Civic Intelligence

Arkansas Ecomonic Acceleration Foundation

990 • Fiscal year 2019 • EIN 71-0819945

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 10, 2020

Organization ProfileARCAPITAL.COM/ENTREPRENEURSHIP
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

57th percentile

0.00x

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.00x

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

21st percentile

-13%

Higher net margin than 21% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

99th percentile

$242,445

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 91.5% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

4th percentile

-85%

Faster asset growth than 4% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

29th percentile

-14%

Faster revenue growth than 29% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets57th percentile

Assets

Down

$16,292

Down $95,659 (-85%) from 2018

Net Assets

Down

$16,292

Down $35,065 (-68%) from 2018

Liabilities

Down

$0

Down $60,594 (-100%) from 2018

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin21st percentile

Revenue

Down

$264,858

Down $44,377 (-14%) from 2018

Expenses

Down

$299,923

Down $15,281 (-4.8%) from 2018

Net Income

Down

-$35,065

Down $29,096 (-487%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth4th 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

2019

Assets$16,292
Liabilities$0
Net Assets$16,292
Open 2019 Filing

Operations Trend

Revenue Growth29th 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

2019

Revenue$264,858
Expenses$299,923
Net Income-$35,065
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 10, 2020
Return Version
2019v5.0
Gross Receipts
$264,858
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$50,357$14,517▼ $35,840
Prepaid Expenses and Deferred Charges$1,000$1,775▲ $775
Other Assets Total$60,594--
Total Assets$111,951$16,292▼ $95,659
Liabilities
Escrow Account Liability$60,594--
Total Liabilities$60,594$0▼ $60,594
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,900$11,122▲ $6,222
Net Assets With Donor Restrictions$46,457$5,170▼ $41,287
Total Net Assets Fund Balance$51,357$16,292▼ $35,065
Total Liabilities and Net Assets / Fund Balance$111,951$16,292▼ $95,659
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleOtherTotal
Leslie LaneVice Preside$231,964$231,964
Marie BrunoSecretary$98,125$98,125

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
$264,550
Program Service Revenue
$0
Investment Income
$308
Other Revenue
$0
All Other Contributions
$260,550
Change in Net Assets
$-35,065

Audited Revenue Reconciliation

Revenue per Audited Statements
$260,858
Revenue Not Reported on Financial Statements
$4,000
Other Revenue Adjustments
$4,000
Total Revenue per Audited Statements
$260,858
Total Revenue per Form 990
$264,858
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$164,000
Other Expenses$135,923
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$162,250--$162,250
Conferences and Meetings$88,206--$88,206
Advertising$16,759$1,118-$17,877
Travel$13,205$93-$13,298
Fees for Services Accounting-$8,525-$8,525
Information Technology$4,028$2,536-$6,564
Grants to Domestic Orgs$1,750--$1,750
Office Expenses$172$131-$303
Other Expenses-$85-$85
Fees for Services Other$65--$65
Total Functional Expenses$286,435$13,488$0$299,923

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$299,923
Expenses per Audited Statements$295,923
Total Expenses per Audited Statements$295,923
Expenses Not Reported on Financial Statements$4,000
Other Expense Adjustments$4,000
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 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
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.”

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
2020-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sam Walls Iii
Formed
1999
Legal Domicile
Ar
Voting Board Members
7
Independent Board Members
3
Employees
0
Volunteers
45

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.”

Form 990, Part XI, Line 9

“Acc grant for conference travel -4,000 acc grant for conference travel 4,000”

Financial Statement Notes

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 examiniation by taxing authorities.”

Schedule D, Page 4, Part XI, Line 4B

“Acc grant for conference travel 4,000”

Schedule D, Page 4, Part XII, Line 4B

“Acc grant for conference travel 4,000”

Raw XML AppendixShowing 400 of 441 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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 EXAMINIATION BY TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ACC GRANT FOR CONFERENCE TRAVEL 4,000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2ACC GRANT FOR CONFERENCE TRAVEL 4,000
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt24000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0GOVERNORS CUP CASH PRIZES
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1YES FOR ARKANSAS CASH PRI
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2OFN CONFERENCE
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2170160
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt011940
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt122554
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt221304
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0RUSH DEACON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1SAM WALLS III
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2LESLIE LANE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2VICE PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0242445
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1240720
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt2231964
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE OFFICERS OF ARKANSAS ECONOMIC ACCELERATION FOUNDATION 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, AND INDEPENDENT, PROFESSIONAL COMPANY THAT SPECIALIZES IN COMPENSATION SURVEYS AND RECOMMENDATIONS FOR AMERICAN COMPANIES. THE COMPENSATION ACTUALLY PAID TO OFFICERS AND KEY EMPLOYEES IS WITHIN THE GUIDELINES RECOMMENDED BY THE OUTSIDE CONSULTANT.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PAGE 1, PART I, LINE 3
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IRS990/ScheduleORequiredInd0true
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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ACC GRANT FOR CONFERENCE TRAVEL -4,000 ACC GRANT FOR CONFERENCE TRAVEL 4,000
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ARKANSAS CAPITAL CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0710312420
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C6
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0AR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LENDING
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0LITTLE ROCK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0AR
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IRS990ScheduleR/PaidEmployeesSharingInd0true
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IRS990ScheduleR/SharingOfFacilitiesInd0false
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0ARKANSAS CAPITAL CORPORATION
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0299923
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt051357
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt016292
IRS990/TotalOtherCompensationAmt063013
IRS990/TotalProgramServiceExpensesAmt0286435
IRS990/TotalRevenueGrp/ExclusionAmt0308
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0264858
IRS990/TotalVolunteersCnt045
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt016292
IRS990/TotReportableCompRltdOrgAmt0750241
IRS990/TravelGrp/ManagementAndGeneralAmt093
IRS990/TravelGrp/ProgramServicesAmt013205
IRS990/TravelGrp/TotalAmt013298
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/USAddress/AddressLine1Txt0200 RIVER MARKET AVE SUITE 400
IRS990/USAddress/CityNm0LITTLE ROCK

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,292
Liabilities
$0
Net assets
$16,292
Revenue
$264,858
Expenses
$299,923
Net income
-$35,065
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