Limestone County Economic Development Association INC FY2021 filing

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To promote bussiness and industrial development in Athens and Limestone County Alabama

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
75¢ of each $1 spent went to programs.
$150K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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
5 of 6
filings with a surplus
Average surplus $36K a year · 9% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
75%
of spending
Fine: 75% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$150K
to officers and key staff · 55% of spending
Concern: pay to officers and key staff is 55% of spending; over 30%.
Pt VII · Sec A
18 mo
of spending, in cash
Looks good: 17.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$770
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
25
of 25 voting members
Looks good: 25 of 25 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$375K
+35% vs prior year
Spent
$272K
To programs
75%
Net assets
$420K
By yearFY2020–FY2025
Revenue
$375K
FY2021▲ +35%
Tap a bar for its year
Revenue by fiscal year
FY2020$278K
FY2021$375K
FY2022$304K
FY2023$479K
FY2024$467K
FY2025$491K
Expenses
$272K
FY2021▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2020$289K
FY2021$272K
FY2022$301K
FY2023$410K
FY2024$430K
FY2025$473K
Net assets
$420K
FY2021▲ +32%
Tap a bar for its year
Net assets by fiscal year
FY2020$318K
FY2021$420K
FY2022$423K
FY2023$491K
FY2024$527K
FY2025$544K

From the FY2021 Form 990 (year ending May 2021) · see the original

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You’re viewing the FY2021 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 Jan 1977.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $203K Management & general 25% · $69K

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

31 people listed on the 990; $150K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$95,000Pt VII · Sec A
Project Coordinator
$55,000Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Bethany Shockney$108,468$114,520$124,841$98,440$95,000$98,654
Amber Turner—$61,680$53,001———
Tiffany Hagood———$50,452$55,000$49,958
Blake Williams—$50,567————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Limestone County Economic Development Association INC 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 15aYes

Programs and updates

Promotes business and industrial development in Athens and Limestone County, Alabama.

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Provided by the organization

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1 program · $203K · in their own filed words · FY2020
01

To promote business and industrial development in Athens and Limestone County Alabama

$203Kprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$375K
Ln 12
Gifts and grantsLn 1h$374K
Investment incomeLn 3$883
Money outPt IX
$272K
Ln 25
Programscol B$203K
Managementcol C$69K
Owns and owesPt X
$420K
net assets · Ln 32
Cash and savingsLn 1–2$404K
Total assetsLn 16$421K
LiabilitiesLn 26$770
PeoplePt VI, VII
31
listed · VII A
PaidVII A2
Voting boardVI 1a25
IndependentVI 1b25
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$374K
Government grantsLn 1e$273K
Investment incomeLn 3$883
Total revenueLn 12$375K
Assets in detailPt X, end of year
CashLn 1$247K
SavingsLn 2$156K
Cash and savings togetherLn 1–2$404K
Land, buildings, equipmentLn 10c$17K
Total assetsLn 16$421K
LiabilitiesLn 26$770
Net assetsLn 32$420K
OperationsPt I, VI
EmployeesI 54
Fiscal year endsHeaderMay
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 FY21End FY21
Cash and savingsLn 1–2$311K$404K
Land, buildings, equipmentLn 10c$8K$17K
Total assetsLn 16$319K$421K
LiabilitiesLn 26$2K$770
Net assetsLn 32$318K$420K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$95K$95K
Other salaries and wagesLn 7$55K$28K$28K
Pension plan contributionsLn 8$14K$12K$2K
Other employee benefitsLn 9$8K$5K$3K
Payroll taxesLn 10$8K$7K$2K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$7K$7K
Advertising and promotionLn 12$29K$29K
Office expensesLn 13$8K$8K
OccupancyLn 16$13K$13K
TravelLn 17$15K$15K
Depreciation, depletion and amortizationLn 22$3K$1K$1K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$11K$5K$6K
Total functional expensesLn 25$272K$203K$69K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $491K$473K$18K$544K 990 PDF
FY2024 $467K$430K$36K$527K 990 PDF
FY2023 $479K$410K$68K$491K 990 PDF
FY2022 $304K$301K$2K$423K 990 PDF
FY2021 Viewing $375K$272K$103K$420K 990 PDF
FY2020 $278K$289K−$12K$318K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $375,042 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $275,370$374,159
I-9 Program service revenue$0
I-10 Investment incomePrior year $2,130$883
I-11 Other revenue$0
I-12 Total revenuePrior year $277,500$375,042
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $185,419$180,007
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $103,980$92,359
I-18 Total expensesPrior year $289,399$272,366
I-19 Revenue less expensesPrior year −$11,899$102,676
Part VI · Governance 25 of 25 board members independent, 3 to look at
VI-1a Voting members of the governing body25
VI-1b Independent voting members25
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $375,042 across 6 lines filed
VIII-1b Membership dues$94,335
VIII-1e Government grants$272,582
VIII-1f All other contributions, gifts and grants$7,242
VIII-1h Total contributions, gifts and grants$374,159
VIII-3 Investment incomeRelated to mission $883$883
VIII-12 Total revenueRelated to mission $883 · Unrelated business $0 · Excluded from tax $0$375,042
Part IX · Statement of functional expenses $272,366 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $95,000$95,000
IX-7 Other salaries and wagesPrograms $27,500 · Management $27,500$55,000
IX-8 Pension plan contributionsPrograms $11,724 · Management $1,925$13,649
IX-9 Other employee benefitsPrograms $5,259 · Management $2,630$7,889
IX-10 Payroll taxesPrograms $6,910 · Management $1,559$8,469
IX-11c Accounting feesManagement $2,250$2,250
IX-11g Other fees for servicesPrograms $6,571$6,571
IX-12 Advertising and promotionPrograms $28,983$28,983
IX-13 Office expensesManagement $8,471$8,471
IX-16 OccupancyManagement $13,475$13,475
IX-17 TravelPrograms $14,726$14,726
IX-22 Depreciation, depletion and amortizationPrograms $1,310 · Management $1,350$2,660
IX-23 InsuranceManagement $4,699$4,699
IX-24 Other expenses (24a–d)Programs $4,965 · Management $5,559$10,524
IX-25 Total functional expensesPrograms $202,948 · Management $69,418 · Fundraising $0$272,366
Part X · Balance sheet $420,960 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $155,428$247,499
X-2 Savings and temporary cash investmentsStart of year $155,215$156,098
X-10c Land, buildings and equipment, netStart of year $8,382$17,363
X-16 Total assetsStart of year $319,025$420,960
X-17 Accounts payable and accrued expensesStart of year $1,511$770
X-26 Total liabilitiesStart of year $1,511$770
X-27 Net assets without donor restrictionsStart of year $317,514$420,190
X-32 Total net assets or fund balancesStart of year $317,514$420,190
X-33 Total liabilities and net assetsStart of year $319,025$420,960
Part XI · Reconciliation of net assets $420,190 net assets at year end
XI-1 Total revenue$375,042
XI-2 Total expenses$272,366
XI-3 Revenue less expenses$102,676
XI-4 Net assets at start of year$317,514
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$420,190

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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