Clear Creek Economic Development Corporation Inc

Nonprofit profile at a glance

EIN
840972025
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Georgetown, CO, USA
Phone
3035692133
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$464,474
Expenses
$187,410
Assets
$2,650,885
Liabilities
$130,841

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

Leadership & pay

11 people listed

Executive titles in this filing

  • LINDSEY VALDEZ (CEO)

Highest reported compensation

  • LINDSEY VALDEZ (CEO): $99,150 total reported compensation

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

Overview

Mission

To provide economic development services to clear creek county and its municipalities. In addition, the ccedc administers a business loan fund program in clear creek and gilpin counties (region 3).

What it reported doing in 2024

Ccedc administers a business loan fund, land and development bank, and other special projects and programming that promote economic vitality in clear creek county. The organization has an agreement with clear creek county for the administration of the state of Colorado office of economic development and international trade (oedit) region 3 community development block grant business loan fund program. Region 3 is made up of clear creek and gilpin counties.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 75
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 29.5%; rating input score 30
  • Program expense ratio: 78.9%; rating input score 79
  • Fundraising efficiency: $38.88 raised per $1 spent on fundraising; rating input score 72; 72nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: 59.7%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 14.14; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 52.9%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: -7.8% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 3.5% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 16.3% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 29.5% of revenue deployed · 78.9% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $99K · 11 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 30/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.