Civic Intelligence

Desoto County Economic Development Council Inc

990 • Fiscal year 2020 • EIN 64-0616656

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 13, 2021

Organization ProfileWWW.DESOTOCOUNTY.COM

View Organization Page

4716 Pepper Chase DrSouthaven, MS 38671

(662) 429-4414

Siviq Scores

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

Liabilities / Assets

10th percentile

0.00x

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

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

10th percentile

0.00x

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

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Net Margin

91st percentile

33%

Higher net margin than 91% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Asset Growth

94th percentile

59%

Faster asset growth than 94% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

92nd percentile

22%

Faster revenue growth than 92% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$897,293

Up $333,493 (+59%) from 2019

Net Assets

Up

$897,293

Up $333,493 (+59%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue10th percentileNet Margin91st percentile

Revenue

Up

$1,013,523

Up $182,211 (+22%) from 2019

Expenses

Down

$680,030

Down $44,374 (-6.1%) from 2019

Net Income

Up

$333,493

Up $226,585 (+212%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth94th 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

2020

Assets$897,293
Liabilities$0
Net Assets$897,293
Open 2020 Filing

Operations Trend

Revenue Growth92nd 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

2020

Revenue$1,013,523
Expenses$680,030
Net Income$333,493
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 13, 2021
Return Version
2020v4.0
Gross Receipts
$1,033,807
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
Cash and Non-Interest-Bearing Accounts$149,296$477,048▲ $327,752
Savings and Temporary Cash Investments$211,054$211,054→ $0
Land, Buildings, and Equipment, Net$39,238$30,024▼ $9,214
Total Assets$563,800$897,293▲ $333,493
Other Assets Total$164,212$179,167▲ $14,955
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$529,419$897,293▲ $367,874
Net Assets With Donor Restrictions$34,381--
Total Net Assets Fund Balance$563,800$897,293▲ $333,493
Total Liabilities and Net Assets / Fund Balance$563,800$897,293▲ $333,493

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$30,024$80,071$110,095
Equipment-$3,283$3,283
Other Assets Org$179,167--
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Chris BrownChairman
James HuffmanPast Chairma
Shad SimsPast Chairma
Susan ReichVice Chairma
Bryant CashionBoard Member
Chad RobertsonBoard Member
Craig ScalingBoard Member
Dan CordellBoard Member
David AdamsBoard Member
Dr Brittany KasprackBoard Member
Dr Michael HeindlBoard Member
Harry WelchBoard Member
Jennifer WardBoard Member
John RayBoard Member
Kevin DoddridgeBoard Member
Lance PeacockBoard Member
Lisa JohnsonBoard Member
Melissa MireBoard Member
Patrick GinnBoard Member
Rhodes ThompsonBoard Member
Rob LasterBoard Member
Robert HillBoard Member
Shawn ClaytonBoard Member
Toby FinchBoard Member
Vickie BlackwellBoard Member
Vince MalavasiBoard Member
Wayne SpellBoard Member
Zack DavisBoard Member
Diego LejwaSecretary
Ritchie HamptonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$846,748
Program Service Revenue
$31,948
Investment Income
$148
Other Revenue
$134,679
All Other Contributions
$230,885
Change in Net Assets
$333,493

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,013,523
Total Revenue per Audited Statements
$1,013,523
Total Revenue per Form 990
$1,013,523
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$493,572
Other Expenses$186,458
Total Fundraising Expense$30,845
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$217,017$57,871$14,467$289,355
Other Salaries and Wages$129,631$34,568$8,642$172,841
Occupancy$32,156$8,575$2,144$42,875
Insurance$19,247$5,132$1,283$25,662
Office Expenses$19,196$5,119$1,280$25,595
Payroll Taxes$17,123$4,566$1,142$22,831
Advertising$18,729--$18,729
Depreciation Depletion$7,829$2,088$521$10,438
Pension Plan Contributions$6,409$1,709$427$8,545
Fees for Services Lobbying$5,174--$5,174
Travel$3,819$1,018$255$5,092
Fees for Services Other-$4,013-$4,013
Fees for Services Accounting$900$240$60$1,200
Other Expenses$849$227$57$1,133
All Other Expenses$1,047$55-$1,102
Conferences and Meetings$437$117$29$583
Total Functional Expenses$521,736$127,449$30,845$680,030

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$680,030
Total Expenses per Audited Statements$680,030
Total Expenses per Form 990$680,030
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$25,974
Fundraising Direct Expenses$20,284
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$25,534$25,534$19,553$5,981
Total Events$25,534$25,534$19,553$5,981
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
Audit committee
Yes
Backup withholding compliance
No
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
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 online at www2.guidestar.org”

Filing and Contact Details

Filer

Filer Name
Desoto County Economic Development
EIN
64-0616656
Phone
6624294414
Address
4716 PEPPER CHASE DR, SOUTHAVEN, MS 38671

Signing Officer

Name
James B Flanagan
Title
Executive Director
Phone
6624294414
Signed
2021-10-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James B Flanagan
Formed
1978
Legal Domicile
Ms
Voting Board Members
30
Independent Board Members
30
Employees
5

Preparer

Firm
Williams Pitts & Beard Pllc
Address
2042 MCINGVALE RD STE A, HERNANDO, MS 38632-8706
Preparer
Roxie F Norris
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/TitleTxt23BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt24BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt25BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt26BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt27BOARD MEMBER
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$897,293
Liabilities
$0
Net assets
$897,293
Revenue
$1,013,523
Expenses
$680,030
Net income
$333,493
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)6 • $1M-$5M nonprofits