Forrest City Industrial Development

Nonprofit profile at a glance

EIN
710484063
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-N 2021
Location
Forrest City, AR, USA
Phone
8706331651
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$160,943
Expenses
$91,152
Assets
$1,131,610
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • BRAD DEVAZIER (PAST PRESIDENT)
  • MICHAEL SWAN (PRESIDENT)
  • GREG GIBSON (VICE PRESIDENT)

People named in this filing

  • BRAD DEVAZIER (PAST PRESIDENT)
  • MICHAEL SWAN (PRESIDENT)
  • BRICE FLETCHER (SECRETARY TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Industrial park - buying & selling land to make industrial sites availableindutrial recruitment - contacting & meeting with prospects

What it reported doing in 2024

Continued efforts to contact and meet with potential industrial prospects

Operating model

Revenue model
Grant-funded. 67% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.1%; rating input score 62
  • Program expense ratio: 95.2%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 43.4%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 12.41; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 27.5% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 9.4% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 62.1% of revenue deployed · 95.2% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $87K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.