Civic Intelligence

Miami Area Economic Development Service Inc.

990 • Fiscal year 2023 • EIN 73-1263634

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

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

22nd percentile

0.00x

Higher debt load relative to assets than 22% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2023

Net Margin

100th percentile

140%

Higher net margin than 100% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

4th percentile

-33%

Faster asset growth than 4% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2022 to 2023

Assets

Down

$2,954,075

Down $1,455,964 (-33%) from 2022

Net Assets

Down

$2,948,956

Down $649,023 (-18%) from 2022

Liabilities

Down

$5,119

Down $806,941 (-99%) from 2022

Revenue

Down

-$435,614

Down $469,660 (-1379%) from 2022

Expenses

Up

$172,640

Up $148,440 (+613%) from 2022

Net Income

Down

-$608,254

Down $618,100 (-6278%) from 2022

Historical Trend

Balance Sheet Trend

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

2023

Assets$2,954,075
Liabilities$5,119
Net Assets$2,948,956

Operations Trend

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

2023

Revenue-$435,614
Expenses$172,640
Net Income-$608,254
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.0
Gross Receipts
$868,341
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$953,242$1,361,955▲ $408,713
Accounts Receivable$1,372,933$876,723▼ $496,210
Land, Buildings, and Equipment, Net$1,973,371$658,600▼ $1,314,771
Cash and Non-Interest-Bearing Accounts$110,378$56,682▼ $53,696
Total Assets$4,410,039$2,954,075▼ $1,455,964
Other Assets Total$115$115→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$812,060--
Accounts Payable and Accrued Expenses-$5,119-
Total Liabilities$812,060$5,119▼ $806,941
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,597,979$2,948,956▼ $649,023
Total Net Assets Fund Balance$3,597,979$2,948,956▼ $649,023
Total Liabilities and Net Assets / Fund Balance$4,410,039$2,954,075▼ $1,455,964

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$656,417$4,346-
Equipment$2,183$69,060-
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$107,950
Program Service Revenue
$43,811
Investment Income
$-596,795
Other Revenue
$9,420
All Other Contributions
$107,950
Change in Net Assets
$-608,254
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$93,232
Salaries, Compensation, and Employee Benefits$79,408
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$72,050-$72,050
Interest$23,422$16,251-$39,673
Fees for Services Legal-$15,488-$15,488
Insurance-$10,395-$10,395
Occupancy-$6,880-$6,880
Payroll Taxes-$5,102-$5,102
Fees for Services Accounting-$4,880-$4,880
Conferences and Meetings-$4,499-$4,499
Other Expenses-$3,075-$3,075
Office Expenses$182$2,690-$2,872
Information Technology-$2,695-$2,695
Pension Plan Contributions-$2,256-$2,256
Travel-$1,798-$1,798
Advertising-$977-$977
Total Functional Expenses$23,604$149,036$0$172,640
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
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, Page 6, Part VI, Line 11B

Tax return is reviewed by the president and board of directors of the organization.

Form 990, Page 6, Part VI, Line 15A

All compensation is reviewed by management officials.

Form 990, Page 6, Part VI, Line 15B

All compensation is reviewed and approved by the board of directors of the organization

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Miami Area Economic Development
EIN
73-1263634
Phone
9185428405
Address
11 SOUTH MAIN STREET, MIAMI, OK 74354-6309

Signing Officer

Name
Shannon Duhon
Title
Director
Phone
9185428405
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shannon Duhon
Formed
1985
Voting Board Members
15
Independent Board Members
15
Employees
1

Preparer

Firm
Ober & Littlefield Cpas
Address
124 S MAIN ST, MIAMI, OK 74354
Preparer
John D Ober
Phone
9185424401
Supplemental Narrative

Additional Explanations

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

Community development block grant loan administration fund, oklahoma local entrepreneur assistance program admistration fund, usda rural development fund, micro loan program fund

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IRS990/PensionPlanContributionsGrp/TotalAmt02256
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0SHANNON DUHON
IRS990/PriorPeriodAdjustmentsAmt0-40769
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522299
IRS990/ProgramServiceRevenueGrp/BusinessCd1812900
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1MISCELLANEOUS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt042876
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1935
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt042876
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1935
IRS990/ProgSrvcAccomActy2Grp/Desc0ECONOMIC DEVELOPMENT AND LOCAL ENTREPENEUR LOAN FUND
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0110
IRS990/ProgSrvcAccomActy3Grp/Desc0REVOLVING LOAN ADMINISTRATION FUND
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt050
IRS990/ProgSrvcAccomActyOtherGrp/Desc0COMMUNITY DEVELOPMENT BLOCK GRANT LOAN ADMINISTRATION FUND, OKLAHOMA LOCAL ENTREPRENEUR ASSISTANCE PROGRAM ADMISTRATION FUND, USDA RURAL DEVELOPMENT FUND, MICRO LOAN PROGRAM FUND
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt017869
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0252
IRS990/PYOtherExpensesAmt08057
IRS990/PYOtherRevenueAmt01551
IRS990/PYProgramServiceRevenueAmt014374
IRS990/PYRevenuesLessExpensesAmt09846
IRS990/PYSalariesCompEmpBnftPaidAmt016143
IRS990/PYTotalExpensesAmt024200
IRS990/PYTotalRevenueAmt034046
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-608254
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt09420
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0953242
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01361955
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0307,558
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0107950
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt017869
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt087433
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt068430
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0114892
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0396574
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt09420
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0252
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt02022
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt06585
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt08758
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt027037
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt068698
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt014374
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0100078
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt098501
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt094605
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0307558
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.54240
IRS990ScheduleA/PublicSupportPY170Pct00.46220
IRS990ScheduleA/PublicSupportTotal170Amt0396574
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0107950
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt017869
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt087433
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt068430
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0114892
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0396574
IRS990ScheduleA/TotalSupportAmt0731169
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0656417
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04346
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0660763
IRS990ScheduleD/EquipmentGrp/BookValueAmt02183
IRS990ScheduleD/EquipmentGrp/DepreciationAmt069060
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt071243
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0658600
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0COMMUNITY DEVELOPMENT BLOCK GRANT LOAN ADMINISTRATION FUND, OKLAHOMA LOCAL ENTREPRENEUR ASSISTANCE PROGRAM ADMISTRATION FUND, USDA RURAL DEVELOPMENT FUND, MICRO LOAN PROGRAM FUND
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TAX RETURN IS REVIEWED BY THE PRESIDENT AND BOARD OF DIRECTORS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL COMPENSATION IS REVIEWED BY MANAGEMENT OFFICIALS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS OF THE ORGANIZATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC
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 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04410039
IRS990/TotalAssetsEOYAmt02954075
IRS990/TotalAssetsGrp/BOYAmt04410039
IRS990/TotalAssetsGrp/EOYAmt02954075
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0107950
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0149036
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt023604
IRS990/TotalFunctionalExpensesGrp/TotalAmt0172640
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0812060
IRS990/TotalLiabilitiesEOYAmt05119
IRS990/TotalLiabilitiesGrp/BOYAmt0812060
IRS990/TotalLiabilitiesGrp/EOYAmt05119
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03597979
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02948956
IRS990/TotalProgramServiceExpensesAmt023604
IRS990/TotalProgramServiceRevenueAmt043811
IRS990/TotalRevenueGrp/ExclusionAmt09420
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-552984

Document Assets

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Filings

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