Civic Intelligence

Searcy Regional Economic Development Cor

990 • Fiscal year 2019 • EIN 71-6057382

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

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

12th percentile

0.00x

Higher debt load relative to assets than 12% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

14th percentile

0.00x

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

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

99th percentile

78%

Higher net margin than 99% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

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

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

85th percentile

22%

Faster asset growth than 85% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

99th percentile

444%

Faster revenue growth than 99% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets12th percentile

Assets

Up

$2,539,305

Up $458,789 (+22%) from 2018

Net Assets

Up

$2,536,585

Up $458,549 (+22%) from 2018

Liabilities

Up

$2,720

Up $240 (+9.7%) from 2018

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin99th percentile

Revenue

Up

$590,760

Up $482,147 (+444%) from 2018

Expenses

Up

$132,211

Up $57,006 (+76%) from 2018

Net Income

Up

$458,549

Up $425,141 (+1273%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth85th 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

2019

Assets$2,539,305
Liabilities$2,720
Net Assets$2,536,585
Open 2019 Filing

Operations Trend

Revenue Growth99th 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

2019

Revenue$590,760
Expenses$132,211
Net Income$458,549
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.0
Gross Receipts
$725,515
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
Savings and Temporary Cash Investments$888,480$1,470,507▲ $582,027
Land, Buildings, and Equipment, Net$1,192,036$1,068,798▼ $123,238
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$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-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,080,516$2,539,305▲ $458,789
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$2,480$2,720▲ $240
Total Liabilities$2,480$2,720▲ $240
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,078,036$2,536,585▲ $458,549
Total Net Assets Fund Balance$2,078,036$2,536,585▲ $458,549
Total Liabilities and Net Assets / Fund Balance$2,080,516$2,539,305▲ $458,789

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$441,778$894,073$1,335,851
Land$627,020-$627,020
Compensation and Service Providers
Top Officer Pay24th percentile

Board Members and Trustees

NameTitle
Matt FaulknerPresident
Ricky FloydVice President
Adam HartDirector
Bryan BurksDirector
David EvansDirector
Dr David BurksDirector
Jamie MobleyDirector
Kyle OsborneDirector
Michael LincolnDirector
Reynie RutledgeDirector
Ross RidoutDirector
Steve FosterDirector
Steve LightleDirector
Steven WebbTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$55,154
Program Service Revenue
$0
Investment Income
$461,731
Other Revenue
$73,875
All Other Contributions
$32,827
Change in Net Assets
$458,549
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$132,211
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$8,195$51,900-$8,195
All Other Expenses$6,626$955-$7,581
Fees for Services Accounting-$2,500-$2,500
Total Functional Expenses$76,856$55,355$0$132,211
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
Audit committee
No
Backup withholding compliance
No
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
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
Matt Faulkner
Title
President
Signed
2020-11-13
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
Preparer
Jay W Cherry
Phone
5012685353
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IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Administrative Fees
IRS990/OtherExpensesGrp/Desc1Industry Promotions
IRS990/OtherExpensesGrp/Desc2Surveying
IRS990/OtherExpensesGrp/Desc3Holiday of Lights
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt051900
IRS990/OtherExpensesGrp/ProgramServicesAmt051659
IRS990/OtherExpensesGrp/ProgramServicesAmt110376
IRS990/OtherExpensesGrp/ProgramServicesAmt28195
IRS990/OtherExpensesGrp/TotalAmt051900
IRS990/OtherExpensesGrp/TotalAmt151659
IRS990/OtherExpensesGrp/TotalAmt210376
IRS990/OtherExpensesGrp/TotalAmt38195
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt025295
IRS990/PYInvestmentIncomeAmt08698
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt075205
IRS990/PYOtherRevenueAmt074620
IRS990/PYRevenuesLessExpensesAmt033408
IRS990/PYTotalExpensesAmt075205
IRS990/PYTotalRevenueAmt0108613
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0458549
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt073875
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0888480
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01470507
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0441778
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0894073
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01335851
IRS990ScheduleD/LandGrp/BookValueAmt0627020
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0627020
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01068798
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02080516
IRS990/TotalAssetsEOYAmt02539305
IRS990/TotalAssetsGrp/BOYAmt02080516
IRS990/TotalAssetsGrp/EOYAmt02539305
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt055154
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt055355
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt076856
IRS990/TotalFunctionalExpensesGrp/TotalAmt0132211
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02480
IRS990/TotalLiabilitiesEOYAmt02720
IRS990/TotalLiabilitiesGrp/BOYAmt02480
IRS990/TotalLiabilitiesGrp/EOYAmt02720
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02078036
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02536585
IRS990/TotalProgramServiceExpensesAmt076856
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt073875
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0461731
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0590760
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02080516
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02539305
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02323 South Main
IRS990/USAddress/CityNm0Searcy
IRS990/USAddress/StateAbbreviationCd0AR
IRS990/USAddress/ZIPCd072143
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-01-07 14:23:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Matt Faulkner
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-13
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
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0405 North Spring Street / PO Box 31
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Searcy
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd072145
ReturnHeader/PreparerPersonGrp/PhoneNum05012685353
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jay W Cherry
ReturnHeader/ReturnTs02020-11-13T14:15:28-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$2,539,305
Liabilities
$2,720
Net assets
$2,536,585
Revenue
$590,760
Expenses
$132,211
Net income
$458,549
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
2019Detailed filing. Detailed filing data is available for this year.$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
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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