Community Main Street Inc

Nonprofit profile at a glance

EIN
421303027
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cedar Falls, IA, USA
Phone
3192770213
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$591,112
Expenses
$441,064
Assets
$1,382,740
Liabilities
$161,827

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

Leadership & pay

13 people listed

Executive titles in this filing

  • EMILEE NEDOBA (PRESIDENT)
  • BRENT JOHNSON (PAST PRESIDENT)
  • KIMBERLY BEAR (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KIMBERLY BEAR (EXECUTIVE DIRECTOR): $66,596 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 foster economic vitality and to preserve and promote the historic image and character of downtown while improving the quality of life in cedar falls, Iowa

What it reported doing in 2024

Promotion of business and community development of downtown district in cedar falls, Iowa. Accomplished through membership organization, marketing, and promotion activities.

Operating model

Revenue model
Grant-funded. 68% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 76% for direct work, and 24% for grants.

The verdict

SUPPORTED - 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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 85
  • Accountability: 69
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.7%; rating input score 69
  • Program expense ratio: 90.1%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 83.2%; rating input score 83; 35th percentile among comparable filings
  • 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 25.4%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 3.14; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 15.1%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 68.7% of revenue deployed · 90.1% of spending went to programs
  • Governance: 13 of 13 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $398K in reported program spending
  • Leadership: top reported pay $67K · 13 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 4 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 23/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.