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Nonprofiteer
← ARKANSAS INDUSTRIAL DEVELOPMENT FOUNDATION

Form 990 for tax year 2022

Filed by ARKANSAS INDUSTRIAL DEVELOPMENT FOUNDATION.

Totals

Total revenue
$403,205
Total expenses
$319,030
Contributions and grants received
$456,058
Grants paid
$46,000
Program service revenue
$0
Investment income
$771
Other revenue
-$53,624
Total assets, end of year
$827,243
Total liabilities, end of year
$30,622
Net assets or fund balances, end of year
$796,621
Program services expenses (Part IX)
$302,775
Management and general expenses
$16,255
Fundraising expenses
$0
Program service expenses (Part III)
$302,775

Program services were 94.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $412,600

  • 1f · All other contributions, gifts and grants

    $43,458

  • 3 · Investment income

    total $771 · excluded $771

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $412,600

  • 8b · Fundraising events: direct expenses

    $53,624

  • 8c · Net income from fundraising events

    total -$53,624 · excluded -$53,624

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $46,000 · program services $46,000

  • 11c · Fees: accounting

    total $14,180 · management and general $14,180

  • 12 · Advertising and promotion

    total $58,900 · program services $58,900

  • 13 · Office expenses

    total $475 · management and general $475

  • 17 · Travel

    total $96,745 · program services $96,014 · management and general $731

  • 18 · Travel or entertainment for public officials

    total $58,243 · program services $57,568 · management and general $675

  • 20 · Interest

    total $2,805 · program services $2,805

  • 22 · Depreciation, depletion and amortization

    total $9,328 · program services $9,328

  • 23 · Insurance

    total $194 · management and general $194

  • 24a · Other expenses: MEALS

    total $26,878 · program services $26,878

  • 24b · Other expenses: ENTERTAINMENT REIMBURSE

    total $1,818 · program services $1,818

  • 24e · All other expenses

    total $3,464 · program services $3,464

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $70,454 · end of year $114,841

  • 2 · Savings and temporary cash investments

    beginning of year $643,417 · end of year $683,550

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,421 · end of year $2,421

  • 10a · Land, buildings and equipment: cost or other basis

    $46,639

  • 10b · Land, buildings and equipment: accumulated depreciation

    $20,208

  • 10c · Land, buildings and equipment, net

    beginning of year $35,759 · end of year $26,431

  • 23 · Secured mortgages and notes payable

    beginning of year $39,605 · end of year $30,622

  • 27 · Net assets without donor restrictions

    beginning of year $712,446 · end of year $796,621

Mission and programs · 2022

Mission

SUPPLEMENT APPROPRIATIONS BY THE STATE LEGISLATURE FOR DEVELOPMENT OF THE STATE'S RESOURCES AND ATTRACTING NEW BUSINESSES TO THE STATE OF ARKANSAS.

Activities or mission (Part I)

SUPPLEMENT APPROPRIATIONS BY THE STATE LEGISLATURE FOR DEVELOPMENT OF THE STATE'S RESOURCES AND ATTRACTING NEW BUSINESSES TO THE STATE OF ARKANSAS

  • ORGANIZED SEVERAL EVENTS TO ATTRACT PROSPECTIVE BUSINESSES, AND PROMOTE ECONOMIC DEVELOPMENT IN ARKANSAS.

    Expenses $302,775 · Grants $46,000

  • MADE CONTRIBUTIONS TO ORGANIZATION THAT WORK TO ATTRACT PROSPECTIVE BUSINESSES, AND PROMOTE ECONOMIC DEVELOPMENT IN ARKANSAS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gus Vratsinas

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Frank Thomas

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Mike Carroll

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Mike Akin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Niel Crowson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Mark Young

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Archie Schaffer III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Michael Lindsey

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • William Rockefeller

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Lang Zimmerman

    BOARD MEMBER

    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.

Grants 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
8 November 2023
IRS schema version
2022v5.0
Source object
202343149349305004

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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