Civic Intelligence

Economics Arkansas Foundation

990 • Fiscal year 2017 • EIN 81-2176432

Jun 01, 2016 to May 31, 2017 • Filed on Nov 13, 2017

Organization Profilewww.economicsarkansas.org/ea_foundation
1400 West Markham Street No 408Little Rock, AR 72201

(501) 682-4230

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.02x

Higher debt load relative to assets than 32% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

27th percentile

0.02x

Higher debt load relative to revenue than 27% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

99th percentile

98%

Higher net margin than 99% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

76th percentile

$118,444

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 5.9% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Balance Sheet
Liabilities / Assets32nd percentile

Assets

$2,102,168

No earlier filing loaded for comparison.

Net Assets

$2,057,235

No earlier filing loaded for comparison.

Liabilities

$44,933

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin99th percentile

Revenue

$2,023,892

No earlier filing loaded for comparison.

Expenses

$47,910

No earlier filing loaded for comparison.

Net Income

$1,975,982

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0Assets 2017: $2,102,168Liabilities 2017: $44,933Net Assets 2017: $2,057,2352017Assets 2018: $2,357,329Liabilities 2018: $17,826Net Assets 2018: $2,339,5032018Assets 2019: $2,344,089Liabilities 2019: $17,899Net Assets 2019: $2,326,1902019Assets 2020: $2,469,894Liabilities 2020: $11,970Net Assets 2020: $2,457,9242020Assets 2021: $3,066,553Liabilities 2021: $27,910Net Assets 2021: $3,038,6432021Assets 2022: $3,314,159Liabilities 2022: $39,645Net Assets 2022: $3,274,5142022Assets 2023: $3,374,516Liabilities 2023: $52,020Net Assets 2023: $3,322,4962023Assets 2024: $3,856,916Liabilities 2024: $17,624Net Assets 2024: $3,839,2922024Assets 2025: $4,327,169Liabilities 2025: $29,428Net Assets 2025: $4,297,7412025

Highlighted filing

2017

Assets$2,102,168
Liabilities$44,933
Net Assets$2,057,235
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $2,023,892Expenses 2017: $47,910Net Income 2017: $1,975,9822017Revenue 2018: $57,000Expenses 2018: $131,211Net Income 2018: -$74,2112018Revenue 2019: $77,378Expenses 2019: $137,982Net Income 2019: -$60,6042019Revenue 2020: $100,708Expenses 2020: $122,022Net Income 2020: -$21,3142020Revenue 2021: $179,017Expenses 2021: $157,766Net Income 2021: $21,2512021Revenue 2022: $590,051Expenses 2022: $163,683Net Income 2022: $426,3682022Revenue 2023: $228,320Expenses 2023: $149,645Net Income 2023: $78,6752023Revenue 2024: $220,831Expenses 2024: $194,687Net Income 2024: $26,1442024Revenue 2025: $202,289Expenses 2025: $29,428Net Income 2025: $172,8612025

Highlighted filing

2017

Revenue$2,023,892
Expenses$47,910
Net Income$1,975,982
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2016 to May 31, 2017
Signed
Nov 13, 2017
Return Version
2016v3.0
Gross Receipts
$2,023,892
Mission and Program Overview

Mission

See schedule o.to assist, promote and facilitate, directly and indirectly, the arkansas council on economic education (dba economics arkansas) in the attainment of its goals and objectives in facilitating exposure to economic and financial education for primary and secondary level students and to support and expand its operation.

To assist, promote and facilitate, directly and indirectly, the Arkansas Council on Economic Education (dba Economics Arkansas) in the attainment of its goals and objectives in facilitating exposure to economic and financial education for primary and secondary level students and to support and expand its operation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$1,981,039-
Cash and Non-Interest-Bearing Accounts-$121,129-
Total Assets$0$2,102,168▲ $2,102,168
Liabilities
Other Liabilities$0$44,933▲ $44,933
Total Liabilities$0$44,933▲ $44,933
Net Assets / Fund Balance
Permanently Rstr Net Assets-$2,000,000-
Temporarily Rstr Net Assets-$102,168-
Unrestricted Net Assets-$-44,933-
Total Net Assets Fund Balance$0$2,057,235▲ $2,057,235
Total Liabilities and Net Assets / Fund Balance$0$2,102,168▲ $2,102,168

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$0$2,000,000▲ $102,168-$2,102,168
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sue OwensExecutive DirectorPT$5,400$113,044$118,444

Board Members and Trustees

NameTitle
Ray HobbsPresident
Bob HamiltonMember
John WardMember
Ray DillonMember
Jim WootenSecretary
Wes KempTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,000,000
Program Service Revenue
$0
Investment Income
$23,892
Other Revenue
$0
All Other Contributions
$2,000,000
Change in Net Assets
$1,975,982
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Total Fundraising Expense$33,993
Professional Fundraising Fees$27,545
Other Expenses$10,361
Salaries, Compensation, and Employee Benefits$10,004
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Professional Fundraising--$27,545$27,545
Current Officers, Directors, Trustees, and Key Employees$3,078$1,188$1,134$5,400
Other Expenses--$4,347$4,347
Other Salaries and Wages$1,744$673$643$3,060
Fees for Services Other-$2,977-$2,977
Insurance-$1,455-$1,455
Other Employee Benefits$549$212$202$963
Office Expenses-$848-$848
Payroll Taxes$331$128$122$581
Fees for Services Legal-$450-$450
Conferences and Meetings-$284-$284
Total Functional Expenses$5,702$8,215$33,993$47,910
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$27,545
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Economics Arkansas$44,933
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 8B

“Complete meeting minutes are documented by the board. All actions taken by any sub-committees are communicated to the full governing body at the appropriate time.”

Form 990, Part VI, Section B, line 11B

“The 990 is reviewed by the Administrative Manager and the Treasurer before it is provided to the remainder of the board for review and approval.”

Form 990, Part VI, Section C, line 18

“The 990 is reviewed by the Administrative Manager and the Treasurer before it is provided to the remainder of the board for review and approval.”

Form 990, Part VI, Section C, line 19

“The 990 and other organizational documents are available upon request at the Organization's office located at the address listed on the bottom of Page 6. The 990 is also available online at www.guidestar.org.”

Filing and Contact Details

Filer

Filer Name
Economics Arkansas Foundation
EIN
81-2176432
Phone
5016824230
Address
1400 West Markham Street No 408, Little Rock, AR 72201

Signing Officer

Name
Wes Kemp
Title
Treasurer
Phone
5016824230
Signed
2017-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wes Kemp
Formed
2016
Legal Domicile
Ar
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Thomas & Thomas LLP
Address
201 E Markham Suite 500, Little Rock, AR 72201
Preparer
Randy L Milligan
Phone
5013752025
Supplemental Narrative

Financial Statement Notes

Part V, Line 4:

“The Foundation will use funds to support the operations of the Arkansas Council on Economic Education.”

Part X, Line 2:

“The Arkansas Council on Economic Education and the Economics Arkansas Foundation (the organizations) are tax exempt organizations under Section 501(c)(3) of the Internal Revenue Code (the Code) and are not private foundations within the meaning of Section 509(a) of the Code. Accounting standards require the organizations to evaluate tax positions and recognize a tax liability (or asset) if the organizations have taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The organizations have analyzed their tax positions taken and has concluded that as of May 31, 2017 and 2016, there are no uncertain positions taken or expected to be taken that would require the recognition of a liability (or asset) or disclosure in the consolidated financial statements. The organizations may be subject to audit by the Internal Revenue Service; however, there are currently no audits for any tax periods in progress.”

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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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt00
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt02000000
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt02102168
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0102168
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt044933
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to Economics Arkansas
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.95140
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Foundation will use funds to support the operations of the Arkansas Council on Economic Education.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Arkansas Council on Economic Education and the Economics Arkansas Foundation (the organizations) are tax exempt organizations under Section 501(c)(3) of the Internal Revenue Code (the Code) and are not private foundations within the meaning of Section 509(a) of the Code. Accounting standards require the organizations to evaluate tax positions and recognize a tax liability (or asset) if the organizations have taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The organizations have analyzed their tax positions taken and has concluded that as of May 31, 2017 and 2016, there are no uncertain positions taken or expected to be taken that would require the recognition of a liability (or asset) or disclosure in the consolidated financial statements. The organizations may be subject to audit by the Internal Revenue Service; however, there are currently no audits for any tax periods in progress.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.04860
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt044933
IRS990ScheduleG/AgrmtProfFundraisingActyInd01
IRS990ScheduleG/FundraiserActivityInfoGrp/ActivityTxt0Consultation, solicitation, & education of charitable giving
IRS990ScheduleG/FundraiserActivityInfoGrp/FundraiserControlOfFundsInd00
IRS990ScheduleG/FundraiserActivityInfoGrp/GrossReceiptsAmt00
IRS990ScheduleG/FundraiserActivityInfoGrp/NetToOrganizationAmt0-27545
IRS990ScheduleG/FundraiserActivityInfoGrp/OrganizationBusinessName/BusinessNameLine1Txt0Hueston Consulting Group LLC
IRS990ScheduleG/FundraiserActivityInfoGrp/RetainedByContractorAmt027545
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine1Txt0385 Pippinpost Drive
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/CityNm0Conway
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/StateAbbreviationCd0AR
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/ZIPCd072034
IRS990ScheduleG/LicensedStatesCd0AL
IRS990ScheduleG/LicensedStatesCd1AK
IRS990ScheduleG/LicensedStatesCd2AZ
IRS990ScheduleG/LicensedStatesCd3AR
IRS990ScheduleG/LicensedStatesCd4CA
IRS990ScheduleG/LicensedStatesCd5CO
IRS990ScheduleG/LicensedStatesCd6CT
IRS990ScheduleG/LicensedStatesCd7DE
IRS990ScheduleG/LicensedStatesCd8FL
IRS990ScheduleG/LicensedStatesCd9GA
IRS990ScheduleG/LicensedStatesCd10HI
IRS990ScheduleG/LicensedStatesCd11ID
IRS990ScheduleG/LicensedStatesCd12IL
IRS990ScheduleG/LicensedStatesCd13IN
IRS990ScheduleG/LicensedStatesCd14IA
IRS990ScheduleG/LicensedStatesCd15KS
IRS990ScheduleG/LicensedStatesCd16KY
IRS990ScheduleG/LicensedStatesCd17LA
IRS990ScheduleG/LicensedStatesCd18ME
IRS990ScheduleG/LicensedStatesCd19MD
IRS990ScheduleG/LicensedStatesCd20MA
IRS990ScheduleG/LicensedStatesCd21MI
IRS990ScheduleG/LicensedStatesCd22MN
IRS990ScheduleG/LicensedStatesCd23MS
IRS990ScheduleG/LicensedStatesCd24MO
IRS990ScheduleG/LicensedStatesCd25MT
IRS990ScheduleG/LicensedStatesCd26NE
IRS990ScheduleG/LicensedStatesCd27NV
IRS990ScheduleG/LicensedStatesCd28NH
IRS990ScheduleG/LicensedStatesCd29NJ
IRS990ScheduleG/LicensedStatesCd30NM
IRS990ScheduleG/LicensedStatesCd31NY
IRS990ScheduleG/LicensedStatesCd32NC
IRS990ScheduleG/LicensedStatesCd33ND
IRS990ScheduleG/LicensedStatesCd34OH
IRS990ScheduleG/LicensedStatesCd35OK
IRS990ScheduleG/LicensedStatesCd36OR
IRS990ScheduleG/LicensedStatesCd37PA
IRS990ScheduleG/LicensedStatesCd38RI
IRS990ScheduleG/LicensedStatesCd39SC
IRS990ScheduleG/LicensedStatesCd40SD
IRS990ScheduleG/LicensedStatesCd41TN
IRS990ScheduleG/LicensedStatesCd42TX
IRS990ScheduleG/LicensedStatesCd43UT
IRS990ScheduleG/LicensedStatesCd44VT
IRS990ScheduleG/LicensedStatesCd45VA
IRS990ScheduleG/LicensedStatesCd46WA
IRS990ScheduleG/LicensedStatesCd47WV
IRS990ScheduleG/LicensedStatesCd48WI
IRS990ScheduleG/LicensedStatesCd49WY
IRS990ScheduleG/TotalNetToOrganizationAmt0-27545
IRS990ScheduleG/TotalRetainedByContractorsAmt027545
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Complete meeting minutes are documented by the board. All actions taken by any sub-committees are communicated to the full governing body at the appropriate time.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 990 is reviewed by the Administrative Manager and the Treasurer before it is provided to the remainder of the board for review and approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The 990 is reviewed by the Administrative Manager and the Treasurer before it is provided to the remainder of the board for review and approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The 990 and other organizational documents are available upon request at the Organization's office located at the address listed on the bottom of Page 6. The 990 is also available online at www.guidestar.org.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Arkansas Council on Economic Education
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0716058254
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0AR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0To increase the economic literacy of preK-12th grade students in Arkansas.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0170(b)(1)(A)(vi)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO Box 3447
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Little Rock
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0AR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd0722033447
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0AR
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$2,102,168
Liabilities
$44,933
Net assets
$2,057,235
Revenue
$2,023,892
Expenses
$47,910
Net income
$1,975,982
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.33$0.03$4.30$0.20$0.03$0.17
2024Detailed filing. Detailed filing data is available for this year.$3.86$0.02$3.84$0.22$0.19$0.03
2023Detailed filing. Detailed filing data is available for this year.$3.37$0.05$3.32$0.23$0.15$0.08
2022Detailed filing. Detailed filing data is available for this year.$3.31$0.04$3.27$0.59$0.16$0.43
2021Detailed filing. Detailed filing data is available for this year.$3.07$0.03$3.04$0.18$0.16$0.02
2020Detailed filing. Detailed filing data is available for this year.$2.47$0.01$2.46$0.10$0.12$0.02
2019Detailed filing. Detailed filing data is available for this year.$2.34$0.02$2.33$0.08$0.14$0.06
2018Detailed filing. Detailed filing data is available for this year.$2.36$0.02$2.34$0.06$0.13$0.07
2017Detailed filing. Detailed filing data is available for this year.$2.10$0.04$2.06$2.02$0.05$1.98