Civic Intelligence

Economics Arkansas Foundation

990 • Fiscal year 2019 • EIN 81-2176432

Jun 01, 2018 to May 31, 2019 • Filed on Jan 27, 2020

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

26th percentile

0.01x

Higher debt load relative to assets than 26% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

68th percentile

0.23x

Higher debt load relative to revenue than 68% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

4th percentile

-78%

Higher net margin than 4% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

77th percentile

$122,625

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 158.5% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

37th percentile

-0.6%

Faster asset growth than 37% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

83rd percentile

36%

Faster revenue growth than 83% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets26th percentile

Assets

Down

$2,344,089

Down $13,240 (-0.6%) from 2018

Net Assets

Down

$2,326,190

Down $13,313 (-0.6%) from 2018

Liabilities

Up

$17,899

Up $73 (+0.4%) from 2018

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin4th percentile

Revenue

Up

$77,378

Up $20,378 (+36%) from 2018

Expenses

Up

$137,982

Up $6,771 (+5.2%) from 2018

Net Income

Up

-$60,604

Up $13,607 (+18%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth37th percentile

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

2019

Assets$2,344,089
Liabilities$17,899
Net Assets$2,326,190
Open 2019 Filing

Operations Trend

Revenue Growth83rd percentile

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

2019

Revenue$77,378
Expenses$137,982
Net Income-$60,604
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2018 to May 31, 2019
Signed
Jan 27, 2020
Return Version
2018v3.1
Gross Receipts
$77,378
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$2,292,068$2,323,873▲ $31,805
Cash and Non-Interest-Bearing Accounts$65,261$20,216▼ $45,045
Total Assets$2,357,329$2,344,089▼ $13,240
Liabilities
Other Liabilities$17,826$17,899▲ $73
Total Liabilities$17,826$17,899▲ $73
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,000,000$2,000,000→ $0
Unrestricted Net Assets$224,079$231,870▲ $7,791
Temporarily Rstr Net Assets$115,424$94,320▼ $21,104
Total Net Assets Fund Balance$2,339,503$2,326,190▼ $13,313
Total Liabilities and Net Assets / Fund Balance$2,357,329$2,344,089▼ $13,240

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$2,115,424$11,969▲ $95,752-$2,094,319
2017$2,102,168-▲ $123,636-$2,115,424
2016-$2,000,000▲ $102,168-$2,102,168
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kathleen LawsonExecutive DirectorPT$5,573$117,052$122,625

Board Members and Trustees

NameTitle
Ray HobbsPresident
Wes KempVice President
Allison RichardsonMember
Jim TuckerMember
Perry WilsonMember
Ray DillonMember
Jim WootenSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$15,262
Program Service Revenue
$0
Investment Income
$62,116
Other Revenue
$0
All Other Contributions
$15,262
Change in Net Assets
$-60,604
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$111,000
Other Expenses$15,371
Salaries, Compensation, and Employee Benefits$11,611
Total Fundraising Expense$757
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$111,000--$111,000
Fees for Service Investment Mgmnt Fees-$6,545-$6,545
Current Officers, Directors, Trustees, and Key Employees-$6,522-$6,522
Other Salaries and Wages-$3,807-$3,807
Other Expenses-$3,130-$3,130
Fees for Services Accounting-$1,620-$1,620
Insurance-$1,527-$1,527
Office Expenses-$811-$811
Payroll Taxes-$796-$796
Occupancy-$771-$771
Advertising--$757$757
Other Employee Benefits-$300-$300
Pension Plan Contributions-$186-$186
Depreciation Depletion-$138-$138
Information Technology-$57-$57
Travel-$15-$15
Total Functional Expenses$111,000$26,225$757$137,982
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Arkansas Council on Economic EducationLittle Rock, AR501(c)3To increase the economic literacy of preK-12th grade students in Arkansas.$111,000
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Economics Arkansas$17,899
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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, the Executive Director, and the Board 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
Ray Hobbs
Title
President
Phone
5016824230
Signed
2020-01-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ray Hobbs
Formed
2016
Legal Domicile
Ar
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Landmark PLC CPAs
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 programs and operations of the Arkansas Council on Economic Education (dba Economics Arkansas).”

Part X, Line 2:

“The Arkansas Council on Economic Education (dba Economics Arkansas) 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 have concluded that as of May 31, 2019 and 2018, 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.”

Raw XML AppendixShowing 400 of 461 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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0The Foundation's primary purpose is 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.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part IV, Section E, Line 2a:
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to Economics Arkansas
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Foundation will use funds to support the programs and operations of the Arkansas Council on Economic Education (dba Economics Arkansas).
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Arkansas Council on Economic Education (dba Economics Arkansas) 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 have concluded that as of May 31, 2019 and 2018, 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:
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0To increase the economic literacy of preK-12th grade students in Arkansas.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Arkansas Council on Economic Education
IRS990ScheduleI/RecipientTable/RecipientEIN0716058254
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO Box 3447
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Little Rock
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0AR
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd0722033447
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The Economics Arkansas Foundation only supports and grants assistance to the programs and operations of the Arkansas Council on Economic Education (dba Economics Arkansas). All supporting documentation related to assistance given is maintained in the Foundation's files and reported in their financial statements on a consolidated basis. An independent audit of these statements occurs on an annual basis.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
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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, the Executive Director, and the Board Treasurer before it is provided to the remainder of the board for review and approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The 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 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0See description at Part VII
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IRS990ScheduleR/SupplementalInformationDetail/ExplanationTxt0To equip PreK-12 schools with standards-based resources and professional development to teach economics, personal finance and the free enterprise system using practical, innovative and inspirational methods.
IRS990ScheduleR/SupplementalInformationDetail/FormAndLineReferenceDesc0Part II, Column (b), Primary Activity:
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,344,089
Liabilities
$17,899
Net assets
$2,326,190
Revenue
$77,378
Expenses
$137,982
Net income
-$60,604
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