Civic Intelligence

Covington County Economic Development Comm

990 • Fiscal year 2021 • EIN 62-1504373

Oct 01, 2020 to Sep 30, 2021 • Filed on Feb 07, 2022

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

85th percentile

0.47x

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

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

Liabilities / Revenue

91st percentile

0.85x

Higher debt load relative to revenue than 91% of similar nonprofits.

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

Net Margin

81st percentile

27%

Higher net margin than 81% 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

26th percentile

3.2%

Faster asset growth than 26% of similar nonprofits.

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

Revenue Growth

60th percentile

15%

Faster revenue growth than 60% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$1,167,838

Up $36,571 (+3.2%) from 2020

Net Assets

Up

$618,370

Up $174,449 (+39%) from 2020

Liabilities

Down

$549,468

Down $137,878 (-20%) from 2020

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin81st percentile

Revenue

Up

$644,791

Up $83,679 (+15%) from 2020

Expenses

Up

$470,342

Up $19,138 (+4.2%) from 2020

Net Income

Up

$174,449

Up $64,541 (+59%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth26th 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

2021

Assets$1,167,838
Liabilities$549,468
Net Assets$618,370
Open 2021 Filing

Operations Trend

Revenue Growth60th 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

2021

Revenue$644,791
Expenses$470,342
Net Income$174,449
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Feb 7, 2022
Return Version
2020v4.1
Gross Receipts
$644,791
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
Rtn Earn Endowment Incm Other Fnds$443,921$618,370▲ $174,449
Investments in Publicly Traded Securities-$444,510-
Land, Buildings, and Equipment, Net$219,320$227,000▲ $7,680
Other Notes and Loans Receivable, Net$69,276$200,874▲ $131,598
Savings and Temporary Cash Investments$320,189$194,482▼ $125,707
Cash and Non-Interest-Bearing Accounts$522,482$100,972▼ $421,510
Total Assets$1,131,267$1,167,838▲ $36,571
Liabilities
Other Liabilities$681,753$545,481▼ $136,272
Accounts Payable and Accrued Expenses$5,593$3,987▼ $1,606
Total Liabilities$687,346$549,468▼ $137,878
Net Assets / Fund Balance
Total Net Assets Fund Balance$443,921$618,370▲ $174,449
Total Liabilities and Net Assets / Fund Balance$1,131,267$1,167,838▲ $36,571

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$18,962$20,919$39,881
Land$208,038--
Compensation and Service Providers
Top Officer Pay25th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$455,858
Program Service Revenue
$0
Investment Income
$1,024
Other Revenue
$187,909
All Other Contributions
$385,053
Change in Net Assets
$174,449
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$265,236
Salaries, Compensation, and Employee Benefits$192,766
Grants and Similar Amounts Paid$12,340
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$117,473--$117,473
Travel$69,395--$69,395
Other Salaries and Wages$58,473--$58,473
Conferences and Meetings$42,793--$42,793
Other Expenses$26,887--$26,887
Occupancy$25,675--$25,675
Insurance-$14,826-$14,826
Payroll Taxes$13,895--$13,895
Office Expenses$6,617$6,616-$13,233
Grants to Domestic Orgs$12,340--$12,340
Information Technology$4,726$4,725-$9,451
All Other Expenses$5,780--$5,780
Fees for Services Accounting-$5,400-$5,400
Pension Plan Contributions$2,925--$2,925
Depreciation Depletion$2,777--$2,777
Advertising-$621-$621
Total Functional Expenses$438,154$32,188$0$470,342
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
Edward Jones Investment$444,509
A-OAA Incubator-SIB$100,972
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 Clifton
Title
Exective Direct
Phone
3342227040
Signed
2022-02-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ed Short
Formed
1992
Legal Domicile
Al
Voting Board Members
18
Independent Board Members
17
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/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt020919
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0219320
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0227000
IRS990/LandBldgEquipCostOrOtherBssAmt0247919
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/NetAssetsOrFundBalancesBOYAmt0443921
IRS990/NetAssetsOrFundBalancesEOYAmt0618370
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt034100
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt034100
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt025675
IRS990/OccupancyGrp/TotalAmt025675
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt06616
IRS990/OfficeExpensesGrp/ProgramServicesAmt06617
IRS990/OfficeExpensesGrp/TotalAmt013233
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/ProgramServicesAmt021779
IRS990/OtherExpensesGrp/ProgramServicesAmt122619
IRS990/OtherExpensesGrp/ProgramServicesAmt24000
IRS990/OtherExpensesGrp/ProgramServicesAmt326887
IRS990/OtherExpensesGrp/TotalAmt021779
IRS990/OtherExpensesGrp/TotalAmt122619
IRS990/OtherExpensesGrp/TotalAmt24000
IRS990/OtherExpensesGrp/TotalAmt326887
IRS990/OtherLiabilitiesGrp/BOYAmt0681753
IRS990/OtherLiabilitiesGrp/EOYAmt0545481
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/BusinessCd2900099
IRS990/OtherRevenueMiscGrp/Desc0Transfer In
IRS990/OtherRevenueMiscGrp/Desc1Other
IRS990/OtherRevenueMiscGrp/Desc2Disaster Relief
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt060969
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt180500
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt212340
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt060969
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt180500
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt212340
IRS990/OtherRevenueTotalAmt0153809
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt058473
IRS990/OtherSalariesAndWagesGrp/TotalAmt058473
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt069276
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0200874
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt013895
IRS990/PayrollTaxesGrp/TotalAmt013895
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02925
IRS990/PensionPlanContributionsGrp/TotalAmt02925
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0Ed Short
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0421054
IRS990/PYInvestmentIncomeAmt0903
IRS990/PYOtherExpensesAmt0266213
IRS990/PYOtherRevenueAmt0139155
IRS990/PYRevenuesLessExpensesAmt0109908
IRS990/PYSalariesCompEmpBnftPaidAmt0184991
IRS990/PYTotalExpensesAmt0451204
IRS990/PYTotalRevenueAmt0561112
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0174449
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt034100
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0443921
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0618370
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0320189
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0194482
IRS990ScheduleA/GovernmentalUnitInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt018962
IRS990ScheduleD/EquipmentGrp/DepreciationAmt020919
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt039881
IRS990ScheduleD/LandGrp/BookValueAmt0208038
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0208038
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0444509
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1100972
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Edward Jones Investment
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1A-OAA Incubator-SIB
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0227000
IRS990ScheduleD/TotalLiabilityAmt0545481
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/TotalAssetsBOYAmt01131267
IRS990/TotalAssetsEOYAmt01167838
IRS990/TotalAssetsGrp/BOYAmt01131267
IRS990/TotalAssetsGrp/EOYAmt01167838
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0455858
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt032188
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0438154
IRS990/TotalFunctionalExpensesGrp/TotalAmt0470342
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0687346
IRS990/TotalLiabilitiesEOYAmt0549468
IRS990/TotalLiabilitiesGrp/BOYAmt0687346
IRS990/TotalLiabilitiesGrp/EOYAmt0549468
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0443921
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0618370
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0438154

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,167,838
Liabilities
$549,468
Net assets
$618,370
Revenue
$644,791
Expenses
$470,342
Net income
$174,449
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