55$0.54$0.61$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.17$0.55$0.62$0.64$0.47$0.17
2020Detailed filing. Detailed filing data is available for this year.$1.13$0.69$0.44$0.56$0.45$0.11
2019Detailed filing. Detailed filing data is available for this year.$1.09$0.75$0.33$0.63$0.57$0.07
2018Detailed filing. Detailed filing data is available for this year.$1.18$0.91$0.27$0.47$0.51$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.16$0.85$0.31$0.28$0.41$0.14
2016Detailed filing. Detailed filing data is available for this year.$1.19$0.74$0.45$0.24$0.24$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.05$0.60$0.45$0.20$0.23$0.03
2014Summary only. Only limited summary data is available for this year.$1.00$0.52$0.48$0.26$0.25$0.01
2013Summary only. Only limited summary data is available for this year.$0.95$0.31$0.64$0.25$0.23$0.03