Civic Intelligence

Greater Biloxi Economic Development Foundation Inc.

990 • Fiscal year 2016 • EIN 64-0663887

Oct 01, 2015 to Sep 30, 2016 • Filed on Aug 07, 2017

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

93rd percentile

0.86x

Higher debt load relative to assets than 93% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

96th percentile

1.41x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

11th percentile

-33%

Higher net margin than 11% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

97th percentile

$80,653

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 69.5% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

23rd percentile

-17%

Faster asset growth than 23% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

35th percentile

-9.2%

Faster revenue growth than 35% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$191,041

Down $38,956 (-17%) from 2015

Net Assets

Down

$27,689

Down $38,241 (-58%) from 2015

Liabilities

Down

$163,352

Down $715 (-0.4%) from 2015

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin11th percentile

Revenue

Down

$116,109

Down $11,701 (-9.2%) from 2015

Expenses

Up

$154,350

Up $2,853 (+1.9%) from 2015

Net Income

Down

-$38,241

Down $14,554 (-61%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth23rd 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

2016

Assets$191,041
Liabilities$163,352
Net Assets$27,689
Open 2016 Filing

Operations Trend

Revenue Growth35th 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

2016

Revenue$116,109
Expenses$154,350
Net Income-$38,241
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to Sep 30, 2016
Signed
Aug 7, 2017
Return Version
2015v3.0
Gross Receipts
$116,109
Mission and Program Overview

Mission

Operation of business incubator

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$123,453$121,953▼ $1,500
Savings and Temporary Cash Investments$85,085$42,690▼ $42,395
Cash and Non-Interest-Bearing Accounts$18,479$21,995▲ $3,516
Prepaid Expenses and Deferred Charges$2,980$2,980→ $0
Accounts Receivable-$1,423-
Total Assets$229,997$191,041▼ $38,956
Liabilities
Other Liabilities$80,851$82,680▲ $1,829
Mortgage Notes Payable Secured by Investment Property$75,000$75,000→ $0
Accounts Payable and Accrued Expenses$8,216$5,672▼ $2,544
Total Liabilities$164,067$163,352▼ $715
Net Assets / Fund Balance
Unrestricted Net Assets$65,930$27,689▼ $38,241
Total Net Assets Fund Balance$65,930$27,689▼ $38,241
Total Liabilities and Net Assets / Fund Balance$229,997$191,041▼ $38,956

Asset Categories

AssetBook ValueDepreciationBasis
Land$119,578-$119,578
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleBaseTotal
Stephen W WhittExecutive Di$80,653$80,653

Board Members and Trustees

NameTitle
Michael PornovetsPresident
Asher TravisBoard Member
Bill BriscoeBoard Member
Bobby FontentotBoard Member
Charlie DellengerBoard Member
Dax AlexanderBoard Member
Dick WilsonBoard Member
Eric BrownBoard Member
Eric CollumBoard Member
Guy JohnsonBoard Member
Henry DickBoard Member
Jerry CreelBoard Member
John JoachimBoard Member
Karen ArguellesBoard Member
Kay Miller CarterBoard Member
Rich WestfallBoard Member
Steven B DickBoard Member
Tom CollinsBoard Member
Bud JonesPast Preside
Misty RussellSecretary/tr
Vickie RiversVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$92,484
Investment Income
$699
Other Revenue
$22,926
Change in Net Assets
$-38,241

Audited Revenue Reconciliation

Revenue per Audited Statements
$116,109
Total Revenue per Audited Statements
$116,109
Total Revenue per Form 990
$116,109
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$142,423
Other Expenses$11,927
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$64,522$16,131-$80,653
Other Salaries and Wages$27,263$6,816-$34,079
Other Employee Benefits$12,394$3,099-$15,493
Payroll Taxes$7,005$1,751-$8,756
Fees for Services Accounting-$3,601-$3,601
Pension Plan Contributions$2,754$688-$3,442
Interest-$1,828-$1,828
Depreciation Depletion-$1,500-$1,500
Insurance$1,376--$1,376
Other Expenses$1,000--$1,000
Conferences and Meetings$913--$913
Office Expenses-$258-$258
Fees for Services Legal$230--$230
Total Functional Expenses$118,678$35,672$0$154,350

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$154,350
Total Expenses per Audited Statements$154,350
Total Expenses per Form 990$154,350
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$82,680
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
2017-08-07
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/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt022926
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt022926
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0258
IRS990/OfficeExpensesGrp/TotalAmt0258
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt03099
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt012394
IRS990/OtherEmployeeBenefitsGrp/TotalAmt015493
IRS990/OtherExpensesGrp/Desc0TELEPHONE
IRS990/OtherExpensesGrp/Desc1DUES
IRS990/OtherExpensesGrp/ProgramServicesAmt01221
IRS990/OtherExpensesGrp/ProgramServicesAmt11000
IRS990/OtherExpensesGrp/TotalAmt01221
IRS990/OtherExpensesGrp/TotalAmt11000
IRS990/OtherLiabilitiesGrp/BOYAmt080851
IRS990/OtherLiabilitiesGrp/EOYAmt082680
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt06816
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt027263
IRS990/OtherSalariesAndWagesGrp/TotalAmt034079
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01751
IRS990/PayrollTaxesGrp/ProgramServicesAmt07005
IRS990/PayrollTaxesGrp/TotalAmt08756
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0688
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02754
IRS990/PensionPlanContributionsGrp/TotalAmt03442
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/RelatedOrExemptFuncIncomeAmt111550
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2934
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt080000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt111550
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2934
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt015000
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt042
IRS990/PYOtherExpensesAmt012532
IRS990/PYOtherRevenueAmt024902
IRS990/PYProgramServiceRevenueAmt087866
IRS990/PYRevenuesLessExpensesAmt0-23687
IRS990/PYSalariesCompEmpBnftPaidAmt0138965
IRS990/PYTotalExpensesAmt0151497
IRS990/PYTotalRevenueAmt0127810
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-38241
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt022926
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt092484
IRS990/SavingsAndTempCashInvstGrp/BOYAmt085085
IRS990/SavingsAndTempCashInvstGrp/EOYAmt042690
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt091550
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0101500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0106010
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0112750
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0120550
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0532360
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt023625
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt024944
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt025037
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt024184
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt024746
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0122536
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt08401
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.81290
IRS990ScheduleA/PublicSupportPY170Pct00.83820
IRS990ScheduleA/PublicSupportTotal170Amt0532360
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt091550
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0101500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0106010
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0112750
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0120550
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0532360
IRS990ScheduleA/TotalSupportAmt0654896
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0154350
IRS990ScheduleD/LandGrp/BookValueAmt0119578
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0119578
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt082680
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt0116109
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0119578
IRS990ScheduleD/TotalExpensesPerForm990Amt0154350
IRS990ScheduleD/TotalLiabilityAmt082680
IRS990ScheduleD/TotalRevenuePerForm990Amt0116109
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0116109
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0154350
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
IRS990/TotalAssetsBOYAmt0229997
IRS990/TotalAssetsEOYAmt0191041
IRS990/TotalAssetsGrp/BOYAmt0229997
IRS990/TotalAssetsGrp/EOYAmt0191041
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt035672
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0118678
IRS990/TotalFunctionalExpensesGrp/TotalAmt0154350
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0164067
IRS990/TotalLiabilitiesEOYAmt0163352
IRS990/TotalLiabilitiesGrp/BOYAmt0164067
IRS990/TotalLiabilitiesGrp/EOYAmt0163352
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt065930
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt027689
IRS990/TotalProgramServiceExpensesAmt0118678
IRS990/TotalProgramServiceRevenueAmt092484

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$191,041
Liabilities
$163,352
Net assets
$27,689
Revenue
$116,109
Expenses
$154,350
Net income
-$38,241
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