Civic Intelligence

Arkansas Rural Endowment Fund Inc.

990 • Fiscal year 2018 • EIN 71-6051240

Jul 01, 2017 to Jun 30, 2018 • Filed on May 15, 2018

Organization Profile

View Organization Page

P O Box 750Little Rock, AR 72203

(501) 375-2358

Siviq Scores

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

Liabilities / Assets

6th percentile

0.00x

Higher debt load relative to assets than 6% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

13th percentile

0.05x

Higher debt load relative to revenue than 13% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

84th percentile

31%

Higher net margin than 84% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

11th percentile

$96,430

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 9.4% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

43rd percentile

1.1%

Faster asset growth than 43% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

82nd percentile

27%

Faster revenue growth than 82% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets6th percentile

Assets

Up

$28,892,259

Up $303,624 (+1.1%) from 2017

Net Assets

Up

$28,840,234

Up $315,902 (+1.1%) from 2017

Liabilities

Down

$52,025

Down $12,278 (-19%) from 2017

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin84th percentile

Revenue

Up

$1,022,585

Up $218,088 (+27%) from 2017

Expenses

Down

$706,683

Down $49,351 (-6.5%) from 2017

Net Income

Up

$315,902

Up $267,439 (+552%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$40M$30M$20M$10M$0Assets 2011: $28,819,170Liabilities 2011: $186,057Net Assets 2011: $28,633,1132011Assets 2012: $28,807,488Liabilities 2012: $157,086Net Assets 2012: $28,650,4022012Assets 2013: $28,600,662Liabilities 2013: $151,666Net Assets 2013: $28,448,9962013Assets 2014: $28,536,872Liabilities 2014: $134,559Net Assets 2014: $28,402,3132014Assets 2015: $28,479,934Liabilities 2015: $114,268Net Assets 2015: $28,365,6662015Assets 2016: $28,578,496Liabilities 2016: $102,627Net Assets 2016: $28,475,8692016Assets 2017: $28,588,635Liabilities 2017: $64,303Net Assets 2017: $28,524,3322017Assets 2018: $28,892,259Liabilities 2018: $52,025Net Assets 2018: $28,840,2342018Assets 2019: $29,514,468Liabilities 2019: $59,582Net Assets 2019: $29,454,8862019Assets 2020: $30,089,301Liabilities 2020: $135,885Net Assets 2020: $29,953,4162020Assets 2021: $30,563,026Liabilities 2021: $153,821Net Assets 2021: $30,409,2052021Assets 2022: $30,830,517Liabilities 2022: $178,691Net Assets 2022: $30,651,8262022Assets 2023: $31,258,127Liabilities 2023: $178,179Net Assets 2023: $31,079,9482023Assets 2024: $31,894,317Liabilities 2024: $162,411Net Assets 2024: $31,731,9062024

Highlighted filing

2018

Assets$28,892,259
Liabilities$52,025
Net Assets$28,840,234
Open 2018 Filing

Operations Trend

Revenue Growth82nd percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2011: $616,970Expenses 2011: $754,475Net Income 2011: -$137,5052011Expenses 2012: $660,0382012Expenses 2013: $684,0172013Revenue 2014: $583,319Expenses 2014: $630,004Net Income 2014: -$46,6852014Revenue 2015: $702,873Expenses 2015: $739,520Net Income 2015: -$36,6472015Revenue 2016: $726,581Expenses 2016: $616,379Net Income 2016: $110,2022016Revenue 2017: $804,497Expenses 2017: $756,034Net Income 2017: $48,4632017Revenue 2018: $1,022,585Expenses 2018: $706,683Net Income 2018: $315,9022018Revenue 2019: $1,294,425Expenses 2019: $680,507Net Income 2019: $613,9182019Revenue 2020: $1,188,342Expenses 2020: $689,812Net Income 2020: $498,5302020Revenue 2021: $1,112,665Expenses 2021: $656,876Net Income 2021: $455,7892021Revenue 2022: $990,241Expenses 2022: $689,991Net Income 2022: $300,2502022Revenue 2023: $1,196,612Expenses 2023: $749,989Net Income 2023: $446,6232023Revenue 2024: $1,642,244Expenses 2024: $999,561Net Income 2024: $642,6832024

Highlighted filing

2018

Revenue$1,022,585
Expenses$706,683
Net Income$315,902
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 15, 2018
Return Version
2017v2.3
Gross Receipts
$1,022,585
Mission and Program Overview

Mission

STUDENT LOANS

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$28,524,332$28,840,234▲ $315,902
Other Notes and Loans Receivable, Net$15,361,364$18,383,432▲ $3,022,068
Cash and Non-Interest-Bearing Accounts$12,791,030$10,057,873▼ $2,733,157
Accounts Receivable$189,344$306,254▲ $116,910
Savings and Temporary Cash Investments$201,377$100,000▼ $101,377
Land, Buildings, and Equipment, Net$43,405$42,585▼ $820
Prepaid Expenses and Deferred Charges$1,620$1,620→ $0
Total Assets$28,588,635$28,892,259▲ $303,624
Other Assets Total$495$495→ $0
Liabilities
Other Liabilities$64,303$52,025▼ $12,278
Total Liabilities$64,303$52,025▼ $12,278
Net Assets / Fund Balance
Total Net Assets Fund Balance$28,524,332$28,840,234▲ $315,902
Total Liabilities and Net Assets / Fund Balance$28,588,635$28,892,259▲ $303,624

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,585$352,951$355,536
Land$40,000-$40,000
Compensation and Service Providers
Top Officer Pay11th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Tony MinicozziManagerFT$96,430$96,430
Ann B PughDirector-$1,000$1,000
Dennis MilliganSec/treas-$1,000$1,000
Paula Terrell2nd VP-$1,000$1,000
Bill AbernathyDirector-$750$750
Kenneth Mourton1st VP-$750$750
Ann Burton PortisPresident-$500$500
Jimmie Lou FisherDirector-$500$500
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$366,813
Investment Income
$596,542
Other Revenue
$59,230
Change in Net Assets
$315,902

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,022,585
Total Revenue per Audited Statements
$1,022,585
Total Revenue per Form 990
$1,022,585
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$416,161
Other Expenses$290,522
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$236,391--$236,391
Current Officers, Directors, Trustees, and Key Employees$101,930--$101,930
Other Employee Benefits$50,326--$50,326
Payroll Taxes$26,682--$26,682
Fees for Services Legal$23,053--$23,053
Travel$21,454--$21,454
Occupancy$13,898--$13,898
Office Expenses$13,827--$13,827
Insurance$13,699--$13,699
Fees for Services Accounting$10,000--$10,000
All Other Expenses$4,327--$4,327
Other Expenses$1,918--$1,918
Pension Plan Contributions$832--$832
Total Functional Expenses$706,683$0$0$706,683

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$706,683
Total Expenses per Audited Statements$706,683
Total Expenses per Form 990$706,683
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 Compensation$52,025
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Each member of the board of directors has been assigned one share of stock in the organization. They have voting rights, but do not have ownership of any of the assets of the organization.”

Form 990, Page 6, Part VI, Line 7A

“Members of the board of directors may elect other members to the board. When the organization was formed by the arkansas legislature, there was a requirement that the state treasurer also serve as a board member. This position is determined by open state wide elections.”

Form 990, Page 6, Part VI, Line 7B

“The board of directors has the ultimate decisions for the management of the organization. Day to day management decisions are made by a board approved manager.”

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

“A copy of the form 990 has been made available for board review prior to filing”

Form 990, Page 6, Part VI, Line 12C

“Board members are required to inform and discuss any situation that may be considered a conflict of interest to the operations of the board. There are no current conflicts.”

Form 990, Page 6, Part VI, Line 15A

“Compensation for key employees is subject to board approval. Management must also submit a budget to the board reflecting the salaries of other personnel.”

Form 990, Page 6, Part VI, Line 15B

“Salary for employees, other than the manager, are set in a budgeted amount by the manager. The approval of the budget is the responsibility of the board.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and financial statements are available to the public during the regular business hours of the organization. Management does request that an appointment be made for their review by interested members of the public.”

Filing and Contact Details

Filer

Filer Name
Arkansas Rural Endowment Fund Inc
EIN
71-6051240
Address
P O BOX 750, LITTLE ROCK, AR 72203

Signing Officer

Name
Tony Minicozzi
Title
Manager
Phone
5013752358
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tony Minicozzi
Voting Board Members
7
Independent Board Members
7
Employees
6

Preparer

Firm
Bell Foster Johnson & Watkins Llp
Address
5420 W MARKHAM ST, LITTLE ROCK, AR 72205-3410
Preparer
Tim Johnson CPA
Phone
5016630990
Raw XML Appendix376 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS OF THE BOARD OF DIRECTORS MAY ELECT OTHER MEMBERS TO THE BOARD. WHEN THE ORGANIZATION WAS FORMED BY THE ARKANSAS LEGISLATURE, THERE WAS A REQUIREMENT THAT THE STATE TREASURER ALSO SERVE AS A BOARD MEMBER. THIS POSITION IS DETERMINED BY OPEN STATE WIDE ELECTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS HAS THE ULTIMATE DECISIONS FOR THE MANAGEMENT OF THE ORGANIZATION. DAY TO DAY MANAGEMENT DECISIONS ARE MADE BY A BOARD APPROVED MANAGER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF THE FORM 990 HAS BEEN MADE AVAILABLE FOR BOARD REVIEW PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD MEMBERS ARE REQUIRED TO INFORM AND DISCUSS ANY SITUATION THAT MAY BE CONSIDERED A CONFLICT OF INTEREST TO THE OPERATIONS OF THE BOARD. THERE ARE NO CURRENT CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION FOR KEY EMPLOYEES IS SUBJECT TO BOARD APPROVAL. MANAGEMENT MUST ALSO SUBMIT A BUDGET TO THE BOARD REFLECTING THE SALARIES OF OTHER PERSONNEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6SALARY FOR EMPLOYEES, OTHER THAN THE MANAGER, ARE SET IN A BUDGETED AMOUNT BY THE MANAGER. THE APPROVAL OF THE BUDGET IS THE RESPONSIBILITY OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC DURING THE REGULAR BUSINESS HOURS OF THE ORGANIZATION. MANAGEMENT DOES REQUEST THAT AN APPOINTMENT BE MADE FOR THEIR REVIEW BY INTERESTED MEMBERS OF THE PUBLIC.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxableDistributionsInd0false
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IRS990/TempOrPermanentEndowmentsInd0false
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01022585
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt028892259
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IRS990/TravelGrp/TotalAmt021454
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ReturnHeader/BusinessOfficerGrp/PersonNm0TONY MINICOZZI
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ReturnHeader/BusinessOfficerGrp/PhoneNum05013752358
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-15
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ReturnHeader/FilingSecurityInformation/IPTm016:36:13
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0263474353
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BELL FOSTER JOHNSON & WATKINS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05420 W MARKHAM ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LITTLE ROCK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
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ReturnHeader/PreparerPersonGrp/PreparationDt02019-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TIM JOHNSON CPA
ReturnHeader/ReturnTs02019-05-15T16:36:13-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

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
$28,892,259
Liabilities
$52,025
Net assets
$28,840,234
Revenue
$1,022,585
Expenses
$706,683
Net income
$315,902
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$31.9$0.16$31.7$1.64$1.00$0.64
2023Detailed filing. Detailed filing data is available for this year.$31.3$0.18$31.1$1.20$0.75$0.45
2022Detailed filing. Detailed filing data is available for this year.$30.8$0.18$30.7$0.99$0.69$0.30
2021Detailed filing. Detailed filing data is available for this year.$30.6$0.15$30.4$1.11$0.66$0.46
2020Detailed filing. Detailed filing data is available for this year.$30.1$0.14$30.0$1.19$0.69$0.50
2019Detailed filing. Detailed filing data is available for this year.$29.5$0.06$29.5$1.29$0.68$0.61
2018Detailed filing. Detailed filing data is available for this year.$28.9$0.05$28.8$1.02$0.71$0.32
2017Detailed filing. Detailed filing data is available for this year.$28.6$0.06$28.5$0.80$0.76$0.05
2016Detailed filing. Detailed filing data is available for this year.$28.6$0.10$28.5$0.73$0.62$0.11
2015Detailed filing. Detailed filing data is available for this year.$28.5$0.11$28.4$0.70$0.74$0.04
2014Detailed filing. Detailed filing data is available for this year.$28.5$0.13$28.4$0.58$0.63$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.6$0.15$28.4$0.68
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.8$0.16$28.7$0.66
2011Summary only. Only limited summary data is available for this year.$28.8$0.19$28.6$0.62$0.75$0.14