Economic Development Center of Washington County Inc

Nonprofit profile at a glance

EIN
208973389
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Greenville, MS, USA
Phone
6623783141
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$1,092,595
Expenses
$1,081,185
Assets
$629,550
Liabilities
$33,375

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

Leadership & pay

4 people listed

Executive titles in this filing

  • DREW NEWSOM (Vice President)

Highest reported compensation

  • HILLARY BOGGS (Controller): $82,400 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 promote and assist in economic development, job creation and job training for Washington county, ms and surrounding areas. To promote and assist existing businesses in the area.

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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 90
  • Accountability: 5
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80%; rating input score 80
  • Program expense ratio: 80.6%; rating input score 81
  • 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: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • 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: 1%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 0.58; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 7.6%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: 17% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 11.7% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 10.5% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 80% of revenue deployed · 80.6% of spending went to programs
  • Governance: 0 of 4 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $82K · 4 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.