Nonprofit · EIN 71-0405994
CONWAY DEVELOPMENT CORPORATION
Tax-exempt · CONWAY, AR 72032
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,436,864 | $2,501,725 | -$64,861 | $31,676,136 | $11,965,805 | $19,710,331 |
| December 31, 2023 | 990 | $11,009,680 | $6,857,882 | $4,151,798 | $34,225,498 | $14,347,602 | $19,877,896 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $118,000
- Membership dues
- $118,000
- Program service revenue
- $630,746
- Investment income
- $805,093
- Net rental income
- $877,550
- Net gain from sales of assets
- $519,005
- Other revenue
- $883,025
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $763,336
- Salaries, compensation and benefits (total)
- $763,336
- Professional fundraising fees
- $0
- Legal fees
- $31,253
- Occupancy
- $14,994
- Travel
- $52,915
- Depreciation
- $33,296
Balance sheet and other
- Total assets, start of year
- $34,225,498
- Total assets, end of year
- $31,676,136
- Total liabilities, end of year
- $11,965,805
- Net assets, end of year
- $19,710,331
- Land, buildings and equipment
- $25,606,309
- Net assets without donor restrictions
- $19,710,331
- Gross receipts
- $4,098,036
- Employees
- 4
- Volunteers
- 18
- Year formed
- 1969
- State of legal domicile
- AR
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRAD LACY | SECRETARY/TREASURER Officer | 40 | $320,811 | $7,439 |
| JOHN-LEWIS J GATES | EXECUTIVE VICE PRESIDENT Key employee | 40 | $240,762 | $7,439 |
| LAURA GRIMES | CHIEF FINANCIAL OFFICER Key employee | 40 | $160,903 | $7,439 |
| COREY PARKS | CHIEF ECONOMIC DEVELOPMENT OFFICER Key employee | 40 | $155,358 | $7,439 |
| BILL ADKISSON | PRESIDENT Trustee or director, Officer | 10 | $0 | $0 |
| JERRY ADAMS | VICE CHAIRMAN Trustee or director, Officer | 10 | $0 | $0 |
| BRAD HEGEMAN | DIRECTOR Trustee or director | 5 | $0 | $0 |
| BRET CARROLL | DIRECTOR Trustee or director | 5 | $0 | $0 |
| BUNNY ADCOCK | DIRECTOR Trustee or director | 5 | $0 | $0 |
| DR HOUSTON DAVIS | DIRECTOR Trustee or director | 5 | $0 | $0 |
| DREW GAINOR | DIRECTOR Trustee or director | 5 | $0 | $0 |
| EDDIE GLOVER | DIRECTOR Trustee or director | 5 | $0 | $0 |
| BART CASTLEBERRY | DIRECTOR Trustee or director | 5 | $0 | $0 |
| JEFF STANDRIDGE | DIRECTOR Trustee or director | 5 | $0 | $0 |
| JIM RANKIN | DIRECTOR Trustee or director | 5 | $0 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOHNNY ADAMS | DIRECTOR Trustee or director | 5 | $0 |
| KAREN GARRETT | DIRECTOR Trustee or director | 5 | $0 |
| MARK FERGUSON | DIRECTOR Trustee or director | 5 | $0 |
| MARY WARD | DIRECTOR Trustee or director | 5 | $0 |
| RONNIE WILLIAMS | DIRECTOR Trustee or director | 5 | $0 |
| SCOTTY BELL | DIRECTOR Trustee or director | 5 | $0 |
990 for the year ended December 31, 2023: 21 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BRAD LACY | SECRETARY/TREASURER Key employee | 40 | $316,704 |
| JOHN-LEWIS J GATES | EXECUTIVE VICE PRESIDENT Key employee | 40 | $224,504 |
| LAURA GRIMES | CHIEF FINANCIAL OFFICER Highest-paid employee | 40 | $157,369 |
| COREY PARKS | CHIEF ECONOMIC DEVELOPMENT OFFICER Highest-paid employee | 40 | $152,975 |
| BILL ADKISSON | CHAIRMAN Trustee or director | 10 | $0 |
| JERRY ADAMS | VICE CHAIRMAN Trustee or director | 10 | $0 |
| RONNIE WILLIAMS | DIRECTOR Trustee or director | 5 | $0 |
| MARK FERGUSON | DIRECTOR Trustee or director | 5 | $0 |
| EDDIE GLOVER | DIRECTOR Trustee or director | 5 | $0 |
| BRAD HEGEMAN | DIRECTOR Trustee or director | 5 | $0 |
| JOHNNY ADAMS | DIRECTOR Trustee or director | 5 | $0 |
| BRET CARROLL | DIRECTOR Trustee or director | 5 | $0 |
| JEFF STANDRIDGE | DIRECTOR Trustee or director | 5 | $0 |
| BUNNY ADCOCK | DIRECTOR Trustee or director | 5 | $0 |
| JIM RANKIN | DIRECTOR Trustee or director | 5 | $0 |
| SCOTTY BELL | DIRECTOR Trustee or director | 5 | $0 |
| BART CASTLEBERRY | DIRECTOR Trustee or director | 5 | $0 |
| MARY WARD | DIRECTOR Trustee or director | 5 | $0 |
| DREW GAINOR | DIRECTOR Trustee or director | 5 | $0 |
| KAREN GARRETT | DIRECTOR Trustee or director | 5 | $0 |
| DR HOUSTON DAVIS | DIRECTOR Trustee or director | 5 | $0 |
Address and contacts
- Address (IRS master file)
- 900 OAK ST, CONWAY, AR 72032-4402
- Principal officer (990 for 2024)
- BRAD LACY, 900 OAK STREET, CONWAY, AR 72032
- Signed the 990
- BRAD LACY, PRESIDENT
- Phone
- (501) 327-7788
- Return prepared by
- LANDMARK PLC CPAS
Mission
ENHANCE INDUSTRY OPPORTUNITIES IN CONWAY, AR THROUGH ECONOMIC DEVELOPMENT
Program accomplishments
- THE CONWAY DEVELOPMENT CORPORATION RESPONDED TO SITE SELECTION AND EXPANSION REQUESTS MONTHLY ON BEHALF OF THE CITY OF CONWAY AND FAULKNER COUNTY. THE CDC MANAGED ITS LAND PORTFOLIO AND ASSETS FOR THE BENEFITS OF THE COMMUNITY AND FUTURE ECONOMIC DEVELOPMENT OPPORTUNITIES. CDC STAFF REPRESENTED THE ORGANIZATION AND COMMUNITY IN A NUMBER OF SETTINGS FACILITATING ECONOMIC GROWTH FOR CONWAY AREA RESIDENTS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 71-0405994
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1969
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $31,676,136
- Income (IRS master file)
- $4,098,036
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,436,864 | $2,501,725 | $31,676,136 | XML |
| 990 | December 2023 | $11,009,680 | $6,857,882 | $34,225,498 | XML |
| 990 | December 2022 | $1,694,578 | $1,975,754 | $34,094,467 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 71-0405994).
Questions about CONWAY DEVELOPMENT CORPORATION
- What is the EIN of CONWAY DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of CONWAY DEVELOPMENT CORPORATION is 71-0405994.
- Is CONWAY DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1969.
- Are donations to CONWAY DEVELOPMENT CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CONWAY DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CONWAY DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CONWAY DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of CONWAY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 names BRAD LACY.
- Who are the officers and directors of CONWAY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 21 people; 4 received compensation from the organization, the highest $320,811 (BRAD LACY, SECRETARY/TREASURER).
- How much revenue does CONWAY DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,436,864, expenses of $2,501,725 and total assets of $31,676,136 at year end.
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