Civic Intelligence

Gadsden-Etowah Industrial Development Authority

990 • Fiscal year 2020 • EIN 63-0888911

Oct 01, 2019 to Sep 30, 2020 • Filed on Feb 14, 2021

Organization ProfileWWW.GADSDENIDA.ORG
P O Box 271Gadsden, AL 35902

(256) 543-9423

Siviq Scores

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

Liabilities / Assets

31st percentile

0.01x

Higher debt load relative to assets than 31% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

31st percentile

0.01x

Higher debt load relative to revenue than 31% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Net Margin

78th percentile

19%

Higher net margin than 78% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

74th percentile

$113,995

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 27.2% of source-year revenue.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Asset Growth

72nd percentile

17%

Faster asset growth than 72% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

85th percentile

11%

Faster revenue growth than 85% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$551,997

Up $78,495 (+17%) from 2019

Net Assets

Up

$547,444

Up $78,958 (+17%) from 2019

Liabilities

Down

$4,553

Down $463 (-9.2%) from 2019

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin78th percentile

Revenue

Up

$418,688

Up $41,486 (+11%) from 2019

Expenses

Up

$339,730

Up $103,101 (+44%) from 2019

Net Income

Down

$78,958

Down $61,615 (-44%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth72nd percentile

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

$1.5M$1.0M$500K$0Assets 2011: $196,768Liabilities 2011: $4,197Net Assets 2011: $192,5712011Assets 2012: $155,894Liabilities 2012: $1,128Net Assets 2012: $154,7662012Assets 2013: $78,413Liabilities 2013: $8,888Net Assets 2013: $69,5252013Assets 2014: $136,556Liabilities 2014: $8,420Net Assets 2014: $128,1362014Assets 2015: $152,246Liabilities 2015: $7,349Net Assets 2015: $144,8972015Assets 2016: $77,928Liabilities 2016: $703Net Assets 2016: $77,2252016Assets 2017: $126,935Liabilities 2017: $1,746Net Assets 2017: $125,1892017Assets 2018: $329,714Liabilities 2018: $1,801Net Assets 2018: $327,9132018Assets 2019: $473,502Liabilities 2019: $5,016Net Assets 2019: $468,4862019Assets 2020: $551,997Liabilities 2020: $4,553Net Assets 2020: $547,4442020Assets 2021: $663,197Liabilities 2021: $4,538Net Assets 2021: $658,6592021Assets 2022: $719,252Liabilities 2022: $10,293Net Assets 2022: $708,9592022Assets 2023: $841,609Liabilities 2023: $14,839Net Assets 2023: $826,7702023Assets 2024: $1,035,686Liabilities 2024: $92,900Net Assets 2024: $942,7862024Assets 2025: $1,059,690Liabilities 2025: $79,622Net Assets 2025: $980,0682025

Highlighted filing

2020

Assets$551,997
Liabilities$4,553
Net Assets$547,444
Open 2020 Filing

Operations Trend

Revenue Growth85th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2011: $475,053Expenses 2011: $474,927Net Income 2011: $1262011Revenue 2012: $407,676Expenses 2012: $445,481Net Income 2012: -$37,8052012Revenue 2013: $431,641Expenses 2013: $516,884Net Income 2013: -$85,2432013Revenue 2014: $436,962Expenses 2014: $431,143Net Income 2014: $5,8192014Revenue 2015: $430,000Expenses 2015: $413,239Net Income 2015: $16,7612015Revenue 2016: $179,080Expenses 2016: $246,752Net Income 2016: -$67,6722016Revenue 2017: $200,007Expenses 2017: $152,043Net Income 2017: $47,9642017Revenue 2018: $374,000Expenses 2018: $171,276Net Income 2018: $202,7242018Revenue 2019: $377,202Expenses 2019: $236,629Net Income 2019: $140,5732019Revenue 2020: $418,688Expenses 2020: $339,730Net Income 2020: $78,9582020Revenue 2021: $457,186Expenses 2021: $345,971Net Income 2021: $111,2152021Revenue 2022: $415,686Expenses 2022: $365,386Net Income 2022: $50,3002022Revenue 2023: $562,433Expenses 2023: $444,622Net Income 2023: $117,8112023Revenue 2024: $627,839Expenses 2024: $511,823Net Income 2024: $116,0162024Revenue 2025: $619,213Expenses 2025: $581,931Net Income 2025: $37,2822025

Highlighted filing

2020

Revenue$418,688
Expenses$339,730
Net Income$78,958
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Feb 14, 2021
Return Version
2019v5.0
Gross Receipts
$418,688
Mission and Program Overview

Mission

To promote industry and develop trade by inducing manufacturing, industrial, and commercial enterprises to locate in etowah county, alabama

To work with local governments to attract and expand local businesses

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$205,202$308,890▲ $103,688
Cash and Non-Interest-Bearing Accounts$235,730$209,163▼ $26,567
Land, Buildings, and Equipment, Net$32,570$33,944▲ $1,374
Total Assets$473,502$551,997▲ $78,495
Liabilities
Accounts Payable and Accrued Expenses$5,016$4,553▼ $463
Total Liabilities$5,016$4,553▼ $463
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$440,992$519,950▲ $78,958
Net Assets With Donor Restrictions$27,494$27,494→ $0
Total Net Assets Fund Balance$468,486$547,444▲ $78,958
Total Liabilities and Net Assets / Fund Balance$473,502$551,997▲ $78,495

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$22,332$169,175$191,507
Leasehold Improvements$11,612$6,516$18,128
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James D HooksExecutive DiFT$95,000$18,995$113,995
William GreeneDeputy ExecuFT$67,533$16,641$84,174

Board Members and Trustees

NameTitle
Larry MeansPresident
Alan CosbyDirector
Carol GillilandDirector
Chad HareDirector
Earl HeardDirector
Greg BennettDirector
Jan RoweDirector
John ReedDirector
Martha LavenderDirector
Mike HarrisDirector
Mike ShannonDirector
Steve HildebrantDirector
Tim HeardDirector
Tim MccartneyDirector
Tony ReddickDirector
Wilbur MastersDirector
Harry MclendonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$415,000
Investment Income
$3,688
Other Revenue
$0
Change in Net Assets
$78,958

Audited Revenue Reconciliation

Revenue per Audited Statements
$418,688
Total Revenue per Audited Statements
$418,688
Total Revenue per Form 990
$418,688
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$229,716
Other Expenses$110,014
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$148,627$49,543-$198,170
Travel$19,405$288-$19,693
Occupancy$13,188$4,397-$17,585
Payroll Taxes$10,688$3,563-$14,251
Other Salaries and Wages$8,312$2,771-$11,083
Advertising$10,187--$10,187
Depreciation Depletion$6,587$2,196-$8,783
Information Technology$4,065$4,065-$8,130
Fees for Services Accounting$5,907$1,969-$7,876
Other Employee Benefits$4,659$1,553-$6,212
Insurance$3,317$1,105-$4,422
Office Expenses$2,719$1,668-$4,387
Conferences and Meetings$3,268--$3,268
Other Expenses$2,804$2,313-$2,804
All Other Expenses$836$292-$1,128
Total Functional Expenses$259,726$80,004$0$339,730

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$339,730
Total Expenses per Audited Statements$339,730
Total Expenses per Form 990$339,730
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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, Page 6, Part VI, Line 11B

“The 990 is reviewed and approved by the board treasurer and board of directors before submission”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available upon request”

Filing and Contact Details

Filer

Filer Name
Gadsden-etowah Industrial
EIN
63-0888911
Phone
2565439423
Address
P O BOX 271, GADSDEN, AL 35902

Signing Officer

Name
Larry Means
Title
President
Phone
2565439423
Signed
2021-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Larry Means
Formed
1984
Legal Domicile
Al
Voting Board Members
17
Independent Board Members
17
Employees
2

Preparer

Firm
Gerald G Pentecost Jr CPA
Address
116 CHURCH ST STE 1, RAINBOW CITY, AL 35906
Preparer
Gerald G Pentecost Jr CPA
Phone
2564594310
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt032570
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IRS990/LandBldgEquipCostOrOtherBssAmt0209635
IRS990/LegalDomicileStateCd0AL
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingOtherInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO PROMOTE INDUSTRY AND DEVELOP TRADE BY INDUCING MANUFACTURING, INDUSTRIAL, AND COMMERCIAL ENTERPRISES TO LOCATE IN ETOWAH COUNTY, ALABAMA
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt0547444
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0440992
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0519950
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt04397
IRS990/OccupancyGrp/ProgramServicesAmt013188
IRS990/OccupancyGrp/TotalAmt017585
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01668
IRS990/OfficeExpensesGrp/ProgramServicesAmt02719
IRS990/OfficeExpensesGrp/TotalAmt04387
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01553
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt04659
IRS990/OtherEmployeeBenefitsGrp/TotalAmt06212
IRS990/OtherExpensesGrp/Desc0AUTO AND TRANSPORTATION
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IRS990/OtherExpensesGrp/Desc2EQUIPMENT MAINTENANCE
IRS990/OtherExpensesGrp/Desc3PROFESSIONAL ORG DUES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02383
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11898
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt22313
IRS990/OtherExpensesGrp/ProgramServicesAmt07150
IRS990/OtherExpensesGrp/ProgramServicesAmt15694
IRS990/OtherExpensesGrp/ProgramServicesAmt22313
IRS990/OtherExpensesGrp/ProgramServicesAmt32804
IRS990/OtherExpensesGrp/TotalAmt09533
IRS990/OtherExpensesGrp/TotalAmt17592
IRS990/OtherExpensesGrp/TotalAmt24626
IRS990/OtherExpensesGrp/TotalAmt32804
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt02771
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt08312
IRS990/OtherSalariesAndWagesGrp/TotalAmt011083
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03563
IRS990/PayrollTaxesGrp/ProgramServicesAmt010688
IRS990/PayrollTaxesGrp/TotalAmt014251
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0LARRY MEANS
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0415000
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt05202
IRS990/PYOtherExpensesAmt093587
IRS990/PYProgramServiceRevenueAmt0372000
IRS990/PYRevenuesLessExpensesAmt0140573
IRS990/PYSalariesCompEmpBnftPaidAmt0143042
IRS990/PYTotalExpensesAmt0236629
IRS990/PYTotalRevenueAmt0377202
IRS990/ReconcilationRevenueExpnssAmt078958
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0205202
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0308890
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt022332
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0169175
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0191507
IRS990ScheduleD/ExpensesSubtotalAmt0339730
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt011612
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt06516
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt018128
IRS990ScheduleD/RevenueSubtotalAmt0418688
IRS990ScheduleD/TotalBookValueLandBuildingsAmt033944
IRS990ScheduleD/TotalExpensesPerForm990Amt0339730
IRS990ScheduleD/TotalRevenuePerForm990Amt0418688
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0418688
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0339730
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS REVIEWED AND APPROVED BY THE BOARD TREASURER AND BOARD OF DIRECTORS BEFORE SUBMISSION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0551997
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IRS990/TotalAssetsGrp/EOYAmt0551997
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IRS990/TotalEmployeeCnt02
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0259726
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalProgramServiceExpensesAmt0259726
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IRS990/TotalReportableCompFromOrgAmt0162533
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0473502
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0551997
IRS990/TravelGrp/ManagementAndGeneralAmt0288
IRS990/TravelGrp/ProgramServicesAmt019405
IRS990/TravelGrp/TotalAmt019693
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0ONE COMMERCE SQUARE
IRS990/USAddress/CityNm0GADSDEN
IRS990/USAddress/StateAbbreviationCd0AL
IRS990/USAddress/ZIPCd035901
IRS990/VotingMembersGoverningBodyCnt017
IRS990/VotingMembersIndependentCnt017
IRS990/WebsiteAddressTxt0WWW.GADSDENIDA.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LARRY MEANS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02565439423
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-02-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GADSDEN-ETOWAH INDUSTRIAL
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT AUTHORITY
ReturnHeader/Filer/BusinessNameControlTxt0GADS
ReturnHeader/Filer/EIN0630888911
ReturnHeader/Filer/PhoneNum02565439423
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 271

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$551,997
Liabilities
$4,553
Net assets
$547,444
Revenue
$418,688
Expenses
$339,730
Net income
$78,958
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.06$0.08$0.98$0.62$0.58$0.04
2024Summary only. Only limited summary data is available for this year.$1.04$0.09$0.94$0.63$0.51$0.12
2023Summary only. Only limited summary data is available for this year.$0.84$0.01$0.83$0.56$0.44$0.12
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.72$0.01$0.71$0.42$0.37$0.05
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.66$0.00$0.66$0.46$0.35$0.11
2020Detailed filing. Detailed filing data is available for this year.$0.55$0.00$0.55$0.42$0.34$0.08
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.47$0.01$0.47$0.38$0.24$0.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.33$0.00$0.33$0.37$0.17$0.20
2017Summary only. Only limited summary data is available for this year.$0.13$0.00$0.13$0.20$0.15$0.05
2016Summary only. Only limited summary data is available for this year.$0.08$0.00$0.08$0.18$0.25$0.07
2015Summary only. Only limited summary data is available for this year.$0.15$0.01$0.14$0.43$0.41$0.02
2014Summary only. Only limited summary data is available for this year.$0.14$0.01$0.13$0.44$0.43$0.01
2013Summary only. Only limited summary data is available for this year.$0.08$0.01$0.07$0.43$0.52$0.09
2012Summary only. Only limited summary data is available for this year.$0.16$0.00$0.15$0.41$0.45$0.04
2011Summary only. Only limited summary data is available for this year.$0.20$0.00$0.19$0.48$0.47$0.00