Baxter Economic Development Corporation (BEDCO)

Legal name: Baxter Economic Development Corp

Nonprofit profile at a glance

EIN
421314834
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Baxter, IA, USA
Phone
6415214934
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Religion Related N.E.C.
Affiliation
Religious (unspecified)

Official website

Reported finances

Revenue
$66,229
Expenses
$78,257
Assets
$804,420
Liabilities
$378,965

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

Leadership & pay

5 people listed

Executive titles in this filing

  • JON NORTHRUP (President)
  • RYAN FREDREGILL (Vice President)

People named in this filing

  • KATIE PETERMEIER (Director)
  • MIKE MANSHIP (Secretary)
  • JON NORTHRUP (President)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

BEDCO is committed to enabling economic growth by facilitating the development of housing and new businesses, providing support and solutions to existing businesses, as well as protecting the small-town values that make Baxter an excellent community to call home.

What it reported doing in 2024

To promote baxter community economic and business growth and initiatives

Operating model

Revenue model
Grant-funded. 71% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 81
  • Accountability: 88
  • Sustainability: 46
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.5%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 13th 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; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -18.2%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 10.28; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.47; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -8.4% per year; rating input score 0; 31st percentile among comparable filings
  • Revenue growth: -5.8% per year; rating input score 0; 41st percentile among comparable filings
  • Asset growth: -1.9% per year; rating input score 0; 31st percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 95.5% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $75K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.