Civic Intelligence

Lincoln County Economic Development Corporation

990 • Fiscal year 2023 • EIN 94-3206648

Jul 01, 2022 to Jun 30, 2023 • Filed on May 09, 2024

Organization ProfileN/A
PO Box 716Newport, OR 97365

(541) 265-4544

Siviq Scores

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

Liabilities / Assets

11th percentile

0.00x

Higher debt load relative to assets than 11% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

11th percentile

0.00x

Higher debt load relative to revenue than 11% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Net Margin

99th percentile

74%

Higher net margin than 99% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

27th percentile

$0

Higher top officer pay than 27% of similar nonprofits.

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

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Asset Growth

100th percentile

980%

Faster asset growth than 100% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

100th percentile

1173%

Faster revenue growth than 100% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets11th percentile

Assets

Up

$945,218

Up $857,675 (+980%) from 2022

Net Assets

Up

$945,217

Up $857,674 (+980%) from 2022

Liabilities

$1

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin99th percentile

Revenue

Up

$1,160,682

Up $1,069,487 (+1173%) from 2022

Expenses

Up

$303,008

Up $150,661 (+99%) from 2022

Net Income

Up

$857,674

Up $918,826 (+1503%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$1.0M$500K$0Assets 2012: $87,508Liabilities 2012: $1,173Net Assets 2012: $86,3352012Assets 2013: $88,366Liabilities 2013: $1,354Net Assets 2013: $87,0122013Assets 2014: $83,640Liabilities 2014: $1,304Net Assets 2014: $82,3362014Assets 2015: $64,403Liabilities 2015: $1,152Net Assets 2015: $63,2512015Assets 2016: $67,927Liabilities 2016: $1,289Net Assets 2016: $66,6382016Assets 2017: $91,497Liabilities 2017: $1,376Net Assets 2017: $90,1212017Assets 2018: $99,803Liabilities 2018: $1,508Net Assets 2018: $98,2952018Assets 2019: $109,347Liabilities 2019: $2,994Net Assets 2019: $106,3532019Assets 2020: $192,529Liabilities 2020: $1,891Net Assets 2020: $190,6382020Assets 2021: $148,695Net Assets 2021: $148,6952021Assets 2022: $87,543Net Assets 2022: $87,5432022Assets 2023: $945,218Liabilities 2023: $1Net Assets 2023: $945,2172023Assets 2024: $692,436Liabilities 2024: $0Net Assets 2024: $692,4362024

Highlighted filing

2023

Assets$945,218
Liabilities$1
Net Assets$945,217
Open 2023 Filing

Operations Trend

Revenue Growth100th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2012: $170,5492012Expenses 2013: $156,3212013Revenue 2014: $105,229Expenses 2014: $110,642Net Income 2014: -$5,4132014Revenue 2015: $106,455Expenses 2015: $125,540Net Income 2015: -$19,0852015Revenue 2016: $124,301Expenses 2016: $120,445Net Income 2016: $3,8562016Revenue 2017: $192,674Expenses 2017: $169,191Net Income 2017: $23,4832017Revenue 2018: $138,087Expenses 2018: $130,076Net Income 2018: $8,0112018Revenue 2019: $178,803Expenses 2019: $169,940Net Income 2019: $8,8632019Revenue 2020: $199,948Expenses 2020: $116,205Net Income 2020: $83,7432020Revenue 2021: $105,485Expenses 2021: $147,478Net Income 2021: -$41,9932021Revenue 2022: $91,195Expenses 2022: $152,347Net Income 2022: -$61,1522022Revenue 2023: $1,160,682Expenses 2023: $303,008Net Income 2023: $857,6742023Revenue 2024: $262,084Expenses 2024: $544,865Net Income 2024: -$282,7812024

Highlighted filing

2023

Revenue$1,160,682
Expenses$303,008
Net Income$857,674
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 9, 2024
Return Version
2022v5.0
Gross Receipts
$1,160,682
Mission and Program Overview

Mission

To deliver economic development services to facilitate creation, growth and retention of lincoln county businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$87,543$945,217▲ $857,674
Savings and Temporary Cash Investments$33,067$33,070▲ $3
Cash and Non-Interest-Bearing Accounts$53,377$23,277▼ $30,100
Prepaid Expenses and Deferred Charges$1,099$1,099→ $0
Total Assets$87,543$945,218▲ $857,675
Other Assets Total-$887,772-
Liabilities
Accounts Payable and Accrued Expenses-$1-
Total Liabilities$0$1▲ $1
Net Assets / Fund Balance
Total Net Assets Fund Balance$87,543$945,217▲ $857,674
Total Liabilities and Net Assets / Fund Balance$87,543$945,218▲ $857,675

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$5,538$5,538
Other Assets Org$887,772--
Compensation and Service Providers
Top Officer Pay27th percentile

Board Members and Trustees

NameTitle
Birgitte RyslingePresident
Robert CowenVice Chair
Bryan FitzsimmonsBoard Member
Carrie LewisBoard Member
Doug HolbrookBoard Member
Jason HollandBoard Member
Kaety JacobsonBoard Member
Karen GrayBoard Member
Linda RoyBoard Member
Paula MirandaBoard Member
Tracy Anthony BaileyPast Preside
Lesley OgdenSecretary
Michael SmithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,160,679
Program Service Revenue
$0
Investment Income
$3
Other Revenue
$0
Change in Net Assets
$857,674
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$260,404
Other Expenses$42,604
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$128,687$85,791-$214,478
Other Employee Benefits$27,650--$27,650
Payroll Taxes-$18,276-$18,276
Occupancy$11,998--$11,998
Conferences and Meetings$7,567--$7,567
Fees for Services Accounting-$5,112-$5,112
Fees for Services Other$4,000--$4,000
Advertising$2,626--$2,626
Travel$2,571--$2,571
Insurance$1,466--$1,466
Other Expenses$1,439--$1,439
Total Functional Expenses$193,829$109,179$0$303,008
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The executive director reviews the form 990 before the return is final.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Lincoln County Economic Development
EIN
94-3206648
Address
PO BOX 716, NEWPORT, OR 97365

Signing Officer

Name
Paul Schuytema
Title
Executive Director
Phone
5418678579
Signed
2024-05-09

Organization Details

Principal Officer
Paul Schuytema
Formed
1995
Legal Domicile
Or
Voting Board Members
13
Independent Board Members
13
Employees
3

Preparer

Firm
Bryan P Fitzsimmons CPA
Address
2015 NW 39TH STREET SUITE 200, LINCOLN CITY, OR 97367
Preparer
Bryan P Fitzsimmons
Phone
5419943333
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“4.yaquina bay ocean observing initiative: we support an economic development strategy to make newport a hub for all ocean related science and technology in the pacific northwest. There is now increasing scientific and economic activity in our region. In addition to the marine studies cam pus soon to be underway, ocean observing, marine education, and boat building continue to be strengths. 5.enterprise zone management: we provide information for qualifying companies (certain industries) to take advantage of this tax incentive offered by the state of oregon. Qualified applications are submitted and reviewed locally. 6.active partnerships: the edalc is an active partner with chambers, small business development, and the yaquina bay economic foundation. With usda support, we are focusing on marine related industry in our county to create an industry cluster of supportive economic activity for seafood products, scientific research, and renewable energy. We are serving entrepreneurs and local startups, through working with rain (regional accelerator and innovation network to provide support for them.”

Form 990, Part XI, Line 9

“PY ADJUSTMENTS 0”

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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/ProgSrvcAccomActy2Grp/Desc0COMMUNITY AND ECONOMIC DEVELOPMENT GRANT REVIEW: THE BOARD OF DIRECTORS SERVES AS THE REVIEW COMMITTEE FOR THE LINCOLN COUNTY COMMUNITY AND ECONOMIC DEVELOPMENT GRANT FUND. THE ALLIANCE BOARD REPORTS TO THE BOARD OF COMMISSIONERS AND DELIVERS ITS RECOMMENDATIONS. THE CRITERIA ARE UPDATED AND REFINED PERIODICALLY AND EXECUTIVE DIRECTOR CAROLINE BAUMAN HOLDS TRAIN ING SEMINARS FOR GRANT APPLICANTS TO ASSIST IN THEIR SUCCESS.
IRS990/ProgSrvcAccomActy3Grp/Desc0SOURCE OF INFORMATION TO THE PUBLIC: WE PROVIDE INFORMATION TO PROSPECTIVE BUSINESS OWNERS, CURRENT OWNERS/MANAGERS, AND THE PUBLIC ON THE BUSINESS CLIMATE. WE MAINTAIN A LIST OF DEVELOP ABLE PROPERTIES AND ASSIST IN MARKETING AS NEEDED.
IRS990/ProgSrvcAccomActyOtherGrp/Desc04.YAQUINA BAY OCEAN OBSERVING INITIATIVE: WE SUPPORT AN ECONOMIC DEVELOPMENT STRATEGY TO MAKE NEWPORT A HUB FOR ALL OCEAN RELATED SCIENCE AND TECHNOLOGY IN THE PACIFIC NORTHWEST. THERE IS NOW INCREASING SCIENTIFIC AND ECONOMIC ACTIVITY IN OUR REGION. IN ADDITION TO THE MARINE STUDIES CAM PUS SOON TO BE UNDERWAY, OCEAN OBSERVING, MARINE EDUCATION, AND BOAT BUILDING CONTINUE TO BE STRENGTHS. 5.ENTERPRISE ZONE MANAGEMENT: WE PROVIDE INFORMATION FOR QUALIFYING COMPANIES (CERTAIN INDUSTRIES) TO TAKE ADVANTAGE OF THIS TAX INCENTIVE OFFERED BY THE STATE OF OREGON. QUALIFIED APPLICATIONS ARE SUBMITTED AND REVIEWED LOCALLY. 6.ACTIVE PARTNERSHIPS: THE EDALC IS AN ACTIVE PARTNER WITH CHAMBERS, SMALL BUSINESS DEVELOPMENT, AND THE YAQUINA BAY ECONOMIC FOUNDATION. WITH USDA SUPPORT, WE ARE FOCUSING ON MARINE RELATED INDUSTRY IN OUR COUNTY TO CREATE AN INDUSTRY CLUSTER OF SUPPORTIVE ECONOMIC ACTIVITY FOR SEAFOOD PRODUCTS, SCIENTIFIC RESEARCH, AND RENEWABLE ENERGY. WE ARE SERVING ENTREPRENEURS AND LOCAL STARTUPS, THROUGH WORKING WITH RAIN (REGIONAL ACCELERATOR AND INNOVATION NETWORK TO PROVIDE SUPPORT FOR THEM.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt04.YAQUINA BAY OCEAN OBSERVING INITIATIVE: WE SUPPORT AN ECONOMIC DEVELOPMENT STRATEGY TO MAKE NEWPORT A HUB FOR ALL OCEAN RELATED SCIENCE AND TECHNOLOGY IN THE PACIFIC NORTHWEST. THERE IS NOW INCREASING SCIENTIFIC AND ECONOMIC ACTIVITY IN OUR REGION. IN ADDITION TO THE MARINE STUDIES CAM PUS SOON TO BE UNDERWAY, OCEAN OBSERVING, MARINE EDUCATION, AND BOAT BUILDING CONTINUE TO BE STRENGTHS. 5.ENTERPRISE ZONE MANAGEMENT: WE PROVIDE INFORMATION FOR QUALIFYING COMPANIES (CERTAIN INDUSTRIES) TO TAKE ADVANTAGE OF THIS TAX INCENTIVE OFFERED BY THE STATE OF OREGON. QUALIFIED APPLICATIONS ARE SUBMITTED AND REVIEWED LOCALLY. 6.ACTIVE PARTNERSHIPS: THE EDALC IS AN ACTIVE PARTNER WITH CHAMBERS, SMALL BUSINESS DEVELOPMENT, AND THE YAQUINA BAY ECONOMIC FOUNDATION. WITH USDA SUPPORT, WE ARE FOCUSING ON MARINE RELATED INDUSTRY IN OUR COUNTY TO CREATE AN INDUSTRY CLUSTER OF SUPPORTIVE ECONOMIC ACTIVITY FOR SEAFOOD PRODUCTS, SCIENTIFIC RESEARCH, AND RENEWABLE ENERGY. WE ARE SERVING ENTREPRENEURS AND LOCAL STARTUPS, THROUGH WORKING WITH RAIN (REGIONAL ACCELERATOR AND INNOVATION NETWORK TO PROVIDE SUPPORT FOR THEM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE DIRECTOR REVIEWS THE FORM 990 BEFORE THE RETURN IS FINAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PY ADJUSTMENTS 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PAUL SCHUYTEMA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05418678579
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LINCOLN COUNTY ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0LINC
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BRYAN P FITZSIMMONS CPA
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRYAN P FITZSIMMONS
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-05-14T18:47:08-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PAUL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SCHUYTEMA
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$945,218
Liabilities
$1
Net assets
$945,217
Revenue
$1,160,682
Expenses
$303,008
Net income
$857,674
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.69$0.00$0.69$0.26$0.54$0.28
2023Detailed filing. Detailed filing data is available for this year.$0.95$0.00$0.95$1.16$0.30$0.86
2022Detailed filing. Detailed filing data is available for this year.$0.09$0.09$0.09$0.15$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.15$0.15$0.11$0.15$0.04
2020Detailed filing. Detailed filing data is available for this year.$0.19$0.00$0.19$0.20$0.12$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.11$0.18$0.17$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$0.14$0.13$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.09$0.00$0.09$0.19$0.17$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$0.12$0.12$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.11$0.13$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.08$0.00$0.08$0.11$0.11$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.00$0.09$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.00$0.09$0.17