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Broken Arrow Economic Developmentcorporation

Not tax-deductible

Broken Arrow, OK501(c)(6)Community DevelopmentEIN 20-5872308

To create and/or operate citywide and multi-county economic development programs and activities that result in the creation and retention of jobs and capital within the City of Broken Arrow and surrounding area.

61¢ of each $1 spent went to programs.
Run by 91 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $243K a year · 23% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
61%
of spending
Worth a look: 61% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$186K
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$645K
-39% vs prior year
Spent
$869K
To programs
61%
Net assets
$1.3M
By yearFY2020–FY2024
Revenue
$645K
FY2024▼ -39%
Revenue by fiscal year
FY2020$766K
FY2021$633K
FY2022$2.1M
FY2023$1.1M
FY2024$645K
Expenses
$869K
FY2024▼ -11%
Expenses by fiscal year
FY2020$715K
FY2021$632K
FY2022$823K
FY2023$979K
FY2024$869K
Net assets
$1.3M
FY2024▼ -14%
Net assets by fiscal year
FY2020$171K
FY2021$172K
FY2022$1.5M
FY2023$1.6M
FY2024$1.3M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

61 cents of each dollar spent went to programs.

Program services 61% · $529K Management & general 22% · $187K Fundraising 18% · $153K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation
Davis Robson
Chairman
$0Pt VII · Sec A
Gregory Graham
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Brandy Moore
Treasurer
$0Pt VII · Sec A
Ben Buie
Chamber Representative
$0Pt VII · Sec A
Steve Allen
Baps Representative
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Broken Arrow Economic Developmentcorporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Drives job creation and capital investment through citywide economic development programs.

Provided by the organization

This section is blank until Broken Arrow Economic Developmentcorporation claims this page.

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1 program service account for $529K of program spending, described in the organization's own filed words · FY2024.
01

Promoted economic development and business investment in Broken Arrow and the surrounding region

$529Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Ttcu Cares Foundation INCFY2023$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 3 grants · $135K · 2022–2024
The Northeastern State University Foundation INCOK · FY2024$96,795
Chart ConsultingFY2023$14,400
Site Selection Group LLCFY2022$24,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$645K
Ln 12
Fees for servicesLn 2g$594K
Gifts and grantsLn 1h$46K
Investment incomeLn 3$5K
Money outPt IX
$869K
Ln 25
Programscol B$529K
Managementcol C$187K
Fundraisingcol D$153K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$460K
Total assetsLn 16$1.5M
LiabilitiesLn 26$186K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$46K
Fees for servicesLn 2g$594K
Investment incomeLn 3$5K
Total revenueLn 12$645K
Assets in detailPt X, end of year
CashLn 1$460K
Cash and savings togetherLn 1–2$460K
InvestmentsLn 11–13$102K
Land, buildings, equipmentLn 10c$12K
Total assetsLn 16$1.5M
LiabilitiesLn 26$186K
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 691
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$486K$460K
InvestmentsLn 11–13$101K$102K
Land, buildings, equipmentLn 10c$14K$12K
Total assetsLn 16$1.8M$1.5M
LiabilitiesLn 26$258K$186K
Net assetsLn 32$1.6M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$103K$103K
Management feesLn 11a$488K$269K$108K$112K
Accounting feesLn 11c$38K$38K
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$37K$28K$8K$1K
Information technologyLn 14$79K$79K
TravelLn 17$25K$18K$7K
Conferences, conventions and meetingsLn 19$47K$8K$40K
InterestLn 20$18K$18K
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$17K$17K
All other expensesLn 24e$8K$914$7K
Total functional expensesLn 25$869K$529K$187K$153K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $645K$869K−$224K$1.3M 990 PDF
FY2023 $1.1M$979K$73K$1.6M 990 PDF
FY2022 $2.1M$823K$1.3M$1.5M 990 PDF
FY2021 $633K$632K$1K$172K 990 PDF
FY2020 $766K$715K$51K$171K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $645,326 across 5 lines filed
VIII-1f All other contributions, gifts and grants$46,391
VIII-1h Total contributions, gifts and grants$46,391
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $594,004$594,004
VIII-3 Investment incomeExcluded from tax $4,931$4,931
VIII-12 Total revenueRelated to mission $594,004 · Unrelated business $0 · Excluded from tax $4,931$645,326
Part IX · Statement of functional expenses $869,147 across 13 lines filed
IX-1 Grants to domestic organizationsPrograms $102,609$102,609
IX-11a Management feesPrograms $268,585 · Management $107,678 · Fundraising $111,656$487,919
IX-11c Accounting feesManagement $38,150$38,150
IX-12 Advertising and promotionPrograms $5,850$5,850
IX-13 Office expensesPrograms $28,000 · Management $8,122 · Fundraising $1,206$37,328
IX-14 Information technologyPrograms $78,533$78,533
IX-17 TravelPrograms $18,137 · Management $6,687$24,824
IX-19 Conferences, conventions and meetingsPrograms $7,749 · Fundraising $39,704$47,453
IX-20 InterestManagement $17,649$17,649
IX-22 Depreciation, depletion and amortizationManagement $1,758$1,758
IX-23 InsurancePrograms $1,708$1,708
IX-24 Other expenses (24a–d)Programs $17,161$17,161
IX-24e All other expensesPrograms $914 · Management $7,291$8,205
IX-25 Total functional expensesPrograms $529,246 · Management $187,335 · Fundraising $152,566$869,147
Part X · Balance sheet $1,520,210 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $486,011$459,541
X-3 Pledges and grants receivableStart of year $1,215,310$947,197
X-10c Land, buildings and equipment, netStart of year $13,718$11,960
X-12 Other securitiesStart of year $101,004$101,512
X-16 Total assetsStart of year $1,816,043$1,520,210
X-17 Accounts payable and accrued expensesStart of year $487$2,786
X-19 Deferred revenueStart of year $22,480$7,679
X-26 Total liabilitiesStart of year $258,366$186,354
X-27 Net assets without donor restrictionsStart of year $271,275$210,186
X-28 Net assets with donor restrictionsStart of year $1,286,402$1,123,670
X-32 Total net assets or fund balancesStart of year $1,557,677$1,333,856
X-33 Total liabilities and net assetsStart of year $1,816,043$1,520,210
Part XI · Reconciliation of net assets $1,333,856 net assets at year end
XI-1 Total revenue$645,326
XI-2 Total expenses$869,147
XI-3 Revenue less expenses−$223,821
XI-4 Net assets at start of year$1,557,677
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,333,856

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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