Boone County Economic Development

Harrison, ARUnknown exempt organizationEIN 71-6057028

To develop an industrial park and facilitate workforce development for boone county, arkansas

100¢ of each $1 spent went to programs.
Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average deficit $216K a year · 1562% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
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
$25K
+276% vs prior year
Spent
$903K
To programs
100%
Net assets
$0
By yearFY2020–FY2023
Revenue
$25K
FY2023▲ +276%
Revenue by fiscal year
FY2020$16K
FY2021$8K
FY2022$7K
FY2023$25K
Expenses
$903K
FY2023▲ ×470
Expenses by fiscal year
FY2020$13K
FY2021$711
FY2022$2K
FY2023$903K
Net assets
$0
FY2023▼ -100%
Net assets by fiscal year
FY2020$866K
FY2021$874K
FY2022$878K
FY2023$0

From the FY2023 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $901K Management & general 0% · $2K

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

Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
See Boone County Economic Development 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

Develops an industrial park and workforce training for Boone County, Arkansas.

Provided by the organization

This section is blank until Boone County Economic Development claims this page.

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3 program services account for $901K of program spending, described in the organization's own filed words · FY2023.
01

To fund the building of the center for robotics manufacturing and innovation building on the north arkansas college campus.

$700Kprogram expense
02

Provides 150,000 for a center for robotics manufacting and innovation (crmi) scholarship fund. Northwest arkansas economic development inc. (nwaedd), with appropriate partners, will develop a scholarship program for students attending the crmi.

$197Kprogram expense
03

Transferred 5 acres of land to nwaedd under the direction of joe willis to be used at their discretion.

$4Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 2 grants · $897K · 2023–2023
North Arkansas CollegeFY2023$700,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$25K
Ln 12
Investment incomeLn 3$25K
Money outPt IX
$903K
Ln 25
Programscol B$901K
Managementcol C$2K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$25K
Total revenueLn 12$25K
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Total assetsLn 16$878K$0
LiabilitiesLn 26$0$0
Net assetsLn 32$878K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$901K$901K
Accounting feesLn 11c$935$935
Other fees for servicesLn 11g$784$784
Advertising and promotionLn 12$18$18
Total functional expensesLn 25$903K$901K$2K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $25K$903K−$878K$0 990 PDF
FY2022 $7K$2K$5K$878K 990 PDF
FY2021 $8K$711$7K$874K 990 PDF
FY2020 $16K$13K$3K$866K 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $24,672 across 2 lines filed
VIII-3 Investment incomeRelated to mission $24,672$24,672
VIII-12 Total revenueRelated to mission $24,672$24,672
Part IX · Statement of functional expenses $902,940 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $901,203$901,203
IX-11c Accounting feesManagement $935$935
IX-11g Other fees for servicesManagement $784$784
IX-12 Advertising and promotionManagement $18$18
IX-25 Total functional expensesPrograms $901,203 · Management $1,737 · Fundraising $0$902,940
Part X · Balance sheet $0 assets, 4 lines filed
X-16 Total assetsStart of year $878,268$0
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $878,268$0
X-33 Total liabilities and net assetsStart of year $878,268$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$24,672
XI-2 Total expenses$902,940
XI-3 Revenue less expenses−$878,268
XI-4 Net assets at start of year$878,268
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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