Dewitt Chamber & Development Co

Nonprofit profile at a glance

EIN
421342254
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Dewitt, IA, USA
Phone
5636598508
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$511,405
Expenses
$311,789
Assets
$1,035,329
Liabilities
$162,880

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

Leadership & pay

19 people listed

Highest reported compensation

  • ANGELA RHEINGANS (BOARD SEC/EX): $113,000 total reported compensation

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

Overview

Mission

Lead, inform, advocate and advance business interests and promote community growth in dewitt. Our core focus is to support existing businesses, attract new business, and assist in enhancing the quality of life for our community.

What it reported doing in 2024

The dcdc is involved in supporting existing businesses, and recruiting new businesses to the dewitt area. The dcdc partners with three regional economic development entities, grow clinton, quad cities chamber, prosperity of eastern Iowa and the state of Iowa to recruit new business to the crossroads business park and community at large. The dcdc responds to prospective business inquiries regarding expansion opportunities in our community. Our staff lead community workforce development initiatives with businesses, community colleges, and high schools in our region; including hands on activities which provide 1,000+ area students with multiple career exposure opportunities including roundtable discussions, mock interviews, job shadows and internships, and a science, technology, engineering and mathematics (stem) festival. The dcdc continues conversations with our area community college to expand services to our community which support the utilization of the community college and school district's career advancement center in dewitt. Chamber bucks gift checks were purchased by the community, promoting and encouraging supporting local businesses. A look local first initiative is promoted to encourage residents, employees and visitors to purchase goods and services within the community. Since inception, the llf punch card program has tracked over 5.17 million dollars in local purchases. The dcdc is the primary point of contact to share general and organization specific information regarding federal and state programs and initiatives with area businesses.

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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 33
  • Transparency & Controls: 84
  • Accountability: 69
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37%; rating input score 37
  • Program expense ratio: 38.2%; rating input score 38
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th 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: 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: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 39%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 3.32; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 36.2%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 13.4% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 3.1% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 37% of revenue deployed · 38.2% of spending went to programs
  • Governance: 17 of 17 board members independent · 2 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $119K in reported program spending
  • Leadership: top reported pay $113K · 19 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 37/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 38/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.