Civic Intelligence

Franklinton Economic Development Foundation Inc

990 • Fiscal year 2019 • EIN 72-1182299

Nov 01, 2018 to Oct 31, 2019 • Filed on Mar 07, 2020

Organization ProfileWWW.FRANKLINTONAREA.COM
526 11th AveFranklinton, LA 70438

(985) 839-4413

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

19th percentile

0.02x

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

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

Net Margin

87th percentile

21%

Higher net margin than 87% 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

36th percentile

1.4%

Faster asset growth than 36% of similar nonprofits.

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

Revenue Growth

33rd percentile

-0.7%

Faster revenue growth than 33% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets12th percentile

Assets

Up

$1,103,532

Up $15,735 (+1.4%) from 2018

Net Assets

Up

$1,102,324

Up $15,734 (+1.4%) from 2018

Liabilities

Up

$1,208

Up $1 (+0.1%) from 2018

Revenue And Expenses
Liabilities / Revenue19th percentileNet Margin87th percentile

Revenue

Down

$73,877

Down $558 (-0.7%) from 2018

Expenses

Down

$58,143

Down $20,427 (-26%) from 2018

Net Income

Up

$15,734

Up $19,869 (+481%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $1,025,256Liabilities 2011: $1,400Net Assets 2011: $1,023,8562011Assets 2012: $938,411Liabilities 2012: $1,500Net Assets 2012: $936,9112012Assets 2013: $983,946Liabilities 2013: $5,781Net Assets 2013: $978,1652013Assets 2014: $1,018,700Liabilities 2014: $1,499Net Assets 2014: $1,017,2012014Assets 2015: $1,049,381Liabilities 2015: $5,682Net Assets 2015: $1,043,6992015Assets 2016: $1,076,841Liabilities 2016: $1,300Net Assets 2016: $1,075,5412016Assets 2017: $1,091,931Liabilities 2017: $1,206Net Assets 2017: $1,090,7252017Assets 2018: $1,087,797Liabilities 2018: $1,207Net Assets 2018: $1,086,5902018Assets 2019: $1,103,532Liabilities 2019: $1,208Net Assets 2019: $1,102,3242019Assets 2020: $1,118,249Liabilities 2020: $1,199Net Assets 2020: $1,117,0502020Assets 2021: $1,133,655Liabilities 2021: $1,210Net Assets 2021: $1,132,4452021Assets 2022: $1,059,305Liabilities 2022: $0Net Assets 2022: $1,059,3052022Assets 2023: $1,045,726Liabilities 2023: $1,205Net Assets 2023: $1,044,5212023Assets 2024: $1,235,740Liabilities 2024: $1,205Net Assets 2024: $1,234,5352024

Highlighted filing

2019

Assets$1,103,532
Liabilities$1,208
Net Assets$1,102,324
Open 2019 Filing

Operations Trend

Revenue Growth33rd percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $105,112Expenses 2011: $56,706Net Income 2011: $48,4062011Revenue 2012: $145,432Expenses 2012: $232,377Net Income 2012: -$86,9452012Revenue 2013: $103,624Expenses 2013: $62,370Net Income 2013: $41,2542013Revenue 2014: $114,302Expenses 2014: $75,266Net Income 2014: $39,0362014Revenue 2015: $81,566Expenses 2015: $55,068Net Income 2015: $26,4982015Revenue 2016: $84,644Expenses 2016: $52,802Net Income 2016: $31,8422016Revenue 2017: $71,211Expenses 2017: $56,027Net Income 2017: $15,1842017Revenue 2018: $74,435Expenses 2018: $78,570Net Income 2018: -$4,1352018Revenue 2019: $73,877Expenses 2019: $58,143Net Income 2019: $15,7342019Revenue 2020: $66,347Expenses 2020: $51,632Net Income 2020: $14,7152020Revenue 2021: $69,971Expenses 2021: $54,576Net Income 2021: $15,3952021Revenue 2022: $8,218Expenses 2022: $81,358Net Income 2022: -$73,1402022Revenue 2023: $26,196Expenses 2023: $40,980Net Income 2023: -$14,7842023Revenue 2024: $47,489Expenses 2024: $60,440Net Income 2024: -$12,9512024

Highlighted filing

2019

Revenue$73,877
Expenses$58,143
Net Income$15,734
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2018 to Oct 31, 2019
Signed
Mar 7, 2020
Return Version
2018v3.2
Gross Receipts
$73,877
Mission and Program Overview

Mission

Promote economic development of franklinton, la

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$650,000$900,000▲ $250,000
Cash and Non-Interest-Bearing Accounts$436,660$202,449▼ $234,211
Other Notes and Loans Receivable, Net$323$503▲ $180
Land, Buildings, and Equipment, Net$664$430▼ $234
Total Assets$1,087,797$1,103,532▲ $15,735
Other Assets Total$150$150→ $0
Liabilities
Accounts Payable and Accrued Expenses$1,207$1,208▲ $1
Total Liabilities$1,207$1,208▲ $1
Net Assets / Fund Balance
Unrestricted Net Assets$1,086,590$1,102,324▲ $15,734
Total Net Assets Fund Balance$1,086,590$1,102,324▲ $15,734
Total Liabilities and Net Assets / Fund Balance$1,087,797$1,103,532▲ $15,735

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$430$7,090$7,520
Compensation and Service Providers
Top Officer Pay24th percentile

Board Members and Trustees

NameTitle
Henry HarrisonPresident
Bryant ButtoneBoard Member
Claire McguireBoard Member
Coylean G SchlogelBoard Member
Darrell FairburnBoard Member
Donna GrahamBoard Member
Kristal C SimmonsBoard Member
Kristina KnightBoard Member
Matthew TateBoard Member
Mike GillBoard Member
Olander SmithBoard Member
Patrice CrainBoard Member
Reed RileyBoard Member
Robert a MichaelBoard Member
Seth DescantBoard Member
Tj Butler JrBoard Member
Ryan SealExecutive Di
Revenue and Support

Revenue Composition

Contributions and Grants
$5,390
Program Service Revenue
$55,500
Investment Income
$12,877
Other Revenue
$110
All Other Contributions
$325
Change in Net Assets
$15,734
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$58,143
Total Fundraising Expense$588
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$26,060$8,339$347$34,746
Occupancy$4,210$1,404-$5,614
Fees for Services Other$3,009$1,003-$4,012
Fees for Services Accounting$2,340$780-$3,120
Office Expenses$1,382$460-$1,842
Insurance$1,168$389-$1,557
Other Expenses$490$140-$490
All Other Expenses--$241$241
Depreciation Depletion$176$59-$235
Total Functional Expenses$44,806$12,749$588$58,143
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
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, Page 6, Part VI, Line 11B

“Form 990 is reviewed by the treasurer before filing.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Franklinton Economic Development
EIN
72-1182299
Address
526 11TH AVE, FRANKLINTON, LA 70438

Signing Officer

Name
Seth Descant
Title
Board Member
Signed
2020-03-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Seth Descant
Formed
1991
Legal Domicile
La
Voting Board Members
17
Independent Board Members
17
Employees
0

Preparer

Firm
Minda B Raybourn CPA
Address
820 11TH AVE, FRANKLINTON, LA 70438
Preparer
Minda Raybourn
Phone
9858394413
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“The foundation's purose is to promote economic development in the franklinton area through encouraging manufacturing, processing, and service firms to locate in the franklinton area and render assistance to promote stability and growth to current franklinton area firms and industry.”

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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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IRS990/OtherExpensesGrp/TotalAmt3490
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUES
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0110
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0110
IRS990/OtherRevenueTotalAmt0110
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0323
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0503
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0SETH DESCANT
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0GARBAGE TAX
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt055500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt055500
IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE FOUNDATION'S PUROSE IS TO PROMOTE ECONOMIC DEVELOPMENT IN THE FRANKLINTON AREA THROUGH ENCOURAGING MANUFACTURING, PROCESSING, AND SERVICE FIRMS TO LOCATE IN THE FRANKLINTON AREA AND RENDER ASSISTANCE TO PROMOTE STABILITY AND GROWTH TO CURRENT FRANKLINTON AREA FIRMS AND INDUSTRY.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt09030
IRS990/PYInvestmentIncomeAmt010405
IRS990/PYOtherExpensesAmt078570
IRS990/PYProgramServiceRevenueAmt055000
IRS990/PYRevenuesLessExpensesAmt0-4135
IRS990/PYTotalExpensesAmt078570
IRS990/PYTotalRevenueAmt074435
IRS990/ReconcilationRevenueExpnssAmt015734
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt055000
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0650000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0900000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0430
IRS990ScheduleD/EquipmentGrp/DepreciationAmt07090
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt07520
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0430
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION'S PUROSE IS TO PROMOTE ECONOMIC DEVELOPMENT IN THE FRANKLINTON AREA THROUGH ENCOURAGING MANUFACTURING, PROCESSING, AND SERVICE FIRMS TO LOCATE IN THE FRANKLINTON AREA AND RENDER ASSISTANCE TO PROMOTE STABILITY AND GROWTH TO CURRENT FRANKLINTON AREA FIRMS AND INDUSTRY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE TREASURER BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01087797
IRS990/TotalAssetsEOYAmt01103532
IRS990/TotalAssetsGrp/BOYAmt01087797
IRS990/TotalAssetsGrp/EOYAmt01103532
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt05390
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0588
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt012749
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt044806
IRS990/TotalFunctionalExpensesGrp/TotalAmt058143
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01207
IRS990/TotalLiabilitiesEOYAmt01208
IRS990/TotalLiabilitiesGrp/BOYAmt01207
IRS990/TotalLiabilitiesGrp/EOYAmt01208
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01086590
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01102324
IRS990/TotalProgramServiceExpensesAmt044806
IRS990/TotalProgramServiceRevenueAmt055500
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt068487
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt073877
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01087797
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01103532
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01086590
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01102324
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 427
IRS990/USAddress/CityNm0FRANKLINTON
IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd070438
IRS990/VotingMembersGoverningBodyCnt017
IRS990/VotingMembersIndependentCnt017
IRS990/WebsiteAddressTxt0WWW.FRANKLINTONAREA.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SETH DESCANT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD MEMBER
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRANKLINTON ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0721182299
ReturnHeader/Filer/USAddress/AddressLine1Txt0526 11TH AVE
ReturnHeader/Filer/USAddress/CityNm0FRANKLINTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0LA
ReturnHeader/Filer/USAddress/ZIPCd070438
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId02CE3B5FE4747EB8713A73DFF3FFF7EF21A6F30B8
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId02CE3B5FE4747EB8713A73DFF3FFF7EF21A6F30B8
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0207.29.212.250
ReturnHeader/FilingSecurityInformation/IPDt02020-04-02
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm015:36:49
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0273474112
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MINDA B RAYBOURN CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0820 11TH AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FRANKLINTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0LA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd070438
ReturnHeader/PreparerPersonGrp/PhoneNum09858394413
ReturnHeader/PreparerPersonGrp/PreparationDt02020-04-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MINDA RAYBOURN
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-04-02T15:36:49-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-11-01
ReturnHeader/TaxPeriodEndDt02019-10-31
ReturnHeader/TaxYr02018

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
$1,103,532
Liabilities
$1,208
Net assets
$1,102,324
Revenue
$73,877
Expenses
$58,143
Net income
$15,734
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.24$0.00$1.23$0.05$0.06$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.05$0.00$1.04$0.03$0.04$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.06$0.00$1.06$0.01$0.08$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.13$0.00$1.13$0.07$0.05$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.12$0.00$1.12$0.07$0.05$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.10$0.00$1.10$0.07$0.06$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.09$0.00$1.09$0.07$0.08$0.00
2017Detailed filing. Detailed filing data is available for this year.$1.09$0.00$1.09$0.07$0.06$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.08$0.00$1.08$0.08$0.05$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.05$0.01$1.04$0.08$0.06$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.02$0.00$1.02$0.11$0.08$0.04
2013Summary only. Only limited summary data is available for this year.$0.98$0.01$0.98$0.10$0.06$0.04
2012Summary only. Only limited summary data is available for this year.$0.94$0.00$0.94$0.15$0.23$0.09
2011Summary only. Only limited summary data is available for this year.$1.03$0.00$1.02$0.11$0.06$0.05