Columbus Economic Development Corporation Inc

Nonprofit profile at a glance

EIN
582014651
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Columbus, GA, USA
Phone
7063271566
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public, Societal Benefit

Reported finances

Revenue
$826,023
Expenses
$337,871
Assets
$12,383,990
Liabilities
$1,817,538

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

Leadership & pay

10 people listed

People named in this filing

  • CHRISTOPHER WOODRUFF (VICE CHAIR)
  • JAMES RICK ALEXANDER (BOARD MEMBER)
  • JAMES E BUNTIN (BOARD MEMBER)

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

Provide incentives and other support as well as the development of property for the economic benefit of the city of columbus and the surrounding area.

What it reported doing in 2024

The organization has assisted the development authority of columbus, Georgia with respect to the structure and the financing of a number of projects desiring to relocate in columbus, Georgia. The location of the projects would not have been otherwise feasible without the support of the organization. The results were significant benefits to the community through creation of jobs and capital investment.

Operating model

Revenue model
Other-operating. 88% of the money available for current operations came from other operating revenue.
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: 53
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 87
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 38.8%; rating input score 39
  • Program expense ratio: 94.9%; rating input score 95
  • 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: 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 7 controls in place; rating input score 57
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 59.1%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 36.65; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 8.7% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 8.5% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: 38.8% of revenue deployed · 94.9% of spending went to programs
  • Governance: 10 of 10 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $321K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 39/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.