Northwest Arkansas Council
- Assets
- $856.5k
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Springdale, AR
- Founding
- 05/1991
- Data as of
- 12/2022
- EIN
- 71-0693739
Organization Overview
Northwest Arkansas Council is located in Springdale, AR. The organization was established in 1991. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Arkansas Council is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Northwest Arkansas Council generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 28.3% each year . All expenses for the organization totaled $3.9m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION OF THE GROWTH, VITALITY, AND DEVELOPMENT OF NORTHWEST ARKANSAS AND ITS PEOPLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2015, THE COUNCILS THREE-YEAR PLAN WAS UNVEILED WITH THE FOLLOWING GOALS:(1) LEAD THE TRANSITION TO A BEST-OF-CLASS, DEMAND-DRIVEN WORKFORCE MODEL TO INCREASE THE SUPPLY OF APPROPRIATELY SKILLED LABOR. THE COUNCIL WILL PROVIDE ADMINISTRATIVE SUPPORT, RESEARCH, PROMOTION AND STATE LOBBYING FOR THE ON-GOING EFFORTS OF THE EDUCATIONAL EXCELLENCE WORK GROUP. (2) INVEST IN PHYSICAL INFRASTRUCTURE THAT WILL ENABLE SUSTAINABLE LONG-TERM GROWTH AND IMPROVE COMPETIVENESS. THE COUNCIL WILL PARTNER WITH THE NORTHWEST ARKANSAS REGIONAL PLANNING COMMISSION TO INITIATE A MULTI-YEAR EFFORT TO PLAN FOR FUTURE INFRASTURE NEEDS. THE COMMITTEE HAS ACTIVELY BEEN WORKING TO ADD A LOW COST AIRLINE TO XNA IN ORDER TO ADD AFFORDABLE AND ADDITIONAL FLIGHT AVAILABILITY TO THE NORTHWEST ARKANSAS AREA. (3) ENHANCE THE PROACTIVE REGIONAL APPROACH TO ECONOMIC DEVELOPMENT IN NORTHWEST ARKANSAS TO GROW AND ATTRACT TARGETED, CAREER LADDER-JOB OPPORTUNITIES. THE COUNCIL WILL CONTINUE TO PARTNER WITH GROUPS TO ENHANCE THE ENTERPRENEURSHIP CAPACITY OF THE REGION. AS WELL AS SUPPORT THE EMPLOYER RETENSION AND EXPANSION PARTNERSHIP WITH THE LOCAL CHAMBERS OF COMMERCE. (4) CHAMPION PLACEMAKING AND PROVIDE LEADERSHIP, COLLABORATIVE CAPACITY, AND RESOURCE ALIGNMENT TO ENSURE THE REGION REMAINS A VIBRANT, ATTRACTIVE COMMUNITY FOR BUSINESSES AND PEOPLE FOR DECADES TO COME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nick Hobbs Co-Chair | OfficerTrustee | 1 | $0 |
Todd Simmons Co-Chair & Secretary | OfficerTrustee | 1 | $0 |
Jim Walton Co-Chair | OfficerTrustee | 1 | $0 |
Marshall Saviers Vice Chair/treasurer | OfficerTrustee | 1 | $0 |
Canem Arkan Member | Trustee | 1 | $0 |
Carl George Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Plug & Play Llc Supply Chain & Logistics Accelerator | 12/30/22 | $250,000 |
Jack Morton Worldwide Diversity Consulting | 12/30/22 | $180,021 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $764,180 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,082,501 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,846,681 |
| Total Program Service Revenue | $374,032 |
| Investment income | $1,819 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,222,532 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,647 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,297 |
| 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 | $752 |
| Insurance | $0 |
| All other expenses | $51,466 |
| Total functional expenses | $3,873,711 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $692,533 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $133,143 |
| 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 | $26,952 |
| Net Land, buildings, and equipment | $3,884 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $856,512 |
| Accounts payable and accrued expenses | $199,934 |
| Grants payable | $0 |
| Deferred revenue | $294,928 |
| 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 | $0 |
| Total liabilities | $494,862 |
| Net assets without donor restrictions | $359,150 |
| Net assets with donor restrictions | $2,500 |
| 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 | $856,512 |