Civic Intelligence

Desoto County Economic Development Council Inc

990 • Fiscal year 2018 • EIN 64-0616656

Jan 01, 2018 to Dec 31, 2018 • Filed on Aug 10, 2019

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.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

21st percentile

0.00x

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

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Net Margin

16th percentile

-7.9%

Higher net margin than 16% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

42nd percentile

$0

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Asset Growth

17th percentile

-11%

Faster asset growth than 17% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

53rd percentile

3.8%

Faster revenue growth than 53% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets21st percentile

Assets

Down

$456,892

Down $55,978 (-11%) from 2017

Net Assets

Down

$456,892

Down $55,978 (-11%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin16th percentile

Revenue

Up

$710,249

Up $26,006 (+3.8%) from 2017

Expenses

Up

$766,227

Up $34,316 (+4.7%) from 2017

Net Income

Down

-$55,978

Down $8,310 (-17%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth17th 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

2018

Assets$456,892
Liabilities$0
Net Assets$456,892
Open 2018 Filing

Operations Trend

Revenue Growth53rd 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

2018

Revenue$710,249
Expenses$766,227
Net Income-$55,978
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Aug 10, 2019
Return Version
2018v3.1
Gross Receipts
$736,422
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$208,007$208,642▲ $635
Cash and Non-Interest-Bearing Accounts$147,404$91,089▼ $56,315
Land, Buildings, and Equipment, Net$20,850$13,712▼ $7,138
Total Assets$512,870$456,892▼ $55,978
Other Assets Total$136,609$143,449▲ $6,840
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$494,663$435,618▼ $59,045
Temporarily Rstr Net Assets$18,207$21,274▲ $3,067
Total Net Assets Fund Balance$512,870$456,892▼ $55,978
Total Liabilities and Net Assets / Fund Balance$512,870$456,892▼ $55,978

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$143,449--
Compensation and Service Providers
Top Officer Pay42nd percentile

Board Members and Trustees

NameTitle
James HuffmanChairman
Alesia HisePast Chairma
Shad SimsVice Chairma
Alan ParksBoard Member
Allen WhitsettBoard Member
Dan CordellBoard Member
Diego LejwaBoard Member
George ReadyBoard Member
J R SaylorBoard Member
Jack TalbertBoard Member
Jaime SteenBoard Member
John RawlskyBoard Member
Kevin DoddridgeBoard Member
Kyle MccoyBoard Member
Lisa JohnsonBoard Member
Patrick GinnBoard Member
Renita CarrBoard Member
Rhodes ThompsonBoard Member
Ritchie HamptonBoard Member
Sarah EdmistonBoard Member
Shane HughesBoard Member
Shawn ClaytonBoard Member
Tracy HuffmanBoard Member
Tripp FolkBoard Member
Vickie BlackwellBoard Member
Wayne SpellBoard Member
Zack DavisBoard Member
James FlanaganExecutive Di
Chris BrownSecretary
Susan ReichTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$626,414
Program Service Revenue
$96,173
Investment Income
$849
Other Revenue
$-13,187
Change in Net Assets
$-55,978

Audited Revenue Reconciliation

Revenue per Audited Statements
$710,249
Total Revenue per Audited Statements
$710,249
Total Revenue per Form 990
$710,249
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$458,787
Other Expenses$307,440
Total Fundraising Expense$31,580
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$301,747$80,466$20,116$402,329
Fees for Services Other$113,618--$113,618
Office Expenses$34,908$9,309$2,327$46,544
Insurance$34,757$9,269$2,317$46,343
Occupancy$34,671$9,245$2,311$46,227
Payroll Taxes$27,543$7,345$1,836$36,724
Pension Plan Contributions$14,800$3,947$987$19,734
Travel$9,388$2,504$626$12,518
Fees for Services Accounting$8,762$2,337$584$11,683
Advertising$10,979--$10,979
Conferences and Meetings$6,642$1,771$443$8,856
Depreciation Depletion$6,974$131$33$7,138
Fees for Services Legal$3,534--$3,534
Total Functional Expenses$608,323$126,324$31,580$766,227

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$766,227
Total Expenses per Audited Statements$766,227
Total Expenses per Form 990$766,227
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$26,173
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$40,150-$26,173-
Total Events$40,150-$26,173$-26,173
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
2019-08-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alesia Hise
Formed
1978
Legal Domicile
Ms
Voting Board Members
29
Independent Board Members
29
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”

Form 990, Part IX, Line 11G

“Program expenses 51,925 0 0 donations 50 0 0 dues & subscriptioins 17,357 0 0 various fundraising other fees 44,286 0 0 total 113,618 0 0”

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IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20SECRETARY
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
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IRS990/FundraisingDirectExpensesAmt026173
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IRS990/InfoInScheduleOPartIXInd0X
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IRS990/LocalChaptersInd0false
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IRS990/MembershipDuesAmt0197708
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/OfficeExpensesGrp/TotalAmt046544
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07345
IRS990/PayrollTaxesGrp/ProgramServicesAmt027543
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IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt03947
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IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
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IRS990ScheduleD/TotalRevenuePerForm990Amt0710249
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IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt040150
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt040150
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt026173
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF TOURNAMENT

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$456,892
Liabilities
$0
Net assets
$456,892
Revenue
$710,249
Expenses
$766,227
Net income
-$55,978
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