Civic Intelligence

Arkansas Economic Development Foundation

990 • Fiscal year 2019 • EIN 74-2390527

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 12, 2020

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

36th percentile

0.02x

Higher debt load relative to assets than 36% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

40th percentile

0.02x

Higher debt load relative to revenue than 40% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Net Margin

94th percentile

33%

Higher net margin than 94% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

43rd percentile

$0

Higher top officer pay than 43% of similar nonprofits.

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

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Asset Growth

84th percentile

26%

Faster asset growth than 84% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

99th percentile

145%

Faster revenue growth than 99% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$730,761

Up $151,951 (+26%) from 2018

Net Assets

Up

$719,340

Up $158,935 (+28%) from 2018

Liabilities

Down

$11,421

Down $6,984 (-38%) from 2018

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin94th percentile

Revenue

Up

$473,755

Up $280,369 (+145%) from 2018

Expenses

Up

$317,210

Up $167,353 (+112%) from 2018

Net Income

Up

$156,545

Up $113,016 (+260%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth84th 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

2019

Assets$730,761
Liabilities$11,421
Net Assets$719,340
Open 2019 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

2019

Revenue$473,755
Expenses$317,210
Net Income$156,545
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 12, 2020
Return Version
2019v5.0
Gross Receipts
$511,899
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
Savings and Temporary Cash Investments$358,968$657,904▲ $298,936
Cash and Non-Interest-Bearing Accounts$206,761$67,299▼ $139,462
Land, Buildings, and Equipment, Net$10,660$3,137▼ $7,523
Prepaid Expenses and Deferred Charges$2,421$2,421→ $0
Total Assets$578,810$730,761▲ $151,951
Liabilities
Mortgage Notes Payable Secured by Investment Property$18,405$11,421▼ $6,984
Total Liabilities$18,405$11,421▼ $6,984
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$560,405$719,340▲ $158,935
Total Net Assets Fund Balance$560,405$719,340▲ $158,935
Total Liabilities and Net Assets / Fund Balance$578,810$730,761▲ $151,951

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,137$34,480$37,617
Compensation and Service Providers
Top Officer Pay43rd percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$497,570
Program Service Revenue
$0
Investment Income
$14,329
Other Revenue
$-38,144
All Other Contributions
$42,320
Change in Net Assets
$156,545

Audited Revenue Reconciliation

Revenue per Audited Statements
$473,755
Revenue Not Reported on Form 990
$40,534
Total Revenue per Audited Statements
$514,289
Total Revenue per Form 990
$473,755
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$317,190
Grants and Similar Amounts Paid$20
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$129,111--$129,111
Payment Travel Entrtnmnt Publicly Ofcl$96,336$25-$96,361
Travel$30,963$1,292-$32,255
Fees for Services Accounting-$13,815-$13,815
Depreciation Depletion$7,524--$7,524
All Other Expenses$2,513--$2,513
Fees for Services Other-$1,191-$1,191
Other Expenses$1,074--$1,074
Interest$1,052--$1,052
Insurance-$188-$188
Grants to Domestic Orgs$20--$20
Total Functional Expenses$300,699$16,511$0$317,210

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$355,354
Expenses per Audited Statements$317,210
Total Expenses per Form 990$317,210
Expenses Not Reported on Form 990$38,144
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$38,144
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Luncheon$455,250-$1,249-
Total Events$455,250-$38,144$-38,144
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
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
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
2020-11-12

Organization Details

Principal Officer
Gus Vratsinas
Formed
1955
Legal Domicile
Ar
Voting Board Members
9
Independent Board Members
9
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.”

Form 990, Part XI, Line 9

“Fundraising expenses 38,144 fundraising expenses -38,144”

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.”

Schedule D, Page 4, Part XI, Line 2D

“Fundraising expenses 38,144”

Schedule D, Page 4, Part XII, Line 2D

“Fundraising expenses 38,144”

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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/ExplanationTxt1FUNDRAISING EXPENSES 38,144
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSES 38,144
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleD/TotalRevenuePerForm990Amt0473755
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0514289
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0355354
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IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt0455250
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt038144
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0LUNCHEON
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt014909
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt014909
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0455250
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0455250
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-38144
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt01249
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt01249
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt021986
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt021986
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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/ExplanationTxt3FUNDRAISING EXPENSES 38,144 FUNDRAISING EXPENSES -38,144
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine2Txt0DEVELOPMENT FOUNDATION INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0272775803
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0LITTLE ROCK
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0730761
IRS990/TotalAssetsGrp/BOYAmt0578810
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IRS990/TotalContributionsAmt0497570
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0300699
IRS990/TotalFunctionalExpensesGrp/TotalAmt0317210
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt018405
IRS990/TotalLiabilitiesEOYAmt011421
IRS990/TotalLiabilitiesGrp/BOYAmt018405
IRS990/TotalLiabilitiesGrp/EOYAmt011421
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0560405
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0719340
IRS990/TotalProgramServiceExpensesAmt0300699
IRS990/TotalRevenueGrp/ExclusionAmt014329
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0473755
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0578810
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0730761
IRS990/TravelGrp/ManagementAndGeneralAmt01292
IRS990/TravelGrp/ProgramServicesAmt030963
IRS990/TravelGrp/TotalAmt032255
IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1784
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IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-04-22 16:20:28Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-12
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ReturnHeader/Filer/BusinessNameControlTxt0ARKA
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ReturnHeader/Filer/PhoneNum05016827354
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ReturnHeader/FilingSecurityInformation/IPTm011:26:03
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0710650689
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HUDSON CISNE & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt011025 ANDERSON DR STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LITTLE ROCK
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ReturnHeader/PreparerPersonGrp/PhoneNum05012211000
ReturnHeader/PreparerPersonGrp/PreparationDt02020-11-12
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ReturnHeader/ReturnTs02020-11-12T11:26:03-06:00
ReturnHeader/ReturnTypeCd0990

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$730,761
Liabilities
$11,421
Net assets
$719,340
Revenue
$473,755
Expenses
$317,210
Net income
$156,545
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