City of Morgantown Industrial Holding Corporation

Nonprofit profile at a glance

EIN
611178808
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Morgantown, KY, USA
Phone
2705263557
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$13,304
Expenses
$21,293
Assets
$1,462,626
Liabilities
$0

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

Leadership & pay

6 people listed

Executive titles in this filing

  • SHARON JOHNSON (PRESIDENT)

Highest reported compensation

  • DIONNE MERRITT (SECRETARY): $5,000 total reported compensation
  • AMY DEWEESE (DIRECTOR): $5,000 total reported compensation
  • SHARON JOHNSON (PRESIDENT): $5,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promote industry in the city of morgantown, ky. To help create jobs & work opportunities.

What it reported doing in 2024

Promote industry in the city of morgantown, ky. To help create jobs & work opportunities .

Operating model

Revenue model
Investment-supported. 68% of the money available for current operations came from recurring investment income.
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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 14
  • Sustainability: 48
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -60%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 68.69; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 34% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: -48.7% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -4.9% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 6 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $21K in reported program spending
  • Leadership: top reported pay $5K · 6 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • 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 — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 6 of 9 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 26/100.
  • High — Growth: Asset growth scored 0/100.