Civic Intelligence

Arkansas Ecomonic Acceleration Foundation

990 • Fiscal year 2020 • EIN 71-0819945

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 09, 2021

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

56th percentile

0.00x

Higher debt load relative to assets than 56% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.00x

Higher debt load relative to revenue than 55% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

77th percentile

28%

Higher net margin than 77% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

100th percentile

$325,911

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 83.7% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

97th percentile

675%

Faster asset growth than 97% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

87th percentile

47%

Faster revenue growth than 87% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$126,208

Up $109,916 (+675%) from 2019

Net Assets

Up

$126,102

Up $109,810 (+674%) from 2019

Liabilities

Up

$106

Up $106 from 2019

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin77th percentile

Revenue

Up

$389,541

Up $124,683 (+47%) from 2019

Expenses

Down

$279,731

Down $20,192 (-6.7%) from 2019

Net Income

Up

$109,810

Up $144,875 (+413%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth97th 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

2020

Assets$126,208
Liabilities$106
Net Assets$126,102
Open 2020 Filing

Operations Trend

Revenue Growth87th 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

2020

Revenue$389,541
Expenses$279,731
Net Income$109,810
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 9, 2021
Return Version
2020v4.0
Gross Receipts
$389,541
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$14,517$117,352▲ $102,835
Accounts Receivable-$7,106-
Prepaid Expenses and Deferred Charges$1,775$1,750▼ $25
Total Assets$16,292$126,208▲ $109,916
Liabilities
Accounts Payable and Accrued Expenses-$106-
Total Liabilities$0$106▲ $106
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,122$115,617▲ $104,495
Net Assets With Donor Restrictions$5,170$10,485▲ $5,315
Total Net Assets Fund Balance$16,292$126,102▲ $109,810
Total Liabilities and Net Assets / Fund Balance$16,292$126,208▲ $109,916
Compensation and Service Providers
Top Officer Pay100th percentile

Employees

NameTitleOtherTotal
Leslie LaneVice Preside$295,052$295,052
Marie BrunoSecretary$108,064$108,064

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
$376,960
Program Service Revenue
$0
Investment Income
$160
Other Revenue
$12,421
All Other Contributions
$376,960
Change in Net Assets
$109,810

Audited Revenue Reconciliation

Revenue per Audited Statements
$389,541
Total Revenue per Audited Statements
$389,541
Total Revenue per Form 990
$389,541
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$244,250
Other Expenses$35,481
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$243,750--$243,750
Conferences and Meetings$10,701$50-$10,751
Fees for Services Accounting-$8,570-$8,570
Information Technology$3,120$2,990-$6,110
Advertising$5,280--$5,280
Fees for Services Legal$2,263--$2,263
Office Expenses$209$446-$655
Travel$473$38-$511
Grants to Domestic Orgs$500--$500
Other Expenses-$171-$171
Fees for Services Other$15--$15
Total Functional Expenses$266,311$13,420$0$279,731

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$279,731
Total Expenses per Audited Statements$279,731
Total Expenses per Form 990$279,731
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
2021-09-09
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
3

Preparer

Firm
Hcj Cpas & Advisors Pllc
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 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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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 EXAMINATION BY TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0GOVERNORS CUP CASH PRIZES
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1YES FOR ARKANSAS PRIZES
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2HEARTLAND CHALLENGE
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SAM WALLS III
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2RUSH DEACON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
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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, 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 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/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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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0710312420
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C6
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LENDING
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0200 RIVER MARKET AVE SUITE 400
IRS990/USAddress/CityNm0LITTLE ROCK
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IRS990/USAddress/ZIPCd072201

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$126,208
Liabilities
$106
Net assets
$126,102
Revenue
$389,541
Expenses
$279,731
Net income
$109,810
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