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Arkansas Ecomonic Acceleration Foundation FY2020 filing

Tax-deductible

Little Rock, AR501(c)(3)Since 1999Unclassified EIN 71-0819945Revenue $390K in FY2020

On file with the IRS200 River Market Ave Ste 400, 72201-1766 · Little Rock, ARTax-exempt since Nov 1999Supporting organization — 509(a)(3)

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The organization promotes educational activities which foster entrepreneurial development in Arkansas with the goal of increasing business startup creation and leadership development.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
4 of 6
filings with a surplus
Average surplus $11K a year · 2% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 5.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $441K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$106
0.08% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 7 voting members
Worth a look: 3 of 7 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$390K
Spent
$280K
To programs
95%
Net assets
$126K
By yearFY2020–FY2025
Revenue
$390K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$390K
FY2021$296K
FY2022$219K
FY2023$489K
FY2024$595K
FY2025$776K
Expenses
$280K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$280K
FY2021$277K
FY2022$371K
FY2023$421K
FY2024$562K
FY2025$786K
Net assets
$126K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$126K
FY2021$145K
FY2022−$8K
FY2023$61K
FY2024$93K
FY2025$84K

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 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 Nov 1999.

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% · $266K Management & general 5% · $13K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
Sam Walls III
President
$0Pt VII · Sec A
Leslie Lane
Vice Preside
$0Pt VII · Sec A
Rush Deacon
Treasurer
$0Pt VII · Sec A
Marie Bruno
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Steve Rice
Director
$0Pt VII · Sec A
Rebecca Todd
Director
$0Pt VII · Sec A
See Arkansas Ecomonic Acceleration Foundation 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

Provides loans for Arkansas businesses to expand and supports economic development.

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Provided by the organization

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1 program · $266K · in their own filed words · FY2020
01

Annual governor's award for entrepreneurial development in arkansas whereby college students present business plans for hypothetical businesses; plans are judged by a panel of experts and dollar awards are presented to winners at the annual awards luncheon supported by the business community of the state.

$266Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Arkansas Capital CorporationFY2025$441K
Total grants receivedfrom 1 funder$441K
Grants paid · 12 grants · $885K · 2020–2025
Unitemized GrantFY2025$153,575
Unitemized GrantFY2024$152,131
Unitemized GrantFY2023$114,000
Unitemized GrantFY2023$7,825
Unitemized GrantFY2022$99,000
Unitemized GrantFY2022$6,950
Unitemized GrantFY2021$99,000
Unitemized GrantFY2021$7,500
Unitemized GrantFY2021$1,000
Unitemized GrantFY2020$138,550
Unitemized GrantFY2020$98,000
Unitemized GrantFY2020$7,200

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$390K
Ln 12
Gifts and grantsLn 1h$377K
Other incomeLn 4–11$12K
Investment incomeLn 3$160
Money outPt IX
$280K
Ln 25
Programscol B$266K
Managementcol C$13K
Owns and owesPt X
$126K
net assets · Ln 32
Cash and savingsLn 1–2$117K
Total assetsLn 16$126K
LiabilitiesLn 26$106
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$377K
Investment incomeLn 3$160
Other incomeLn 4–11$12K
Total revenueLn 12$390K
Assets in detailPt X, end of year
CashLn 1$117K
Cash and savings togetherLn 1–2$117K
Total assetsLn 16$126K
LiabilitiesLn 26$106
Net assetsLn 32$126K
OperationsPt I, VI
EmployeesI 50
VolunteersI 675
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 FY20End FY20
Cash and savingsLn 1–2$15K$117K
Total assetsLn 16$16K$126K
LiabilitiesLn 26$0$106
Net assetsLn 32$16K$126K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$500$500
Grants to domestic individualsLn 2$244K$244K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$9K$9K
Other fees for servicesLn 11g$15$15
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$655$209$446
Information technologyLn 14$6K$3K$3K
TravelLn 17$511$473$38
Conferences, conventions and meetingsLn 19$11K$11K$50
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$280K$266K$13K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $776K$786K−$9K$84K 990 PDF
FY2024 $595K$562K$33K$93K 990 PDF
FY2023 $489K$421K$69K$61K 990 PDF
FY2022 $219K$371K−$153K−$8K 990 PDF
FY2021 $296K$277K$19K$145K 990 PDF
FY2020 Viewing $390K$280K$110K$126K 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 FY2020 990 (6 parts)
Part I · Summary $389,541 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $264,550$376,960
I-9 Program service revenue$0
I-10 Investment incomePrior year $308$160
I-11 Other revenue$12,421
I-12 Total revenuePrior year $264,858$389,541
I-13 Grants and similar amounts paidPrior year $164,000$244,250
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $135,923$35,481
I-18 Total expensesPrior year $299,923$279,731
I-19 Revenue less expensesPrior year −$35,065$109,810
Part VI · Governance 3 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members3
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 $389,541 across 5 lines filed
VIII-1f All other contributions, gifts and grants$376,960
VIII-1h Total contributions, gifts and grants$376,960
VIII-3 Investment incomeExcluded from tax $160$160
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $12,421$12,421
VIII-12 Total revenueRelated to mission $12,421 · Excluded from tax $160$389,541
Part IX · Statement of functional expenses $279,731 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $500$500
IX-2 Grants to domestic individualsPrograms $243,750$243,750
IX-11b Legal feesPrograms $2,263$2,263
IX-11c Accounting feesManagement $8,570$8,570
IX-11g Other fees for servicesPrograms $15$15
IX-12 Advertising and promotionPrograms $5,280$5,280
IX-13 Office expensesPrograms $209 · Management $446$655
IX-14 Information technologyPrograms $3,120 · Management $2,990$6,110
IX-17 TravelPrograms $473 · Management $38$511
IX-19 Conferences, conventions and meetingsPrograms $10,701 · Management $50$10,751
IX-24 Other expenses (24a–d)Management $1,326$1,326
IX-25 Total functional expensesPrograms $266,311 · Management $13,420 · Fundraising $0$279,731
Part X · Balance sheet $126,208 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $14,517$117,352
X-4 Accounts receivable$7,106
X-9 Prepaid expenses and deferred chargesStart of year $1,775$1,750
X-16 Total assetsStart of year $16,292$126,208
X-17 Accounts payable and accrued expenses$106
X-26 Total liabilitiesStart of year $0$106
X-27 Net assets without donor restrictionsStart of year $11,122$115,617
X-28 Net assets with donor restrictionsStart of year $5,170$10,485
X-32 Total net assets or fund balancesStart of year $16,292$126,102
X-33 Total liabilities and net assetsStart of year $16,292$126,208
Part XI · Reconciliation of net assets $126,102 net assets at year end
XI-1 Total revenue$389,541
XI-2 Total expenses$279,731
XI-3 Revenue less expenses$109,810
XI-4 Net assets at start of year$16,292
XI-10 Net assets at end of year$126,102

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

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