Civic Intelligence

Covington County Economic Development Comm

990 • Fiscal year 2022 • EIN 62-1504373

Oct 01, 2021 to Sep 30, 2022 • Filed on Aug 09, 2023

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

83rd percentile

0.47x

Higher debt load relative to assets than 83% of similar nonprofits.

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

Liabilities / Revenue

92nd percentile

0.88x

Higher debt load relative to revenue than 92% of similar nonprofits.

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

Net Margin

12th percentile

-13%

Higher net margin than 12% of similar nonprofits.

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

Top Officer Pay

26th percentile

$0

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

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

Asset Growth

16th percentile

-12%

Faster asset growth than 16% of similar nonprofits.

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

Revenue Growth

11th percentile

-16%

Faster revenue growth than 11% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$1,025,199

Down $142,639 (-12%) from 2021

Net Assets

Down

$547,820

Down $70,550 (-11%) from 2021

Liabilities

Down

$477,379

Down $72,089 (-13%) from 2021

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin12th percentile

Revenue

Down

$539,970

Down $104,821 (-16%) from 2021

Expenses

Up

$610,520

Up $140,178 (+30%) from 2021

Net Income

Down

-$70,550

Down $244,999 (-140%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth16th 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

2022

Assets$1,025,199
Liabilities$477,379
Net Assets$547,820
Open 2022 Filing

Operations Trend

Revenue Growth11th 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

2022

Revenue$539,970
Expenses$610,520
Net Income-$70,550
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Aug 9, 2023
Return Version
2021v4.2
Gross Receipts
$822,646
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$618,370$547,820▼ $70,550
Investments in Publicly Traded Securities$444,510$416,447▼ $28,063
Land, Buildings, and Equipment, Net$227,000$223,473▼ $3,527
Other Notes and Loans Receivable, Net$200,874$188,096▼ $12,778
Savings and Temporary Cash Investments$194,482$138,643▼ $55,839
Cash and Non-Interest-Bearing Accounts$100,972$58,540▼ $42,432
Total Assets$1,167,838$1,025,199▼ $142,639
Liabilities
Other Liabilities$545,481$474,987▼ $70,494
Accounts Payable and Accrued Expenses$3,987$2,392▼ $1,595
Total Liabilities$549,468$477,379▼ $72,089
Net Assets / Fund Balance
Total Net Assets Fund Balance$618,370$547,820▼ $70,550
Total Liabilities and Net Assets / Fund Balance$1,167,838$1,025,199▼ $142,639

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$15,435$24,446$39,881
Land$208,038--
Compensation and Service Providers
Top Officer Pay26th 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
Terry HolleyDirector
James R CliftonExecutive Director
Tom LaneSecTreaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$474,024
Program Service Revenue
$0
Investment Income
$-22,932
Other Revenue
$88,878
All Other Contributions
$414,724
Change in Net Assets
$-70,550
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$410,243
Salaries, Compensation, and Employee Benefits$200,277
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$121,073--$121,073
Travel$101,309--$101,309
Conferences and Meetings$78,134--$78,134
Other Expenses$72,633--$72,633
Other Salaries and Wages$62,073--$62,073
All Other Expenses$31,733--$31,733
Occupancy$22,507--$22,507
Payroll Taxes$14,206--$14,206
Office Expenses$4,490$4,489-$8,979
Insurance-$8,602-$8,602
Information Technology$2,648$2,648-$5,296
Fees for Services Accounting-$5,050-$5,050
Depreciation Depletion$3,527--$3,527
Pension Plan Contributions$2,925--$2,925
Advertising-$36-$36
Total Functional Expenses$589,695$20,825$0$610,520
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$416,447
A-OAA Incubator-SIB$58,540
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
2023-08-09
Discuss with paid preparer
No

Organization Details

Principal Officer
Ed Short
Formed
1992
Legal Domicile
Al
Voting Board Members
17
Independent Board Members
16
Employees
2

Preparer

Firm
White McClung and Barber LLC
Address
218 South Three Notch St, Andalusia, AL 36420
Preparer
Wayne Linton CPA
Phone
3342223087
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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/NetAssetsOrFundBalancesBOYAmt0618370
IRS990/NetAssetsOrFundBalancesEOYAmt0547820
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-32051
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-32051
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt037352
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt037352
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt022507
IRS990/OccupancyGrp/TotalAmt022507
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04489
IRS990/OfficeExpensesGrp/ProgramServicesAmt04490
IRS990/OfficeExpensesGrp/TotalAmt08979
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/ProgramServicesAmt023075
IRS990/OtherExpensesGrp/ProgramServicesAmt129620
IRS990/OtherExpensesGrp/ProgramServicesAmt219742
IRS990/OtherExpensesGrp/ProgramServicesAmt372633
IRS990/OtherExpensesGrp/TotalAmt023075
IRS990/OtherExpensesGrp/TotalAmt129620
IRS990/OtherExpensesGrp/TotalAmt219742
IRS990/OtherExpensesGrp/TotalAmt372633
IRS990/OtherLiabilitiesGrp/BOYAmt0545481
IRS990/OtherLiabilitiesGrp/EOYAmt0474987
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/BusinessCd2900099
IRS990/OtherRevenueMiscGrp/Desc0Transfer In
IRS990/OtherRevenueMiscGrp/Desc1Other
IRS990/OtherRevenueMiscGrp/Desc2Disaster Relief
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt051526
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt051526
IRS990/OtherRevenueTotalAmt051526
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt062073
IRS990/OtherSalariesAndWagesGrp/TotalAmt062073
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0200874
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0188096
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt014206
IRS990/PayrollTaxesGrp/TotalAmt014206
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02925
IRS990/PensionPlanContributionsGrp/TotalAmt02925
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0Ed Short
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0455858
IRS990/PYGrantsAndSimilarPaidAmt012340
IRS990/PYInvestmentIncomeAmt01024
IRS990/PYOtherExpensesAmt0265236
IRS990/PYOtherRevenueAmt0187909
IRS990/PYRevenuesLessExpensesAmt0174449
IRS990/PYSalariesCompEmpBnftPaidAmt0192766
IRS990/PYTotalExpensesAmt0470342
IRS990/PYTotalRevenueAmt0644791
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-70550
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt037352
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0618370
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0547820
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0194482
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0138643
IRS990ScheduleA/GovernmentalUnitInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt015435
IRS990ScheduleD/EquipmentGrp/DepreciationAmt024446
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt039881
IRS990ScheduleD/LandGrp/BookValueAmt0208038
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0208038
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0416447
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt158540
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Edward Jones Investment
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1A-OAA Incubator-SIB
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0223473
IRS990ScheduleD/TotalLiabilityAmt0474987
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/TotalAssetsBOYAmt01167838
IRS990/TotalAssetsEOYAmt01025199
IRS990/TotalAssetsGrp/BOYAmt01167838
IRS990/TotalAssetsGrp/EOYAmt01025199
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0474024
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt020825
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0589695
IRS990/TotalFunctionalExpensesGrp/TotalAmt0610520
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0549468
IRS990/TotalLiabilitiesEOYAmt0477379
IRS990/TotalLiabilitiesGrp/BOYAmt0549468
IRS990/TotalLiabilitiesGrp/EOYAmt0477379
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0618370
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0547820
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0589695
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt065946
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0539970
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01167838
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01025199
IRS990/TotReportableCompRltdOrgAmt00

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Filings

Displayed year

2022 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,025,199
Liabilities
$477,379
Net assets
$547,820
Revenue
$539,970
Expenses
$610,520
Net income
-$70,550
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