ROGERS-LOWELL ECONOMIC DEVELOPMENT CORPORATION: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization: ROGERS-LOWELL ECONOMIC DEVELOPMENT CORPORATION (EIN 20-1864947)
Tax period: 2022-01-01 to 2022-12-31
Filed: 2023-11-13
IRS object ID: 202343179349303059
Schema version: 2022v5.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule C
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2023-11-13T09:28:03-06:00	ReturnTs
Tax Period End	2022-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	710355269	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	LANDMARK PLC CPAS	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	2003 SOUTH HORSEBARN ROAD SUITE 4	AddressLine1Txt
City	ROGERS	CityNm
State Abbreviation	AR	StateAbbreviationCd
ZIP	72758	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2022-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	201864947	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	ROGERS-LOWELL ECONOMIC DEVELOPMENT	BusinessNameLine1Txt
Business Name Line2	CORPORATION	BusinessNameLine2Txt

Field	Value	IRS element (for citing)
Business Name Control	ROGE	BusinessNameControlTxt
Phone	4796361240	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	317 WEST WALNUT	AddressLine1Txt
City	ROGERS	CityNm
State Abbreviation	AR	StateAbbreviationCd
ZIP	72756	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	RAYMOND BURNS	PersonNm
Person Title	SECRETARY	PersonTitleTxt
Phone	4796361240	PhoneNum
Signature	2023-11-03	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	RAYMOND	PersonFirstNm
Person Last	BURNS	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	0	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	JOHN D EVANS	PreparerPersonNm
PTIN	P00736358	PTIN
Phone	4796364461	PhoneNum
Preparation	2023-11-03	PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	2	TrustedCustomerCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd

Field	Value	IRS element (for citing)
Tax	2022	TaxYr
Build TS	2023-04-26 12:10:37Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	MIKE WATTS	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	317 WEST WALNUT	AddressLine1Txt
City	ROGERS	CityNm
State Abbreviation	AR	StateAbbreviationCd
ZIP	72756	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$840,746	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	ROGERSLOWELL.COM	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1995	FormationYr
Legal Domicile State	AR	LegalDomicileStateCd
Activity Or Mission	THIS CORPORATION IS OPERATED FOR PUBLIC BENEFIT EXCLUSIVELY FOR THE ECONOMIC BENEFIT OF THE COMMON ECONOMIC INTEREST OF ALL ENTERPRISES IN THE CITIES OF ROGERS AND LOWELL, AR.	ActivityOrMissionDesc
Voting Members Governing Body	7	VotingMembersGoverningBodyCnt
Voting Members Independent	7	VotingMembersIndependentCnt
Total Employee	0	TotalEmployeeCnt
Total Volunteers	7	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$6,711	PYContributionsGrantsAmt
CY Contributions Grants	$6,861	CYContributionsGrantsAmt
PY Program Service Revenue	$974,692	PYProgramServiceRevenueAmt
CY Program Service Revenue	$833,885	CYProgramServiceRevenueAmt
PY Investment Income	$0	PYInvestmentIncomeAmt
CY Investment Income	$0	CYInvestmentIncomeAmt
PY Other Revenue	$0	PYOtherRevenueAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$981,403	PYTotalRevenueAmt
CY Total Revenue	$840,746	CYTotalRevenueAmt
PY Grants And Similar Paid	$0	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$0	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$0	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$981,403	PYOtherExpensesAmt
CY Other Expenses	$840,746	CYOtherExpensesAmt
PY Total Expenses	$981,403	PYTotalExpensesAmt
CY Total Expenses	$840,746	CYTotalExpensesAmt
PY Revenues Less Expenses	$0	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$0	CYRevenuesLessExpensesAmt
Total Assets BOY	$5,661	TotalAssetsBOYAmt
Total Assets EOY	$5,179	TotalAssetsEOYAmt
Total Liabilities BOY	$3,328	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$2,846	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$2,333	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$2,333	NetAssetsOrFundBalancesEOYAmt
Mission	THIS CORPORATION IS ORGANIZED AND SHALL BE OPERATED PURSUANT TO IRS 501(C)(6) FOR PUBLIC BENEFIT EXCLUSIVELY FOR THE ECONOMIC BENEFIT OF THE COMMON ECONOMIC INTEREST OF ALL ENTERPRISES IN THE CITIES OF ROGERS AND LOWELL, ARKANSAS.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Desc	THE ROGERS-LOWELL ECONOMIC DEVELOPMENT PROVIDES ECONOMIC DEVELOPMENT SERVICES TO THE CITY OF ROGERS, A CITY OF 72,999 AND LOWELL, A CITY OF 9,839, WHICH INCLUDED CONSULTING WITH OVER 845 PROSPECTIVE BUSINESSES RESULTING IN THE CREATION OF JOBS IN BOTH COMMUNITIES.	Desc
Described In Section501c3	0	DescribedInSection501c3Ind
Schedule B Required	0	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Subject To Proxy Tax	Yes (1)	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Donor Rstr Or Quasi Endowments	0	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	0	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	0	ReportOtherAssetsInd
Report Other Liabilities	0	ReportOtherLiabilitiesInd
Include FIN48 Footnote	0	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	0	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	0	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	0	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	0	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	0	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Loan Outstanding	0	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	0	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	0	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Employee	0	EmployeeCnt
Unrelated Bus Incm Over Limit	0	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	7	GoverningBodyVotingMembersCnt
Independent Voting Member	7	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	0	MembersOrStockholdersInd
Election Of Board Members	0	ElectionOfBoardMembersInd
Decisions Subject To Approva	0	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	0	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (1)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	0	CompensationProcessCEOInd
Compensation Process Other	0	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
States Where Copy Of Return Is Fld	AR	StatesWhereCopyOfReturnIsFldCd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	ROGERS-LOWELL CHAMBER OF COMMERCE	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	4796193185	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	317 WEST WALNUT	AddressLine1Txt
City	ROGERS	CityNm
State Abbreviation	AR	StateAbbreviationCd
ZIP	72756	ZIPCd

Field	Value	IRS element (for citing)
No Listed Persons Compensated	Yes (X)	NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (7 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt
MIKE WATTS
CHAIRMAN OF THE BOARD	1.00	Yes (X)	Yes (X)	$0	$0	$0
PAT HARRIS
VICE CHAIRMAN	1.00	Yes (X)	Yes (X)	$0	$0	$0
RAYMOND BURNS
SECRETARY	1.00	Yes (X)	Yes (X)	$0	$0	$0
CATHY FORAKER
MEMBER	1.00	Yes (X)		$0	$0	$0
DICK TRAMMEL
MEMBER	1.00	Yes (X)		$0	$0	$0
NATHAN GAIRHAN
TREASURER	1.00	Yes (X)	Yes (X)	$0	$0	$0
MATT CRAFTON
MEMBER	1.00	Yes (X)		$0	$0	$0

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$0	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$0	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	0	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	0	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K	0	CntrctRcvdGreaterThan100KCnt
Membership Dues	$6,861	MembershipDuesAmt
Total Contributions	$6,861	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
REIMBURSEMENTS	900099	$459,885	$459,885
CITY OF ROGERS CONTRAC	900099	$374,000	$374,000

Field	Value	IRS element (for citing)
Total Program Service Revenue	$833,885	TotalProgramServiceRevenueAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$840,746	TotalRevenueColumnAmt
Related Or Exempt Func Income	$833,885	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$0	ExclusionAmt

Fees For Services Management FeesForServicesManagementGrp

Field	Value	IRS element (for citing)
Total	$417,717	TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$985	TotalAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$1,672	TotalAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$20,822	TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt
CHAMBER CONTRACT EXPENS	$374,000
CHAMBER ADMINISTRATIVE	$24,489
POSTAGE EXPENSE	$953
OTHER EXPENSES	$108

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$840,746	TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$5,661	BOYAmt
EOY	$5,179	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$5,661	BOYAmt
EOY	$5,179	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$3,328	BOYAmt
EOY	$2,846	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$3,328	BOYAmt
EOY	$2,846	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$2,333	BOYAmt
EOY	$2,333	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$2,333	BOYAmt
EOY	$2,333	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$5,661	BOYAmt
EOY	$5,179	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$0	ReconcilationRevenueExpnssAmt
Other Changes In Net Assets	$0	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	0	FSAuditedInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule C IRS990ScheduleC

Field	Value	IRS element (for citing)
Substantially All Dues Nonded	Yes (1)	SubstantiallyAllDuesNondedInd
Only In House Lobbying	Yes (1)	OnlyInHouseLobbyingInd
Agree Carryover Prior Year	0	AgreeCarryoverPriorYearInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 8B	NO COMMITTEES CAN ACT ON BEHALF OF THE GOVERNING BODY.
FORM 990, PART VI, SECTION B, LINE 11B	A REVIEW OF THE 990 WAS CONDUCTED BY RAYMOND BURNS (BOARD MEMBER) BEFORE THE 990 WAS FILED WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12C	EACH MEMBER OF THE BOARD OF DIRECTORS IS REQUIRED TO SIGN A WRITTEN STATEMENT ADHERING TO THE CONFLICT OF INTEREST POLICY ANNUALLY. ANY CONFLICTS THAT ARISE ARE HANDLED ON AN ISSUE BY ISSUE BASIS. IF ANY BOARD MEMBER HAS A CONFLICT OF INTEREST, THE BOARD MEMBER WILL REFRAIN FROM VOTING AND FROM DELIBERATING ON THAT ISSUE. ALL CONFLICTS OF INTEREST ARE NOTED AND RETAINED.
FORM 990, PART VI, SECTION C, LINE 19	GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FROM THE OFFICE AT 317 WEST WALNUT, ROGERS, AR 72756.