Boone County Economic Development Corporation

Nonprofit profile at a glance

EIN
351768561
IRS 990 coverage
2015–2025
Forms available
Form 990 2025
Location
Lebanon, IN, USA
Phone
4632139936
Rating confidence
Limited
Sector
Public, Societal Benefit

Reported finances

Revenue
$759,251
Expenses
$539,858
Assets
$1,364,153
Liabilities
$126,087

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • ANDREA KERN (CEO)

Highest reported compensation

  • ANDREA KERN (CEO): $101,700 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote economic development in boone county.

What it reported doing in 2025

The business retention & expansion program is designed to support existing boone county employers by identifying their needs, addressing challenges, and helping them grow.in 2025, boone edc conducted 35 br&e visits with local companies representing over 600 employees. These visits were conducted throughout the year and provided direct engagement with employers to assess workforce needs, infrastructure concerns, and expansion opportunities. Boone edc connected businesses to resources, technical assistance, and partner organizations to help retain jobs and encourage reinvestment in the community.additionally, boone edc administers a microloan program to support small business growth and entrepreneurship. This program provides access to capital for local businesses, helping them start, expand, and stabilize operations within boone county.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 65
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 28.9%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 2.53; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 18.8%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.8% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 9.3% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $102K · 8 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 10 filing years from 2015 to 2025
  • 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.

  • High — Sustainability: Officer compensation ratio scored 18/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.