Civic Intelligence

Desoto County Economic Development Council Inc

990 • Fiscal year 2015 • EIN 64-0616656

Jan 01, 2015 to Dec 31, 2015 • Filed on Jul 15, 2016

Organization ProfileWWW.DESOTOCOUNTY.COM

View Organization Page

316 W Commerce StHernando, MS 38632

(662) 429-4414

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Net Margin

25th percentile

-1.9%

Higher net margin than 25% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

79th percentile

$234,336

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 26.0% of source-year revenue.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Asset Growth

33rd percentile

-1.6%

Faster asset growth than 33% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

74th percentile

11%

Faster revenue growth than 74% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets9th percentile

Assets

Down

$1,055,218

Down $17,153 (-1.6%) from 2014

Net Assets

Down

$1,055,218

Down $17,153 (-1.6%) from 2014

Liabilities

Flat

$0

Flat from 2014

Revenue And Expenses
Liabilities / Revenue9th percentileNet Margin25th percentile

Revenue

Up

$900,855

Up $92,175 (+11%) from 2014

Expenses

Up

$918,008

Up $174,886 (+24%) from 2014

Net Income

Down

-$17,153

Down $82,711 (-126%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

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

$1.5M$1.0M$500K$0Assets 2010: $817,444Liabilities 2010: $0Net Assets 2010: $817,4442010Assets 2011: $877,848Liabilities 2011: $0Net Assets 2011: $877,8482011Assets 2012: $990,546Liabilities 2012: $0Net Assets 2012: $990,5462012Assets 2013: $1,006,813Liabilities 2013: $0Net Assets 2013: $1,006,8132013Assets 2014: $1,072,371Liabilities 2014: $0Net Assets 2014: $1,072,3712014Assets 2015: $1,055,218Liabilities 2015: $0Net Assets 2015: $1,055,2182015Assets 2016: $560,538Liabilities 2016: $0Net Assets 2016: $560,5382016Assets 2017: $512,870Liabilities 2017: $0Net Assets 2017: $512,8702017Assets 2018: $456,892Liabilities 2018: $0Net Assets 2018: $456,8922018Assets 2019: $563,800Liabilities 2019: $0Net Assets 2019: $563,8002019Assets 2020: $897,293Liabilities 2020: $0Net Assets 2020: $897,2932020Assets 2021: $791,749Liabilities 2021: $0Net Assets 2021: $791,7492021Assets 2022: $674,247Liabilities 2022: $14,871Net Assets 2022: $659,3762022Assets 2023: $719,565Liabilities 2023: $18,386Net Assets 2023: $701,1792023Assets 2024: $834,719Liabilities 2024: $23,745Net Assets 2024: $810,9742024

Highlighted filing

2015

Assets$1,055,218
Liabilities$0
Net Assets$1,055,218
Open 2015 Filing

Operations Trend

Revenue Growth74th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $640,2282010Expenses 2011: $662,9102011Expenses 2012: $746,8672012Revenue 2013: $716,135Expenses 2013: $699,868Net Income 2013: $16,2672013Revenue 2014: $808,680Expenses 2014: $743,122Net Income 2014: $65,5582014Revenue 2015: $900,855Expenses 2015: $918,008Net Income 2015: -$17,1532015Revenue 2016: $768,826Expenses 2016: $1,263,506Net Income 2016: -$494,6802016Revenue 2017: $684,243Expenses 2017: $731,911Net Income 2017: -$47,6682017Revenue 2018: $710,249Expenses 2018: $766,227Net Income 2018: -$55,9782018Revenue 2019: $831,312Expenses 2019: $724,404Net Income 2019: $106,9082019Revenue 2020: $1,013,523Expenses 2020: $680,030Net Income 2020: $333,4932020Revenue 2021: $866,441Expenses 2021: $738,334Net Income 2021: $128,1072021Revenue 2022: $878,105Expenses 2022: $1,022,457Net Income 2022: -$144,3522022Revenue 2023: $972,815Expenses 2023: $931,012Net Income 2023: $41,8032023Revenue 2024: $1,089,408Expenses 2024: $979,613Net Income 2024: $109,7952024

Highlighted filing

2015

Revenue$900,855
Expenses$918,008
Net Income-$17,153
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jul 15, 2016
Return Version
2015v2.1
Gross Receipts
$925,671
Mission and Program Overview

Mission

Desoto county economic development council's primary exempt purpose is to develop, coordinate and recruit new and expanded industry,business and trade in desoto county. The council also was a part of an education- industry partnershp that created a new career tech center in olive branch to promote job creation and training programs to meet the growing needs of the county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$730,662$693,753▼ $36,909
Land, Buildings, and Equipment, Net$250,834$249,970▼ $864
Cash and Non-Interest-Bearing Accounts$121$122▲ $1
Total Assets$1,072,371$1,055,218▼ $17,153
Other Assets Total$90,754$111,373▲ $20,619
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Temporarily Rstr Net Assets$578,369$568,813▼ $9,556
Unrestricted Net Assets$494,002$486,405▼ $7,597
Total Net Assets Fund Balance$1,072,371$1,055,218▼ $17,153
Total Liabilities and Net Assets / Fund Balance$1,072,371$1,055,218▼ $17,153

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$161,289$146,991$308,280
Land$86,296-$86,296
Equipment$2,385$898$3,283
Other Assets Org$111,373--
Compensation and Service Providers
Top Officer Pay79th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James FlanaganExecutive DiFT$223,000$11,336$234,336
James FlanaganExecutive Direc-$223,000$11,336$234,336

Board Members and Trustees

NameTitle
George ReadyChairman
Barry BouchillonPast Chairma
Shawn ClaytonVice Chairma
Adam KraftBoard Member
Billy MyersBoard Member
Brian WalhoodBoard Member
Chuck TomlinsonBoard Member
David BaytosBoard Member
David FoellBoard Member
Doug FreezeBoard Member
Emily RyggBoard Member
Jim WebsterBoard Member
John EatonBoard Member
Karla WisinskiBoard Member
Kevin DoddridgeBoard Member
Lee SmartBoard Member
Louis PatronBoard Member
Michael LeonardBoard Member
Peggy LeighBoard Member
Peter FelsenthalBoard Member
Raymond HollinsBoard Member
Rick GregoryBoard Member
Rick WeedenBoard Member
Shad SimsBoard Member
Shelby MccloudBoard Member
Sparkle BuntyonBoard Member
Susan ReichBoard Member
Wayne SpellBoard Member
James HuffmanSecretary
Alesia HiseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$788,618
Program Service Revenue
$69,207
Investment Income
$1,163
Other Revenue
$41,867
Change in Net Assets
$-17,153

Audited Revenue Reconciliation

Revenue per Audited Statements
$900,855
Total Revenue per Audited Statements
$900,855
Total Revenue per Form 990
$900,855
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$562,822
Salaries, Compensation, and Employee Benefits$355,186
Total Fundraising Expense$25,860
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$175,752$46,867$11,717$234,336
Fees for Services Other$173,633--$173,633
Other Salaries and Wages$76,039$20,277$5,069$101,385
Occupancy$32,626$8,700$2,175$43,501
Insurance$29,968$7,992$1,998$39,958
Depreciation Depletion$20,009$5,150$1,287$26,446
Office Expenses$17,893$4,772$1,193$23,858
Payroll Taxes$12,441$3,318$829$16,588
Advertising$12,993--$12,993
Travel$8,552$2,280$570$11,402
Fees for Services Accounting$6,084$1,623$406$8,113
Other Expenses$7,325$386$396$7,711
All Other Expenses$5,703$303$76$6,082
Pension Plan Contributions$2,158$575$144$2,877
Total Functional Expenses$788,321$103,827$25,860$918,008

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$918,008
Total Expenses per Audited Statements$918,008
Total Expenses per Form 990$918,008
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$37,100
Fundraising Direct Expenses$24,816
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$37,100$37,100$24,816$12,284
Total Events$37,100$37,100$24,816$12,284
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
Yes
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, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 15A

“Each year a proposed budget based on current income and expenses, including salaries and wages, must be submitted and approved by the board.”

Form 990, Page 6, Part VI, Line 19

“Audited financials and form 990 available upon request at our office and o nline at www2.guidestar.org”

Filing and Contact Details

Filer

Filer Name
Desoto County Economic Development
EIN
64-0616656
Phone
6624294414
Address
316 W COMMERCE ST, HERNANDO, MS 38632

Signing Officer

Name
James Flanagan
Title
Executive Direc
Phone
6624294414
Signed
2016-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Flanagan
Formed
1978
Legal Domicile
Ms
Voting Board Members
30
Independent Board Members
30
Employees
3

Preparer

Firm
Williams Pitts & Beard Pllc
Address
2042 MCINGVALE RD STE A, HERNANDO, MS 38632-8706
Preparer
Kristopher a Whitten
Phone
6624294436
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Desoto county economic development council's primary exempt purpose is to develop, coordinate and recruit new and expanded industry,business and trade in desoto county. The council also was a part of an education- industry partnershp that created a new career tech center in olive branch to promote job creation and training programs to meet the growing needs of the county.”

Form 990, Page 2, Part III, Line 4D

“The council continued new industry recruitment and expansion in desoto”

Form 990, Part IX, Line 11G

“Consulting 169,133 0 0 various fundraising other fees 4,500 0 0”

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IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt22BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt23BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt24BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt25BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt26BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt27BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt28BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt29BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt30BOARD MEMBER
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IRS990/FormationYr01978
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IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0true
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IRS990/FundraisingGrossIncomeAmt037100
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IRS990/GrantsToOrganizationsInd0false
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IRS990/GrossRentsGrp/RealAmt04766
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IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InsuranceGrp/ManagementAndGeneralAmt07992
IRS990/InsuranceGrp/ProgramServicesAmt029968
IRS990/InsuranceGrp/TotalAmt039958
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt01163
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01163
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt04
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IRS990/LegalDomicileStateCd0MS
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembershipDuesAmt0164038
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0DESOTO COUNTY ECONOMIC DEVELOPMENT COUNCIL'S PRIMARY EXEMPT PURPOSE IS TO DEVELOP, COORDINATE AND RECRUIT NEW AND EXPANDED INDUSTRY,BUSINESS AND TRADE IN DESOTO COUNTY. THE COUNCIL ALSO WAS A PART OF AN EDUCATION- INDUSTRY PARTNERSHP THAT CREATED A NEW CAREER TECH CENTER IN OLIVE BRANCH TO PROMOTE JOB CREATION AND TRAINING PROGRAMS TO MEET THE GROWING NEEDS OF THE COUNTY.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt01055218
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt04766
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IRS990/OccupancyGrp/ManagementAndGeneralAmt08700
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IRS990/OccupancyGrp/TotalAmt043501
IRS990/OfficeExpensesGrp/FundraisingAmt01193
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04772
IRS990/OfficeExpensesGrp/ProgramServicesAmt017893
IRS990/OfficeExpensesGrp/TotalAmt023858
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc0GREENWAYS EXPENSE
IRS990/OtherExpensesGrp/Desc1PROGRAM SERVICE EXPENSES
IRS990/OtherExpensesGrp/Desc2DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc3POSTAGE AND SHIPPING
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IRS990/PrincipalOfficerNm0JAMES FLANAGAN
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IRS990/ProgramServiceRevenueGrp/Desc0VAR. WK/SHOPS & MEETING
IRS990/ProgramServiceRevenueGrp/Desc1VARIOUS FUNDRAISING
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt17034
IRS990/ProgSrvcAccomActy2Grp/Desc0DESOTO GREENWAYS PUBLIC PRIVATE PARTNERSHIP AND THE CREATION OF NEW RECREATIONAL DISTRICTS WHILE CONTINUING TO IMPLEMENT A COUNTY-WIDE PARKS AND GREENWAYS SYSTEM
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0127366
IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE COUNCIL CONTINUED NEW INDUSTRY RECRUITMENT AND EXPANSION IN DESOTO
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IRS990/PYInvestmentIncomeAmt01947
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IRS990/PYOtherRevenueAmt046675
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IRS990/PYSalariesCompEmpBnftPaidAmt0389227
IRS990/PYTotalExpensesAmt0743122
IRS990/PYTotalRevenueAmt0808680
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IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
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IRS990/RentalIncomeOrLossGrp/RealAmt04766
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,055,218
Liabilities
$0
Net assets
$1,055,218
Revenue
$900,855
Expenses
$918,008
Net income
-$17,153
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.83$0.02$0.81$1.09$0.98$0.11
2023Detailed filing. Detailed filing data is available for this year.$0.72$0.02$0.70$0.97$0.93$0.04
2022Detailed filing. Detailed filing data is available for this year.$0.67$0.01$0.66$0.88$1.02$0.14
2021Detailed filing. Detailed filing data is available for this year.$0.79$0.00$0.79$0.87$0.74$0.13
2020Detailed filing. Detailed filing data is available for this year.$0.90$0.00$0.90$1.01$0.68$0.33
2019Detailed filing. Detailed filing data is available for this year.$0.56$0.00$0.56$0.83$0.72$0.11
2018Detailed filing. Detailed filing data is available for this year.$0.46$0.00$0.46$0.71$0.77$0.06
2017Detailed filing. Detailed filing data is available for this year.$0.51$0.00$0.51$0.68$0.73$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.56$0.00$0.56$0.77$1.26$0.49
2015Detailed filing. Detailed filing data is available for this year.$1.06$0.00$1.06$0.90$0.92$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.07$0.00$1.07$0.81$0.74$0.07
2013Detailed filing. Detailed filing data is available for this year.$1.01$0.00$1.01$0.72$0.70$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$0.00$0.99$0.75
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.88$0.00$0.88$0.66
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.82$0.00$0.82$0.64