Hempstead County Economic Development Corporation

Not tax-deductible

Hope, AR501(c)(6)Since 1986EIN 71-0638559Revenue $241K in FY2025

On file with the IRSPo Box 971, 71802-0971 · Hope, ARTax-exempt since Mar 1987

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Industrial & Economic Development

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
25¢ of each $1 spent went to programs.
Run by 25 volunteers and 2 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
2 of 6
filings with a surplus
Average deficit $2K a year · 1% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
25%
of spending
Concern: 25% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$94K
to officers and key staff · 39% of spending
Concern: pay to officers and key staff is 39% of spending; over 30%.
Pt VII · Sec A
25 mo
of spending, in cash
Looks good: 24.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$241K
+5% vs prior year
Spent
$245K
To programs
25%
Net assets
$663K
By yearFY2020–FY2025
Revenue
$241K
FY2025▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$189K
FY2021$193K
FY2022$190K
FY2023$215K
FY2024$230K
FY2025$241K
Expenses
$245K
FY2025▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$173K
FY2021$200K
FY2022$246K
FY2023$169K
FY2024$237K
FY2025$245K
Net assets
$663K
FY2025▼ -0.6%
Tap a bar for its year
Net assets by fiscal year
FY2020$693K
FY2021$686K
FY2022$629K
FY2023$675K
FY2024$667K
FY2025$663K

From the FY2025 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1987.

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

Where the money goes

25 cents of each dollar spent went to programs.

Program services 25% · $60K Management & general 36% · $89K

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

5 people listed on the 990; $94K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$94,478Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Steve Harris———$89,124$96,463$85,720
Anna Powell$94,478$90,892$75,683———

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 Hempstead County Economic Development Corporation 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

Promotes industrial and economic growth through strategic initiatives.

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1 program · in their own filed words · FY2025
01

Promote industrial development by recruiting, procuring, maintaining, and expanding industrial and commercial development throughout hempstead county, arkansas

Pt IX · col B

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$241K
Ln 12
Gifts and grantsLn 1h$220K
Investment incomeLn 3$21K
Money outPt IX
$245K
Ln 25
Programscol B$60K
Managementcol C$89K
Owns and owesPt X
$663K
net assets · Ln 32
Cash and savingsLn 1–2$504K
Total assetsLn 16$663K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$220K
Investment incomeLn 3$21K
Gains on assetsLn 7$0
Total revenueLn 12$241K
Assets in detailPt X, end of year
CashLn 1$7K
SavingsLn 2$497K
Cash and savings togetherLn 1–2$504K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$1K
Other assetsLn 15$158K
Total assetsLn 16$663K
LiabilitiesLn 26$0
Net assetsLn 32$663K
OperationsPt I, VI
EmployeesI 52
VolunteersI 625
Fiscal year endsHeaderDecember
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 FY25End FY25
Cash and savingsLn 1–2$508K$504K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$3K$1K
Total assetsLn 16$670K$663K
LiabilitiesLn 26$3K$0
Net assetsLn 32$667K$663K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$94K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$38K$38K
Pension plan contributionsLn 8$19K$19K
Other employee benefitsLn 9$13K$13K
Payroll taxesLn 10$10K$10K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$9K$9K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$32K$32K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$6K$6K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$7K$7K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$1K
InsuranceLn 23$834$834
Other expenses (24a–d)Ln 24$13K$13K
All other expensesLn 24e$71$71
Total functional expensesLn 25$245K$60K$89K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $241K$245K−$4K$663K 990 PDF
FY2024 $230K$237K−$7K$667K 990 PDF
FY2023 $215K$169K$46K$675K 990 PDF
FY2022 $190K$246K−$56K$629K 990 PDF
FY2021 $193K$200K−$7K$686K 990 PDF
FY2020 $189K$173K$17K$693K 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 FY2025 990 (6 parts)
Part I · Summary $241,020 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $207,946$219,808
I-9 Program service revenue$0
I-10 Investment incomePrior year $21,985$21,212
I-11 Other revenue$0
I-12 Total revenuePrior year $229,931$241,020
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $157,509$174,397
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $79,907$70,679
I-18 Total expensesPrior year $237,416$245,076
I-19 Revenue less expensesPrior year −$7,485−$4,056
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $241,020 across 8 lines filed
VIII-1b Membership dues$219,808
VIII-1h Total contributions, gifts and grants$219,808
VIII-3 Investment incomeRelated to mission $21,212$21,212
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $21,212$241,020
Part IX · Statement of functional expenses $245,076 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$94,478
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesManagement $38,400$38,400
IX-8 Pension plan contributionsManagement $19,254$19,254
IX-9 Other employee benefitsManagement $12,520$12,520
IX-10 Payroll taxesManagement $9,745$9,745
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $8,939$8,939
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $31,919$31,919
IX-12 Advertising and promotionPrograms $1,157$1,157
IX-13 Office expensesPrograms $6,317$6,317
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $7,221$7,221
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$1,253
IX-23 InsurancePrograms $834$834
IX-24 Other expenses (24a–d)Programs $12,968$12,968
IX-24e All other expensesPrograms $71$71
IX-25 Total functional expensesPrograms $60,487 · Management $88,858 · Fundraising $0$245,076
Part X · Balance sheet $663,412 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $2,917$7,157
X-2 Savings and temporary cash investmentsStart of year $504,633$497,241
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $2,500$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $2,723$1,470
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $157,544$157,544
X-16 Total assetsStart of year $670,317$663,412
X-26 Total liabilitiesStart of year $2,849$0
X-27 Net assets without donor restrictionsStart of year $667,468$663,412
X-32 Total net assets or fund balancesStart of year $667,468$663,412
X-33 Total liabilities and net assetsStart of year $670,317$663,412
Part XI · Reconciliation of net assets $663,412 net assets at year end
XI-1 Total revenue$241,020
XI-2 Total expenses$245,076
XI-3 Revenue less expenses−$4,056
XI-4 Net assets at start of year$667,468
XI-10 Net assets at end of year$663,412

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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