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Covington County Economic Development Commission FY2022 filing

Not tax-deductible

Andalusia, AL501(c)(6)Since 1992EIN 62-1504373Revenue $540K in FY2022

On file with the IRScovingtoncountyedc.com21754 Bill Benton Ln, 36421-3702 · Andalusia, ALTax-exempt since Oct 1993

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

97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2022 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $17K a year · 3% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 3.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$477K
47% of total assets
Looks good: liabilities are 47% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 17 voting members
Looks good: 16 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$540K
-16% vs prior year
Spent
$611K
To programs
97%
Net assets
$548K
By yearFY2020–FY2025
Revenue
$540K
FY2022▼ -16%
Tap a bar for its year
Revenue by fiscal year
FY2020$561K
FY2021$645K
FY2022$540K
FY2023$475K
FY2024$498K
FY2025$532K
Expenses
$611K
FY2022▲ +30%
Tap a bar for its year
Expenses by fiscal year
FY2020$451K
FY2021$470K
FY2022$611K
FY2023$552K
FY2024$549K
FY2025$518K
Net assets
$548K
FY2022▼ -11%
Tap a bar for its year
Net assets by fiscal year
FY2020$444K
FY2021$618K
FY2022$548K
FY2023$471K
FY2024$572K
FY2025$586K

From the FY2022 Form 990 (year ending September 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1993.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $590K Management & general 3% · $21K

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

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Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Terry Holley
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Ricky Jones
Director
$0Pt VII · Sec A
Greg White
Director
$0Pt VII · Sec A
Kiel Odom
Director
$0Pt VII · Sec A
$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.

Questions for Covington County Economic Development Commission

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Provided by the organization

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1 program · $590K · in their own filed words · FY2021
01

See organizations mission statement.

$590Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$540K
Ln 12
Gifts and grantsLn 1h$474K
Other incomeLn 4–11$66K
Investment incomeLn 3$9K
Money outPt IX
$611K
Ln 25
Programscol B$590K
Managementcol C$21K
Owns and owesPt X
$548K
net assets · Ln 32
Cash and savingsLn 1–2$197K
Total assetsLn 16$1.0M
LiabilitiesLn 26$477K
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a17
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$474K
Government grantsLn 1e$59K
Investment incomeLn 3$9K
Other incomeLn 4–11$66K
Gains on assetsLn 7−$32K
Total revenueLn 12$540K
Assets in detailPt X, end of year
CashLn 1$59K
SavingsLn 2$139K
Cash and savings togetherLn 1–2$197K
InvestmentsLn 11–13$416K
Land, buildings, equipmentLn 10c$223K
Total assetsLn 16$1.0M
LiabilitiesLn 26$477K
Net assetsLn 32$548K
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 FY22End FY22
Cash and savingsLn 1–2$295K$197K
InvestmentsLn 11–13$445K$416K
Land, buildings, equipmentLn 10c$227K$223K
Total assetsLn 16$1.2M$1.0M
LiabilitiesLn 26$549K$477K
Net assetsLn 32$618K$548K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$121K$121K
Other salaries and wagesLn 7$62K$62K
Pension plan contributionsLn 8$3K$3K
Payroll taxesLn 10$14K$14K
Accounting feesLn 11c$5K$5K
Advertising and promotionLn 12$36$36
Office expensesLn 13$9K$4K$4K
Information technologyLn 14$5K$3K$3K
OccupancyLn 16$23K$23K
TravelLn 17$101K$101K
Conferences, conventions and meetingsLn 19$78K$78K
Depreciation, depletion and amortizationLn 22$4K$4K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$145K$145K
All other expensesLn 24e$32K$32K
Total functional expensesLn 25$611K$590K$21K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $532K$518K$14K$586K 990 PDF
FY2024 $498K$549K−$51K$572K 990 PDF
FY2023 $475K$552K−$77K$471K 990 PDF
FY2022 Viewing $540K$611K−$71K$548K 990 PDF
FY2021 $645K$470K$174K$618K 990 PDF
FY2020 $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 FY2022 990 (6 parts)
Part I · Summary $539,970 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $455,858$474,024
I-9 Program service revenue$0
I-10 Investment incomePrior year $1,024−$22,932
I-11 Other revenuePrior year $187,909$88,878
I-12 Total revenuePrior year $644,791$539,970
I-13 Grants and similar amounts paidPrior year $12,340$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $192,766$200,277
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $265,236$410,243
I-18 Total expensesPrior year $470,342$610,520
I-19 Revenue less expensesPrior year $174,449−$70,550
Part VI · Governance 16 of 17 board members independent, 4 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members16
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $539,970 across 8 lines filed
VIII-1e Government grants$59,300
VIII-1f All other contributions, gifts and grants$414,724
VIII-1h Total contributions, gifts and grants$474,024
VIII-3 Investment incomeRelated to mission $9,119$9,119
VIII-6 Net rental income or lossRelated to mission $37,352$37,352
VIII-7 Net gain or loss on sales of assetsRelated to mission −$32,051−$32,051
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $51,526$51,526
VIII-12 Total revenueRelated to mission $65,946 · Unrelated business $0 · Excluded from tax $0$539,970
Part IX · Statement of functional expenses $610,520 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $121,073$121,073
IX-7 Other salaries and wagesPrograms $62,073$62,073
IX-8 Pension plan contributionsPrograms $2,925$2,925
IX-10 Payroll taxesPrograms $14,206$14,206
IX-11c Accounting feesManagement $5,050$5,050
IX-12 Advertising and promotionManagement $36$36
IX-13 Office expensesPrograms $4,490 · Management $4,489$8,979
IX-14 Information technologyPrograms $2,648 · Management $2,648$5,296
IX-16 OccupancyPrograms $22,507$22,507
IX-17 TravelPrograms $101,309$101,309
IX-19 Conferences, conventions and meetingsPrograms $78,134$78,134
IX-22 Depreciation, depletion and amortizationPrograms $3,527$3,527
IX-23 InsuranceManagement $8,602$8,602
IX-24 Other expenses (24a–d)Programs $145,070$145,070
IX-24e All other expensesPrograms $31,733$31,733
IX-25 Total functional expensesPrograms $589,695 · Management $20,825 · Fundraising $0$610,520
Part X · Balance sheet $1,025,199 assets, 10 lines filed
Asset lines not itemized here account for $188,096; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $100,972$58,540
X-2 Savings and temporary cash investmentsStart of year $194,482$138,643
X-10c Land, buildings and equipment, netStart of year $227,000$223,473
X-11 Publicly traded securitiesStart of year $444,510$416,447
X-16 Total assetsStart of year $1,167,838$1,025,199
X-17 Accounts payable and accrued expensesStart of year $3,987$2,392
X-25 Other liabilitiesStart of year $545,481$474,987
X-26 Total liabilitiesStart of year $549,468$477,379
X-32 Total net assets or fund balancesStart of year $618,370$547,820
X-33 Total liabilities and net assetsStart of year $1,167,838$1,025,199
Part XI · Reconciliation of net assets $547,820 net assets at year end
XI-1 Total revenue$539,970
XI-2 Total expenses$610,520
XI-3 Revenue less expenses−$70,550
XI-4 Net assets at start of year$618,370
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$547,820

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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