Liabilities / Assets
73rd percentile
Higher debt load relative to assets than 73% of similar nonprofits.
Arkansas Economic Development Foundation
990EZ • Fiscal year 2016 • EIN 74-2390527
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.10x
Liabilities / Revenue
94th percentile
Higher debt load relative to revenue than 94% of similar nonprofits.
Net Margin
1st percentile
Higher net margin than 1% of similar nonprofits.
Top Officer Pay
69th percentile
Higher top officer pay than 69% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
8th percentile
Faster asset growth than 8% of similar nonprofits.
Revenue Growth
1st percentile
Faster revenue growth than 1% of similar nonprofits.
Balance Sheet
Assets
Down$305,528
Down $196,772 (-39%) from 2015
Net Assets
Down$274,419
Down $190,503 (-41%) from 2015
Liabilities
Down$31,109
Down $6,269 (-17%) from 2015
Revenue And Expenses
Revenue
Down$61,854
Down $491,639 (-89%) from 2015
Expenses
Down$252,357
Down $101,962 (-29%) from 2015
Net Income
Down-$190,503
Down $389,677 (-196%) from 2015
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2016 to Dec 31, 2016
- Signed
- Nov 2, 2017
- Return Version
- 2016v3.0
- Gross Receipts
- $61,854
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.
Program Services
| Description | Grants | Expenses |
|---|---|---|
| ORGANIZED SEVERAL EVENTS TO ATTRACT PROSPECTIVE BUSINESSES, AND PROMOTE ECONOMIC DEVELOPMENT IN ARKANSAS. | - | $131,093 |
| MADE CONTRIBUTIONS TO ORGANIZATION THAT WORK TO ATTRACT PROSPECTIVE BUSINESSES, AND PROMOTE ECONOMIC DEVELOPMENT IN ARKANSAS. | - | $50,000 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| GUS VRATSINAS | President | - | $0 | - | - |
| FRANK THOMAS | Vice-Preside | - | $0 | - | - |
| SHARON TRUSTY | Secretary | - | $0 | - | - |
| TOM SCHUECK | Treasurer | - | $0 | - | - |
| MIKE AKIN | Board Member | - | $0 | - | - |
| NIEL CROWSON | Board Member | - | $0 | - | - |
| MARK YOUNG | Board Member | - | $0 | - | - |
| STEVE LUELF | Board Member | - | $0 | - | - |
| ARCHIE SCHAFFER III | Board Member | - | $0 | - | - |
| MICHAEL LINDSEY | Board Member | - | $0 | - | - |
| JOE BAILEY | Board Member | - | $0 | - | - |
| LEE WEBB | Board Member | - | $0 | - | - |
Political and Lobbying Activity
- In-house lobbying only
- Yes
Filing and Contact Details
Filer
- Filer Name
- Arkansas Economic Development
- EIN
- 74-2390527
- Phone
- 5016827354
- Address
- PO BOX 1784, LITTLE ROCK, AR 72203
Signing Officer
- Name
- Gus Vratsinas
- Title
- President
- Phone
- 5016827354
- Signed
- 2017-11-02
Preparer
- Firm
- Hudson Cisne & Co Llp
- Address
- 11025 ANDERSON DR STE 300, LITTLE ROCK, AR 72212-2472
- Preparer
- Rami Kassissieh
- Phone
- 5012211000
Supplemental Narrative
Additional Explanations
Form 990-ez, Part I, Line 16
“Expenses advertising expenses 44,591 office supplies 8,303 travel expenses 50,617 interest expense 2,354 entertainment - prospects 11,321 prospect meals 24,564 auto expenses 9,049 miscellaneous 1,955 contributions 50,000 non-investment depreciation 7,523 total 210,277”
Form 990-ez, Part II, Line 24
“Prepaid expenses and deferred charges 2,421 2,421 equipment 37,617 37,617 less accumulated depreciation 4,388 11,911 total 35,650 28,127”
Form 990-ez, Part II, Line 26
“Accounts payable and accrued expenses 684 97 mortgage and other notes payable 36,694 31,012”
Form 990-ez, Part III
“Supplement appropriations by the state legislature for development of the state's resources and attracting new businesses to the state of arkansas.”
Form 990-ez, Part III, Line 31
“Made contributions to organization that work to attract prospective businesses, and promote economic development in arkansas.”
Raw XML Appendix155 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.
| Path | # | Value |
|---|---|---|
| IRS990EZ/ActivitiesNotPreviouslyRptInd | 0 | false |
| IRS990EZ/BooksInCareOfDetail/PersonNm | 0 | BEN RUGG |
| IRS990EZ/BooksInCareOfDetail/PhoneNum | 0 | 5016645434 |
| IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 1501 N UNIVERSITY DR STE 245 |
| IRS990EZ/BooksInCareOfDetail/USAddress/CityNm | 0 | LITTLE ROCK |
| IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | AR |
| IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 72207 |
| IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt | 0 | 466650 |
| IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt | 0 | 277401 |
| IRS990EZ/ChgMadeToOrgnzngDocNotRptInd | 0 | false |
| IRS990EZ/ContributionsGiftsGrantsEtcAmt | 0 | 61739 |
| IRS990EZ/DonorAdvisedFndsInd | 0 | false |
| IRS990EZ/ExcessOrDeficitForYearAmt | 0 | -190503 |
| IRS990EZ/FeesAndOtherPymtToIndCntrctAmt | 0 | 42080 |
| IRS990EZ/ForeignFinancialAccountInd | 0 | false |
| IRS990EZ/ForeignOfficeInd | 0 | false |
| IRS990EZ/Form1120PolFiledInd | 0 | false |
| IRS990EZ/Form990TotalAssetsGrp/BOYAmt | 0 | 502300 |
| IRS990EZ/Form990TotalAssetsGrp/EOYAmt | 0 | 305528 |
| IRS990EZ/GrossReceiptsAmt | 0 | 61854 |
| IRS990EZ/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990EZ/InfoInScheduleOPartIIInd | 0 | X |
| IRS990EZ/InfoInScheduleOPartIInd | 0 | X |
| IRS990EZ/InvestmentIncomeAmt | 0 | 115 |
| IRS990EZ/MadeLoansToFromOfficersInd | 0 | false |
| IRS990EZ/MethodOfAccountingAccrualInd | 0 | X |
| IRS990EZ/NetAssetsOrFundBalancesBOYAmt | 0 | 464922 |
| IRS990EZ/NetAssetsOrFundBalancesEOYAmt | 0 | 274419 |
| IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt | 0 | 464922 |
| IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt | 0 | 274419 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 0 | 000.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 1 | 000.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 2 | 000.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 3 | 000.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 4 | 000.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 5 | 000.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 6 | 000.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 7 | 000.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 8 | 000.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 9 | 000.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 10 | 000.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 11 | 000.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 0 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 1 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 2 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 3 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 4 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 5 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 6 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 7 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 8 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 9 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 10 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 11 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 0 | GUS VRATSINAS |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 1 | FRANK THOMAS |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 2 | SHARON TRUSTY |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 3 | TOM SCHUECK |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 4 | MIKE AKIN |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 5 | NIEL CROWSON |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 6 | MARK YOUNG |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 7 | STEVE LUELF |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 8 | ARCHIE SCHAFFER III |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 9 | MICHAEL LINDSEY |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 10 | JOE BAILEY |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 11 | LEE WEBB |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 0 | PRESIDENT |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 1 | VICE-PRESIDE |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 2 | SECRETARY |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 3 | TREASURER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 4 | BOARD MEMBER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 5 | BOARD MEMBER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 6 | BOARD MEMBER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 7 | BOARD MEMBER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 8 | BOARD MEMBER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 9 | BOARD MEMBER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 10 | BOARD MEMBER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 11 | BOARD MEMBER |
| IRS990EZ/OperateHospitalInd | 0 | false |
| IRS990EZ/Organization501cInd | 0 | X |
| IRS990EZ/OrganizationDissolvedEtcInd | 0 | false |
| IRS990EZ/OrganizationHadUBIInd | 0 | false |
| IRS990EZ/OtherAssetsTotalDetail/BOYAmt | 0 | 35650 |
| IRS990EZ/OtherAssetsTotalDetail/EOYAmt | 0 | 28127 |
| IRS990EZ/OtherExpensesTotalAmt | 0 | 210277 |
| IRS990EZ/PoliticalCampaignActyInd | 0 | false |
| IRS990EZ/PrimaryExemptPurposeTxt | 0 | SUPPLEMENT APPROPRIATIONS BY THE STATE LEGISLATURE FOR DEVELOPMENT OF THE STATE'S RESOURCES AND ATTRACTING NEW BUSINESSES TO THE STATE OF ARKANSAS. |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 0 | ORGANIZED SEVERAL EVENTS TO ATTRACT PROSPECTIVE BUSINESSES, AND PROMOTE ECONOMIC DEVELOPMENT IN ARKANSAS. |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 1 | MADE CONTRIBUTIONS TO ORGANIZATION THAT WORK TO ATTRACT PROSPECTIVE BUSINESSES, AND PROMOTE ECONOMIC DEVELOPMENT IN ARKANSAS. |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt | 0 | 131093 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt | 1 | 50000 |
| IRS990EZ/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990EZ/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990EZ/StatesWhereCopyOfReturnIsFldCd | 0 | AR |
| IRS990EZ/SubjectToProxyTaxInd | 0 | true |
| IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt | 0 | 37378 |
| IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt | 0 | 31109 |
| IRS990EZ/TanningServicesProvidedInd | 0 | false |
| IRS990EZ/TotalExpensesAmt | 0 | 252357 |
| IRS990EZ/TotalProgramServiceExpensesAmt | 0 | 181093 |
| IRS990EZ/TotalRevenueAmt | 0 | 61854 |
| IRS990EZ/TransactionWithControlEntInd | 0 | false |
| IRS990EZ/TypeOfOrganizationCorpInd | 0 | X |
| IRS990EZ/WebsiteAddressTxt | 0 | N/A |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990ScheduleC/AgreeCarryoverPriorYearInd | 0 | false |
| IRS990ScheduleC/OnlyInHouseLobbyingInd | 0 | true |
| IRS990ScheduleC/SubstantiallyAllDuesNondedInd | 0 | false |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | EXPENSES ADVERTISING EXPENSES 44,591 OFFICE SUPPLIES 8,303 TRAVEL EXPENSES 50,617 INTEREST EXPENSE 2,354 ENTERTAINMENT - PROSPECTS 11,321 PROSPECT MEALS 24,564 AUTO EXPENSES 9,049 MISCELLANEOUS 1,955 CONTRIBUTIONS 50,000 NON-INVESTMENT DEPRECIATION 7,523 TOTAL 210,277 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | PREPAID EXPENSES AND DEFERRED CHARGES 2,421 2,421 EQUIPMENT 37,617 37,617 LESS ACCUMULATED DEPRECIATION 4,388 11,911 TOTAL 35,650 28,127 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | ACCOUNTS PAYABLE AND ACCRUED EXPENSES 684 97 MORTGAGE AND OTHER NOTES PAYABLE 36,694 31,012 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | SUPPLEMENT APPROPRIATIONS BY THE STATE LEGISLATURE FOR DEVELOPMENT OF THE STATE'S RESOURCES AND ATTRACTING NEW BUSINESSES TO THE STATE OF ARKANSAS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | MADE CONTRIBUTIONS TO ORGANIZATION THAT WORK TO ATTRACT PROSPECTIVE BUSINESSES, AND PROMOTE ECONOMIC DEVELOPMENT IN ARKANSAS. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990-EZ, PART I, LINE 16 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990-EZ, PART II, LINE 24 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990-EZ, PART II, LINE 26 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990-EZ, PART III |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990-EZ, PART III, LINE 31 |
| ReturnHeader/BuildTS | 0 | 2017-02-10 21:41:12Z |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | GUS VRATSINAS |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | PRESIDENT |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 5016827354 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2017-11-02 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | ARKANSAS ECONOMIC DEVELOPMENT |
| ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt | 0 | FOUNDATION |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | ARKA |
| ReturnHeader/Filer/EIN | 0 | 742390527 |
| ReturnHeader/Filer/PhoneNum | 0 | 5016827354 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | PO BOX 1784 |
| ReturnHeader/Filer/USAddress/CityNm | 0 | LITTLE ROCK |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | AR |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 72203 |
| ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId | 0 | DF0372D15A313E77E0F72805AE47A89A7BCB47C2 |
| ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId | 0 | 93A1273C6DA6C9675AA0F9F81013C791DF9BBA14 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 710650689 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | HUDSON CISNE & CO LLP |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 11025 ANDERSON DR STE 300 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | LITTLE ROCK |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | AR |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 722122472 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 5012211000 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2017-11-02 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | RAMI KASSISSIEH |
| ReturnHeader/ReturnTs | 0 | 2017-11-02T08:31:40-05:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990EZ |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2016-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2016-12-31 |
| ReturnHeader/TaxYr | 0 | 2016 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2016 • Form 990EZDetailed filing. Detailed filing data is available for this year.
- Assets
- $305,528
- Liabilities
- $31,109
- Net assets
- $274,419
- Revenue
- $61,854
- Expenses
- $252,357
- Net income
- -$190,503