Civic Intelligence

Desoto County Economic Development Council Inc

990 • Fiscal year 2016 • EIN 64-0616656

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 15, 2017

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

20th percentile

0.00x

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

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

20th percentile

0.00x

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

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Net Margin

1st percentile

-64%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

97th percentile

$226,079

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 29.4% of source-year revenue.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Asset Growth

2nd percentile

-47%

Faster asset growth than 2% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

11th percentile

-15%

Faster revenue growth than 11% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets20th percentile

Assets

Down

$560,538

Down $494,680 (-47%) from 2015

Net Assets

Down

$560,538

Down $494,680 (-47%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses
Liabilities / Revenue20th percentileNet Margin1st percentile

Revenue

Down

$768,826

Down $132,029 (-15%) from 2015

Expenses

Up

$1,263,506

Up $345,498 (+38%) from 2015

Net Income

Down

-$494,680

Down $477,527 (-2784%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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

2016

Assets$560,538
Liabilities$0
Net Assets$560,538
Open 2016 Filing

Operations Trend

Revenue Growth11th 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

2016

Revenue$768,826
Expenses$1,263,506
Net Income-$494,680
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 15, 2017
Return Version
2016v3.0
Gross Receipts
$952,641
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$693,753$230,368▼ $463,385
Cash and Non-Interest-Bearing Accounts$122$178,328▲ $178,206
Land, Buildings, and Equipment, Net$249,970$27,987▼ $221,983
Total Assets$1,055,218$560,538▼ $494,680
Other Assets Total$111,373$123,855▲ $12,482
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$486,405$551,929▲ $65,524
Temporarily Rstr Net Assets$568,813$8,609▼ $560,204
Total Net Assets Fund Balance$1,055,218$560,538▼ $494,680
Total Liabilities and Net Assets / Fund Balance$1,055,218$560,538▼ $494,680

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$123,855--
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James FlanaganExecutive DiFT$214,595$11,484$226,079
James FlanaganExecutive Direc-$214,595$11,484$226,079

Board Members and Trustees

NameTitle
Shawn ClaytonChairman
George ReadyPast Chairma
Alesia HiseVice Chairma
Adam KraftBoard Member
Alan ParksBoard Member
Barry BouchillonBoard Member
Billy MyersBoard Member
Brian WalhoodBoard Member
Chris BrownBoard Member
Chuck TomlinsonBoard Member
Doug FreezeBoard Member
J R SaylorBoard Member
Jaime SteenBoard Member
Karla WisinskiBoard Member
Kevin DoddridgeBoard Member
Kyle MccoyBoard Member
Lee SmartBoard Member
Michael LeonardBoard Member
Peter FelsenthalBoard Member
Rick GregoryBoard Member
Rick WeedenBoard Member
Rob RamageBoard Member
Shad SimsBoard Member
Shane HughesBoard Member
Sparkle BuntyonBoard Member
Susan ReichBoard Member
Tripp FolkBoard Member
Wayne SpellBoard Member
David FoellSecretary
James HuffmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$629,693
Program Service Revenue
$92,782
Investment Income
$2,556
Other Revenue
$43,795
Change in Net Assets
$-494,680

Audited Revenue Reconciliation

Revenue per Audited Statements
$768,826
Total Revenue per Audited Statements
$768,826
Total Revenue per Form 990
$768,826
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$870,467
Salaries, Compensation, and Employee Benefits$393,039
Total Fundraising Expense$28,273
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$169,559$45,216$11,304$226,079
Other Salaries and Wages$103,687$27,650$6,913$138,250
Fees for Services Other$53,686--$53,686
Occupancy$40,194$10,718$2,680$53,592
Insurance$37,201$9,920$2,480$49,601
Office Expenses$17,904$4,775$1,194$23,873
Payroll Taxes$16,809$4,483$1,121$22,413
Depreciation Depletion$16,964$2,060$515$19,539
Fees for Services Accounting$7,937$2,117$529$10,583
Other Expenses$6,820$1,819$455$9,094
All Other Expenses$7,663$657$80$8,400
Conferences and Meetings$5,968$1,592$398$7,958
Pension Plan Contributions$4,723$1,259$315$6,297
Advertising$6,037--$6,037
Travel$4,340$1,157$289$5,786
Total Functional Expenses$1,121,810$113,423$28,273$1,263,506

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,263,506
Total Expenses per Audited Statements$1,263,506
Total Expenses per Form 990$1,263,506
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$44,125
Fundraising Direct Expenses$24,796
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$44,125$44,125$24,796$19,329
Total Events$44,125$44,125$24,796$19,329
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
2017-08-15
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
4

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”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6PAST CHAIRMA
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
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IRS990/FundraisingGrossIncomeAmt044125
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IRS990/GoverningBodyVotingMembersCnt030
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IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
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IRS990/GrossReceiptsAmt0952641
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IRS990/IncludeFIN48FootnoteInd0false
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IRS990/IndependentVotingMemberCnt030
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/FundraisingAmt02480
IRS990/InsuranceGrp/ManagementAndGeneralAmt09920
IRS990/InsuranceGrp/ProgramServicesAmt037201
IRS990/InsuranceGrp/TotalAmt049601
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt02556
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02556
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt011
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IRS990/LandBldgEquipAccumDeprecAmt069812
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0249970
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IRS990/LandBldgEquipCostOrOtherBssAmt097799
IRS990/LegalDomicileStateCd0MS
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0159019
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembershipDuesAmt0174746
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.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/OccupancyGrp/ManagementAndGeneralAmt010718
IRS990/OccupancyGrp/ProgramServicesAmt040194
IRS990/OccupancyGrp/TotalAmt053592
IRS990/OfficeExpensesGrp/FundraisingAmt01194
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04775
IRS990/OfficeExpensesGrp/ProgramServicesAmt017904
IRS990/OfficeExpensesGrp/TotalAmt023873
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt0123855
IRS990/OtherExpensesGrp/Desc0GREENWAYS EXPENSE
IRS990/OtherExpensesGrp/Desc1PROGRAM SERVICE EXPENSES
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc3DUES & SUBSCRIPTIONS
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IRS990/OtherExpensesGrp/ProgramServicesAmt0560715
IRS990/OtherExpensesGrp/ProgramServicesAmt140767
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IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt06913
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt027650
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0103687
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0JAMES FLANAGAN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0VAR. WK/SHOPS & MEETING
IRS990/ProgramServiceRevenueGrp/Desc1VARIOUS FUNDRAISING
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt19980
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt082802
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt19980
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/ExpenseAmt0572996
IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE COUNCIL CONTINUED NEW INDUSTRY RECRUITMENT AND EXPANSION IN DESOTO
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0788618
IRS990/PYInvestmentIncomeAmt01163
IRS990/PYOtherExpensesAmt0562822
IRS990/PYOtherRevenueAmt041867
IRS990/PYProgramServiceRevenueAmt069207
IRS990/PYRevenuesLessExpensesAmt0-17153
IRS990/PYSalariesCompEmpBnftPaidAmt0355186
IRS990/PYTotalExpensesAmt0918008
IRS990/PYTotalRevenueAmt0900855
IRS990/ReconcilationRevenueExpnssAmt0-494680
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/ReportInvestmentsOtherSecInd0false

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$560,538
Liabilities
$0
Net assets
$560,538
Revenue
$768,826
Expenses
$1,263,506
Net income
-$494,680
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