Civic Intelligence

Arkansas Economic Development Foundation

990 • Fiscal year 2015 • EIN 74-2390527

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 23, 2016

Organization ProfileN/A
PO Box 1784Little Rock, AR 72203

(501) 682-7354

Siviq Scores

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

Liabilities / Assets

48th percentile

0.07x

Higher debt load relative to assets than 48% of similar nonprofits.

2015 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

49th percentile

0.07x

Higher debt load relative to revenue than 49% of similar nonprofits.

2015 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2015

Net Margin

96th percentile

36%

Higher net margin than 96% of similar nonprofits.

2015 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2015 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2015

Asset Growth

96th percentile

79%

Faster asset growth than 96% of similar nonprofits.

2015 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

97th percentile

78%

Faster revenue growth than 97% of similar nonprofits.

2015 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets48th percentile

Assets

Up

$502,300

Up $222,450 (+79%) from 2014

Net Assets

Up

$464,922

Up $199,174 (+75%) from 2014

Liabilities

Up

$37,378

Up $23,276 (+165%) from 2014

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin96th percentile

Revenue

Up

$553,493

Up $242,885 (+78%) from 2014

Expenses

Up

$354,319

Up $128,129 (+57%) from 2014

Net Income

Up

$199,174

Up $114,756 (+136%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$1.0M$500K$0Assets 2011: $313,331Liabilities 2011: $82,911Net Assets 2011: $230,4202011Assets 2012: $178,981Liabilities 2012: $69,960Net Assets 2012: $109,0212012Assets 2013: $199,871Liabilities 2013: $18,541Net Assets 2013: $181,3302013Assets 2014: $279,850Liabilities 2014: $14,102Net Assets 2014: $265,7482014Assets 2015: $502,300Liabilities 2015: $37,378Net Assets 2015: $464,9222015Assets 2016: $305,528Liabilities 2016: $31,109Net Assets 2016: $274,4192016Assets 2017: $541,801Liabilities 2017: $24,925Net Assets 2017: $516,8762017Assets 2018: $578,810Liabilities 2018: $18,405Net Assets 2018: $560,4052018Assets 2019: $730,761Liabilities 2019: $11,421Net Assets 2019: $719,3402019Assets 2020: $973,405Liabilities 2020: $47,909Net Assets 2020: $925,4962020Assets 2021: $752,051Liabilities 2021: $39,605Net Assets 2021: $712,4462021Assets 2022: $827,243Liabilities 2022: $30,622Net Assets 2022: $796,6212022Assets 2023: $960,795Liabilities 2023: $20,904Net Assets 2023: $939,8912023Assets 2024: $749,825Liabilities 2024: $10,391Net Assets 2024: $739,4342024

Highlighted filing

2015

Assets$502,300
Liabilities$37,378
Net Assets$464,922
Open 2015 Filing

Operations Trend

Revenue Growth97th percentile

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

$600K$400K$200K$0-$200K-$400KExpenses 2011: $114,7172011Expenses 2012: $225,6802012Revenue 2013: $238,731Expenses 2013: $166,422Net Income 2013: $72,3092013Revenue 2014: $310,608Expenses 2014: $226,190Net Income 2014: $84,4182014Revenue 2015: $553,493Expenses 2015: $354,319Net Income 2015: $199,1742015Revenue 2016: $61,854Expenses 2016: $252,357Net Income 2016: -$190,5032016Revenue 2017: $452,044Expenses 2017: $209,587Net Income 2017: $242,4572017Revenue 2018: $193,386Expenses 2018: $149,857Net Income 2018: $43,5292018Revenue 2019: $473,755Expenses 2019: $317,210Net Income 2019: $156,5452019Revenue 2020: $368,519Expenses 2020: $162,363Net Income 2020: $206,1562020Revenue 2021: $57,302Expenses 2021: $270,352Net Income 2021: -$213,0502021Revenue 2022: $403,205Expenses 2022: $319,030Net Income 2022: $84,1752022Revenue 2023: $401,488Expenses 2023: $258,218Net Income 2023: $143,2702023Revenue 2024: $153,118Expenses 2024: $353,431Net Income 2024: -$200,3132024

Highlighted filing

2015

Revenue$553,493
Expenses$354,319
Net Income$199,174
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 23, 2016
Return Version
2015v2.1
Gross Receipts
$553,493
Mission and Program Overview

Mission

Supplement appropriations by the state legislature for development of the state's resources and attracting new businesses to the state of arkansas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$207,045$409,207▲ $202,162
Savings and Temporary Cash Investments$57,437$57,443▲ $6
Land, Buildings, and Equipment, Net$12,947$33,229▲ $20,282
Prepaid Expenses and Deferred Charges$2,421$2,421→ $0
Total Assets$279,850$502,300▲ $222,450
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,920$36,694▲ $22,774
Accounts Payable and Accrued Expenses$182$684▲ $502
Total Liabilities$14,102$37,378▲ $23,276
Net Assets / Fund Balance
Unrestricted Net Assets$265,748$464,922▲ $199,174
Total Net Assets Fund Balance$265,748$464,922▲ $199,174
Total Liabilities and Net Assets / Fund Balance$279,850$502,300▲ $222,450

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$33,229$4,388$37,617
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Gus VratsinasPresident
Frank ThomasVice-president
Archie Schaffer IiiBoard Member
Chris G NeeleyBoard Member
Joe BaileyBoard Member
Lang ZimmermanBoard Member
Mark YoungBoard Member
Mike AkinBoard Member
Nick InfanteBoard Member
Niel CrowsonBoard Member
Steve LuelfBoard Member
Mike PrestonDirector, Aedc
Sharon TrustySecretary
Tom SchueckTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$553,354
Program Service Revenue
$0
Investment Income
$139
Other Revenue
$0
All Other Contributions
$553,354
Change in Net Assets
$199,174

Audited Revenue Reconciliation

Revenue per Audited Statements
$553,493
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$553,493
Total Revenue per Form 990
$553,493
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$317,019
Grants and Similar Amounts Paid$37,300
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$116,986--$116,986
Travel$54,630--$54,630
Grants to Domestic Orgs$37,300--$37,300
Office Expenses-$27,206-$27,206
Fees for Services Other-$14,900-$14,900
Depreciation Depletion-$6,350-$6,350
Interest-$1,969-$1,969
Other Expenses$26,568$1,360-$1,360
All Other Expenses$174--$174
Total Functional Expenses$294,259$60,060$0$354,319

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$354,319
Total Expenses per Audited Statements$354,319
Total Expenses per Form 990$354,319
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Arkansas Industrial & Economic Development Foundation IncLittle Rock, AR501(c)(3)To Assist in Search for a New Aedc Director - Phase I and Phase Ii.$37,300
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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, Part VI, Section B, Line 11

“The organization provides a copy of the form 990 to its governing body via email prior to filing the form.”

Form 990, Part VI, Section C, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Arkansas Economic Development Foundation
EIN
74-2390527
Phone
5016827354
Address
PO BOX 1784, LITTLE ROCK, AR 72203

Signing Officer

Name
Gus Vratsinas
Title
President
Phone
5013760017
Signed
2016-08-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gus Vratsinas
Formed
1955
Legal Domicile
Ar
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
0

Preparer

Firm
Hudson Cisne & Co Llp
Address
11025 ANDERSON DRIVE STE 300, LITTLE ROCK, AR 72212
Preparer
Rami Kassissieh
Phone
5012211000
Supplemental Narrative

Financial Statement Notes

Sch. D, Part X

“The foundation will recognize accrued interest and penalties, if any, associated with uncertain positions as part of management and general expenses.”

Raw XML Appendix392 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/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR, AEDC
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/OnlyInHouseLobbyingInd01
IRS990ScheduleC/SubstantiallyAllDuesNondedInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0354319
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt033229
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04388
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt037617
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0553493
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION WILL RECOGNIZE ACCRUED INTEREST AND PENALTIES, IF ANY, ASSOCIATED WITH UNCERTAIN POSITIONS AS PART OF MANAGEMENT AND GENERAL EXPENSES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCH. D, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt033229
IRS990ScheduleD/TotalExpensesPerForm990Amt0354319
IRS990ScheduleD/TotalRevenuePerForm990Amt0553493
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0553493
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0354319
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt037300
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO ASSIST IN SEARCH FOR A NEW AEDC DIRECTOR - PHASE I AND PHASE II.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ARKANSAS INDUSTRIAL & ECONOMIC DEVELOPMENT FOUNDATION INC
IRS990ScheduleI/RecipientTable/RecipientEIN0272775803
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02200 NORTH RODNEY PARHAM SUITE 206
IRS990ScheduleI/RecipientTable/USAddress/CityNm0LITTLE ROCK
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0AR
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd072212
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAVE COMMON BOARD MEMBERS WITH THE ORGANIZATION THAT IT ASSISTIS AND IS INVOLVED IN THE OVERALL SELECTION CRITERIA USED TO AWARD THE GRANTS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PROVIDES A COPY OF THE FORM 990 TO ITS GOVERNING BODY VIA EMAIL PRIOR TO FILING THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0AR
IRS990/SubjectToProxyTaxInd01
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0279850
IRS990/TotalAssetsEOYAmt0502300
IRS990/TotalAssetsGrp/BOYAmt0279850
IRS990/TotalAssetsGrp/EOYAmt0502300
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0553354
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt060060
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0294259
IRS990/TotalFunctionalExpensesGrp/TotalAmt0354319
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014102
IRS990/TotalLiabilitiesEOYAmt037378
IRS990/TotalLiabilitiesGrp/BOYAmt014102
IRS990/TotalLiabilitiesGrp/EOYAmt037378
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0265748
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0464922
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0294259
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0139
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0553493
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0279850
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0502300
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt054630
IRS990/TravelGrp/TotalAmt054630
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0265748
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0464922
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1784
IRS990/USAddress/CityNm0LITTLE ROCK
IRS990/USAddress/StateAbbreviationCd0AR
IRS990/USAddress/ZIPCd072203
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0GUS VRATSINAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05013760017
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-08-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ARKANSAS ECONOMIC DEVELOPMENT FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0ARKA
ReturnHeader/Filer/EIN0742390527
ReturnHeader/Filer/PhoneNum05016827354
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1784
ReturnHeader/Filer/USAddress/CityNm0LITTLE ROCK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd072203
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0710650689
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HUDSON CISNE & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt011025 ANDERSON DRIVE STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LITTLE ROCK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd072212
ReturnHeader/PreparerPersonGrp/PhoneNum05012211000
ReturnHeader/PreparerPersonGrp/PreparationDt02016-08-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RAMI KASSISSIEH
ReturnHeader/ReturnTs02016-09-01T13:56:40-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$502,300
Liabilities
$37,378
Net assets
$464,922
Revenue
$553,493
Expenses
$354,319
Net income
$199,174
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.50$0.10$7.39$1.53$3.53$2.00
2023Detailed filing. Detailed filing data is available for this year.$9.61$0.21$9.40$4.01$2.58$1.43
2022Detailed filing. Detailed filing data is available for this year.$8.27$0.31$7.97$4.03$3.19$0.84
2021Detailed filing. Detailed filing data is available for this year.$7.52$0.40$7.12$0.57$2.70$2.13
2020Detailed filing. Detailed filing data is available for this year.$9.73$0.48$9.25$3.69$1.62$2.06
2019Detailed filing. Detailed filing data is available for this year.$7.31$0.11$7.19$4.74$3.17$1.57
2018Detailed filing. Detailed filing data is available for this year.$5.79$0.18$5.60$1.93$1.50$0.44
2017Detailed filing. Detailed filing data is available for this year.$5.42$0.25$5.17$4.52$2.10$2.42
2016Detailed filing. Detailed filing data is available for this year.$3.06$0.31$2.74$0.62$2.52$1.91
2015Detailed filing. Detailed filing data is available for this year.$5.02$0.37$4.65$5.53$3.54$1.99
2014Detailed filing. Detailed filing data is available for this year.$2.80$0.14$2.66$3.11$2.26$0.84
2013Detailed filing. Detailed filing data is available for this year.$2.00$0.19$1.81$2.39$1.66$0.72
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.79$0.70$1.09$2.26
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.13$0.83$2.30$1.15