Anderson County Economic Dev Assoc

Nonprofit profile at a glance

EIN
620718526
IRS 990 coverage
2013–2023
Forms available
Form 990 2023, Form 990-EZ 2011
Location
Clinton, TN, USA
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$716,691
Expenses
$630,286
Assets
$495,855
Liabilities
$20,597

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

31 people listed

Executive titles in this filing

  • JAMES A WALLACE (PRESIDENT)

People named in this filing

  • MAYOR KERRY TEMPLIN (BOARD MEMBER)
  • ROBERT BAIRD (BOARD MEMBER)
  • TIM ISBEL (BOARD MEMBER)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Industrial development prospects

What it reported doing in 2023

The organization was engaged during the year in marketing the community to provide industrial prospects for the purpose of generating private capital investments broadening local tax base and the generation of new and additional job opportunities for local residents. In addition the organization coordinates all activities related to federal loans and grants as well as private bond issues directly related to individual industrial site developments and for the larger tracts of land to be utilized as industrial.

Operating model

Revenue model
Grant-funded. 64% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 57
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.2%; rating input score 88
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12.1%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 0.79; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 1.1% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 7.5% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 4.9% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 88.2% of revenue deployed · 100% of spending went to programs
  • Governance: 31 of 31 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $630K in reported program spending
  • Leadership: top reported pay $0 · 31 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2013 to 2023
  • 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.

  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.