Carroll Area Development Corp Dba Carroll County Growth Partnership

Nonprofit profile at a glance

EIN
421255277
IRS 990 coverage
2014–2025
Forms available
Form 990 2025
Location
Carroll, IA, USA
Phone
7127924383
Rating
55
Verdict
MIXED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$313,589
Expenses
$330,149
Assets
$279,225
Liabilities
$2,822

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

Leadership & pay

37 people listed

Executive titles in this filing

  • MIKE FRANEY (President)
  • ADAM SCHWEERS (Vice President)

People named in this filing

  • JIM AUEN (Secretary)
  • MIKE FRANEY (President)
  • ADAM SCHWEERS (Vice 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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provides economic development resources and expertise to businesses and communities throughout carroll county to enhance growth, while strengthening the communities and building a greater quality of place

What it reported doing in 2025

Promotional materials used to foster interest in the area for business development. This includes literature given out as information on the area, as well as awards to recognize existing businesses and leaders in the area.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 17
  • Transparency & Controls: 88
  • Accountability: 76
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 20%; rating input score 20
  • Program expense ratio: 19%; rating input score 19
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 20th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -5.3%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 11.6% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 6.2% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 20% of revenue deployed · 19% of spending went to programs
  • Governance: 37 of 37 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $79K in reported program spending
  • Leadership: top reported pay $0 · 37 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 11 filing years from 2014 to 2025
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 20/100.
  • High — Financial Efficiency: Program expense ratio scored 19/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 25/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.