Audubon County Economic Development

Nonprofit profile at a glance

EIN
421303726
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Audubon, IA, USA
Phone
7125632742
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$488,573
Expenses
$507,177
Assets
$1,570,471
Liabilities
$423,405

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

Leadership & pay

12 people listed

Executive titles in this filing

  • TROY WESSEL (PRESIDENT)
  • PAT KAISER (VICE PRESIDENT)

Highest reported compensation

  • SARA SLATER (KEY EMPLOYEE): $56,833 total reported compensation

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

Overview

Mission

Assist existing county businesses with retention and expansion; solicit new businesses; create and acquire space for new businsses; and enhance the quality of life in audubon county Iowa.

What it reported doing in 2024

The organization distributed retained funds for community projects in audubon, brayton, exira, and gray. This includes the facade program, grant matches, housing resources, and 50% of privately owned demos.

Operating model

Revenue model
Earned-program. 69% of the money available for current operations came from fees and other program revenue.
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 - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 85
  • Accountability: 74
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.8%; rating input score 86
  • Program expense ratio: 81.6%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.8%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 3.1; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 11.2%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 10% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 10.7% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 14.1% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 85.8% of revenue deployed · 81.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 3 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $414K in reported program spending
  • Leadership: top reported pay $57K · 12 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 2 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.