Civic Intelligence

Searcy Regional Economic Development Cor

990 • Fiscal year 2020 • EIN 71-6057382

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

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

19th percentile

0.01x

Higher debt load relative to assets than 19% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

2.42x

Higher debt load relative to revenue than 98% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Net Margin

1st percentile

-1745%

Higher net margin than 1% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

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.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Asset Growth

20th percentile

-5.1%

Faster asset growth than 20% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

1st percentile

-99%

Faster revenue growth than 1% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets19th percentile

Assets

Down

$2,408,865

Down $130,440 (-5.1%) from 2019

Net Assets

Down

$2,388,315

Down $148,270 (-5.8%) from 2019

Liabilities

Up

$20,550

Up $17,830 (+656%) from 2019

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin1st percentile

Revenue

Down

$8,495

Down $582,265 (-99%) from 2019

Expenses

Up

$156,765

Up $24,554 (+19%) from 2019

Net Income

Down

-$148,270

Down $606,819 (-132%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth20th 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

2020

Assets$2,408,865
Liabilities$20,550
Net Assets$2,388,315
Open 2020 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

2020

Revenue$8,495
Expenses$156,765
Net Income-$148,270
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$437,760
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$1,470,507$1,720,433▲ $249,926
Land, Buildings, and Equipment, Net$1,068,798$688,430▼ $380,368
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$2,539,305$2,408,865▼ $130,440
Other Assets Total-$2-
Liabilities
Accounts Payable and Accrued Expenses$2,720$20,550▲ $17,830
Total Liabilities$2,720$20,550▲ $17,830
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,536,585$2,388,315▼ $148,270
Total Net Assets Fund Balance$2,536,585$2,388,315▼ $148,270
Total Liabilities and Net Assets / Fund Balance$2,539,305$2,408,865▼ $130,440

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$462,374$911,043$1,373,417
Land$226,056-$226,056
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Ricky FloydPresident
Steven WebbVice President
Adam HartDirector
Bryan BurksDirector
David EvansDirector
Dr David BurksDirector
Jamie MobleyDirector
Kyle OsborneDirector
Matt FaulknerDirector
Michael LincolnDirector
Phil MillerDirector
Reynie RutledgeDirector
Steve LightleDirector
Ross RidoutTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$22,170
Program Service Revenue
$0
Investment Income
$-87,374
Other Revenue
$73,699
Change in Net Assets
$-148,270
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$156,765
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
All Other Expenses$4,299$423-$4,722
Other Expenses$2,902$51,900-$2,902
Fees for Services Accounting-$2,500-$2,500
Total Functional Expenses$69,942$86,823$0$156,765
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
Ricky Floyd
Title
President
Signed
2021-11-15
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/EOYAmt02
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Contributions
IRS990/OtherExpensesGrp/Desc1Administrative Fees
IRS990/OtherExpensesGrp/Desc2Industry Promotions
IRS990/OtherExpensesGrp/Desc3Holiday of Lights
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt032000
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt151900
IRS990/OtherExpensesGrp/ProgramServicesAmt051580
IRS990/OtherExpensesGrp/ProgramServicesAmt111161
IRS990/OtherExpensesGrp/ProgramServicesAmt22902
IRS990/OtherExpensesGrp/TotalAmt083580
IRS990/OtherExpensesGrp/TotalAmt151900
IRS990/OtherExpensesGrp/TotalAmt211161
IRS990/OtherExpensesGrp/TotalAmt32902
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/PYContributionsGrantsAmt055154
IRS990/PYInvestmentIncomeAmt0461731
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0132211
IRS990/PYOtherRevenueAmt073875
IRS990/PYRevenuesLessExpensesAmt0458549
IRS990/PYTotalExpensesAmt0132211
IRS990/PYTotalRevenueAmt0590760
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-148270
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt073699
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01470507
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01720433
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0462374
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0911043
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01373417
IRS990ScheduleD/LandGrp/BookValueAmt0226056
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0226056
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0688430
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/TotalAssetsBOYAmt02539305
IRS990/TotalAssetsEOYAmt02408865
IRS990/TotalAssetsGrp/BOYAmt02539305
IRS990/TotalAssetsGrp/EOYAmt02408865
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt022170
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt086823
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt069942
IRS990/TotalFunctionalExpensesGrp/TotalAmt0156765
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02720
IRS990/TotalLiabilitiesEOYAmt020550
IRS990/TotalLiabilitiesGrp/BOYAmt02720
IRS990/TotalLiabilitiesGrp/EOYAmt020550
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02536585
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02388315
IRS990/TotalProgramServiceExpensesAmt0101942
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt073699
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-87374
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt08495
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02539305
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02408865
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/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Ricky Floyd
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-15
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

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,408,865
Liabilities
$20,550
Net assets
$2,388,315
Revenue
$8,495
Expenses
$156,765
Net income
-$148,270
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
2020Detailed filing. Detailed filing data is available for this year.$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
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