Civic Intelligence

Searcy Regional Economic Development Cor

990 • Fiscal year 2017 • EIN 71-6057382

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 13, 2018

Organization ProfileN/A
2323 South MainSearcy, AR 72143

(501) 268-2458

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Higher debt load relative to assets than 14% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

93rd percentile

0.88x

Higher debt load relative to revenue than 93% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Net Margin

1st percentile

-779%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Asset Growth

22nd percentile

-3.2%

Faster asset growth than 22% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

1st percentile

-97%

Faster revenue growth than 1% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets14th percentile

Assets

Down

$2,052,561

Down $66,892 (-3.2%) from 2016

Net Assets

Down

$2,044,628

Down $69,851 (-3.3%) from 2016

Liabilities

Up

$7,933

Up $2,959 (+59%) from 2016

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin1st percentile

Revenue

Down

$8,965

Down $329,156 (-97%) from 2016

Expenses

Down

$78,816

Down $57,859 (-42%) from 2016

Net Income

Down

-$69,851

Down $271,297 (-135%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $1,703,439Liabilities 2011: $8,000Net Assets 2011: $1,695,4392011Assets 2012: $1,715,648Liabilities 2012: $4,750Net Assets 2012: $1,710,8982012Assets 2013: $1,785,000Liabilities 2013: $250Net Assets 2013: $1,784,7502013Assets 2014: $1,826,633Liabilities 2014: $2,750Net Assets 2014: $1,823,8832014Assets 2015: $1,922,533Liabilities 2015: $9,500Net Assets 2015: $1,913,0332015Assets 2016: $2,119,453Liabilities 2016: $4,974Net Assets 2016: $2,114,4792016Assets 2017: $2,052,561Liabilities 2017: $7,933Net Assets 2017: $2,044,6282017Assets 2018: $2,080,516Liabilities 2018: $2,480Net Assets 2018: $2,078,0362018Assets 2019: $2,539,305Liabilities 2019: $2,720Net Assets 2019: $2,536,5852019Assets 2020: $2,408,865Liabilities 2020: $20,550Net Assets 2020: $2,388,3152020Assets 2021: $2,433,774Liabilities 2021: $20,355Net Assets 2021: $2,413,4192021Assets 2022: $3,449,624Liabilities 2022: $0Net Assets 2022: $3,449,6242022Assets 2023: $3,368,791Liabilities 2023: $1,729Net Assets 2023: $3,367,0622023Assets 2024: $3,517,598Liabilities 2024: $200Net Assets 2024: $3,517,3982024

Highlighted filing

2017

Assets$2,052,561
Liabilities$7,933
Net Assets$2,044,628
Open 2017 Filing

Operations Trend

Revenue Growth1st percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $134,832Expenses 2011: $190,025Net Income 2011: -$55,1932011Revenue 2012: $147,856Expenses 2012: $132,397Net Income 2012: $15,4592012Revenue 2013: $155,805Expenses 2013: $81,953Net Income 2013: $73,8522013Revenue 2014: $122,624Expenses 2014: $83,491Net Income 2014: $39,1332014Revenue 2015: $234,627Expenses 2015: $145,477Net Income 2015: $89,1502015Revenue 2016: $338,121Expenses 2016: $136,675Net Income 2016: $201,4462016Revenue 2017: $8,965Expenses 2017: $78,816Net Income 2017: -$69,8512017Revenue 2018: $108,613Expenses 2018: $75,205Net Income 2018: $33,4082018Revenue 2019: $590,760Expenses 2019: $132,211Net Income 2019: $458,5492019Revenue 2020: $8,495Expenses 2020: $156,765Net Income 2020: -$148,2702020Revenue 2021: $92,792Expenses 2021: $88,237Net Income 2021: $4,5552021Revenue 2022: $1,186,211Expenses 2022: $143,263Net Income 2022: $1,042,9482022Revenue 2023: $98,313Expenses 2023: $180,875Net Income 2023: -$82,5622023Revenue 2024: $483,415Expenses 2024: $402,515Net Income 2024: $80,9002024

Highlighted filing

2017

Revenue$8,965
Expenses$78,816
Net Income-$69,851
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 13, 2018
Return Version
2017v2.2
Gross Receipts
$84,095
Mission and Program Overview

Mission

To promote growth in existing industry and recruit new industries for the benefitof the city of Searcy, Arkansas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,225,252$1,208,644▼ $16,608
Savings and Temporary Cash Investments$667,194$838,592▲ $171,398
Accounts Receivable$217,500$0▼ $217,500
Prepaid Expenses and Deferred Charges-$4,325-
Pledges and Grants Receivable$9,507$1,000▼ $8,507
Cash and Non-Interest-Bearing Accounts-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,119,453$2,052,561▼ $66,892
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$3,224$7,933▲ $4,709
Deferred Revenue$1,750--
Total Liabilities$4,974$7,933▲ $2,959
Net Assets / Fund Balance
Unrestricted Net Assets$2,114,479$2,044,628▼ $69,851
Total Net Assets Fund Balance$2,114,479$2,044,628▼ $69,851
Total Liabilities and Net Assets / Fund Balance$2,119,453$2,052,561▼ $66,892

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$474,994$860,857$1,335,851
Land$733,650-$733,650
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Dr David BurksPresident
Steve LightleVice President
Brooks DavisDirector
David EvansDirector
David MorrisDirector
Donnie MillerDirector
Flave CarpenterDirector
Jim HouseDirector
Matt FaulknerDirector
Michael LincolnDirector
Patrick StegallDirector
Ray MontgomeryDirector
Ross RidoutDirector
Reynie RutledgeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$31,615
Program Service Revenue
$0
Investment Income
$8,480
Other Revenue
$-31,130
All Other Contributions
$13,401
Change in Net Assets
$-69,851

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,965
Total Revenue per Audited Statements
$8,965
Total Revenue per Form 990
$8,965
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$78,816
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$8,652$3,167-$3,167
All Other Expenses$2,993--$2,993
Fees for Services Accounting-$2,400-$2,400
Total Functional Expenses$22,149$56,667$0$78,816

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$78,816
Total Expenses per Audited Statements$78,816
Total Expenses per Form 990$78,816
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
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, Part VI, Line 11B: Form 990 Review Process

“Directors will review Form 990 in board meeting before return is filed.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Public may view documents upon request”

Filing and Contact Details

Filer

Filer Name
Searcy Regional Economic Development Cor
EIN
71-6057382
Phone
5012682458
Address
2323 South Main, Searcy, AR 72143

Signing Officer

Name
Dr David Burks
Title
President
Signed
2018-11-13
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
Ar
Voting Board Members
14
Independent Board Members
0
Employees
0

Preparer

Firm
Hamilton Cherry Spradlin & Mandrell LTD
Address
405 North Spring Street / PO Box 31, Searcy, AR 72145-0310
Preparer
Jay W Cherry
Phone
5012685353
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0-31130
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Administrative Fees
IRS990/OtherExpensesGrp/Desc1Industry Promotions
IRS990/OtherExpensesGrp/Desc2Holiday of Lights
IRS990/OtherExpensesGrp/Desc3Miscellaneous
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt051100
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13167
IRS990/OtherExpensesGrp/ProgramServicesAmt010504
IRS990/OtherExpensesGrp/ProgramServicesAmt18652
IRS990/OtherExpensesGrp/TotalAmt051100
IRS990/OtherExpensesGrp/TotalAmt110504
IRS990/OtherExpensesGrp/TotalAmt28652
IRS990/OtherExpensesGrp/TotalAmt33167
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt09507
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01000
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04325
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt055088
IRS990/PYInvestmentIncomeAmt06330
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0136675
IRS990/PYOtherRevenueAmt0276703
IRS990/PYRevenuesLessExpensesAmt0201446
IRS990/PYTotalExpensesAmt0136675
IRS990/PYTotalRevenueAmt0338121
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-69851
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0-31130
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt013401
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0667194
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0838592
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0474994
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0860857
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01335851
IRS990ScheduleD/ExpensesSubtotalAmt078816
IRS990ScheduleD/LandGrp/BookValueAmt0733650
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0733650
IRS990ScheduleD/RevenueSubtotalAmt08965
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01208644
IRS990ScheduleD/TotalExpensesPerForm990Amt078816
IRS990ScheduleD/TotalRevenuePerForm990Amt08965
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08965
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt078816
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Directors will review Form 990 in board meeting before return is filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Public may view documents upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02119453
IRS990/TotalAssetsEOYAmt02052561
IRS990/TotalAssetsGrp/BOYAmt02119453
IRS990/TotalAssetsGrp/EOYAmt02052561
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt031615
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt056667
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt022149
IRS990/TotalFunctionalExpensesGrp/TotalAmt078816
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04974
IRS990/TotalLiabilitiesEOYAmt07933
IRS990/TotalLiabilitiesGrp/BOYAmt04974
IRS990/TotalLiabilitiesGrp/EOYAmt07933
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02114479
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02044628
IRS990/TotalProgramServiceExpensesAmt022149
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0-31130
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt08480
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt08965
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02119453
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02052561
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt02114479
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02044628
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Dr David Burks
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Searcy Regional Economic Development Cor
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0co of Searcy Chamber of Commerce
ReturnHeader/Filer/BusinessNameControlTxt0SEAR
ReturnHeader/Filer/EIN0716057382
ReturnHeader/Filer/PhoneNum05012682458
ReturnHeader/Filer/USAddress/AddressLine1Txt02323 South Main
ReturnHeader/Filer/USAddress/CityNm0Searcy
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd072143
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0710447145
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Hamilton Cherry Spradlin & Mandrell LTD

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,052,561
Liabilities
$7,933
Net assets
$2,044,628
Revenue
$8,965
Expenses
$78,816
Net income
-$69,851
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.52$0.00$3.52$0.48$0.40$0.08
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.37$0.00$3.37$0.10$0.18$0.08
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.45$0.00$3.45$1.19$0.14$1.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.43$0.02$2.41$0.09$0.09$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.41$0.02$2.39$0.01$0.16$0.15
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.54$0.00$2.54$0.59$0.13$0.46
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.08$0.00$2.08$0.11$0.08$0.03
2017Detailed filing. Detailed filing data is available for this year.$2.05$0.01$2.04$0.01$0.08$0.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.12$0.00$2.11$0.34$0.14$0.20
2015Summary only. Only limited summary data is available for this year.$1.92$0.01$1.91$0.23$0.15$0.09
2014Summary only. Only limited summary data is available for this year.$1.83$0.00$1.82$0.12$0.08$0.04
2013Summary only. Only limited summary data is available for this year.$1.79$0.00$1.78$0.16$0.08$0.07
2012Summary only. Only limited summary data is available for this year.$1.72$0.00$1.71$0.15$0.13$0.02
2011Summary only. Only limited summary data is available for this year.$1.70$0.01$1.70$0.13$0.19$0.06