East Arkansas Business Development Council Inc
- Assets
- $3.1m
- Revenue
- $682.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Jonesboro, AR
- Founding
- 01/1990
- Data as of
- 12/2021
- EIN
- 71-0655498
Organization Overview
East Arkansas Business Development Council Inc is located in Jonesboro, AR. The organization was established in 1990. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, East Arkansas Business Development Council Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Arkansas Business Development Council Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, East Arkansas Business Development Council Inc generated $682.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.0% each year . All expenses for the organization totaled $643.4k during the year ending 12/2021. While expenses have increased by 20.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST IN THE DEVELOPMENT OF BUSINESS IN THE EASTERN ARKANSAS AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
JONESBORO UNLIMITED DIVISION - THE PURPOSES OF THE CORPORATION ARE TO ENGAGE IN ACTIVITIES DESIGNED TO ASSIST IN THE DEVELOPMENT OF BUSINESSES IN THE EASTERN ARKANSAS AREA; TO PROVIDE AND PROMOTE EDUCATIONAL OPPORTUNITIES TO MEMBERS AND POTENTIAL MEMBERS OF THE WORK FORCE IN THE EASTERN ARKANSAS AREA; AND TO AID, ASSIST AND FOSTER THE DEVELOPMENT AND IMPROVEMENT OF JONESBORO, ARKANSAS, AND OTHER COMMUNITIES IN THE EASTERN ARKANSAS AREA, ALL SUCH ACTIVITIES TO BE PERFORMED EITHER ALONE OR IN A COOPERATION AND COORDINATION WITH GOVERNMENTAL AND CIVIC BODIES IN AN EFFORT TO COMBAT COMMUNITY DETERIORATION AND SECURE ADEQUATE COMMUNITY FACILITIES, SERVICES AND CONDITIONS, ECONOMIC AND OTHERWISE.
EDUCATIONAL TRAINING DIVISION - APPROXIMATELY 12 LOCAL INDUSTRIES PARTICIPATE IN RETRAINING THEIR EXISTING WORKFORCES THROUGH CLASSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Young Board | OfficerTrustee | 0 | $0 |
James Best Board | Trustee | 0 | $0 |
Murray Benton Board | Trustee | 0 | $0 |
Brad Edwards Treasurer | Trustee | 0 | $0 |
Tony Supine Board | Trustee | 0 | $0 |
David Peacock Secretary | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $47,827 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $589,004 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $636,831 |
| Total Program Service Revenue | $0 |
| Investment income | $19,321 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25,837 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $681,989 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,500 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $249,212 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,409 |
| Payroll taxes | $20,305 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $39,486 |
| Office expenses | $5,009 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,593 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,081 |
| Insurance | $1,100 |
| All other expenses | $20,363 |
| Total functional expenses | $643,402 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,366,980 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $185,040 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $620,821 |
| Investments—publicly traded securities | $914,332 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,087,173 |
| Accounts payable and accrued expenses | $3,234 |
| Grants payable | $0 |
| Deferred revenue | $20,158 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,525 |
| Total liabilities | $45,917 |
| Net assets without donor restrictions | $3,041,256 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,087,173 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that East Arkansas Business Development Council Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Arkansas Community Foundation Inc Little Rock, AR PURPOSE: GENERAL OPERATING SUPPORT | $20,000 |
Arvest Foundation Bentonville, AR PURPOSE: TO SUPPORT SITE DEVELOPMENT AND SITE MARKETING FOR INDUSTRIAL DEVELOPMENT LAND VIA JONESBORO UNLIMITED. | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Arkansas Development Council Benton, AR | $22,711,775 | $63,852,394 |
Southern Mississippi Planning And Development District Inc Gulfport, MS | $44,385,657 | $33,837,059 |
Manned Space Flight Education Foundation Incorporated Houston, TX | $76,743,192 | $45,013,359 |
New Orleans & Company New Orleans, LA | $100,855,624 | $31,406,983 |
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Saisd Historic Preservation Corporation San Antonio, TX | $3,795,273 | $2,962,141 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |