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Covington County Economic Development Commission FY2020 filing

Not tax-deductible

Andalusia, AL501(c)(6)Since 1992EIN 62-1504373

To promote industry and develop trade by inducing manufacturing, and commercial enterprises to locate and/or expand in Coviington County, Alabama.

95¢ of each $1 spent went to programs.
$113K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · 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
2 of 5
filings with a surplus
Average surplus $17K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$113K
to officers and key staff · 25% of spending
Worth a look: pay to officers and key staff is 25% of spending; over 20%.
Pt VII · Sec A
Cash reserves
22 mo
of spending, in cash
Looks good: 22.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$687K
61% of total assets
Fine: liabilities are 61% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
18
of 19 voting members
Looks good: 18 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$561K
Spent
$451K
To programs
95%
Net assets
$444K
By yearFY2020–FY2024
Revenue
$561K
FY2020
Revenue by fiscal year
FY2020$561K
FY2021$645K
FY2022$540K
FY2023$475K
FY2024$498K
FY2024$532K
Expenses
$451K
FY2020
Expenses by fiscal year
FY2020$451K
FY2021$470K
FY2022$611K
FY2023$552K
FY2024$549K
FY2024$518K
Net assets
$444K
FY2020
Net assets by fiscal year
FY2020$444K
FY2021$618K
FY2022$548K
FY2023$471K
FY2024$572K
FY2024$586K

From the FY2020 Form 990 (year ending September 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1993.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $429K Management & general 5% · $23K

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

Who runs it and what they're paid

19 people listed on the 990; $113K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
James R Clifton
Executive Director
$113,083Pt VII · Sec A
Tim Loggins
Vice Chairmandirector
$0Pt VII · Sec A
Tom Lane
Sectreadirector
$0Pt VII · Sec A
Becky Bracke
Director
$0Pt VII · Sec A
Gary Smith
Director
$0Pt VII · Sec A
Jessie Self
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Covington County Economic Development Commission 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

Attracts businesses to boost manufacturing and commerce in Covington County, Alabama.

Provided by the organization

This section is blank until Covington County Economic Development Commission claims this page.

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1 program service account for $429K of program spending, described in the organization's own filed words · FY2019.
01

See organizations mission statement.

$429Kprogram expense

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By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$561K
Ln 12
Gifts and grantsLn 1h$421K
Other incomeLn 4–11$139K
Investment incomeLn 3$903
Money outPt IX
$451K
Ln 25
Programscol B$429K
Managementcol C$23K
Owns and owesPt X
$444K
net assets · Ln 32
Cash and savingsLn 1–2$843K
Total assetsLn 16$1.1M
LiabilitiesLn 26$687K
PeoplePt VI, VII
19
listed · VII A
PaidVII A1
Voting boardVI 1a19
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$421K
Government grantsLn 1e$52K
Investment incomeLn 3$903
Other incomeLn 4–11$139K
Total revenueLn 12$561K
Assets in detailPt X, end of year
CashLn 1$522K
SavingsLn 2$320K
Cash and savings togetherLn 1–2$843K
Land, buildings, equipmentLn 10c$219K
Total assetsLn 16$1.1M
LiabilitiesLn 26$687K
Net assetsLn 32$444K
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$870K$843K
Land, buildings, equipmentLn 10c$215K$219K
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$751K$687K
Net assetsLn 32$334K$444K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$114K$114K
Other salaries and wagesLn 7$55K$55K
Pension plan contributionsLn 8$3K$3K
Payroll taxesLn 10$13K$13K
Accounting feesLn 11c$5K$5K
Advertising and promotionLn 12$88$88
Office expensesLn 13$12K$6K$6K
Information technologyLn 14$6K$3K$3K
OccupancyLn 16$30K$30K
TravelLn 17$65K$65K
Conferences, conventions and meetingsLn 19$34K$34K
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$97K$97K
All other expensesLn 24e$6K$6K
Total functional expensesLn 25$451K$429K$23K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $498K$549K−$51K$572K 990 PDF
FY2023 $475K$552K−$77K$471K 990 PDF
FY2022 $540K$611K−$71K$548K 990 PDF
FY2021 $645K$470K$174K$618K 990 PDF
FY2020 Viewing $561K$451K$110K$444K 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 FY2020 990 (4 parts)
Part VIII · Statement of revenue $561,112 across 7 lines filed
VIII-1e Government grants$52,100
VIII-1f All other contributions, gifts and grants$368,954
VIII-1h Total contributions, gifts and grants$421,054
VIII-3 Investment incomeRelated to mission $903$903
VIII-6 Net rental income or lossRelated to mission $975$975
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $138,180$138,180
VIII-12 Total revenueRelated to mission $140,058 · Unrelated business $0 · Excluded from tax $0$561,112
Part IX · Statement of functional expenses $451,204 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $114,083$114,083
IX-7 Other salaries and wagesPrograms $55,083$55,083
IX-8 Pension plan contributionsPrograms $2,700$2,700
IX-10 Payroll taxesPrograms $13,125$13,125
IX-11c Accounting feesManagement $5,400$5,400
IX-12 Advertising and promotionManagement $88$88
IX-13 Office expensesPrograms $6,030 · Management $6,031$12,061
IX-14 Information technologyPrograms $3,119 · Management $3,119$6,238
IX-16 OccupancyPrograms $30,257$30,257
IX-17 TravelPrograms $65,184$65,184
IX-19 Conferences, conventions and meetingsPrograms $34,045$34,045
IX-22 Depreciation, depletion and amortizationPrograms $1,611$1,611
IX-23 InsuranceManagement $7,943$7,943
IX-24 Other expenses (24a–d)Programs $97,379$97,379
IX-24e All other expensesPrograms $6,007$6,007
IX-25 Total functional expensesPrograms $428,623 · Management $22,581 · Fundraising $0$451,204
Part X · Balance sheet $1,131,267 assets, 9 lines filed
Asset lines not itemized here account for $69,276; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $349,925$522,482
X-2 Savings and temporary cash investmentsStart of year $519,837$320,189
X-10c Land, buildings and equipment, netStart of year $215,418$219,320
X-16 Total assetsStart of year $1,085,180$1,131,267
X-17 Accounts payable and accrued expensesStart of year $10,592$5,593
X-25 Other liabilitiesStart of year $740,575$681,753
X-26 Total liabilitiesStart of year $751,167$687,346
X-32 Total net assets or fund balancesStart of year $334,013$443,921
X-33 Total liabilities and net assetsStart of year $1,085,180$1,131,267
Part XI · Reconciliation of net assets $443,921 net assets at year end
XI-1 Total revenue$561,112
XI-2 Total expenses$451,204
XI-3 Revenue less expenses$109,908
XI-4 Net assets at start of year$334,013
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$443,921

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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