Carthage Economic Development Corp

Nonprofit profile at a glance

EIN
431645623
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-N 2021
Location
Carthage, MO, USA
Phone
4172377358
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Public, Societal Benefit

Reported finances

Revenue
$85,399
Expenses
$781,014
Assets
$102,245
Liabilities
$621,930

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

Leadership & pay

9 people listed

Executive titles in this filing

  • JEFF WILLIAMS (PRESIDENT)

People named in this filing

  • JEFF WILLIAMS (PRESIDENT)
  • MARK GIER (VICE PRESIDE)
  • STANLEY J SCHMIDT (TREASURER)

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

Support and assist in the development of jobs in the city of carthage, Missouri, and thereby to enhance the economic welfare of carthage residents by fostering greater employment opportunities and the standard of living for the carthage community.

What it reported doing in 2024

Advising and consulting on most economic development projects that have occurred in the city, working with other organizations to guide and direct the growth of the city.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 83% 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: 70
  • Sustainability: 13
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; 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: 100%; rating input score 100; 80th 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • 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: -814.5%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.13; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 6.08; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 143.8% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: -151.7% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -131.8% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $781K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 2 filing years from 2023 to 2024
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.