Civic Intelligence

Norman Economic Development Coalition Inc

990 • Fiscal year 2022 • EIN 73-1503907

Jul 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

Organization ProfileSELECTNORMAN.COM

View Organization Page

424 W Main StNorman, OK 73069

(405) 573-1900

Siviq Scores

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

Liabilities / Assets

9th percentile

0.01x

Higher debt load relative to assets than 9% of similar nonprofits.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

12th percentile

0.07x

Higher debt load relative to revenue than 12% of similar nonprofits.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2022

Net Margin

96th percentile

62%

Higher net margin than 96% of similar nonprofits.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

27th percentile

$259,066

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 20.1% of source-year revenue.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2022

Asset Growth

61st percentile

5.3%

Faster asset growth than 61% of similar nonprofits.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

3rd percentile

-63%

Faster revenue growth than 3% of similar nonprofits.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$11,149,889

Up $560,676 (+5.3%) from 2021

Net Assets

Up

$11,057,661

Up $554,849 (+5.3%) from 2021

Liabilities

Up

$92,228

Up $5,827 (+6.7%) from 2021

Revenue And Expenses
Liabilities / Revenue12th percentileNet Margin96th percentile

Revenue

Down

$1,287,549

Down $2,211,888 (-63%) from 2021

Expenses

Down

$484,684

Down $42,420 (-8.0%) from 2021

Net Income

Down

$802,865

Down $2,169,468 (-73%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$20M$15M$10M$5.0M$0Assets 2011: $9,231,895Liabilities 2011: $7,956,172Net Assets 2011: $1,275,7232011Assets 2012: $9,410,319Liabilities 2012: $7,952,089Net Assets 2012: $1,458,2302012Assets 2013: $9,146,999Liabilities 2013: $7,469,195Net Assets 2013: $1,677,8042013Assets 2014: $12,240,300Liabilities 2014: $9,547,200Net Assets 2014: $2,693,1002014Assets 2015: $15,406,007Liabilities 2015: $10,374,099Net Assets 2015: $5,031,9082015Assets 2016: $15,757,554Liabilities 2016: $10,990,493Net Assets 2016: $4,767,0612016Assets 2017: $16,118,409Liabilities 2017: $8,761,431Net Assets 2017: $7,356,9782017Assets 2018: $15,859,023Liabilities 2018: $8,862,762Net Assets 2018: $6,996,2612018Assets 2019: $13,079,947Liabilities 2019: $5,489,872Net Assets 2019: $7,590,0752019Assets 2020: $12,387,468Liabilities 2020: $4,825,739Net Assets 2020: $7,561,7292020Assets 2021: $10,589,213Liabilities 2021: $86,401Net Assets 2021: $10,502,8122021Assets 2022: $11,149,889Liabilities 2022: $92,228Net Assets 2022: $11,057,6612022Assets 2023: $11,594,377Liabilities 2023: $97,889Net Assets 2023: $11,496,4882023Assets 2024: $11,978,903Liabilities 2024: $291,735Net Assets 2024: $11,687,1682024

Highlighted filing

2022

Assets$11,149,889
Liabilities$92,228
Net Assets$11,057,661
Open 2022 Filing

Operations Trend

Revenue Growth3rd percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,161,801Expenses 2011: $1,052,893Net Income 2011: $108,9082011Expenses 2012: $1,045,9772012Expenses 2013: $936,3572013Revenue 2014: $2,036,540Expenses 2014: $1,021,244Net Income 2014: $1,015,2962014Revenue 2015: $3,017,044Expenses 2015: $998,946Net Income 2015: $2,018,0982015Revenue 2016: $873,318Expenses 2016: $1,138,165Net Income 2016: -$264,8472016Revenue 2017: $3,513,492Expenses 2017: $923,575Net Income 2017: $2,589,9172017Revenue 2018: $897,959Expenses 2018: $1,258,676Net Income 2018: -$360,7172018Revenue 2019: $1,497,347Expenses 2019: $903,533Net Income 2019: $593,8142019Revenue 2020: $688,157Expenses 2020: $716,503Net Income 2020: -$28,3462020Revenue 2021: $3,499,437Expenses 2021: $527,104Net Income 2021: $2,972,3332021Revenue 2022: $1,287,549Expenses 2022: $484,684Net Income 2022: $802,8652022Revenue 2023: $1,649,929Expenses 2023: $1,211,102Net Income 2023: $438,8272023Revenue 2024: $1,464,453Expenses 2024: $1,273,773Net Income 2024: $190,6802024

Highlighted filing

2022

Revenue$1,287,549
Expenses$484,684
Net Income$802,865
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$1,291,529
Mission and Program Overview

Mission

Promotion of Economic Development

Improving the quality of life of norman residents through the creation and retention of jobs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,800,043$2,756,900▼ $43,143
Savings and Temporary Cash Investments$2,470,341$1,543,776▼ $926,565
Cash and Non-Interest-Bearing Accounts$145,692$1,013,427▲ $867,735
Accounts Receivable-$62,750-
Prepaid Expenses and Deferred Charges$6,839$1,845▼ $4,994
Total Assets$10,350,923$11,149,889▲ $798,966
Other Assets Total$4,928,008$5,771,191▲ $843,183
Liabilities
Deferred Revenue$73,747$62,500▼ $11,247
Accounts Payable and Accrued Expenses$22,380$29,728▲ $7,348
Total Liabilities$96,127$92,228▼ $3,899
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,254,796$11,057,661▲ $802,865
Total Net Assets Fund Balance$10,254,796$11,057,661▲ $802,865
Total Liabilities and Net Assets / Fund Balance$10,350,923$11,149,889▲ $798,966

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,244,453$59,647$2,304,100
Other Land Buildings$236,983$78,159$315,142
Land$163,207-$163,207
Equipment$112,257$16,870$129,127
Other Assets Org$1,820--
Compensation and Service Providers
Top Officer Pay27th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lawrence MckinneyPresident/ceFT$249,166$9,900$259,066
Lawrence MckinneyPresident/CEO-$215,000$44,066$259,066

Board Members and Trustees

NameTitle
Patrick GraceChairperson
David NimmoVice Chairma
Brian HolderreadCore Board M
Brian RuttmanCore Board M
Darrel PyleCore Board M
Rod ClevelandCore Board M
Scott MartinCore Board M
Casey VinyardMember at La
Jim AdairMember at La
Chuck ThompsonSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$1,011,547
Program Service Revenue
$187,500
Investment Income
$13,494
Other Revenue
$75,008
All Other Contributions
$11,547
Change in Net Assets
$802,865
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$263,449
Salaries, Compensation, and Employee Benefits$221,235
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---$109,166
Other Salaries and Wages---$82,416
Occupancy---$55,041
Depreciation Depletion---$42,747
Conferences and Meetings---$28,027
Advertising---$19,570
All Other Expenses---$16,225
Other Employee Benefits---$16,150
Fees for Services Accounting---$15,960
Information Technology---$13,587
Office Expenses---$11,976
Travel---$9,638
Insurance---$8,341
Payroll Taxes---$8,028
Fees for Services Legal---$7,018
Pension Plan Contributions---$5,475
Other Expenses---$4,660
Total Functional Expenses$0$0$0$484,684
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$25,397
Fundraising Direct Expenses$3,583
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Sooner Centurio$25,397$25,397$3,583$21,814
Total Events$25,397$25,397$3,583$21,814
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
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

“The president reviews the 990 prior to filing. In addition, the 990 is made available to the board members for their review prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Members who have an identifiable conflict of interest recuse themselves and leave the room when discussions related to the conflict take place.”

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

“All compensation matters related to the president are evaluated and approved by the board of directors.”

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

“All compensation matters related to employees are reviewed and approved by the president & ceo.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are not made available to the public.”

Filing and Contact Details

Filer

Filer Name
Norman Economic Development Coaliti
EIN
73-1503907
Phone
4055731900
Address
424 W MAIN ST, NORMAN, OK 73069

Signing Officer

Name
Lawrence Mckinney
Title
President/CEO
Phone
4055731900
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lawrence Mckinney
Formed
1996
Legal Domicile
Ok
Voting Board Members
10
Independent Board Members
10
Employees
4
Volunteers
10

Preparer

Firm
Gray Blodgett & Company Pllc
Address
629 24TH AVE SW, NORMAN, OK 73069-3912
Preparer
C Janese Shepard
Phone
4053605533
Raw XML Appendix399 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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IRS990/PYRevenuesLessExpensesAmt0-248016
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleD/BuildingsGrp/BookValueAmt02244453
IRS990ScheduleD/BuildingsGrp/DepreciationAmt059647
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02304100
IRS990ScheduleD/EquipmentGrp/BookValueAmt0112257
IRS990ScheduleD/EquipmentGrp/DepreciationAmt016870
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0129127
IRS990ScheduleD/LandGrp/BookValueAmt0163207
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0163207
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt05764371
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt15000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt21820
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LAND HELD FOR RESALE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1EARNEST DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DEPOSITS
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt078159
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0315142
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02756900
IRS990ScheduleD/TotalBookValueOtherAssetsAmt05771191
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IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0215000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount034166
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt09900
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LAWRENCE MCKINNEY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0259066
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PRESIDENT REVIEWS THE 990 PRIOR TO FILING. IN ADDITION, THE 990 IS MADE AVAILABLE TO THE BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS WHO HAVE AN IDENTIFIABLE CONFLICT OF INTEREST RECUSE THEMSELVES AND LEAVE THE ROOM WHEN DISCUSSIONS RELATED TO THE CONFLICT TAKE PLACE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL COMPENSATION MATTERS RELATED TO THE PRESIDENT ARE EVALUATED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL COMPENSATION MATTERS RELATED TO EMPLOYEES ARE REVIEWED AND APPROVED BY THE PRESIDENT & CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
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
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OK
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt010350923
IRS990/TotalAssetsEOYAmt011149889
IRS990/TotalAssetsGrp/BOYAmt010350923
IRS990/TotalAssetsGrp/EOYAmt011149889
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt01011547
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0484684
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt096127
IRS990/TotalLiabilitiesEOYAmt092228
IRS990/TotalLiabilitiesGrp/BOYAmt096127
IRS990/TotalLiabilitiesGrp/EOYAmt092228
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011057661
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IRS990/TotalProgramServiceRevenueAmt0187500
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01287549
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010350923
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011149889
IRS990/TravelGrp/TotalAmt09638
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0NORMAN
IRS990/USAddress/StateAbbreviationCd0OK
IRS990/USAddress/ZIPCd073069
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0SELECTNORMAN.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LAWRENCE MCKINNEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum04055731900
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NORMAN ECONOMIC DEVELOPMENT COALITI
ReturnHeader/Filer/BusinessNameControlTxt0NORM
ReturnHeader/Filer/EIN0731503907
ReturnHeader/Filer/PhoneNum04055731900
ReturnHeader/Filer/USAddress/AddressLine1Txt0424 W MAIN ST
ReturnHeader/Filer/USAddress/CityNm0NORMAN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OK
ReturnHeader/Filer/USAddress/ZIPCd073069
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0731352810
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GRAY BLODGETT & COMPANY PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0629 24TH AVE SW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORMAN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0730693912
ReturnHeader/PreparerPersonGrp/PhoneNum04053605533
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0C JANESE SHEPARD
ReturnHeader/ReturnTs02023-11-15T16:07:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LAWRENCE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MCKINNEY
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$11,149,889
Liabilities
$92,228
Net assets
$11,057,661
Revenue
$1,287,549
Expenses
$484,684
Net income
$802,865
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.0$0.29$11.7$1.46$1.27$0.19
2023Detailed filing. Detailed filing data is available for this year.$11.6$0.10$11.5$1.65$1.21$0.44
2022Detailed filing. Detailed filing data is available for this year.$11.1$0.09$11.1$1.29$0.48$0.80
2021Detailed filing. Detailed filing data is available for this year.$10.6$0.09$10.5$3.50$0.53$2.97
2020Detailed filing. Detailed filing data is available for this year.$12.4$4.83$7.56$0.69$0.72$0.03
2019Detailed filing. Detailed filing data is available for this year.$13.1$5.49$7.59$1.50$0.90$0.59
2018Detailed filing. Detailed filing data is available for this year.$15.9$8.86$7.00$0.90$1.26$0.36
2017Detailed filing. Detailed filing data is available for this year.$16.1$8.76$7.36$3.51$0.92$2.59
2016Detailed filing. Detailed filing data is available for this year.$15.8$11.0$4.77$0.87$1.14$0.26
2015Detailed filing. Detailed filing data is available for this year.$15.4$10.4$5.03$3.02$1.00$2.02
2014Detailed filing. Detailed filing data is available for this year.$12.2$9.55$2.69$2.04$1.02$1.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.15$7.47$1.68$0.94
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.41$7.95$1.46$1.05
2011Summary only. Only limited summary data is available for this year.$9.23$7.96$1.28$1.16$1.05$0.11