Civic Intelligence

Smc Development Inc.

990 • Fiscal year 2022 • EIN 84-3832298

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

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

86th percentile

0.76x

Higher debt load relative to assets than 86% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

99th percentile

32.88x

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

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

4th percentile

-79%

Higher net margin than 4% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

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.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

72nd percentile

10%

Faster asset growth than 72% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

87th percentile

49%

Faster revenue growth than 87% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$48,972,827

Up $4,552,901 (+10%) from 2021

Net Assets

Down

$11,859,189

Down $886,981 (-7.0%) from 2021

Liabilities

Up

$37,113,638

Up $5,439,882 (+17%) from 2021

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin4th percentile

Revenue

Up

$1,128,608

Up $372,963 (+49%) from 2021

Expenses

Up

$2,015,589

Up $410,182 (+26%) from 2021

Net Income

Down

-$886,981

Down $37,219 (-4.4%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth72nd 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

2022

Assets$48,972,827
Liabilities$37,113,638
Net Assets$11,859,189
Open 2022 Filing

Operations Trend

Revenue Growth87th 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

2022

Revenue$1,128,608
Expenses$2,015,589
Net Income-$886,981
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$1,128,608
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 part of the chasitable purposes of Stillwater Medical Center Authority.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$38,638,161$47,335,555▲ $8,697,394
Savings and Temporary Cash Investments$4,883,645$0▼ $4,883,645
Cash and Non-Interest-Bearing Accounts$360,322$1,099,474▲ $739,152
Accounts Receivable$33,185$33,185→ $0
Total Assets$44,419,926$48,972,827▲ $4,552,901
Other Assets Total$504,613$504,613→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$30,000,000$37,000,000▲ $7,000,000
Accounts Payable and Accrued Expenses$1,673,756$113,638▼ $1,560,118
Total Liabilities$31,673,756$37,113,638▲ $5,439,882
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,746,170$11,859,189▼ $886,981
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$12,746,170$11,859,189▼ $886,981
Total Liabilities and Net Assets / Fund Balance$44,419,926$48,972,827▲ $4,552,901

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$36,080,461-$36,080,461
Buildings$11,255,094$4,190,556$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
$1,116,667
Investment Income
$11,941
Other Revenue
$0
Change in Net Assets
$-886,981
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,015,589
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$1,544,565--$1,544,565
Interest$361,908--$361,908
Fees for Services Legal$109,107--$109,107
Fees for Services Other-$9-$9
Total Functional Expenses$2,015,580$9$0$2,015,589
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
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 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 personselected 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 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 B, line 12C

“Conflict of interst 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.”

Form 990, Part VI, Section C, line 19

“Availability of documents: The organization does not make its governing documents, conflict of interst policy, or financial statements available to the public.”

Filing and Contact Details

Filer

Filer Name
SMC Development Inc
EIN
84-3832298
Phone
4057153959
Address
1323 West 6TH Avenue, Stillwater, OK 74074
Doing Business As
Alan Lovelace

Signing Officer

Name
Alan Lovelace
Title
CFO
Phone
4057153959
Signed
2023-11-14

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
Durbin & Company LLP
Address
101 W RENNER, Richardson, TX 75082
Preparer
Davis Tommy
Phone
8067911591
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Section B, 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.”

Raw XML Appendix390 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Power 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 personselected or appointed by the board of trustees of Stillwater Medical Center Authority (SMCA).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Governance 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/ExplanationTxt2Process to review form 990: A copy of the tax return is provided to the board at a regularly scheduled meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Conflict of interst 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/ExplanationTxt4Availability of documents: The organization does not make its governing documents, conflict of interst policy, or financial statements available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Committee 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/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XII, Section B, Line 2C
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt01323 West 6TH St
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0Stillwater
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0OK
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd074074
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd11
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0SMCA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Stillwater Medical Center Authority
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1SMC Equipment Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0730927647
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1831342710
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0GOVT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1OK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Healthcare
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1Rent - Medical
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1Line 12a, I
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01323 West 6TH Avenue
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt11323 West 6TH Avenue
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Stillwater
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Stillwater
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0OK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1OK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd074074
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd174074
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0OK
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt044419926
IRS990/TotalAssetsEOYAmt048972827
IRS990/TotalAssetsGrp/BOYAmt044419926
IRS990/TotalAssetsGrp/EOYAmt048972827
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt09
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02015580
IRS990/TotalFunctionalExpensesGrp/TotalAmt02015589
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt031673756
IRS990/TotalLiabilitiesEOYAmt037113638
IRS990/TotalLiabilitiesGrp/BOYAmt031673756
IRS990/TotalLiabilitiesGrp/EOYAmt037113638
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt012746170
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011859189
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02015580
IRS990/TotalProgramServiceRevenueAmt01116667
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt011941
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01116667
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01128608
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt044419926
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt048972827
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/USAddress/AddressLine1Txt01323 West 6TH Avenue
IRS990/USAddress/CityNm0Stillwater
IRS990/USAddress/StateAbbreviationCd0OK
IRS990/USAddress/ZIPCd074074
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Alan Lovelace
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum04057153959
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SMC Development Inc
ReturnHeader/Filer/BusinessNameControlTxt0SMCD
ReturnHeader/Filer/EIN0843832298
ReturnHeader/Filer/PhoneNum04057153959
ReturnHeader/Filer/USAddress/AddressLine1Txt01323 West 6TH Avenue
ReturnHeader/Filer/USAddress/CityNm0Stillwater
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OK
ReturnHeader/Filer/USAddress/ZIPCd074074
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Durbin & Company LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0101 W RENNER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Richardson
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075082
ReturnHeader/PreparerPersonGrp/PhoneNum08067911591
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVIS TOMMY
ReturnHeader/ReturnTs02023-11-14T15:31:00-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Alan
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Lovelace
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$48,972,827
Liabilities
$37,113,638
Net assets
$11,859,189
Revenue
$1,128,608
Expenses
$2,015,589
Net income
-$886,981
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