Eden Economic Development Corporation

Nonprofit profile at a glance

EIN
752653806
IRS 990 coverage
2019–2021
Forms available
Form 990 2021
Location
Eden, TX, USA
Phone
3258692211
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public, Societal Benefit

Reported finances

Revenue
$144,094
Expenses
$107,137
Assets
$794,681
Liabilities
$159,117

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • Brent Frieser (President Elect)

People named in this filing

  • Cam Kleibrink (Director)
  • Brent Frieser (President Elect)
  • Kit Hall (Treasurer)

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 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To develop programs that promote the City of Eden

What it reported doing in 2021

To provide approximately 33% of the cost of the Economic Developement Coordinator who is responsible for the development of programs to promote the City of Eden attending various exhibits to hand out promotional items, & coordinate tourism activities with the City, Chamber & Spirit of Eden(non-profit corporation). To subsidize the payroll costs for a community child care center for children of lowincome families. Funding for business start-ups and loss reserve for uncollectible loans used to help businesses upgrade or expand their facilities.

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. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 70
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.9%; rating input score 75
  • Program expense ratio: 100%; rating input score 100
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • 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: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 25.6%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 7.42; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: 7.9% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: -6.5% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: 3.9% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 74.9% of revenue deployed · 100% of spending went to programs
  • Governance: 8 of 8 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $107K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2019 to 2021
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.