Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Mar 1969.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
82 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
21 people listed on the 990; $852K paid to officers and key staff (Part VII, Section A).
Compensation history total reportable pay by year · 4 named individuals · Part VII
| Name | FY2023 | FY2022 |
|---|---|---|
| Brad Lacy | $316,704 | $246,016 |
| John-Lewis J Gates | $224,504 | — |
| Laura Grimes | $157,369 | $139,041 |
| Corey Parks | $152,975 | — |
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 Conway Development Corporation executive salaries →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
Boosts economic growth and creates jobs in Conway, Arkansas.
Questions for Conway Development Corporation
Your first name shows with your question. Conway Development Corporation answers here, for everyone.
The conway development corporation responded to site selection and expansion requests monthly on behalf of the city of conway and faulkner county. The CDC managed its land portfolio and assets for the benefit of the community and future economic development opportunities.
Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 71-0405994) · Dispute this lineBy the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $4.0M | $7.6M |
| Land, buildings, equipmentLn 10c | $29.5M | $26.5M |
| Total assetsLn 16 | $34.1M | $34.2M |
| LiabilitiesLn 26 | $18.5M | $14.3M |
| Net assetsLn 32 | $15.5M | $19.9M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $731K | $731K | ||
| Other employee benefitsLn 9 | $122K | $122K | ||
| Payroll taxesLn 10 | $60K | $60K | ||
| Legal feesLn 11b | $62K | $62K | ||
| Advertising and promotionLn 12 | $6K | $6K | ||
| Office expensesLn 13 | $14K | $9K | $5K | |
| OccupancyLn 16 | $12K | $12K | ||
| TravelLn 17 | $54K | $54K | ||
| Conferences, conventions and meetingsLn 19 | $178K | $178K | ||
| InterestLn 20 | $248K | $248K | ||
| Depreciation, depletion and amortizationLn 22 | $34K | $34K | ||
| InsuranceLn 23 | $15K | $15K | ||
| Other expenses (24a–d)Ln 24 | $5.0M | $5.0M | ||
| All other expensesLn 24e | $332K | $304K | $28K | |
| Total functional expensesLn 25 | $6.9M | $5.6M | $1.2M | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2023 Latest ViewingFiled with the IRS Oct 8, 2024 | $11.0M | $6.9M | $4.2M | $19.9M | 990 PDF |
| FY2022Filed with the IRS Aug 21, 2023 | $1.7M | $2.0M | −$281K | $15.5M | 990 PDF |
| FY2021Filed with the IRS Jul 26, 2022 | $2.6M | $2.2M | $434K | $15.8M | 990 PDF |
| FY2020Filed with the IRS Aug 5, 2021 | $1.1M | $1.8M | −$711K | $15.4M | 990 PDF |
Schedules filed Part IV
See the full FY2023 990
Part I · Summary $11,009,680 revenue, 12 lines filed
Part VI · Governance 18 of 18 board members independent, 2 to look at
Part VIII · Statement of revenue $11,009,680 across 8 lines filed
Part IX · Statement of functional expenses $6,857,882 across 14 lines filed
Part X · Balance sheet $34,225,498 assets, 13 lines filed
Part XI · Reconciliation of net assets $19,877,896 net assets at year end
Form 990 e-file FY2023 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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