Civic Intelligence

Holston Business Group

990 • Fiscal year 2018 • EIN 62-1845660

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 16, 2019

2005 Venture ParkKingsport, TN 37660

(423) 578-6235

Siviq Scores

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

Liabilities / Assets

41st percentile

0.01x

Higher debt load relative to assets than 41% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

60th percentile

0.06x

Higher debt load relative to revenue than 60% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

7th percentile

-42%

Higher net margin than 7% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

56th percentile

$23,127

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 18.8% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

22nd percentile

-7.2%

Faster asset growth than 22% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

77th percentile

26%

Faster revenue growth than 77% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Down

$677,109

Down $52,276 (-7.2%) from 2017

Net Assets

Down

$669,156

Down $52,296 (-7.2%) from 2017

Liabilities

Up

$7,953

Up $20 (+0.3%) from 2017

Revenue

Up

$123,214

Up $25,643 (+26%) from 2017

Expenses

Up

$175,510

Up $7,025 (+4.2%) from 2017

Net Income

Up

-$52,296

Up $18,618 (+26%) from 2017

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2011: $1,046,203Liabilities 2011: $13,002Net Assets 2011: $1,033,2012011Assets 2012: $1,015,789Liabilities 2012: $16,417Net Assets 2012: $999,3722012Assets 2013: $974,491Liabilities 2013: $17,494Net Assets 2013: $956,9972013Assets 2014: $930,197Liabilities 2014: $20,528Net Assets 2014: $909,6692014Assets 2015: $880,088Liabilities 2015: $22,808Net Assets 2015: $857,2802015Assets 2016: $826,992Liabilities 2016: $6,426Net Assets 2016: $820,5662016Assets 2017: $729,385Liabilities 2017: $7,933Net Assets 2017: $721,4522017Assets 2018: $677,109Liabilities 2018: $7,953Net Assets 2018: $669,1562018Assets 2019: $659,563Liabilities 2019: $8,122Net Assets 2019: $651,4412019Assets 2020: $632,892Liabilities 2020: $6,847Net Assets 2020: $626,0452020Assets 2021: $567,206Liabilities 2021: $6,416Net Assets 2021: $560,7902021Assets 2022: $525,692Liabilities 2022: $15,656Net Assets 2022: $510,0362022Assets 2023: $489,923Liabilities 2023: $7,703Net Assets 2023: $482,2202023Assets 2024: $470,454Liabilities 2024: $4,035Net Assets 2024: $466,4192024

Highlighted filing

2018

Assets$677,109
Liabilities$7,953
Net Assets$669,156

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2011: $120,619Expenses 2011: $180,967Net Income 2011: -$60,3482011Revenue 2012: $133,688Expenses 2012: $167,517Net Income 2012: -$33,8292012Revenue 2013: $147,633Expenses 2013: $190,008Net Income 2013: -$42,3752013Revenue 2014: $149,463Expenses 2014: $196,791Net Income 2014: -$47,3282014Revenue 2015: $148,112Expenses 2015: $200,501Net Income 2015: -$52,3892015Revenue 2016: $140,494Expenses 2016: $177,208Net Income 2016: -$36,7142016Revenue 2017: $97,571Expenses 2017: $168,485Net Income 2017: -$70,9142017Revenue 2018: $123,214Expenses 2018: $175,510Net Income 2018: -$52,2962018Revenue 2019: $159,229Expenses 2019: $176,944Net Income 2019: -$17,7152019Revenue 2020: $153,188Expenses 2020: $178,584Net Income 2020: -$25,3962020Revenue 2021: $111,331Expenses 2021: $176,586Net Income 2021: -$65,2552021Revenue 2022: $117,127Expenses 2022: $167,881Net Income 2022: -$50,7542022Revenue 2023: $149,064Expenses 2023: $176,880Net Income 2023: -$27,8162023Revenue 2024: $167,157Expenses 2024: $182,958Net Income 2024: -$15,8012024

Highlighted filing

2018

Revenue$123,214
Expenses$175,510
Net Income-$52,296
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 16, 2019
Return Version
2018v3.1
Gross Receipts
$123,214
Mission and Program Overview

Mission

The Holston Business Group, a public/private partnership, supports nurtures the entrepreneurial spirit to create diverse businesses jobs which benefit the citizens of the greater Kingsport/Hawkins County area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$601,569$572,212▼ $29,357
Savings and Temporary Cash Investments$98,547$78,733▼ $19,814
Cash and Non-Interest-Bearing Accounts$25,357$22,669▼ $2,688
Prepaid Expenses and Deferred Charges$3,462$3,102▼ $360
Accounts Receivable$450$393▼ $57
Total Assets$729,385$677,109▼ $52,276
Liabilities
Accounts Payable and Accrued Expenses$2,879$4,128▲ $1,249
Other Liabilities$5,054$3,825▼ $1,229
Total Liabilities$7,933$7,953▲ $20
Net Assets / Fund Balance
Unrestricted Net Assets$721,452$669,156▼ $52,296
Total Net Assets Fund Balance$721,452$669,156▼ $52,296
Total Liabilities and Net Assets / Fund Balance$729,385$677,109▼ $52,276

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$549,027$344,305-
Other Land Buildings$3,992$16,888-
Equipment$15,505$38,585-
Leasehold Improvements$3,688$9,635-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Aaron SmithDirectorFT$23,127$23,127

Board Members and Trustees

NameTitle
Ken FrohlichPresident
Dennis PhillipsVice President
Anthony JohnsonBoard Member
Aundrea WilcoxBoard Member
Chip ZimmermanBoard Member
Jeff FlemingBoard Member
Jeff McCordBoard Member
Jim LeeBoard Member
John ClarkBoard Member
Keener MallicoteBoard Member
Melville BaileyBoard Member
Michael LattierBoard Member
Nancy BarkerBoard Member
Rebecca BakerBoard Member
Rick ParkerBoard Member
Stacy VaughnBoard Member
Larry ElkinsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$11,597
Program Service Revenue
$111,406
Investment Income
$186
Other Revenue
$25
All Other Contributions
$11,597
Change in Net Assets
$-52,296

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Commercial1$9,999Fair Market Value (FMV)
Other Non Cash Contri Table2$1,598Retail
Total Noncash Contributions3$11,597-

Audited Revenue Reconciliation

Revenue per Audited Statements
$123,214
Total Revenue per Audited Statements
$123,214
Total Revenue per Form 990
$123,214
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$151,792
Salaries, Compensation, and Employee Benefits$23,718
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$52,000--$52,000
Occupancy$34,176--$34,176
Depreciation Depletion$30,954--$30,954
Other Salaries and Wages$21,942--$21,942
Fees for Services Accounting$8,372--$8,372
Office Expenses$6,178--$6,178
Insurance$5,222--$5,222
Information Technology$3,915--$3,915
Payroll Taxes$1,776--$1,776
Conferences and Meetings$1,147--$1,147
Advertising$532--$532
Travel$469--$469
Other Expenses$36--$36
Total Functional Expenses$175,510$0$0$175,510

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$175,510
Total Expenses per Audited Statements$175,510
Total Expenses per Form 990$175,510
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$3,825
Accrued salaries related expenses-
Tenant affiliate deposits-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

A copy of the form 990 is reviewed by the incubator director. At this time, no members of the Board are included in this process.

Form 990, Part VI, Section C, Line 19

Documents and policies are available upon request at the Groups location.

Filing and Contact Details

Filer

Filer Name
Holston Business Group
EIN
62-1845660
Phone
4235786235
Address
2005 Venture Park, Kingsport, TN 37660
Doing Business As
Holston Business Development Center

Signing Officer

Name
Larry Elkins
Title
Secretary
Phone
4235786235
Signed
2019-07-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Larry Elkins
Formed
2001
Legal Domicile
Tn
Voting Board Members
17
Independent Board Members
17
Employees
1

Preparer

Firm
David M Ellis CPA
Address
132 West Depot Street, Greeneville, TN 37743
Preparer
David M Ellis
Phone
4237870855
Supplemental Narrative

Financial Statement Notes

X 2

Holston Business Group is exempt from federal income tax under Section 501c3 of the Internal Revenue Code and, accordingly, no provision for income taxes has been included in the accompanying financial statements. However, income from certain activities not directly related ot the Groups tax-exempt purpose is subject to taxation as unrelated business income. The Group files income tax returns in the U.S. federal jurisdiction. The Groups income tax filings are subject to audit by various taxing authorities. The Groups open audit periods are 2015-2018. The Group believes that it has appropriate support for any tax positions taken and, as such, does not have any uncertain tax positions that are material to the financial statements.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Holston Business Group is exempt from federal income tax under Section 501c3 of the Internal Revenue Code and, accordingly, no provision for income taxes has been included in the accompanying financial statements. However, income from certain activities not directly related ot the Groups tax-exempt purpose is subject to taxation as unrelated business income. The Group files income tax returns in the U.S. federal jurisdiction. The Groups income tax filings are subject to audit by various taxing authorities. The Groups open audit periods are 2015-2018. The Group believes that it has appropriate support for any tax positions taken and, as such, does not have any uncertain tax positions that are material to the financial statements.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.47$0.00$0.47$0.17$0.18$0.02
2023Detailed filing. Detailed filing data is available for this year.$0.49$0.01$0.48$0.15$0.18$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.53$0.02$0.51$0.12$0.17$0.05
2021Detailed filing. Detailed filing data is available for this year.$0.57$0.01$0.56$0.11$0.18$0.07
2020Detailed filing. Detailed filing data is available for this year.$0.63$0.01$0.63$0.15$0.18$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.66$0.01$0.65$0.16$0.18$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.68$0.01$0.67$0.12$0.18$0.05
2017Detailed filing. Detailed filing data is available for this year.$0.73$0.01$0.72$0.10$0.17$0.07
2016Detailed filing. Detailed filing data is available for this year.$0.83$0.01$0.82$0.14$0.18$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.88$0.02$0.86$0.15$0.20$0.05
2014Summary only. Only limited summary data is available for this year.$0.93$0.02$0.91$0.15$0.20$0.05
2013Summary only. Only limited summary data is available for this year.$0.97$0.02$0.96$0.15$0.19$0.04
2012Summary only. Only limited summary data is available for this year.$1.02$0.02$1.00$0.13$0.17$0.03
2011Summary only. Only limited summary data is available for this year.$1.05$0.01$1.03$0.12$0.18$0.06
Peer Organizations

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