Civic Intelligence

Miami Area Economic Development Service Inc.

990 • Fiscal year 2018 • EIN 73-1263634

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 15, 2019

Organization ProfileWWW.MIAMI-OK.ORG
11 South Main StreetMiami, OK 74354-6309

(918) 542-8405

Siviq Scores

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

Liabilities / Assets

60th percentile

0.26x

Higher debt load relative to assets than 60% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

95th percentile

5.72x

Higher debt load relative to revenue than 95% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

10th percentile

-26%

Higher net margin than 10% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

23rd percentile

$41,538

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 18.4% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

34th percentile

-1.8%

Faster asset growth than 34% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

14th percentile

-18%

Faster revenue growth than 14% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets60th percentile

Assets

Down

$5,002,199

Down $91,847 (-1.8%) from 2017

Net Assets

Down

$3,707,164

Down $101,267 (-2.7%) from 2017

Liabilities

Up

$1,295,035

Up $9,420 (+0.7%) from 2017

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin10th percentile

Revenue

Down

$226,330

Down $48,481 (-18%) from 2017

Expenses

Down

$286,295

Down $47,294 (-14%) from 2017

Net Income

Down

-$59,965

Down $1,187 (-2.0%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $4,792,786Liabilities 2011: $1,206,509Net Assets 2011: $3,586,2772011Assets 2012: $4,765,399Liabilities 2012: $1,081,394Net Assets 2012: $3,684,0052012Assets 2013: $4,732,850Liabilities 2013: $971,225Net Assets 2013: $3,761,6252013Assets 2014: $4,482,438Liabilities 2014: $667,553Net Assets 2014: $3,814,8852014Assets 2015: $3,857,481Liabilities 2015: $24,564Net Assets 2015: $3,832,9172015Assets 2016: $5,010,422Liabilities 2016: $1,143,215Net Assets 2016: $3,867,2072016Assets 2017: $5,094,046Liabilities 2017: $1,285,615Net Assets 2017: $3,808,4312017Assets 2018: $5,002,199Liabilities 2018: $1,295,035Net Assets 2018: $3,707,1642018Assets 2019: $4,950,552Liabilities 2019: $1,285,261Net Assets 2019: $3,665,2912019Assets 2020: $4,594,665Liabilities 2020: $1,019,409Net Assets 2020: $3,575,2562020Assets 2021: $4,355,656Liabilities 2021: $823,751Net Assets 2021: $3,531,9052021Assets 2022: $4,410,039Liabilities 2022: $812,060Net Assets 2022: $3,597,9792022Assets 2023: $2,954,075Liabilities 2023: $5,119Net Assets 2023: $2,948,9562023Assets 2024: $2,668,699Liabilities 2024: $2,568Net Assets 2024: $2,666,1312024

Highlighted filing

2018

Assets$5,002,199
Liabilities$1,295,035
Net Assets$3,707,164
Open 2018 Filing

Operations Trend

Revenue Growth14th percentile

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

$500K$0-$500K-$1.0MRevenue 2011: $387,293Expenses 2011: $237,295Net Income 2011: $149,9982011Expenses 2012: $200,1102012Revenue 2013: $286,605Expenses 2013: $208,984Net Income 2013: $77,6212013Revenue 2014: $263,289Expenses 2014: $210,029Net Income 2014: $53,2602014Revenue 2015: $228,144Expenses 2015: $210,112Net Income 2015: $18,0322015Revenue 2016: $250,679Expenses 2016: $216,389Net Income 2016: $34,2902016Revenue 2017: $274,811Expenses 2017: $333,589Net Income 2017: -$58,7782017Revenue 2018: $226,330Expenses 2018: $286,295Net Income 2018: -$59,9652018Revenue 2019: $218,255Expenses 2019: $232,728Net Income 2019: -$14,4732019Revenue 2020: $210,366Expenses 2020: $247,216Net Income 2020: -$36,8502020Revenue 2021: $212,165Expenses 2021: $252,092Net Income 2021: -$39,9272021Revenue 2022: $34,046Expenses 2022: $24,200Net Income 2022: $9,8462022Revenue 2023: -$435,614Expenses 2023: $172,640Net Income 2023: -$608,2542023Revenue 2024: $205,622Expenses 2024: $182,630Net Income 2024: $22,9922024

Highlighted filing

2018

Revenue$226,330
Expenses$286,295
Net Income-$59,965
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$226,330
Mission and Program Overview

Mission

To provide expansion and location assistance to existing and new businesses in northeastern Oklahoma.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,004,434$1,993,883▼ $10,551
Accounts Receivable$1,824,724$1,809,749▼ $14,975
Savings and Temporary Cash Investments$1,215,867$1,188,687▼ $27,180
Cash and Non-Interest-Bearing Accounts$6,990$9,880▲ $2,890
Total Assets$5,052,015$5,002,199▼ $49,816
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,280,500$1,280,500→ $0
Accounts Payable and Accrued Expenses$7,368$14,535▲ $7,167
Total Liabilities$1,287,868$1,295,035▲ $7,167
Net Assets / Fund Balance
Unrestricted Net Assets$3,764,147$3,707,164▼ $56,983
Total Net Assets Fund Balance$3,764,147$3,707,164▼ $56,983
Total Liabilities and Net Assets / Fund Balance$5,052,015$5,002,199▼ $49,816

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,964,957$1,941$1,966,898
Equipment$7,155$45,667$52,822
Other Land Buildings$21,771$23,357$45,128
Compensation and Service Providers
Top Officer Pay23rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Steve GilbertPresident CEOFT$41,538$41,538

Board Members and Trustees

NameTitle
Rudy SchultzChair
Jeff BrownVice-Chair
Cheif John FromanMember
Chuck NealMember
Dean KruithofMember
Dr Jeff HaleMember
Eddie MunsonMember
Pat JurgensmeyerMember
Jason BlevinsSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$124,652
Program Service Revenue
$96,790
Investment Income
$4,738
Other Revenue
$150
All Other Contributions
$99,652
Change in Net Assets
$-59,965
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$178,347
Salaries, Compensation, and Employee Benefits$107,948
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$68,861-$68,861
Current Officers, Directors, Trustees, and Key Employees-$41,538-$41,538
Other Salaries and Wages-$35,500-$35,500
Other Employee Benefits-$26,274-$26,274
Interest-$21,190-$21,190
Insurance-$16,158-$16,158
Office Expenses-$12,285-$12,285
Depreciation Depletion-$10,551-$10,551
Fees for Services Accounting-$9,480-$9,480
Travel-$9,128-$9,128
Other Expenses$1,313$9,022-$9,022
Occupancy-$4,859-$4,859
Payroll Taxes-$4,636-$4,636
Advertising$93$3,625-$3,718
Fees for Services Legal$660--$660
Total Functional Expenses$2,066$284,229$0$286,295
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
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, Section B, Line 11A

“Tax return is reviewed by the president and board of directors of the Organization.”

Form 990, Part VI, Section B, Line 15B

“All compensation is reviewed and approved by the board of directors of the Organization.”

Filing and Contact Details

Filer

Filer Name
Miami Area Economic Development Service Inc
EIN
73-1263634
Phone
9185428405
Address
11 South Main Street, Miami, OK 74354-6309

Signing Officer

Name
Rudy Schultz
Title
Chairman
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rudy Schultz
Formed
1985
Legal Domicile
Ok
Voting Board Members
9
Independent Board Members
9
Employees
2

Preparer

Firm
Ober & Littlefield CPA's PLLC
Address
124 South Main St, Miami, OK 74354
Preparer
Christie Littlefield
Phone
9185424401
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

“Program Service Expenses 295, Grants and allocations 0, Revenue 0 Community Development Block Grant Loan Administration Fund”

Form 990, Part III, Line 4D

“Program Service Expenses 295, Grants and allocations 0, Revenue 0 Oklahoma Local Entrepreneur Assistance Program Administration Fund”

Form 990, Part III, Line 4D

“Program Service Expenses 295, Grants and allocations 0, Revenue 0 USDA Rural Development Fund”

Form 990, Part III, Line 4D

“Program Service Expenses 295, Grants and allocations 0, Revenue 0 Micro Loan Program Fund”

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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11293
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2650
IRS990/ProgSrvcAccomActy2Grp/Desc0Economic Development and Local Entrepeneur Loan Fund
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0295
IRS990/ProgSrvcAccomActy3Grp/Desc0Revolving Loan Administration Fund
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0295
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt010710
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01108
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt033696
IRS990/PYOtherRevenueAmt0252
IRS990/PYProgramServiceRevenueAmt019250
IRS990/PYRevenuesLessExpensesAmt0-44284
IRS990/PYSalariesCompEmpBnftPaidAmt041908
IRS990/PYTotalExpensesAmt075604
IRS990/PYTotalRevenueAmt031320
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-59965
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0150
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01215867
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01188687
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt099652
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt010710
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0122300
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0131090
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt071900
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0435652
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt04738
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01108
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt03565
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt014465
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt02861
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt026737
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0121940
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0113212
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0105124
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0152969
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0493245
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.45590
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportPY170Pct00.42110
IRS990ScheduleA/PublicSupportTotal170Amt0435652
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt099652
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt010710
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0122300
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0131090
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt071900
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0435652
IRS990ScheduleA/TotalSupportAmt0955634
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01964957
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01941
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01966898
IRS990ScheduleD/EquipmentGrp/BookValueAmt07155
IRS990ScheduleD/EquipmentGrp/DepreciationAmt045667
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt052822
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt021771
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt023357
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt045128
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01993883
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Program Service Expenses 295, Grants and allocations 0, Revenue 0 Community Development Block Grant Loan Administration Fund
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Program Service Expenses 295, Grants and allocations 0, Revenue 0 Oklahoma Local Entrepreneur Assistance Program Administration Fund
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Program Service Expenses 295, Grants and allocations 0, Revenue 0 USDA Rural Development Fund
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Program Service Expenses 295, Grants and allocations 0, Revenue 0 Micro Loan Program Fund
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Tax return is reviewed by the president and board of directors of the Organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5All compensation is reviewed and approved by the board of directors of the Organization.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 4d
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part III, Line 4d
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part III, Line 4d
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part III, Line 4d
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 11a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section B, Line 15b
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OK
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05052015
IRS990/TotalAssetsEOYAmt05002199
IRS990/TotalAssetsGrp/BOYAmt05052015
IRS990/TotalAssetsGrp/EOYAmt05002199
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0124652
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0284229
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02066
IRS990/TotalFunctionalExpensesGrp/TotalAmt0286295
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01287868
IRS990/TotalLiabilitiesEOYAmt01295035
IRS990/TotalLiabilitiesGrp/BOYAmt01287868
IRS990/TotalLiabilitiesGrp/EOYAmt01295035
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03764147
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03707164
IRS990/TotalOtherProgSrvcExpenseAmt01180
IRS990/TotalProgramServiceExpensesAmt02066
IRS990/TotalProgramServiceRevenueAmt096790
IRS990/TotalReportableCompFromOrgAmt041538
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0101528
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0226330
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05052015
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05002199
IRS990/TravelGrp/ManagementAndGeneralAmt09128
IRS990/TravelGrp/TotalAmt09128
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt03764147
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03707164
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt011 South Main Street

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,002,199
Liabilities
$1,295,035
Net assets
$3,707,164
Revenue
$226,330
Expenses
$286,295
Net income
-$59,965
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.67$0.00$2.67$0.21$0.18$0.02
2023Detailed filing. Detailed filing data is available for this year.$2.95$0.01$2.95$0.44$0.17$0.61
2022Detailed filing. Detailed filing data is available for this year.$4.41$0.81$3.60$0.03$0.02$0.01
2021Detailed filing. Detailed filing data is available for this year.$4.36$0.82$3.53$0.21$0.25$0.04
2020Detailed filing. Detailed filing data is available for this year.$4.59$1.02$3.58$0.21$0.25$0.04
2019Detailed filing. Detailed filing data is available for this year.$4.95$1.29$3.67$0.22$0.23$0.01
2018Detailed filing. Detailed filing data is available for this year.$5.00$1.30$3.71$0.23$0.29$0.06
2017Detailed filing. Detailed filing data is available for this year.$5.09$1.29$3.81$0.27$0.33$0.06
2016Summary only. Only limited summary data is available for this year.$5.01$1.14$3.87$0.25$0.22$0.03
2015Summary only. Only limited summary data is available for this year.$3.86$0.02$3.83$0.23$0.21$0.02
2014Summary only. Only limited summary data is available for this year.$4.48$0.67$3.81$0.26$0.21$0.05
2013Summary only. Only limited summary data is available for this year.$4.73$0.97$3.76$0.29$0.21$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.77$1.08$3.68$0.20
2011Summary only. Only limited summary data is available for this year.$4.79$1.21$3.59$0.39$0.24$0.15
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2018 filings • 501(c)3 • $5M-$10M nonprofits