Bastrop Economic Development Corp

Nonprofit profile at a glance

EIN
742760534
IRS 990 coverage
2009–2017
Forms available
Form 990 2017
Location
Bastrop, TX, USA
Phone
5123039700
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Public, Societal Benefit

Official website

Reported finances

Revenue
$2,624,897
Expenses
$1,517,716
Assets
$8,339,578
Liabilities
$5,284,124

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • SHAWN KIRKPATRICK (EXECUTIVE DIRECTOR)
  • MICHAEL KAMERLANDER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SHAWN KIRKPATRICK (EXECUTIVE DIRECTOR): $135,714 total reported compensation
  • ANGELA RYAN (EXECUTIVE ASSISTANT): $83,930 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To enhance the quality of life in bastrop by providing the appropriate infrastructure as required. The bastrop edc will promote and assist economic development which will provide our residents meaningful and rewarding employment opportunities and greater access to desirable goods and services.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 67% for direct work, and 33% for grants.

The verdict

STRONG - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 93
  • Accountability: 95
  • Sustainability: 73
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.1%; rating input score 59
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 71st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 42.2%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 5.49; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.63; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 14.5%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: -32.1% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 59.1% of revenue deployed · 100% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $136K · 10 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 9 filing years from 2009 to 2017
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 59/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.