Boone County Economic Development Corporation

Nonprofit profile at a glance

EIN
716057028
IRS 990 coverage
2013–2023
Forms available
Form 990 2023
Location
Harrison, AR, USA
Phone
8707417474
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$24,672
Expenses
$902,940
Assets
$0
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • CRAIG CAMPBELL (PRESIDENT)

People named in this filing

  • CATHY BRANDT (TREASURER)
  • CRAIG CAMPBELL (PRESIDENT)
  • JANE CHRISTENSON (DIRECTOR)

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

To develop an industrial park and facilitate workforce development for boone county, Arkansas

What it reported doing in 2023

Provides 150,000 for a center for robotics manufacting and innovation (crmi) scholarship fund. Northwest Arkansas economic development inc. (nwaedd), with appropriate partners, will develop a scholarship program for students attending the crmi. Additional funds will be placed in a "special workforce fund" to be distributed to pay for any additional items that are not eligible to be paid under federal programs but are an urgent financial need for students.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 93
  • Accountability: 82
  • Sustainability: 9
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.8%; 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: 99.6%; rating input score 100; 59th 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: 4 of 7 controls in place; rating input score 57
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3,559.8%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 40% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 12.2% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: -7.4% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $901K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 11 filing years from 2013 to 2023
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.