Civic Intelligence

Searcy Regional Economic Development Cor

990 • Fiscal year 2022 • EIN 71-6057382

Jan 01, 2022 to Dec 31, 2022 • Filed on Jul 18, 2023

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

11th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

11th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Net Margin

99th percentile

88%

Higher net margin than 99% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

26th percentile

$0

Higher top officer pay than 26% of similar nonprofits.

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

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Asset Growth

91st percentile

42%

Faster asset growth than 91% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

99th percentile

1178%

Faster revenue growth than 99% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets11th percentile

Assets

Up

$3,449,624

Up $1,015,850 (+42%) from 2021

Net Assets

Up

$3,449,624

Up $1,036,205 (+43%) from 2021

Liabilities

Down

$0

Down $20,355 (-100%) from 2021

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin99th percentile

Revenue

Up

$1,186,211

Up $1,093,419 (+1178%) from 2021

Expenses

Up

$143,263

Up $55,026 (+62%) from 2021

Net Income

Up

$1,042,948

Up $1,038,393 (+22797%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth91st 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

2022

Assets$3,449,624
Liabilities$0
Net Assets$3,449,624
Open 2022 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

2022

Revenue$1,186,211
Expenses$143,263
Net Income$1,042,948
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 18, 2023
Return Version
2022v5.0
Gross Receipts
$2,578,400
Mission and Program Overview

Mission

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

To promote growth in existing industry and recruit new industries for the benefit of the city of searcy arkansas

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,763,620$3,439,872▲ $1,676,252
Land, Buildings, and Equipment, Net$670,152--
Accounts Receivable-$9,750-
Total Assets$2,433,774$3,449,624▲ $1,015,850
Other Assets Total$2$2→ $0
Liabilities
Accounts Payable and Accrued Expenses$20,355--
Total Liabilities$20,355$0▼ $20,355
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,413,419$3,449,624▲ $1,036,205
Total Net Assets Fund Balance$2,413,419$3,449,624▲ $1,036,205
Total Liabilities and Net Assets / Fund Balance$2,433,774$3,449,624▲ $1,015,850

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$2--
Compensation and Service Providers
Top Officer Pay26th percentile

Board Members and Trustees

NameTitle
Ricky FloydPresident
Adam HartBoard Member
Bryan BurksBoard Member
David EvansBoard Member
Donnie MillerBoard Member
Kyle OsborneBoard Member
Matt FaulknerBoard Member
Michael LincolnBoard Member
Phil MillerBoard Member
Phillip HaysBoard Member
Reynie RutledgeBoard Member
Steven CollierBoard Member
Ross RidoutTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$16,977
Program Service Revenue
$0
Investment Income
$1,094,412
Other Revenue
$74,822
Change in Net Assets
$1,042,948
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$143,263
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$66,617--$66,617
Depreciation Depletion-$12,785-$12,785
Conferences and Meetings$8,211--$8,211
Fees for Services Accounting$2,900--$2,900
Other Expenses$550--$550
Total Functional Expenses$130,478$12,785$0$143,263
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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 governing body review Part VI line 11

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

Governing documents etc available to public Part VI line 19

“Public may view documents upon request”

Filing and Contact Details

Filer

Filer Name
Searcy Regional Economic Developmen
EIN
71-6057382
Address
2323 SOUTH MAIN, SEARCY, AR 72143

Signing Officer

Name
Buck Layne
Title
President
Phone
5012682458
Signed
2023-07-18
Discuss with paid preparer
No

Organization Details

Formed
1955
Legal Domicile
Ar
Voting Board Members
13
Independent Board Members
0
Employees
0

Preparer

Firm
Curtis Williams Jr CPA Pa
Address
508 W PLEASURE AVENUE, Searcy, AR 72143
Preparer
Curtis Williams Jr CPA
Phone
5012792099
Supplemental Narrative

Additional Explanations

List of other expenses Part IX line 24E

“Taxes, misc exp, insurance-other”

Raw XML Appendix351 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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ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,449,624
Liabilities
$0
Net assets
$3,449,624
Revenue
$1,186,211
Expenses
$143,263
Net income
$1,042,948
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
2022Detailed filing. Detailed filing data is available for this year.$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
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