Civic Intelligence

Smc Development Inc.

990 • Fiscal year 2021 • EIN 84-3832298

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

Organization ProfileN/A
1323 West 6TH AvenueStillwater, OK 74074

(405) 715-3959

Siviq Scores

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

Liabilities / Assets

84th percentile

0.71x

Higher debt load relative to assets than 84% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

99th percentile

41.92x

Higher debt load relative to revenue than 99% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

2nd percentile

-112%

Higher net margin than 2% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

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

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

8th percentile

-6.1%

Faster asset growth than 8% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

1st percentile

-95%

Faster revenue growth than 1% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$44,419,926

Down $2,876,139 (-6.1%) from 2020

Net Assets

Down

$12,746,170

Down $849,762 (-6.3%) from 2020

Liabilities

Down

$31,673,756

Down $2,026,377 (-6.0%) from 2020

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin2nd percentile

Revenue

Down

$755,645

Down $15,632,682 (-95%) from 2020

Expenses

Down

$1,605,407

Down $228,561 (-12%) from 2020

Net Income

Down

-$849,762

Down $15,404,121 (-106%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth8th percentile

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

$80M$60M$40M$20M$0Assets 2019: $29,772,816Liabilities 2019: $29,602,654Net Assets 2019: $170,1622019Assets 2020: $47,296,065Liabilities 2020: $33,700,133Net Assets 2020: $13,595,9322020Assets 2021: $44,419,926Liabilities 2021: $31,673,756Net Assets 2021: $12,746,1702021Assets 2022: $48,972,827Liabilities 2022: $37,113,638Net Assets 2022: $11,859,1892022Assets 2023: $47,420,754Liabilities 2023: $37,026,138Net Assets 2023: $10,394,6162023Assets 2024: $63,243,735Liabilities 2024: $56,826,138Net Assets 2024: $6,417,5972024

Highlighted filing

2021

Assets$44,419,926
Liabilities$31,673,756
Net Assets$12,746,170
Open 2021 Filing

Operations Trend

Revenue Growth1st percentile

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

$20M$10M$0-$10MRevenue 2019: $178,162Expenses 2019: $8,000Net Income 2019: $170,1622019Revenue 2020: $16,388,327Expenses 2020: $1,833,968Net Income 2020: $14,554,3592020Revenue 2021: $755,645Expenses 2021: $1,605,407Net Income 2021: -$849,7622021Revenue 2022: $1,128,608Expenses 2022: $2,015,589Net Income 2022: -$886,9812022Revenue 2023: $910,356Expenses 2023: $2,374,929Net Income 2023: -$1,464,5732023Revenue 2024: $1,660,237Expenses 2024: $5,637,256Net Income 2024: -$3,977,0192024

Highlighted filing

2021

Revenue$755,645
Expenses$1,605,407
Net Income-$849,762
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$755,645
Mission and Program Overview

Mission

To hold real and personal property for the benefit of stillwater medical center authority as it serves the surrounding community's health care needs.

The corporation is organized to own, hold, and manage real and personal property as a part of the charitable purposes of stillwater medical center authority.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$26,059,165$38,638,161▲ $12,578,996
Savings and Temporary Cash Investments$20,693,660$4,883,645▼ $15,810,015
Cash and Non-Interest-Bearing Accounts$5,442$360,322▲ $354,880
Accounts Receivable$33,185$33,185→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$47,296,065$44,419,926▼ $2,876,139
Other Assets Total$504,613$504,613→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$30,000,000$30,000,000→ $0
Accounts Payable and Accrued Expenses$3,700,133$1,673,756▼ $2,026,377
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$33,700,133$31,673,756▼ $2,026,377
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,595,932$12,746,170▼ $849,762
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$13,595,932$12,746,170▼ $849,762
Total Liabilities and Net Assets / Fund Balance$47,296,065$44,419,926▼ $2,876,139

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$25,838,502-$25,838,502
Buildings$12,799,659$2,645,991$15,445,650
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
Alan LovelacePresident
Kevin FowlerVice-president
Steven TaylorSecretary
Kari EassonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$750,000
Investment Income
$5,645
Other Revenue
$0
Change in Net Assets
$-849,762
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,605,407
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,222,786--$1,222,786
Interest$361,908--$361,908
Fees for Services Legal$20,713--$20,713
Total Functional Expenses$1,605,407$0$0$1,605,407
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

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

“Process to review form 990: a copy of the tax return is provided to the board at a regularly scheduled meeting.”

Form 990, Part VI, Section C, Line 19

“AVAILABILITY OF DOCUMENTS: THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, conflict of interest policy, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.”

Form 990, Part VI, Section A, Line 7A

“Power to elect or appoint one or more members of the governing body: the number of directors which shall constitute the whole board shall be not less than four, provided, at all times at least seventy-five percent of the members of the board shall be persons elected or appointed by the board of trustees of stillwater medical center authority (smca).”

Form 990, Part VI, Section A, Line 7B

“Governance decisions: subject to the foregoing limitation on the minimum number of directors, the board of trustees of smca may at any meeting determine the number which shall constitute the board of the corporation and the number so determined shall remain fixed until changed in the same manner.”

Form 990, Part VI, Section B, Line 12C

“Conflict of interest policy: smc development conforms to the conflict of interest policy of stillwater medical center authority. Officer(s) and board members are required to acknowledge the policy annually and to disclose any relationship that could give rise to conflicts of interest. When a conflict of interest arises, the conflicted person is prohibited from participating in discussions and must abstain from voting with regard to the matter giving rise to the conflict.”

Filing and Contact Details

Filer

Filer Name
SMC Development Inc
EIN
84-3832298
In Care Of
% ALAN LOVELACE
Phone
4057153959
Address
1323 West 6TH Avenue, Stillwater, OK 74074

Signing Officer

Name
Alan Lovelace
Title
President
Phone
4057153959
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alan Lovelace
Formed
2019
Legal Domicile
Ok
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Forvis Llp
Address
110 N Elgin Ave Suite 400, Tulsa, OK 74120-1490
Preparer
Jeanette Verrelli
Phone
9185842900
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“Committee that assumes oversight: the oversight over the audit, review, or compilation financial statements and the selection of the independent auditor is the responsibility of the board of trustees of smca.”

Financial Statement Notes

Schedule D, Part X, Line 2

“Asc 740 footnote: management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.”

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt01605407
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0STILLWATER MEDICAL CENTER AUTHORITY
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IRS990ScheduleA/SupportingOrgType1Ind0X
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt02645991
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt015445650
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt025838502
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt025838502
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ASC 740 FOOTNOTE: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PART X, LINE 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt038638161
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROCESS TO REVIEW FORM 990: A COPY OF THE TAX RETURN IS PROVIDED TO THE BOARD AT A REGULARLY SCHEDULED MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AVAILABILITY OF DOCUMENTS: THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, conflict of interest policy, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2POWER TO ELECT OR APPOINT ONE OR MORE MEMBERS OF THE GOVERNING BODY: THE NUMBER OF DIRECTORS WHICH SHALL CONSTITUTE THE WHOLE BOARD SHALL BE NOT LESS THAN FOUR, PROVIDED, AT ALL TIMES AT LEAST SEVENTY-FIVE PERCENT OF THE MEMBERS OF THE BOARD SHALL BE PERSONS ELECTED OR APPOINTED BY THE BOARD OF TRUSTEES OF STILLWATER MEDICAL CENTER AUTHORITY (SMCA).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNANCE DECISIONS: SUBJECT TO THE FOREGOING LIMITATION ON THE MINIMUM NUMBER OF DIRECTORS, THE BOARD OF TRUSTEES OF SMCA MAY AT ANY MEETING DETERMINE THE NUMBER WHICH SHALL CONSTITUTE THE BOARD OF THE CORPORATION AND THE NUMBER SO DETERMINED SHALL REMAIN FIXED UNTIL CHANGED IN THE SAME MANNER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMMITTEE THAT ASSUMES OVERSIGHT: THE OVERSIGHT OVER THE AUDIT, REVIEW, OR COMPILATION FINANCIAL STATEMENTS AND THE SELECTION OF THE INDEPENDENT AUDITOR IS THE RESPONSIBILITY OF THE BOARD OF TRUSTEES OF SMCA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONFLICT OF INTEREST POLICY: SMC DEVELOPMENT CONFORMS TO THE CONFLICT OF INTEREST POLICY OF STILLWATER MEDICAL CENTER AUTHORITY. OFFICER(S) AND BOARD MEMBERS ARE REQUIRED TO ACKNOWLEDGE THE POLICY ANNUALLY AND TO DISCLOSE ANY RELATIONSHIP THAT COULD GIVE RISE TO CONFLICTS OF INTEREST. WHEN A CONFLICT OF INTEREST ARISES, THE CONFLICTED PERSON IS PROHIBITED FROM PARTICIPATING IN DISCUSSIONS AND MUST ABSTAIN FROM VOTING WITH REGARD TO THE MATTER GIVING RISE TO THE CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0842581909
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0OK
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct00.00000
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0REAL ESTATE
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0SMC RE LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt01323 WEST 6TH ST
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0Stillwater
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0OK
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0STILLWATER MEDICAL CENTER AUTHORITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1SMC Equipment Inc
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HEALTHCARE
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt11323 West 6TH Avenue
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0STILLWATER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Stillwater
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1OK
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IRS990/TotalAssetsEOYAmt044419926
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IRS990/TotalContributionsAmt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01605407

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$44,419,926
Liabilities
$31,673,756
Net assets
$12,746,170
Revenue
$755,645
Expenses
$1,605,407
Net income
-$849,762
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$63.2$56.8$6.42$1.66$5.64$3.98
2023Detailed filing. Detailed filing data is available for this year.$47.4$37.0$10.4$0.91$2.37$1.46
2022Detailed filing. Detailed filing data is available for this year.$49.0$37.1$11.9$1.13$2.02$0.89
2021Detailed filing. Detailed filing data is available for this year.$44.4$31.7$12.7$0.76$1.61$0.85
2020Detailed filing. Detailed filing data is available for this year.$47.3$33.7$13.6$16.4$1.83$14.6
2019Detailed filing. Detailed filing data is available for this year.$29.8$29.6$0.17$0.18$0.01$0.17