Civic Intelligence

Arkansas Ecomonic Acceleration Foundation

990 • Fiscal year 2018 • EIN 71-0819945

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

Organization ProfileN/A
200 River Market Avenue Suite 400Little Rock, AR 72201

(501) 374-9247

Siviq Scores

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

Liabilities / Assets

90th percentile

0.54x

Higher debt load relative to assets than 90% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

87th percentile

0.20x

Higher debt load relative to revenue than 87% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

36th percentile

-1.9%

Higher net margin than 36% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

99th percentile

$188,620

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 61.0% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

26th percentile

-13%

Faster asset growth than 26% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

7th percentile

-61%

Faster revenue growth than 7% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$111,951

Down $16,159 (-13%) from 2017

Net Assets

Down

$51,357

Down $5,969 (-10%) from 2017

Liabilities

Down

$60,594

Down $10,190 (-14%) from 2017

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin36th percentile

Revenue

Down

$309,235

Down $486,059 (-61%) from 2017

Expenses

Down

$315,204

Down $429,043 (-58%) from 2017

Net Income

Down

-$5,969

Down $57,016 (-112%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $1,002,832Liabilities 2010: $99,343Net Assets 2010: $903,4892010Assets 2011: $337,292Liabilities 2011: $13,750Net Assets 2011: $323,5422011Assets 2012: $3,589,585Liabilities 2012: $3,324,226Net Assets 2012: $265,3592012Assets 2013: $2,965,021Liabilities 2013: $2,826,413Net Assets 2013: $138,6082013Assets 2014: $2,234,416Liabilities 2014: $2,105,424Net Assets 2014: $128,9922014Assets 2015: $1,274,316Liabilities 2015: $1,227,319Net Assets 2015: $46,9972015Assets 2016: $700,017Liabilities 2016: $693,738Net Assets 2016: $6,2792016Assets 2017: $128,110Liabilities 2017: $70,784Net Assets 2017: $57,3262017Assets 2018: $111,951Liabilities 2018: $60,594Net Assets 2018: $51,3572018Assets 2019: $16,292Liabilities 2019: $0Net Assets 2019: $16,2922019Assets 2020: $126,208Liabilities 2020: $106Net Assets 2020: $126,1022020Assets 2021: $146,630Liabilities 2021: $1,841Net Assets 2021: $144,7892021Assets 2022: $51,131Liabilities 2022: $59,016Net Assets 2022: -$7,8852022Assets 2023: $65,710Liabilities 2023: $5,046Net Assets 2023: $60,6642023Assets 2024: $94,070Liabilities 2024: $638Net Assets 2024: $93,4322024

Highlighted filing

2018

Assets$111,951
Liabilities$60,594
Net Assets$51,357
Open 2018 Filing

Operations Trend

Revenue Growth7th percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2010: $1,294,904Expenses 2010: $1,194,542Net Income 2010: $100,3622010Revenue 2011: $426,839Expenses 2011: $1,006,786Net Income 2011: -$579,9472011Revenue 2012: $973,442Expenses 2012: $1,031,625Net Income 2012: -$58,1832012Revenue 2013: $761,079Expenses 2013: $887,830Net Income 2013: -$126,7512013Revenue 2014: $921,655Expenses 2014: $931,271Net Income 2014: -$9,6162014Revenue 2015: $981,078Expenses 2015: $1,063,073Net Income 2015: -$81,9952015Revenue 2016: $1,001,246Expenses 2016: $1,041,964Net Income 2016: -$40,7182016Revenue 2017: $795,294Expenses 2017: $744,247Net Income 2017: $51,0472017Revenue 2018: $309,235Expenses 2018: $315,204Net Income 2018: -$5,9692018Revenue 2019: $264,858Expenses 2019: $299,923Net Income 2019: -$35,0652019Revenue 2020: $389,541Expenses 2020: $279,731Net Income 2020: $109,8102020Revenue 2021: $296,157Expenses 2021: $277,470Net Income 2021: $18,6872021Revenue 2022: $218,576Expenses 2022: $371,250Net Income 2022: -$152,6742022Revenue 2023: $489,412Expenses 2023: $420,863Net Income 2023: $68,5492023Revenue 2024: $594,968Expenses 2024: $562,200Net Income 2024: $32,7682024

Highlighted filing

2018

Revenue$309,235
Expenses$315,204
Net Income-$5,969
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$309,235
Mission and Program Overview

Mission

The organization attempts to support and expand entrepreneurship in arkansas through educational activities, such as business plan competitions, with the goal of fostering business development and creating jobs.

To assist in the economic development of arkansas primarily through intermediate and long-term loans for expansion of arkansas enterprises and to engage in other economic development activities through affiliated companies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$57,235$50,357▼ $6,878
Prepaid Expenses and Deferred Charges-$1,000-
Land, Buildings, and Equipment, Net$91--
Total Assets$128,110$111,951▼ $16,159
Other Assets Total$70,784$60,594▼ $10,190
Liabilities
Escrow Account Liability$70,784$60,594▼ $10,190
Total Liabilities$70,784$60,594▼ $10,190
Net Assets / Fund Balance
Temporarily Rstr Net Assets$43,487$46,457▲ $2,970
Unrestricted Net Assets$13,839$4,900▼ $8,939
Total Net Assets Fund Balance$57,326$51,357▼ $5,969
Total Liabilities and Net Assets / Fund Balance$128,110$111,951▼ $16,159

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$60,594--
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleOtherTotal
Leslie LaneVice Preside$154,494$154,494
Marie BrunoSecretary$96,894$96,894

Board Members and Trustees

NameTitle
Sam Walls IiiPresident
Leslie LaneVice President
Kathleen LawsonDirector
Rebecca ToddDirector
Steve RiceDirector
Rush DeaconTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$308,829
Program Service Revenue
$0
Investment Income
$406
Other Revenue
$0
All Other Contributions
$293,829
Change in Net Assets
$-5,969

Audited Revenue Reconciliation

Revenue per Audited Statements
$309,235
Total Revenue per Audited Statements
$309,235
Total Revenue per Form 990
$309,235
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$171,775
Other Expenses$143,429
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$169,775--$169,775
Conferences and Meetings$99,816--$99,816
Travel$15,684$205-$15,889
Advertising$11,365$109-$11,474
Information Technology$4,102$3,274-$7,376
Fees for Services Accounting-$7,219-$7,219
Grants to Domestic Orgs$2,000--$2,000
Office Expenses-$226-$226
Other Expenses-$223-$223
Fees for Services Other$219--$219
Depreciation Depletion-$91-$91
All Other Expenses-$1-$1
Total Functional Expenses$302,961$12,243$0$315,204

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$315,204
Total Expenses per Audited Statements$315,204
Total Expenses per Form 990$315,204
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“This form is reviewed by one of the officers of the company and the company's cpa prior to filing.”

Form 990, Page 6, Part VI, Line 19

“Form 990 is available to the general public upon request or via the attorney general's website.”

Filing and Contact Details

Filer

Filer Name
Arkansas Economic Acceleration Fdn
EIN
71-0819945
Phone
5013749247
Address
200 RIVER MARKET AVENUE SUITE 400, LITTLE ROCK, AR 72201

Signing Officer

Name
Sam Walls Iii
Title
President
Phone
5013749247
Signed
2019-11-14

Organization Details

Principal Officer
Sam Walls Iii
Formed
1999
Legal Domicile
Ar
Voting Board Members
7
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Hudson Cisne & Co Llp
Address
11025 ANDERSON DR STE 300, LITTLE ROCK, AR 72212-2472
Preparer
Brent Sharpmack
Phone
5012211000
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To assist in the economic development of arkansas primarily through intermediate and long-term loans for expansion of arkansas enterprises and to engage in other economic development activities through affiliated companies.”

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

“Annual governor's award for entrepreneurial development in arkansas whereby college students present business plans for hypothetical businesses; plans are judged by a panel of experts and dollar awards are presented to winners at the annual awards luncheon supported by the business community of each state.”

Schedule D, Page 3, Part X

“The foundation recognizes accrued interest and penalties, if any, associated with uncertain tax positions as part of their income tax provisions. The past three years of returns are subject to potential examination by taxing authorities.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ANNUAL GOVERNOR'S AWARD FOR ENTREPRENEURIAL DEVELOPMENT IN ARKANSAS WHEREBY COLLEGE STUDENTS PRESENT BUSINESS PLANS FOR HYPOTHETICAL BUSINESSES; PLANS ARE JUDGED BY A PANEL OF EXPERTS AND DOLLAR AWARDS ARE PRESENTED TO WINNERS AT THE ANNUAL AWARDS LUNCHEON SUPPORTED BY THE BUSINESS COMMUNITY OF EACH STATE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION RECOGNIZES ACCRUED INTEREST AND PENALTIES, IF ANY, ASSOCIATED WITH UNCERTAIN TAX POSITIONS AS PART OF THEIR INCOME TAX PROVISIONS. THE PAST THREE YEARS OF RETURNS ARE SUBJECT TO POTENTIAL EXAMINATION BY TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0GOVERNORS CUP CASH PRIZES
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1YES FOR ARKANSAS CASH PRI
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0RUSH DEACON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1SAM WALLS III
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2LESLIE LANE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2VICE PRESIDENT
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE OFFICERS OF ARKANSAS ECONOMIC ACCELERATION FOUDNATION ARE PAID BY ARKANSAS CAPITAL CORPORATION (ACC). COMPENSATION FOR EXECUTIVES AND KEY EMPLOYEES IS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS' COMPENSATION COMMITTEE. TO DETERMINE COMPENSATION, THE COMPENSATION COMMITTEE UTILIZES OUTSIDE ASSISTANCE FROM THE JOHNSON GROUP, AN INDEPENDENT, PROFESSIONAL COMPANY THAT SPECIALIZES IN COMPENSATION SURVEYS AND RECOMMENDATIONS FOR AMERICAN COMPANIES. THE COMPENSATION ACTUALLY PAID TO OFFICERS AND KEY EMPLOYEES IS WITHIN GUIDELINES RECOMMENDED BY THE OUTSIDE CONSULTANT.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PAGE 1, PART I, LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ASSIST IN THE ECONOMIC DEVELOPMENT OF ARKANSAS PRIMARILY THROUGH INTERMEDIATE AND LONG-TERM LOANS FOR EXPANSION OF ARKANSAS ENTERPRISES AND TO ENGAGE IN OTHER ECONOMIC DEVELOPMENT ACTIVITIES THROUGH AFFILIATED COMPANIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THIS FORM IS REVIEWED BY ONE OF THE OFFICERS OF THE COMPANY AND THE COMPANY'S CPA PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST OR VIA THE ATTORNEY GENERAL'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$111,951
Liabilities
$60,594
Net assets
$51,357
Revenue
$309,235
Expenses
$315,204
Net income
-$5,969
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.09$0.00$0.09$0.59$0.56$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.07$0.01$0.06$0.49$0.42$0.07
2022Detailed filing. Detailed filing data is available for this year.$0.05$0.06$0.01$0.22$0.37$0.15
2021Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.14$0.30$0.28$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.13$0.00$0.13$0.39$0.28$0.11
2019Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.26$0.30$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.11$0.06$0.05$0.31$0.32$0.01
2017Summary only. Only limited summary data is available for this year.$0.13$0.07$0.06$0.80$0.74$0.05
2016Summary only. Only limited summary data is available for this year.$0.70$0.69$0.01$1.00$1.04$0.04
2015Summary only. Only limited summary data is available for this year.$1.27$1.23$0.05$0.98$1.06$0.08
2014Summary only. Only limited summary data is available for this year.$2.23$2.11$0.13$0.92$0.93$0.01
2013Summary only. Only limited summary data is available for this year.$2.97$2.83$0.14$0.76$0.89$0.13
2012Summary only. Only limited summary data is available for this year.$3.59$3.32$0.27$0.97$1.03$0.06
2011Summary only. Only limited summary data is available for this year.$0.34$0.01$0.32$0.43$1.01$0.58
2010Summary only. Only limited summary data is available for this year.$1.00$0.10$0.90$1.29$1.19$0.10