Civic Intelligence

Crossett Economic Development Foundation

990 • Fiscal year 2017 • EIN 71-0855990

Jan 01, 2017 to Dec 31, 2017 • Filed on Jun 29, 2018

Organization ProfileWWW.CITYOFCROSSETT.NET
125 Main StreetCrossett, AR 71635

(870) 364-8745

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.05x

Higher debt load relative to assets than 42% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

51st percentile

0.10x

Higher debt load relative to revenue than 51% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

88th percentile

39%

Higher net margin than 88% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

75th percentile

$115,478

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 10.5% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

84th percentile

27%

Faster asset growth than 84% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

94th percentile

138%

Faster revenue growth than 94% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Up

$2,138,845

Up $448,250 (+27%) from 2016

Net Assets

Up

$2,027,351

Up $425,854 (+27%) from 2016

Liabilities

Up

$111,494

Up $22,396 (+25%) from 2016

Revenue And Expenses
Liabilities / Revenue51st percentileNet Margin88th percentile

Revenue

Up

$1,096,542

Up $636,503 (+138%) from 2016

Expenses

Up

$670,692

Up $222,736 (+50%) from 2016

Net Income

Up

$425,850

Up $413,767 (+3424%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,486,202Liabilities 2011: $95,498Net Assets 2011: $1,390,7042011Assets 2012: $1,590,927Liabilities 2012: $99,532Net Assets 2012: $1,491,3952012Assets 2013: $1,601,077Liabilities 2013: $61,315Net Assets 2013: $1,539,7622013Assets 2014: $1,625,414Liabilities 2014: $35,640Net Assets 2014: $1,589,7742014Assets 2015: $1,604,433Liabilities 2015: $15,018Net Assets 2015: $1,589,4152015Assets 2016: $1,690,595Liabilities 2016: $89,098Net Assets 2016: $1,601,4972016Assets 2017: $2,138,845Liabilities 2017: $111,494Net Assets 2017: $2,027,3512017Assets 2018: $2,036,525Liabilities 2018: $116,974Net Assets 2018: $1,919,5512018Assets 2019: $1,776,603Liabilities 2019: $26,467Net Assets 2019: $1,750,1362019Assets 2020: $2,202,442Liabilities 2020: $409,261Net Assets 2020: $1,793,1812020Assets 2021: $2,309,779Liabilities 2021: $465,988Net Assets 2021: $1,843,7912021Assets 2022: $2,370,204Liabilities 2022: $458,704Net Assets 2022: $1,911,5002022Assets 2023: $2,111,006Liabilities 2023: $164,037Net Assets 2023: $1,946,9692023Assets 2024: $1,975,439Liabilities 2024: $10,548Net Assets 2024: $1,964,8912024

Highlighted filing

2017

Assets$2,138,845
Liabilities$111,494
Net Assets$2,027,351
Open 2017 Filing

Operations Trend

Revenue Growth94th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $490,201Expenses 2011: $472,861Net Income 2011: $17,3402011Revenue 2012: $478,148Expenses 2012: $377,457Net Income 2012: $100,6912012Revenue 2013: $506,407Expenses 2013: $458,041Net Income 2013: $48,3662013Revenue 2014: $496,018Expenses 2014: $446,006Net Income 2014: $50,0122014Revenue 2015: $499,456Expenses 2015: $499,808Net Income 2015: -$3522015Revenue 2016: $460,039Expenses 2016: $447,956Net Income 2016: $12,0832016Revenue 2017: $1,096,542Expenses 2017: $670,692Net Income 2017: $425,8502017Revenue 2018: $689,180Expenses 2018: $796,979Net Income 2018: -$107,7992018Revenue 2019: $679,179Expenses 2019: $848,594Net Income 2019: -$169,4152019Revenue 2020: $529,954Expenses 2020: $486,909Net Income 2020: $43,0452020Revenue 2021: $673,074Expenses 2021: $622,464Net Income 2021: $50,6102021Revenue 2022: $605,801Expenses 2022: $538,095Net Income 2022: $67,7062022Revenue 2023: $973,402Expenses 2023: $937,933Net Income 2023: $35,4692023Revenue 2024: $669,941Expenses 2024: $652,016Net Income 2024: $17,9252024

Highlighted filing

2017

Revenue$1,096,542
Expenses$670,692
Net Income$425,850
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jun 29, 2018
Return Version
2017v2.3
Gross Receipts
$1,096,542
Mission and Program Overview

Mission

Provide economic development services to the city of crossett, arkansas, and to generally promote the economic development of the city of crossett and the surrounding area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,092,682$1,710,807▲ $618,125
Savings and Temporary Cash Investments$187,433$188,873▲ $1,440
Cash and Non-Interest-Bearing Accounts$306,441$119,491▼ $186,950
Accounts Receivable$102,152$114,903▲ $12,751
Pledges and Grants Receivable-$3,169-
Prepaid Expenses and Deferred Charges$1,887$1,602▼ $285
Total Assets$1,690,595$2,138,845▲ $448,250
Liabilities
Deferred Revenue$75,177$69,369▼ $5,808
Mortgage Notes Payable Secured by Investment Property-$25,018-
Accounts Payable and Accrued Expenses$13,921$17,107▲ $3,186
Total Liabilities$89,098$111,494▲ $22,396
Net Assets / Fund Balance
Unrestricted Net Assets$1,601,497$2,027,351▲ $425,854
Total Net Assets Fund Balance$1,601,497$2,027,351▲ $425,854
Total Liabilities and Net Assets / Fund Balance$1,690,595$2,138,845▲ $448,250

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$269,747$595,217$864,964
Land$743,998-$743,998
Other Land Buildings$614,015$78,539$692,554
Leasehold Improvements$83,047$34,020$117,067
Compensation and Service Providers
Top Officer Pay75th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James Michael SmithExecutive DiFT$112,969$2,509$115,478
Revenue and Support

Revenue Composition

Contributions and Grants
$480,000
Program Service Revenue
$368,829
Investment Income
$24,965
Other Revenue
$222,748
All Other Contributions
$480,000
Change in Net Assets
$425,850

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Real Estate Commercial1$480,000
Total Noncash Contributions1$480,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,096,542
Total Revenue per Audited Statements
$1,096,542
Total Revenue per Form 990
$1,096,542
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$499,326
Salaries, Compensation, and Employee Benefits$171,366
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$112,969$42,971-$155,940
Depreciation Depletion$4,966$96,966-$101,932
All Other Expenses$29,302$31,401-$60,703
Other Expenses$28,685$47,392-$28,685
Insurance$5,455$14,376-$19,831
Fees for Services Accounting-$15,005-$15,005
Payroll Taxes$8,641$3,320-$11,961
Advertising-$9,424-$9,424
Conferences and Meetings$8,938--$8,938
Occupancy-$4,838-$4,838
Pension Plan Contributions$2,509$956-$3,465
Office Expenses$1,735--$1,735
Travel$1,040--$1,040
Interest-$397-$397
Fees for Services Other$149--$149
Total Functional Expenses$403,646$267,046$0$670,692

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$670,692
Expenses per Audited Statements$670,688
Total Expenses per Audited Statements$670,688
Expenses Not Reported on Financial Statements$4
Other Expense Adjustments$4
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
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The form 990 is available to the board for their inspection prior to filing and this information is included in the minutes fo the may board meeting.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and the financial statements are all available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Crossett Economic Dev Foundation
EIN
71-0855990
Phone
8703648745
Address
125 MAIN STREET, CROSSETT, AR 71635

Signing Officer

Name
James Michael Smith
Title
Executive Director
Phone
8703648745
Signed
2018-06-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Michael Smith
Formed
2000
Legal Domicile
Ar
Voting Board Members
8
Independent Board Members
8
Employees
2

Preparer

Firm
Richard L Maxwell & Associates Pllc
Address
101 CHERRYWOOD LN, CROSSETT, AR 71635-3921
Preparer
Craig Kaminicki
Phone
8703648992
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Provided economic development services to the city of crossett, arkansas, and to generally promote the economic development of the city of crossett adn surrounding area.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 4”

Financial Statement Notes

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

“Book / tax depreciation difference 4”

Raw XML Appendix359 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/LeaseholdImprovementsGrp/BookValueAmt083047
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt034020
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0117067
IRS990ScheduleD/OtherExpensesNotIncludedAmt04
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0614015
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt078539
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0692554
IRS990ScheduleD/RevenueSubtotalAmt01096542
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BOOK / TAX DEPRECIATION DIFFERENCE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01710807
IRS990ScheduleD/TotalExpensesPerForm990Amt0670692
IRS990ScheduleD/TotalRevenuePerForm990Amt01096542
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01096542
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0670688
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/RealEstateCommercialGrp/ContributionCnt01
IRS990ScheduleM/RealEstateCommercialGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateCommercialGrp/NoncashContributionsRptF990Amt0480000
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROVIDED ECONOMIC DEVELOPMENT SERVICES TO THE CITY OF CROSSETT, ARKANSAS, AND TO GENERALLY PROMOTE THE ECONOMIC DEVELOPMENT OF THE CITY OF CROSSETT ADN SURROUNDING AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS AVAILABLE TO THE BOARD FOR THEIR INSPECTION PRIOR TO FILING AND THIS INFORMATION IS INCLUDED IN THE MINUTES FO THE MAY BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND THE FINANCIAL STATEMENTS ARE ALL AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOOK / TAX DEPRECIATION DIFFERENCE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01690595
IRS990/TotalAssetsEOYAmt02138845
IRS990/TotalAssetsGrp/BOYAmt01690595
IRS990/TotalAssetsGrp/EOYAmt02138845
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0480000
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0267046
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0403646
IRS990/TotalFunctionalExpensesGrp/TotalAmt0670692
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt089098
IRS990/TotalLiabilitiesEOYAmt0111494
IRS990/TotalLiabilitiesGrp/BOYAmt089098
IRS990/TotalLiabilitiesGrp/EOYAmt0111494
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01601497
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02027351
IRS990/TotalOtherCompensationAmt02509
IRS990/TotalOtherProgSrvcExpenseAmt0372871
IRS990/TotalProgramServiceExpensesAmt0403646
IRS990/TotalProgramServiceRevenueAmt0368829
IRS990/TotalReportableCompFromOrgAmt0112969
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0616542
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01096542
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01690595
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02138845
IRS990/TravelGrp/ProgramServicesAmt01040
IRS990/TravelGrp/TotalAmt01040
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01601497
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02027351
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0125 MAIN STREET
IRS990/USAddress/CityNm0CROSSETT
IRS990/USAddress/StateAbbreviationCd0AR
IRS990/USAddress/ZIPCd071635
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.CITYOFCROSSETT.NET
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES MICHAEL SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08703648745
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-06-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CROSSETT ECONOMIC DEV FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0CROS
ReturnHeader/Filer/EIN0710855990
ReturnHeader/Filer/PhoneNum08703648745
ReturnHeader/Filer/USAddress/AddressLine1Txt0125 MAIN STREET
ReturnHeader/Filer/USAddress/CityNm0CROSSETT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd071635
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0B3D1F4D39367A218273B9118F80619502D5D5A96
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId054C9C0A287517CC53C746F580057885D8CF2FBFE
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0162.39.161.33
ReturnHeader/FilingSecurityInformation/IPDt02018-08-16
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm015:05:46
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RICHARD L MAXWELL & ASSOCIATES PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0101 CHERRYWOOD LN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CROSSETT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0716353921
ReturnHeader/PreparerPersonGrp/PhoneNum08703648992
ReturnHeader/PreparerPersonGrp/PreparationDt02018-07-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CRAIG KAMINICKI
ReturnHeader/ReturnTs02018-08-16T15:05:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,138,845
Liabilities
$111,494
Net assets
$2,027,351
Revenue
$1,096,542
Expenses
$670,692
Net income
$425,850
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.98$0.01$1.96$0.67$0.65$0.02
2023Detailed filing. Detailed filing data is available for this year.$2.11$0.16$1.95$0.97$0.94$0.04
2022Detailed filing. Detailed filing data is available for this year.$2.37$0.46$1.91$0.61$0.54$0.07
2021Detailed filing. Detailed filing data is available for this year.$2.31$0.47$1.84$0.67$0.62$0.05
2020Detailed filing. Detailed filing data is available for this year.$2.20$0.41$1.79$0.53$0.49$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.78$0.03$1.75$0.68$0.85$0.17
2018Detailed filing. Detailed filing data is available for this year.$2.04$0.12$1.92$0.69$0.80$0.11
2017Detailed filing. Detailed filing data is available for this year.$2.14$0.11$2.03$1.10$0.67$0.43
2016Detailed filing. Detailed filing data is available for this year.$1.69$0.09$1.60$0.46$0.45$0.01
2015Summary only. Only limited summary data is available for this year.$1.60$0.02$1.59$0.50$0.50$0.00
2014Summary only. Only limited summary data is available for this year.$1.63$0.04$1.59$0.50$0.45$0.05
2013Summary only. Only limited summary data is available for this year.$1.60$0.06$1.54$0.51$0.46$0.05
2012Summary only. Only limited summary data is available for this year.$1.59$0.10$1.49$0.48$0.38$0.10
2011Summary only. Only limited summary data is available for this year.$1.49$0.10$1.39$0.49$0.47$0.02