Covington County Economic Development Comm

Nonprofit profile at a glance

EIN
621504373
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Andalusia, AL, USA
Phone
3342227040
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$532,288
Expenses
$518,147
Assets
$647,363
Liabilities
$61,158

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

Leadership & pay

16 people listed

Executive titles in this filing

  • Jacob R Morgan (Executive Director)

People named in this filing

  • Mark Parker (ChairmanDirector)
  • Tim Loggins (Vice ChairmanDirector)
  • Becky Bracke (Director)

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

To promote industry and develop trade by inducing manufacturing, and commercial enterprises to locate and/or expand in Coviington County, Alabama.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
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

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: 84
  • Transparency & Controls: 100
  • Accountability: 67
  • Sustainability: 50
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.9%; rating input score 94
  • Program expense ratio: 93.9%; rating input score 94
  • 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: 93.8%; rating input score 94; 25th 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: 2.7%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 1.25; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 5.8% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 6.8% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: -5.5% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 93.9% of revenue deployed · 93.9% of spending went to programs
  • Governance: 15 of 16 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $487K in reported program spending
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 11 filing years from 2014 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: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.