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Nonprofiteer
← ARKANSAS ECOMONIC ACCELERATION FOUNDATION

Form 990 for tax year 2022

Filed by ARKANSAS ECOMONIC ACCELERATION FOUNDATION.

Totals

Total revenue
$218,576
Total expenses
$371,250
Contributions and grants received
$210,500
Grants paid
$105,950
Program service revenue
$8,000
Investment income
$76
Other revenue
$0
Total assets, end of year
$51,131
Total liabilities, end of year
$59,016
Net assets or fund balances, end of year
-$7,885
Program services expenses (Part IX)
$328,835
Management and general expenses
$42,415
Fundraising expenses
$0
Program service expenses (Part III)
$328,835

Program services were 88.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • SAM WALLS III

    PRESIDENT

    Total calculated
    $385,173
    From this org
    $0
    From related orgs
    $340,504
    Other
    $44,669
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $223,604 related
    Bonus
    $0 + $116,900 related
    Other
    $0
    Deferred
    $0 + $26,873 related
    Nontaxable benefits
    $0 + $17,796 related
    Filer's total
    $0 + $385,173 related

  • LESLIE LANE

    VICE PRESIDENT

    Total calculated
    $291,364
    From this org
    $0
    From related orgs
    $266,729
    Other
    $24,635
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $180,329 related
    Bonus
    $0 + $86,400 related
    Other
    $0
    Deferred
    $0 + $18,880 related
    Nontaxable benefits
    $0 + $5,755 related
    Filer's total
    $0 + $291,364 related

  • MARIE BRUNO

    SECRETARY

    Total calculated
    $101,256
    From this org
    $0
    From related orgs
    $91,644
    Other
    $9,612
    Hours/week
    1 + 40 related

  • RUSH DEACON

    TREASURER

    Total calculated
    $196,809
    From this org
    $0
    From related orgs
    $171,334
    Other
    $25,475
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $148,834 related
    Bonus
    $0 + $22,500 related
    Other
    $0
    Deferred
    $0 + $13,062 related
    Nontaxable benefits
    $0 + $12,413 related
    Filer's total
    $0 + $196,809 related

  • KATHLEEN LAWSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • REBECCA TODD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • DREW SPEED

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE OFFICERS OF ARKANSAS ECONOMIC ACCELERATION FOUNDATION ARE PAID BY ARKANSAS CAPITAL CORPORATION (ACC). COMPENSATION FOR EXECUTIVES AND KEY EMPLOYEES IS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS' COMPENSATION COMMITTEE. TO DETERMINE COMPENSATION, THE COMPENSATION COMMITTEE UTILIZES OUTSIDE ASSISTANCE FROM THE JOHNSON GROUP, AN INDEPENDENT, PROFESSIONAL COMPANY THAT SPECIALIZES IN COMPENSATION SURVEYS AND RECOMMENDATIONS FOR AMERICAN COMPANIES. THE COMPENSATION ACTUALLY PAID TO OFFICERS AND KEY EMPLOYEES IS WITHIN THE GUIDELINES RECOMMENDED BY THE OUTSIDE CONSULTANT.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202323189349315847

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