Civic Intelligence

Arkansas Economic Development Foundation

990 • Fiscal year 2017 • EIN 74-2390527

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 02, 2018

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

44th percentile

0.05x

Higher debt load relative to assets than 44% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

48th percentile

0.06x

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

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Net Margin

98th percentile

54%

Higher net margin than 98% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Asset Growth

96th percentile

77%

Faster asset growth than 96% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

99th percentile

631%

Faster revenue growth than 99% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets44th percentile

Assets

Up

$541,801

Up $236,273 (+77%) from 2016

Net Assets

Up

$516,876

Up $242,457 (+88%) from 2016

Liabilities

Down

$24,925

Down $6,184 (-20%) from 2016

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin98th percentile

Revenue

Up

$452,044

Up $390,190 (+631%) from 2016

Expenses

Down

$209,587

Down $42,770 (-17%) from 2016

Net Income

Up

$242,457

Up $432,960 (+227%) from 2016

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

2017

Assets$541,801
Liabilities$24,925
Net Assets$516,876
Open 2017 Filing

Operations Trend

Revenue Growth99th 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

2017

Revenue$452,044
Expenses$209,587
Net Income$242,457
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 2, 2018
Return Version
2017v2.3
Gross Receipts
$489,858
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$219,843$463,511▲ $243,668
Savings and Temporary Cash Investments$57,558$57,688▲ $130
Land, Buildings, and Equipment, Net$25,706$18,181▼ $7,525
Prepaid Expenses and Deferred Charges$2,421$2,421→ $0
Total Assets$305,528$541,801▲ $236,273
Liabilities
Mortgage Notes Payable Secured by Investment Property$31,012$24,925▼ $6,087
Accounts Payable and Accrued Expenses$97--
Total Liabilities$31,109$24,925▼ $6,184
Net Assets / Fund Balance
Unrestricted Net Assets$274,419$516,876▲ $242,457
Total Net Assets Fund Balance$274,419$516,876▲ $242,457
Total Liabilities and Net Assets / Fund Balance$305,528$541,801▲ $236,273

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$18,181$19,436$37,617
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Gus VratsinasPresident
Archie Schaffer IiiBoard Member
Mark YoungBoard Member
Michael LindseyBoard Member
Mike AkinBoard Member
Niel CrowsonBoard Member
Steve LuelfBoard Member
Sharon TrustySecretary
Tom SchueckTreasurer
Frank ThomasVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$451,850
Program Service Revenue
$0
Investment Income
$194
Other Revenue
$0
All Other Contributions
$23,000
Change in Net Assets
$242,457

Audited Revenue Reconciliation

Revenue per Audited Statements
$452,044
Total Revenue per Audited Statements
$452,044
Total Revenue per Form 990
$452,044
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$199,587
Grants and Similar Amounts Paid$10,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$62,764--$62,764
Travel$53,872--$53,872
Fees for Services Accounting-$14,835-$14,835
Office Expenses-$10,661-$10,661
Grants to Domestic Orgs$10,000--$10,000
Other Expenses$36,770$7,912-$7,912
Depreciation Depletion-$7,524-$7,524
Fees for Services Other-$2,746-$2,746
Interest-$1,949-$1,949
Insurance$304--$304
All Other Expenses$250--$250
Total Functional Expenses$163,960$45,627$0$209,587

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$209,587
Total Expenses per Audited Statements$209,587
Total Expenses per Form 990$209,587
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Arkansas Policy FoundationLittle Rock, AR--$10,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$37,814
Fundraising Gross Income$37,814
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Luncheon$466,664$37,814$11,450$26,364
Total Events$466,664$37,814$37,814-
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
Yes
Audit committee
No
Backup withholding compliance
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, Page 6, Part VI, Line 11B

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

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST”

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
2018-11-02

Organization Details

Principal Officer
Gus Vratsinas
Formed
1955
Legal Domicile
Ar
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

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, Page 2, Part III, Line 4D

“Made contributions to organization that work to attract prospective businesses, and promote economic development in arkansas.”

Financial Statement Notes

Schedule D, Page 3, 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 Appendix390 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/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION WILL RECOGNIZE ACCRUED INTEREST AND PENALTIES, IF ANY, ASSOCIATED WITH UNCERTAIN POSITIONS AS PART OF MANAGEMENT AND GENERAL EXPENSES.
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IRS990ScheduleI/RecipientTable/RecipientEIN0710771091
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0111 CENTER STREET SUITE 1200
IRS990ScheduleI/RecipientTable/USAddress/CityNm0LITTLE ROCK
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd072201
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS COMMON BOARD MEMBERS WITH THE ORGANIZATION THAT IT ASSISTS AND IS INVOVLED IN THE OVERALL SELECTION CRITERIA USED TO AWARD THE GRANTS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 4, PART IV
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MADE CONTRIBUTIONS TO ORGANIZATION THAT WORK TO ATTRACT PROSPECTIVE BUSINESSES, AND PROMOTE ECONOMIC DEVELOPMENT IN ARKANSAS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION PROVIDES A COPY OF THE FORM 990 TO ITS GOVERNING BODY VIA EMAIL PRIOR TO FILING THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST
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 19
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IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0451850
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0163960
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0GUS VRATSINAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05016827354
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ARKANSAS ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0ARKA
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ReturnHeader/Filer/PhoneNum05016827354
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt066.162.88.226
ReturnHeader/FilingSecurityInformation/IPDt02018-11-06
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm016:28:15
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0710650689
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HUDSON CISNE & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt011025 ANDERSON DR STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LITTLE ROCK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0722122472
ReturnHeader/PreparerPersonGrp/PhoneNum05012211000
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RAMI KASSISSIEH
ReturnHeader/ReturnTs02018-11-06T16:28:15-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$541,801
Liabilities
$24,925
Net assets
$516,876
Revenue
$452,044
Expenses
$209,587
Net income
$242,457
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