Economic Development Authority of Western Nevada (Edawn)

Nonprofit profile at a glance

EIN
880183034
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Reno, NV, USA
Phone
7758293700
Rating confidence
Limited

Official website

Reported finances

Revenue
$11,339,594
Expenses
$3,535,648
Assets
$24,390,630
Liabilities
$15,625,378

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

Leadership & pay

55 people listed

Executive titles in this filing

  • TAYLOR ADAMS (PRESIDENT/CEO)
  • NANCY MCCORMICK (SENIOR VICE-PRESIDENT)
  • HEATHER WESSLING GROSZ (SENIOR VICE-PRESIDENT)
  • DOUG ERWIN (SENIOR VICE-PRESIDENT)
  • SHEILA IMSDAHL (SENIOR VICE-PRESIDENT)
  • JUSTON BERG (VICE-PRESIDENT)

Highest reported compensation

  • TAYLOR ADAMS (PRESIDENT/CEO): $362,898 total reported compensation
  • HEATHER WESSLING GROSZ (SENIOR VICE-PRESIDENT): $229,124 total reported compensation
  • RAE MCELROY (COO): $154,950 total reported compensation

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

Overview

Mission

The economic development authority of western Nevada (edawn) is a private/ public partnership established in 1983, committed to adding quality jobs to the region by recruiting new companies, supporting the success of existing companies, and assisting newly forming companies, to diversify the economy and have a postitive impact on the quality of life in greater reno-sparks.

What it reported doing in 2024

Edawn works to expand the existing industry, the acquisition of new industry and to operate and maintain one or more federally approved foreign trade zones for the purpose of expanding international trade opportunities for business in Nevada.

Operating model

Revenue model
Grant-funded. 75% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 70
  • Accountability: 84
  • Sustainability: 74
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 97.1%; rating input score 97; 31st percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 68.8%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 6.9; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.64; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 36.3%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 11.2% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 27.3% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 34 of 35 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $363K · 55 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 9 of 9 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.