Civic Intelligence

Covington County Economic Development Comm

990 • Fiscal year 2023 • EIN 62-1504373

Oct 01, 2022 to Sep 30, 2023 • Filed on Jun 24, 2024

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

81st percentile

0.34x

Higher debt load relative to assets than 81% of similar nonprofits.

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

Liabilities / Revenue

89th percentile

0.50x

Higher debt load relative to revenue than 89% of similar nonprofits.

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

Net Margin

11th percentile

-16%

Higher net margin than 11% of similar nonprofits.

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

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

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

Asset Growth

5th percentile

-31%

Faster asset growth than 5% of similar nonprofits.

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

Revenue Growth

13th percentile

-12%

Faster revenue growth than 13% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$710,301

Down $314,898 (-31%) from 2022

Net Assets

Down

$470,603

Down $77,217 (-14%) from 2022

Liabilities

Down

$239,698

Down $237,681 (-50%) from 2022

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin11th percentile

Revenue

Down

$475,240

Down $64,730 (-12%) from 2022

Expenses

Down

$552,457

Down $58,063 (-9.5%) from 2022

Net Income

Down

-$77,217

Down $6,667 (-9.5%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth5th 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

2023

Assets$710,301
Liabilities$239,698
Net Assets$470,603
Open 2023 Filing

Operations Trend

Revenue Growth13th 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

2023

Revenue$475,240
Expenses$552,457
Net Income-$77,217
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Jun 24, 2024
Return Version
2022v5.0
Gross Receipts
$699,665
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$547,820$470,603▼ $77,217
Land, Buildings, and Equipment, Net$223,473$221,859▼ $1,614
Investments in Publicly Traded Securities$416,447$201,281▼ $215,166
Other Notes and Loans Receivable, Net$188,096$185,545▼ $2,551
Cash and Non-Interest-Bearing Accounts$58,540$67,185▲ $8,645
Savings and Temporary Cash Investments$138,643$34,431▼ $104,212
Total Assets$1,025,199$710,301▼ $314,898
Liabilities
Other Liabilities$474,987$235,712▼ $239,275
Accounts Payable and Accrued Expenses$2,392$3,986▲ $1,594
Total Liabilities$477,379$239,698▼ $237,681
Net Assets / Fund Balance
Total Net Assets Fund Balance$547,820$470,603▼ $77,217
Total Liabilities and Net Assets / Fund Balance$1,025,199$710,301▼ $314,898

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,821$28,107$41,928
Land$208,038--
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Mark ParkerChairmanDirector
James CliftonPresidentCEO
Gary SmithVice ChairmanDirector
Jacob MorganVice PresidentSec
Becky BrackeDirector
Brent FloydDirector
Chris ThomasonDirector
Daniel WellsDirector
Earl V JohnsonDirector
Gail R RobbinsDirector
Greg WhiteDirector
Jed BlackwellDirector
Micah GarnerDirector
Michael AndrewsDirector
Patricia GunterDirector
Scott JeriganDirector
Shane ParkerDirector
Vickie DemursDirector
Greg HendersonTreaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$195,700
Program Service Revenue
$0
Investment Income
$-1,366
Other Revenue
$280,906
All Other Contributions
$110,450
Change in Net Assets
$-77,217
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$342,386
Salaries, Compensation, and Employee Benefits$210,071
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$125,868--$125,868
Travel$86,123--$86,123
Other Salaries and Wages$66,868--$66,868
Conferences and Meetings$61,939--$61,939
Information Technology$18,669$18,668-$37,337
Occupancy$33,944--$33,944
Other Expenses$20,835--$20,835
Payroll Taxes$14,860--$14,860
All Other Expenses$9,925--$9,925
Office Expenses$4,659$4,659-$9,318
Insurance-$8,779-$8,779
Fees for Services Accounting-$4,200-$4,200
Fees for Service Investment Mgmnt Fees-$3,719-$3,719
Depreciation Depletion$3,661--$3,661
Pension Plan Contributions-$2,475-$2,475
Advertising-$600-$600
Total Functional Expenses$509,357$43,100$0$552,457
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$201,356
A-OAA Incubator-SIB$34,356
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
Rick Clifton
Title
Exec Director
Phone
3342227040
Signed
2024-06-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Parker
Formed
1992
Legal Domicile
Al
Voting Board Members
17
Independent Board Members
17
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/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt018668
IRS990/InformationTechnologyGrp/ProgramServicesAmt018669
IRS990/InformationTechnologyGrp/TotalAmt037337
IRS990/InsuranceGrp/ManagementAndGeneralAmt08779
IRS990/InsuranceGrp/TotalAmt08779
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt013467
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt013467
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0416447
IRS990/InvestmentsPubTradedSecGrp/EOYAmt0201281
IRS990/IRPDocumentCnt04
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt028107
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0223473
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0221859
IRS990/LandBldgEquipCostOrOtherBssAmt0249966
IRS990/LegalDomicileStateCd0AL
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0224425
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/NetAssetsOrFundBalancesBOYAmt0547820
IRS990/NetAssetsOrFundBalancesEOYAmt0470603
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-14833
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-14833
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt031489
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt031489
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt033944
IRS990/OccupancyGrp/TotalAmt033944
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04659
IRS990/OfficeExpensesGrp/ProgramServicesAmt04659
IRS990/OfficeExpensesGrp/TotalAmt09318
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/ProgramServicesAmt032203
IRS990/OtherExpensesGrp/ProgramServicesAmt124708
IRS990/OtherExpensesGrp/ProgramServicesAmt25095
IRS990/OtherExpensesGrp/ProgramServicesAmt320835
IRS990/OtherExpensesGrp/TotalAmt032203
IRS990/OtherExpensesGrp/TotalAmt124708
IRS990/OtherExpensesGrp/TotalAmt25095
IRS990/OtherExpensesGrp/TotalAmt320835
IRS990/OtherLiabilitiesGrp/BOYAmt0474987
IRS990/OtherLiabilitiesGrp/EOYAmt0235712
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/BusinessCd2900099
IRS990/OtherRevenueMiscGrp/Desc0Transfer In
IRS990/OtherRevenueMiscGrp/Desc1Other
IRS990/OtherRevenueMiscGrp/Desc2Disaster Relief
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt019417
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1230000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt019417
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1230000
IRS990/OtherRevenueTotalAmt0249417
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt066868
IRS990/OtherSalariesAndWagesGrp/TotalAmt066868
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0188096
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0185545
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt014860
IRS990/PayrollTaxesGrp/TotalAmt014860
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt02475
IRS990/PensionPlanContributionsGrp/TotalAmt02475
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0Mark Parker
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0474024
IRS990/PYInvestmentIncomeAmt0-22932
IRS990/PYOtherExpensesAmt0410243
IRS990/PYOtherRevenueAmt088878
IRS990/PYRevenuesLessExpensesAmt0-70550
IRS990/PYSalariesCompEmpBnftPaidAmt0200277
IRS990/PYTotalExpensesAmt0610520
IRS990/PYTotalRevenueAmt0539970
IRS990/ReconcilationRevenueExpnssAmt0-77217
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt031489
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0547820
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0470603
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0138643
IRS990/SavingsAndTempCashInvstGrp/EOYAmt034431
IRS990ScheduleA/GovernmentalUnitInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt013821
IRS990ScheduleD/EquipmentGrp/DepreciationAmt028107
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt041928
IRS990ScheduleD/LandGrp/BookValueAmt0208038
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0208038
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0201356
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt134356
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Edward Jones Investment
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1A-OAA Incubator-SIB
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0221859
IRS990ScheduleD/TotalLiabilityAmt0235712
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/TotalAssetsBOYAmt01025199
IRS990/TotalAssetsEOYAmt0710301
IRS990/TotalAssetsGrp/BOYAmt01025199
IRS990/TotalAssetsGrp/EOYAmt0710301
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0195700
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt043100
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0509357
IRS990/TotalFunctionalExpensesGrp/TotalAmt0552457
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0477379
IRS990/TotalLiabilitiesEOYAmt0239698
IRS990/TotalLiabilitiesGrp/BOYAmt0477379

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$710,301
Liabilities
$239,698
Net assets
$470,603
Revenue
$475,240
Expenses
$552,457
Net income
-$77,217
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