Civic Intelligence

Desoto County Economic Development Council Inc

990 • Fiscal year 2017 • EIN 64-0616656

Jan 01, 2017 to Dec 31, 2017 • Filed on Jul 09, 2018

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

21st percentile

0.00x

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

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

21st percentile

0.00x

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

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Net Margin

17th percentile

-7.0%

Higher net margin than 17% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

97th percentile

$241,242

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 35.3% of source-year revenue.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Asset Growth

18th percentile

-8.5%

Faster asset growth than 18% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

14th percentile

-11%

Faster revenue growth than 14% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets21st percentile

Assets

Down

$512,870

Down $47,668 (-8.5%) from 2016

Net Assets

Down

$512,870

Down $47,668 (-8.5%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin17th percentile

Revenue

Down

$684,243

Down $84,583 (-11%) from 2016

Expenses

Down

$731,911

Down $531,595 (-42%) from 2016

Net Income

Up

-$47,668

Up $447,012 (+90%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth18th 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

2017

Assets$512,870
Liabilities$0
Net Assets$512,870
Open 2017 Filing

Operations Trend

Revenue Growth14th 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

2017

Revenue$684,243
Expenses$731,911
Net Income-$47,668
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jul 9, 2018
Return Version
2017v2.3
Gross Receipts
$718,760
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$230,368$208,007▼ $22,361
Cash and Non-Interest-Bearing Accounts$178,328$147,404▼ $30,924
Land, Buildings, and Equipment, Net$27,987$20,850▼ $7,137
Total Assets$560,538$512,870▼ $47,668
Other Assets Total$123,855$136,609▲ $12,754
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$551,929$494,663▼ $57,266
Temporarily Rstr Net Assets$8,609$18,207▲ $9,598
Total Net Assets Fund Balance$560,538$512,870▼ $47,668
Total Liabilities and Net Assets / Fund Balance$560,538$512,870▼ $47,668

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$136,609--
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James FlanaganExecutive DiFT$221,750$19,492$241,242
James FlanaganExecutive Direc-$221,750$19,492$241,242

Board Members and Trustees

NameTitle
Alesia HiseChairman
George ReadyPast Chairma
Shawn ClaytonPast Chairma
James HuffmanVice Chairma
Alan ParksBoard Member
Allen WhitsettBoard Member
Ammie McaseyBoard Member
Barry BouchillonBoard Member
Brian WalhoodBoard Member
Chris BrownBoard Member
Holly ShiveBoard Member
J R SaylorBoard Member
Jaime SteenBoard Member
John RawlskyBoard Member
Kevin DoddridgeBoard Member
Kyle MccoyBoard Member
Lee SmartBoard Member
Michael LeonardBoard Member
Peter FelsenthalBoard Member
Renita CarrBoard Member
Rick WeedenBoard Member
Rob RamageBoard Member
Sarah EdmistonBoard Member
Shad SimsBoard Member
Shane HughesBoard Member
Susan ReichBoard Member
Tracy HuffmanBoard Member
Tripp FolkBoard Member
Wayne SpellBoard Member
Chuck TomlinsonSecretary
David FoellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$572,808
Program Service Revenue
$63,385
Investment Income
$557
Other Revenue
$47,493
Change in Net Assets
$-47,668

Audited Revenue Reconciliation

Revenue per Audited Statements
$684,243
Total Revenue per Audited Statements
$684,243
Total Revenue per Form 990
$684,243
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$431,603
Other Expenses$300,308
Total Fundraising Expense$29,030
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$166,313$44,350$11,088$221,751
Other Salaries and Wages$125,184$33,383$8,346$166,913
Insurance$34,670$9,245$2,311$46,226
Occupancy$33,604$8,961$2,240$44,805
Payroll Taxes$17,939$4,784$1,196$23,919
Pension Plan Contributions$14,265$3,804$951$19,020
Office Expenses$13,857$3,695$924$18,476
Fees for Services Other$13,503--$13,503
Other Expenses$9,063$2,417$604$12,084
Advertising$10,315--$10,315
Fees for Services Accounting$7,455$1,988$497$9,940
Travel$6,960$1,856$464$9,280
Depreciation Depletion$6,973$131$33$7,137
All Other Expenses$5,540$476$77$6,093
Conferences and Meetings$4,485$1,196$299$5,980
Total Functional Expenses$586,595$116,286$29,030$731,911

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$731,911
Total Expenses per Audited Statements$731,911
Total Expenses per Form 990$731,911
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$37,502
Fundraising Direct Expenses$34,517
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$37,502$37,502$34,517$2,985
Total Events$37,502$37,502$34,517$2,985
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
2018-07-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alesia Hise
Formed
1978
Legal Domicile
Ms
Voting Board Members
32
Independent Board Members
32
Employees
5

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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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt1PAST CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
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/TitleTxt16SECRETARY
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
IRS990/Form990PartVIISectionAGrp/TitleTxt31BOARD MEMBER
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IRS990/FormationYr01978
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IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0true
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IRS990/FundraisingGrossIncomeAmt037502
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt032
IRS990/GovernmentGrantsAmt0397952
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0718760
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt032
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/FundraisingAmt02311
IRS990/InsuranceGrp/ManagementAndGeneralAmt09245
IRS990/InsuranceGrp/ProgramServicesAmt034670
IRS990/InsuranceGrp/TotalAmt046226
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0557
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0557
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt03
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt076949
IRS990/LandBldgEquipBasisNetGrp/BOYAmt027987
IRS990/LandBldgEquipBasisNetGrp/EOYAmt020850
IRS990/LandBldgEquipCostOrOtherBssAmt097799
IRS990/LegalDomicileStateCd0MS
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembershipDuesAmt0174856
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/NondeductibleContributionsInd0false
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IRS990/OccupancyGrp/ManagementAndGeneralAmt08961
IRS990/OccupancyGrp/ProgramServicesAmt033604
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IRS990/OfficeExpensesGrp/FundraisingAmt0924
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03695
IRS990/OfficeExpensesGrp/ProgramServicesAmt013857
IRS990/OfficeExpensesGrp/TotalAmt018476
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt0136609
IRS990/OtherExpensesGrp/Desc0PROGRAM SERVICE EXPENSES
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc2GREENWAYS EXPENSE
IRS990/OtherExpensesGrp/Desc3DUES & SUBSCRIPTIONS
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IRS990/OtherExpensesGrp/ProgramServicesAmt225670
IRS990/OtherExpensesGrp/ProgramServicesAmt39063
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt08346
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt033383
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0125184
IRS990/OtherSalariesAndWagesGrp/TotalAmt0166913
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04784
IRS990/PayrollTaxesGrp/ProgramServicesAmt017939
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IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt03804
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IRS990/PensionPlanContributionsGrp/TotalAmt019020
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ALESIA HISE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0VAR. WK/SHOPS & MEETING
IRS990/ProgramServiceRevenueGrp/Desc1VARIOUS FUNDRAISING
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt115908
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt047477
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt115908
IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE COUNCIL CONTINUED NEW INDUSTRY RECRUITMENT AND EXPANSION IN DESOTO
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0629693
IRS990/PYInvestmentIncomeAmt02556
IRS990/PYOtherExpensesAmt0870467
IRS990/PYOtherRevenueAmt043795
IRS990/PYProgramServiceRevenueAmt092782
IRS990/PYRevenuesLessExpensesAmt0-494680
IRS990/PYSalariesCompEmpBnftPaidAmt0393039
IRS990/PYTotalExpensesAmt01263506
IRS990/PYTotalRevenueAmt0768826
IRS990/ReconcilationRevenueExpnssAmt0-47668
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$512,870
Liabilities
$0
Net assets
$512,870
Revenue
$684,243
Expenses
$731,911
Net income
-$47,668
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