Civic Intelligence

Greater Biloxi Economic Development Foundation Inc.

990 • Fiscal year 2015 • EIN 64-0663887

Oct 01, 2014 to Sep 30, 2015 • Filed on May 12, 2016

Organization ProfileWWW.INNOVATEMS.COM
1636 Popps Ferry RoadBiloxi, MS 39532

(228) 392-9744

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.71x

Higher debt load relative to assets than 92% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

1.28x

Higher debt load relative to revenue than 96% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

16th percentile

-19%

Higher net margin than 16% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

97th percentile

$78,100

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 61.1% of source-year revenue.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

31st percentile

-8.0%

Faster asset growth than 31% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

40th percentile

-4.9%

Faster revenue growth than 40% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$229,997

Down $20,018 (-8.0%) from 2014

Net Assets

Down

$65,930

Down $23,687 (-26%) from 2014

Liabilities

Up

$164,067

Up $3,669 (+2.3%) from 2014

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin16th percentile

Revenue

Down

$127,810

Down $6,612 (-4.9%) from 2014

Expenses

Down

$151,497

Down $12,145 (-7.4%) from 2014

Net Income

Up

-$23,687

Up $5,533 (+19%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth31st percentile

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

$400K$300K$200K$100K$0Assets 2011: $282,255Liabilities 2011: $158,477Net Assets 2011: $123,7782011Assets 2012: $247,267Liabilities 2012: $158,724Net Assets 2012: $88,5432012Assets 2013: $273,975Liabilities 2013: $155,138Net Assets 2013: $118,8372013Assets 2014: $250,015Liabilities 2014: $160,398Net Assets 2014: $89,6172014Assets 2015: $229,997Liabilities 2015: $164,067Net Assets 2015: $65,9302015Assets 2016: $191,041Liabilities 2016: $163,352Net Assets 2016: $27,6892016Assets 2017: $193,914Liabilities 2017: $165,280Net Assets 2017: $28,6342017Assets 2018: $352,338Liabilities 2018: $168,497Net Assets 2018: $183,8412018Assets 2019: $288,377Liabilities 2019: $171,992Net Assets 2019: $116,3852019Assets 2020: $254,336Liabilities 2020: $168,496Net Assets 2020: $85,8402020Assets 2021: $258,722Liabilities 2021: $171,301Net Assets 2021: $87,4212021Assets 2022: $257,783Liabilities 2022: $171,906Net Assets 2022: $85,8772022

Highlighted filing

2015

Assets$229,997
Liabilities$164,067
Net Assets$65,930
Open 2015 Filing

Operations Trend

Revenue Growth40th percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2011: $147,875Expenses 2011: $138,438Net Income 2011: $9,4372011Revenue 2012: $114,165Expenses 2012: $149,400Net Income 2012: -$35,2352012Revenue 2013: $138,381Expenses 2013: $147,599Net Income 2013: -$9,2182013Revenue 2014: $134,422Expenses 2014: $163,642Net Income 2014: -$29,2202014Revenue 2015: $127,810Expenses 2015: $151,497Net Income 2015: -$23,6872015Revenue 2016: $116,109Expenses 2016: $154,350Net Income 2016: -$38,2412016Revenue 2017: $153,363Expenses 2017: $152,418Net Income 2017: $9452017Revenue 2018: $306,990Expenses 2018: $151,783Net Income 2018: $155,2072018Revenue 2019: $92,687Expenses 2019: $160,143Net Income 2019: -$67,4562019Revenue 2020: $34,989Expenses 2020: $65,534Net Income 2020: -$30,5452020Revenue 2021: $6,771Expenses 2021: $5,190Net Income 2021: $1,5812021Revenue 2022: $17,919Expenses 2022: $19,463Net Income 2022: -$1,5442022

Highlighted filing

2015

Revenue$127,810
Expenses$151,497
Net Income-$23,687
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
May 12, 2016
Return Version
2014v6.0
Gross Receipts
$127,810
Mission and Program Overview

Mission

Operation of business incubator

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$124,953$123,453▼ $1,500
Savings and Temporary Cash Investments$85,043$85,085▲ $42
Cash and Non-Interest-Bearing Accounts$37,039$18,479▼ $18,560
Prepaid Expenses and Deferred Charges$2,980$2,980→ $0
Total Assets$250,015$229,997▼ $20,018
Liabilities
Other Liabilities$79,164$80,851▲ $1,687
Mortgage Notes Payable Secured by Investment Property$75,000$75,000→ $0
Accounts Payable and Accrued Expenses$6,234$8,216▲ $1,982
Total Liabilities$160,398$164,067▲ $3,669
Net Assets / Fund Balance
Unrestricted Net Assets$89,617$65,930▼ $23,687
Total Net Assets Fund Balance$89,617$65,930▼ $23,687
Total Liabilities and Net Assets / Fund Balance$250,015$229,997▼ $20,018

Asset Categories

AssetBook ValueDepreciationBasis
Land$119,578-$119,578
Equipment$3,875$4,025$7,900
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleBaseTotal
Stephen W WhittExecutive Di$78,100$78,100

Board Members and Trustees

NameTitle
Bud JonesPresident
Asher TravisBoard Member
Bobby FontenotBoard Member
Charlie DellengerBoard Member
Dax Alexander PeBoard Member
Dick WilsonBoard Member
Eric BrownBoard Member
Eric KravetteBoard Member
Guy JohnsonBoard Member
Henry DickBoard Member
Jerry CreelBoard Member
John JoachimBoard Member
Karen ArguellesBoard Member
Kay Miller CarterBoard Member
Loretta BridgesBoard Member
Rich WestfallBoard Member
Roy Mattina JrBoard Member
Steven DickBoard Member
Tom CollinsBoard Member
Vickie RiversBoard Member
Michael PoronovetsVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$15,000
Program Service Revenue
$87,866
Investment Income
$42
Other Revenue
$24,902
All Other Contributions
$15,000
Change in Net Assets
$-23,687

Audited Revenue Reconciliation

Revenue per Audited Statements
$127,810
Total Revenue per Audited Statements
$127,810
Total Revenue per Form 990
$127,810
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$138,965
Other Expenses$12,532
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$62,480$15,620-$78,100
Other Salaries and Wages$26,400$6,600-$33,000
Other Employee Benefits$12,638$3,160-$15,798
Payroll Taxes$6,911$1,727-$8,638
Fees for Services Accounting-$3,462-$3,462
Pension Plan Contributions$2,743$686-$3,429
Interest-$1,688-$1,688
Conferences and Meetings$1,686--$1,686
Depreciation Depletion-$1,500-$1,500
Insurance$1,351--$1,351
Other Expenses$1,043--$1,043
Fees for Services Legal$467--$467
Office Expenses-$110-$110
Total Functional Expenses$116,944$34,553$0$151,497

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$151,497
Total Expenses per Audited Statements$151,497
Total Expenses per Form 990$151,497
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest Payable$80,851
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“Form 990 is reviewed by the executive director and finance director prior to filing.”

Form 990, Page 6, Part VI, Line 19

“Available for inspection upon request”

Filing and Contact Details

Filer

Filer Name
Greater Biloxi Economic Development
EIN
64-0663887
Phone
2283929744
Address
1636 POPPS FERRY ROAD, BILOXI, MS 39532
Doing Business As
The Innovation Center

Signing Officer

Name
Stephen W Whitt
Title
Executive Director
Phone
2283929744
Signed
2016-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen W Whitt
Formed
1981
Legal Domicile
Ms
Voting Board Members
21
Independent Board Members
21
Employees
2

Preparer

Firm
Fletcher & Company Pllc
Address
10598 DIBERVILLE BLVD STE G, DIBERVILLE, MS 39540-2465
Preparer
Dean a Fletcher
Phone
2285946559
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0110
IRS990/OfficeExpensesGrp/TotalAmt0110
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt03160
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt012638
IRS990/OtherEmployeeBenefitsGrp/TotalAmt015798
IRS990/OtherExpensesGrp/Desc0DUES
IRS990/OtherExpensesGrp/Desc1TELEPHONE
IRS990/OtherExpensesGrp/ProgramServicesAmt01225
IRS990/OtherExpensesGrp/ProgramServicesAmt11043
IRS990/OtherExpensesGrp/TotalAmt01225
IRS990/OtherExpensesGrp/TotalAmt11043
IRS990/OtherLiabilitiesGrp/BOYAmt079164
IRS990/OtherLiabilitiesGrp/EOYAmt080851
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt06600
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt026400
IRS990/OtherSalariesAndWagesGrp/TotalAmt033000
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01727
IRS990/PayrollTaxesGrp/ProgramServicesAmt06911
IRS990/PayrollTaxesGrp/TotalAmt08638
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0686
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02743
IRS990/PensionPlanContributionsGrp/TotalAmt03429
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02980
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02980
IRS990/PrincipalOfficerNm0STEPHEN W WHITT
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/Desc1MEMBERSHIP DUES
IRS990/ProgramServiceRevenueGrp/Desc2SEMINAR REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt080000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt16500
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21366
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt080000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt16500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21366
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0107
IRS990/PYOtherExpensesAmt021520
IRS990/PYOtherRevenueAmt024930
IRS990/PYProgramServiceRevenueAmt0109385
IRS990/PYRevenuesLessExpensesAmt0-29220
IRS990/PYSalariesCompEmpBnftPaidAmt0142122
IRS990/PYTotalExpensesAmt0163642
IRS990/PYTotalRevenueAmt0134422
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-23687
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt024902
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt085043
IRS990/SavingsAndTempCashInvstGrp/EOYAmt085085
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt021500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt010010
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt07500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt089419
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0124200
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0252629
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt042
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0107
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0212
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt024746
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt023675
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt048782
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0112768
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.83820
IRS990ScheduleA/PublicSupportPY170Pct00.83280
IRS990ScheduleA/PublicSupportTotal170Amt0252629
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt021500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt010010
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt07500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt089419
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0124200
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0252629
IRS990ScheduleA/TotalSupportAmt0301411
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt03875
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04025
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt07900
IRS990ScheduleD/ExpensesSubtotalAmt0151497
IRS990ScheduleD/LandGrp/BookValueAmt0119578
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0119578
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt080851
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt0127810
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0123453
IRS990ScheduleD/TotalExpensesPerForm990Amt0151497
IRS990ScheduleD/TotalLiabilityAmt080851
IRS990ScheduleD/TotalRevenuePerForm990Amt0127810
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0127810
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0151497
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND FINANCE DIRECTOR PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AVAILABLE FOR INSPECTION UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MS
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0229997
IRS990/TotalAssetsGrp/BOYAmt0250015
IRS990/TotalAssetsGrp/EOYAmt0229997
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt015000
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt034553
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0116944
IRS990/TotalFunctionalExpensesGrp/TotalAmt0151497
IRS990/TotalGrossUBIAmt00

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$229,997
Liabilities
$164,067
Net assets
$65,930
Revenue
$127,810
Expenses
$151,497
Net income
-$23,687
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$2.58$1.72$0.86$0.18$0.19$0.02
2021Detailed filing. Detailed filing data is available for this year.$2.59$1.71$0.87$0.07$0.05$0.02
2020Detailed filing. Detailed filing data is available for this year.$2.54$1.68$0.86$0.35$0.66$0.31
2019Detailed filing. Detailed filing data is available for this year.$2.88$1.72$1.16$0.93$1.60$0.67
2018Detailed filing. Detailed filing data is available for this year.$3.52$1.68$1.84$3.07$1.52$1.55
2017Detailed filing. Detailed filing data is available for this year.$1.94$1.65$0.29$1.53$1.52$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.91$1.63$0.28$1.16$1.54$0.38
2015Detailed filing. Detailed filing data is available for this year.$2.30$1.64$0.66$1.28$1.51$0.24
2014Detailed filing. Detailed filing data is available for this year.$2.50$1.60$0.90$1.34$1.64$0.29
2013Summary only. Only limited summary data is available for this year.$2.74$1.55$1.19$1.38$1.48$0.09
2012Summary only. Only limited summary data is available for this year.$2.47$1.59$0.89$1.14$1.49$0.35
2011Summary only. Only limited summary data is available for this year.$2.82$1.58$1.24$1.48$1.38$0.09