Civic Intelligence

Norman Economic Development Coalition Inc

990 • Fiscal year 2015 • EIN 73-1503907

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 01, 2016

Organization ProfileN/A
710 Asp AveNorman, OK 73069

(405) 573-1900

Siviq Scores

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

Liabilities / Assets

87th percentile

0.67x

Higher debt load relative to assets than 87% of similar nonprofits.

2015 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

95th percentile

3.44x

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

2015 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2015

Net Margin

98th percentile

67%

Higher net margin than 98% of similar nonprofits.

2015 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

7th percentile

$0

Higher top officer pay than 7% of similar nonprofits.

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

2015 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2015

Asset Growth

91st percentile

26%

Faster asset growth than 91% of similar nonprofits.

2015 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

95th percentile

48%

Faster revenue growth than 95% of similar nonprofits.

2015 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$15,406,007

Up $3,165,707 (+26%) from 2014

Net Assets

Up

$5,031,908

Up $2,338,808 (+87%) from 2014

Liabilities

Up

$10,374,099

Up $826,899 (+8.7%) from 2014

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin98th percentile

Revenue

Up

$3,017,044

Up $980,504 (+48%) from 2014

Expenses

Down

$998,946

Down $22,298 (-2.2%) from 2014

Net Income

Up

$2,018,098

Up $1,002,802 (+99%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth91st 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

2015

Assets$15,406,007
Liabilities$10,374,099
Net Assets$5,031,908
Open 2015 Filing

Operations Trend

Revenue Growth95th 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

2015

Revenue$3,017,044
Expenses$998,946
Net Income$2,018,098
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 1, 2016
Return Version
2014v6.0
Gross Receipts
$3,092,194
Mission and Program Overview

Mission

Promotion of Economic Development

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,802,984$3,755,328▼ $47,656
Pledges and Grants Receivable$771,779--
Cash and Non-Interest-Bearing Accounts$127,135$181,899▲ $54,764
Other Notes and Loans Receivable, Net$148,298--
Accounts Receivable$4,775$34,384▲ $29,609
Prepaid Expenses and Deferred Charges$5,377$6,941▲ $1,564
Total Assets$12,240,300$15,406,007▲ $3,165,707
Other Assets Total$7,379,952$11,427,455▲ $4,047,503
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,352,522$10,256,992▲ $904,470
Escrow Account Liability$97,930--
Deferred Revenue$63,672$64,028▲ $356
Accounts Payable and Accrued Expenses$28,632$48,655▲ $20,023
Other Liabilities$4,444$4,424▼ $20
Total Liabilities$9,547,200$10,374,099▲ $826,899
Net Assets / Fund Balance
Unrestricted Net Assets$2,693,100$5,031,908▲ $2,338,808
Total Net Assets Fund Balance$2,693,100$5,031,908▲ $2,338,808
Total Liabilities and Net Assets / Fund Balance$12,240,300$15,406,007▲ $3,165,707

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,525,523$933,871-
Other Land Buildings$6,276--
Land$91,071--
Equipment$132,458--
Other Assets Org$800--
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Leslie Wiggins-christoperChairperson
Dan QuinnVice chairperson
Anil GollahalliCore Board Member
Jane BowenCore Board Member
John WoodsCore Board Member
Steve LewisCore Board Member
Daniel PullinMember at Large
Mike FowlerMember at Large
Steve CorleySecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,004,550
Program Service Revenue
$500,000
Investment Income
$117,636
Other Revenue
$394,858
All Other Contributions
$2,004,550
Change in Net Assets
$2,018,098

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,017,044
Revenue Not Reported on Form 990
$66,258
Total Revenue per Audited Statements
$3,083,302
Total Revenue per Form 990
$3,017,044
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$639,865
Salaries, Compensation, and Employee Benefits$359,081
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$0$359,081$0$359,081
Interest$309,048$0$0$309,048
Depreciation Depletion$107,320$10,473$0$117,793
Occupancy$0$18,847$0$18,847
Conferences and Meetings$5,956$0$0$5,956
Other Expenses$4,442$0$0$4,442
Total Functional Expenses$483,931$515,015$0$998,946

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,065,204
Expenses per Audited Statements$998,946
Total Expenses per Form 990$998,946
Expenses Not Reported on Form 990$66,258
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
Payroll Liabilities$4,424
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Norman Economic Development Coalition Inc
EIN
73-1503907
Phone
4055731900
Address
710 Asp Ave, Norman, OK 73069

Signing Officer

Name
Jason Smith
Title
Executive Director
Phone
4055731900
Signed
2016-02-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Wilson
Formed
1996
Legal Domicile
Ok
Voting Board Members
9
Independent Board Members
9
Employees
5
Volunteers
2

Preparer

Firm
Larry Pace & Co Pc
Address
1225 W MAIN ST 124, NORMAN, OK 73069
Preparer
Larry Pace
Phone
4053213026
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Form 900 is made available to the board members before the return is filed, otherwise, the Executive Director reviews it.”

Pt VI, Line 15A

“All compensation matters related to the Executive Director are evaluated and approved by the Board of Directors.”

Pt VI, Line 15B

“All compensation matters related to the employees are reviewed and approved by the Executive Director and Board of Directors.”

Pt XI

“An audit adjustment in the amount of $320,710 was made for”

Pt XI

“a prior year.”

Financial Statement Notes

Pt IV, Line 2B

“Funds held in escrow.”

Pt XI, Line 2D

“Rental expenses that offset rental income.”

Pt XII, Line 2D

“Rental expenses that offset rental income.”

Raw XML Appendix376 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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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt16340
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2750000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3800
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Land held for resale
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Cash Reserve
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Long-term notes receivable
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Trademark
IRS990ScheduleD/OtherExpensesIncludedAmt066258
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06276
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt06276
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04424
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payroll Liabilities
IRS990ScheduleD/OtherRevenueAmt066258
IRS990ScheduleD/RevenueNotReportedAmt066258
IRS990ScheduleD/RevenueSubtotalAmt03017044
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Funds held in escrow.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Rental expenses that offset rental income.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Rental expenses that offset rental income.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt IV, Line 2b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt XI, Line 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt XII, Line 2d
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03755328
IRS990ScheduleD/TotalBookValueOtherAssetsAmt011427455
IRS990ScheduleD/TotalExpensesPerForm990Amt0998946
IRS990ScheduleD/TotalLiabilityAmt04424
IRS990ScheduleD/TotalRevenuePerForm990Amt03017044
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03083302
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01065204
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 900 is made available to the board members before the return is filed, otherwise, the Executive Director reviews it.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All compensation matters related to the Executive Director are evaluated and approved by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All compensation matters related to the employees are reviewed and approved by the Executive Director and Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3An audit adjustment in the amount of $320,710 was made for
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4a prior year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt XI
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OK
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt012240300
IRS990/TotalAssetsEOYAmt015406007
IRS990/TotalAssetsGrp/BOYAmt012240300
IRS990/TotalAssetsGrp/EOYAmt015406007
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02004550
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0515015
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0483931
IRS990/TotalFunctionalExpensesGrp/TotalAmt0998946
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09547200
IRS990/TotalLiabilitiesEOYAmt010374099
IRS990/TotalLiabilitiesGrp/BOYAmt09547200
IRS990/TotalLiabilitiesGrp/EOYAmt010374099
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02693100
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05031908
IRS990/TotalProgramServiceExpensesAmt0483931
IRS990/TotalProgramServiceRevenueAmt0500000
IRS990/TotalRevenueGrp/ExclusionAmt077528
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0934966
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03017044
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012240300
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt015406007
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt02693100
IRS990/UnrestrictedNetAssetsGrp/EOYAmt05031908
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0710 Asp Ave
IRS990/USAddress/CityNm0Norman
IRS990/USAddress/StateAbbreviationCd0OK
IRS990/USAddress/ZIPCd073069
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JASON SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04055731900
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-02-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Norman Economic Development Coalition Inc
ReturnHeader/Filer/BusinessNameControlTxt0NORM
ReturnHeader/Filer/EIN0731503907
ReturnHeader/Filer/PhoneNum04055731900
ReturnHeader/Filer/USAddress/AddressLine1Txt0710 Asp Ave
ReturnHeader/Filer/USAddress/CityNm0Norman
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OK
ReturnHeader/Filer/USAddress/ZIPCd073069
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LARRY PACE & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01225 W MAIN ST 124
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORMAN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd073069
ReturnHeader/PreparerPersonGrp/PhoneNum04053213026
ReturnHeader/PreparerPersonGrp/PreparationDt02016-02-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LARRY PACE
ReturnHeader/ReturnTs02016-02-02T13:10:12-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,406,007
Liabilities
$10,374,099
Net assets
$5,031,908
Revenue
$3,017,044
Expenses
$998,946
Net income
$2,018,098
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