Civic Intelligence

Morgan County Economic Development Corporation

990 • Fiscal year 2013 • EIN 84-0565221

Jan 01, 2013 to Dec 31, 2013 • Filed on Mar 31, 2014

Organization Profilewww.morgancountyinfo.com
231 Ensign Street Room B10280701

(970) 542-3527

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.01x

Higher debt load relative to assets than 53% of similar nonprofits.

2013 filings • 501(c)6 • <$500k nonprofits • Source year 2013

Liabilities / Revenue

57th percentile

0.01x

Higher debt load relative to revenue than 57% of similar nonprofits.

2013 filings • 501(c)6 • <$500k nonprofits • Source year 2013

Net Margin

66th percentile

8.9%

Higher net margin than 66% of similar nonprofits.

2013 filings • 501(c)6 • <$500k nonprofits • Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

61st percentile

8.2%

Faster asset growth than 61% of similar nonprofits.

2013 filings • 501(c)6 • <$500k nonprofits • Annualized from 2012 to 2013

Revenue Growth

32nd percentile

-6.6%

Faster revenue growth than 32% of similar nonprofits.

2013 filings • 501(c)6 • <$500k nonprofits • Annualized from 2012 to 2013

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Up

$133,948

Up $10,112 (+8.2%) from 2012

Net Assets

Up

$132,644

Up $9,904 (+8.1%) from 2012

Liabilities

Up

$1,304

Up $208 (+19%) from 2012

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin66th percentile

Revenue

Down

$111,101

Down $7,849 (-6.6%) from 2012

Expenses

Up

$101,197

Up $2,825 (+2.9%) from 2012

Net Income

Down

$9,904

Down $10,674 (-52%) from 2012

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $122,434Liabilities 2010: $2,974Net Assets 2010: $119,4602010Assets 2011: $103,910Liabilities 2011: $1,748Net Assets 2011: $102,1622011Assets 2012: $123,836Liabilities 2012: $1,096Net Assets 2012: $122,7402012Assets 2013: $133,948Liabilities 2013: $1,304Net Assets 2013: $132,6442013Assets 2014: $144,991Liabilities 2014: $1,204Net Assets 2014: $143,7872014Assets 2015: $182,394Liabilities 2015: $601Net Assets 2015: $181,7932015Assets 2016: $224,129Liabilities 2016: $168Net Assets 2016: $223,9612016Assets 2017: $214,030Liabilities 2017: $5,767Net Assets 2017: $208,2632017Assets 2018: $202,232Liabilities 2018: $2,009Net Assets 2018: $200,2232018Assets 2019: $202,346Liabilities 2019: $779Net Assets 2019: $201,5672019Assets 2020: $275,969Liabilities 2020: $3,416Net Assets 2020: $272,5532020Assets 2021: $331,878Liabilities 2021: $4,570Net Assets 2021: $327,3082021Assets 2022: $345,154Liabilities 2022: $4,288Net Assets 2022: $340,8662022Assets 2023: $348,987Liabilities 2023: $7,031Net Assets 2023: $341,9562023Assets 2024: $1,688,731Liabilities 2024: $206,324Net Assets 2024: $1,482,4072024

Highlighted filing

2013

Assets$133,948
Liabilities$1,304
Net Assets$132,644
Open 2013 Filing

Operations Trend

Revenue Growth32nd percentile

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

$600K$400K$200K$0-$200KRevenue 2010: $104,109Expenses 2010: $129,095Net Income 2010: -$24,9862010Revenue 2011: $125,459Expenses 2011: $142,757Net Income 2011: -$17,2982011Revenue 2012: $118,950Expenses 2012: $98,372Net Income 2012: $20,5782012Revenue 2013: $111,101Expenses 2013: $101,197Net Income 2013: $9,9042013Revenue 2014: $145,094Expenses 2014: $133,951Net Income 2014: $11,1432014Revenue 2015: $169,452Expenses 2015: $131,446Net Income 2015: $38,0062015Revenue 2016: $140,297Expenses 2016: $98,129Net Income 2016: $42,1682016Revenue 2017: $99,084Expenses 2017: $114,782Net Income 2017: -$15,6982017Revenue 2018: $107,838Expenses 2018: $115,878Net Income 2018: -$8,0402018Revenue 2019: $102,134Expenses 2019: $100,790Net Income 2019: $1,3442019Revenue 2020: $157,618Expenses 2020: $86,632Net Income 2020: $70,9862020Revenue 2021: $172,121Expenses 2021: $117,366Net Income 2021: $54,7552021Revenue 2022: $153,454Expenses 2022: $139,896Net Income 2022: $13,5582022Revenue 2023: $184,966Expenses 2023: $183,876Net Income 2023: $1,0902023Revenue 2024: $564,240Expenses 2024: $459,322Net Income 2024: $104,9182024

Highlighted filing

2013

Revenue$111,101
Expenses$101,197
Net Income$9,904
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Mar 31, 2014
Return Version
2013v3.1
Gross Receipts
$111,101
Mission and Program Overview

Mission

To promote Morgan County by serving as the primary coordinator of information and resources for new and expanding businesses to optimize the activities of economic and community development for the enrichment of its businesses and residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$75,436$92,077▲ $16,641
Savings and Temporary Cash Investments$28,367$28,493▲ $126
Accounts Receivable$18,645$12,310▼ $6,335
Land, Buildings, and Equipment, Net$1,388$1,068▼ $320
Total Assets$123,836$133,948▲ $10,112
Liabilities
Other Liabilities$639$884▲ $245
Accounts Payable and Accrued Expenses$457$420▼ $37
Total Liabilities$1,096$1,304▲ $208
Net Assets / Fund Balance
Unrestricted Net Assets$122,740$132,644▲ $9,904
Total Net Assets Fund Balance$122,740$132,644▲ $9,904
Total Liabilities and Net Assets / Fund Balance$123,836$133,948▲ $10,112

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,068$33,374$34,442
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Cassandra WilsonExecutive DirectorFT$36,070$36,070

Board Members and Trustees

NameTitle
Marc TormohlenPresident
Trish CritesVice President
Bret PolandDirector
Brett WaltersDirector
Jeff BrownDirector
Jim MusgraveDirector
Laura TeagueDirector
Linda ThorpeDirector
Lindsey BruntzDirector
Ron ShaverDirector
Tyler PurvisDirector
John SweenieTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$105,165
Program Service Revenue
$0
Investment Income
$418
Other Revenue
$5,518
All Other Contributions
$105,165
Change in Net Assets
$9,904
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$72,884
Other Expenses$28,313
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$18,035$18,035-$36,070
Payroll Taxes$7,842$7,842-$15,684
Other Salaries and Wages$5,932$5,932-$11,864
Other Employee Benefits$4,633$4,633-$9,266
Fees for Services Other-$4,170-$4,170
Fees for Services Accounting-$3,025-$3,025
Other Expenses$2,828$681-$2,828
Travel$1,399$1,399-$2,798
Insurance-$2,568-$2,568
Information Technology$1,881$627-$2,508
Office Expenses-$2,399-$2,399
Advertising$1,300--$1,300
Depreciation Depletion$160$160-$320
Fees for Services Legal-$10-$10
Total Functional Expenses$48,366$52,831$0$101,197
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$884
Accrued leave liability-
Accrued payroll liabilities-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
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, Part VI, Section A, Line 4

“The Corporations bylaws were updated in January 2013.”

Form 990, Part VI, Section B, Line 11

“Form 990 is reviewed with the Executive Board and then formally presented to the entire Board of Directors at the next Board meeting, along with reviewed financial statements.”

Form 990, Part VI, Section C, Line 19

“Governing documents can be viewed at the MCEDC office.”

Filing and Contact Details

Filer

EIN
84-0565221
Phone
9705423527

Signing Officer

Name
Marc Tormohlen
Title
President
Signed
2014-03-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marc Tormohlen
Formed
1962
Legal Domicile
Co
Voting Board Members
12
Independent Board Members
12
Employees
3

Preparer

Preparer
David Kauffman
Phone
9708674922
Supplemental Narrative

Financial Statement Notes

X 2

“The Corporation is tax-exempt under Section 501c6 of the Internal Revenue Code. The Corporation is subject to a tax on income from any unrelated business. The Corporation has adopted the recognition requirements for uncertain income tax positions as required by generally accepted accounting principles. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The Corporation has analyzed tax positions taken for filing with the Internal Revenue Service, and believes that income tax filing positions will be sustained upon examination. Accordingly, the Corporation has not recorded any reserves or related accruals for interest and penalties for uncertain income tax positions as of December 31, 2013.”

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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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IRS990/PayrollTaxesGrp/ProgramServicesAmt07842
IRS990/PayrollTaxesGrp/TotalAmt015684
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0Marc Tormohlen
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0109327
IRS990/PYInvestmentIncomeAmt01270
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt034364
IRS990/PYOtherRevenueAmt08353
IRS990/PYRevenuesLessExpensesAmt020578
IRS990/PYSalariesCompEmpBnftPaidAmt064008
IRS990/PYTotalExpensesAmt098372
IRS990/PYTotalRevenueAmt0118950
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt09904
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt028367
IRS990/SavingsAndTempCashInvstGrp/EOYAmt028493
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt01068
IRS990ScheduleD/EquipmentGrp/DepreciationAmt033374
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt034442
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0884
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Accrued leave liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Accrued payroll liabilities
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Corporation is tax-exempt under Section 501c6 of the Internal Revenue Code. The Corporation is subject to a tax on income from any unrelated business. The Corporation has adopted the recognition requirements for uncertain income tax positions as required by generally accepted accounting principles. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The Corporation has analyzed tax positions taken for filing with the Internal Revenue Service, and believes that income tax filing positions will be sustained upon examination. Accordingly, the Corporation has not recorded any reserves or related accruals for interest and penalties for uncertain income tax positions as of December 31, 2013.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0X 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01068
IRS990ScheduleD/TotalLiabilityAmt0884
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Corporations bylaws were updated in January 2013.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 is reviewed with the Executive Board and then formally presented to the entire Board of Directors at the next Board meeting, along with reviewed financial statements.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Governing documents can be viewed at the MCEDC office.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0123836
IRS990/TotalAssetsEOYAmt0133948
IRS990/TotalAssetsGrp/BOYAmt0123836
IRS990/TotalAssetsGrp/EOYAmt0133948
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0105165
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt052831
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt048366
IRS990/TotalFunctionalExpensesGrp/TotalAmt0101197
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01096
IRS990/TotalLiabilitiesEOYAmt01304
IRS990/TotalLiabilitiesGrp/BOYAmt01096
IRS990/TotalLiabilitiesGrp/EOYAmt01304
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0122740
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0132644
IRS990/TotalProgramServiceExpensesAmt048366
IRS990/TotalReportableCompFromOrgAmt036070
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05936
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0111101
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0123836
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0133948
IRS990/TravelGrp/ManagementAndGeneralAmt01399
IRS990/TravelGrp/ProgramServicesAmt01399
IRS990/TravelGrp/TotalAmt02798
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0122740
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0132644
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10231 Ensign Street Room B102
IRS990/USAddress/City0Fort Morgan
IRS990/USAddress/State0CO
IRS990/USAddress/ZIPCode080701
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0www.morgancountyinfo.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Marc Tormohlen
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-03-31
ReturnHeader/Filer/BusinessName/BusinessNameLine10Morgan County Economic Development Corporation
ReturnHeader/Filer/BusinessNameControlTxt0MORG
ReturnHeader/Filer/EIN0840565221
ReturnHeader/Filer/PhoneNum09705423527
ReturnHeader/Filer/USAddress/AddressLine10231 Ensign Street Room B102
ReturnHeader/Filer/USAddress/City0Fort Morgan
ReturnHeader/Filer/USAddress/State0CO
ReturnHeader/Filer/USAddress/ZIPCode080701
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10Liittjohann Kauffman and Pederson
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10420 E Platte Avenue Ste A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Fort Morgan
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode080701
ReturnHeader/PreparerPersonGrp/PhoneNum09708674922
ReturnHeader/PreparerPersonGrp/PreparationDt02014-03-31
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0David Kauffman
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02014-03-31T03:58:47-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$133,948
Liabilities
$1,304
Net assets
$132,644
Revenue
$111,101
Expenses
$101,197
Net income
$9,904
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.69$0.21$1.48$0.56$0.46$0.10
2023Detailed filing. Detailed filing data is available for this year.$0.35$0.01$0.34$0.18$0.18$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.35$0.00$0.34$0.15$0.14$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.33$0.00$0.33$0.17$0.12$0.05
2020Detailed filing. Detailed filing data is available for this year.$0.28$0.00$0.27$0.16$0.09$0.07
2019Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.10$0.10$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.11$0.12$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.21$0.01$0.21$0.10$0.11$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.22$0.14$0.10$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.18$0.00$0.18$0.17$0.13$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.14$0.00$0.14$0.15$0.13$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.13$0.00$0.13$0.11$0.10$0.01
2012Summary only. Only limited summary data is available for this year.$0.12$0.00$0.12$0.12$0.10$0.02
2011Summary only. Only limited summary data is available for this year.$0.10$0.00$0.10$0.13$0.14$0.02
2010Summary only. Only limited summary data is available for this year.$0.12$0.00$0.12$0.10$0.13$0.02