Equine Development Coalition of Minnesota

Nonprofit profile at a glance

EIN
271150055
IRS 990 coverage
2010–2012
Forms available
Form 990 2012
Location
Orono, MN, USA
Phone
6129638900
Rating confidence
Limited
Sector
Women's Rights

Reported finances

Revenue
$112,500
Expenses
$97,714
Assets
$26,277
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

7 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

This corporation promotes the common business interests of and improves the business conditions of the Minnesota pari-mutuel horseracing industry.

What it reported doing in 2012

This organization's activites are directed at the improvement of business conditions in the pari-mutuel racing industry. This organization is operating to raise public awareness regarding the importance of the pari-mutuel horseracing industry to Minnesota's economy and to advocate for changes in current law that will increase employment and otherwise improve business conditions for this important sector of Minnesota's economy.

Operating model

Revenue model
Membership-supported. 100% of the money available for current operations came from membership dues.
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: 92
  • Accountability: 69
  • Sustainability: 50
  • Growth: 0

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; 60th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • 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: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 13.1%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 0.27; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 87; 87th percentile among comparable filings
  • Officer compensation ratio: 50.1%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -49.2% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -10.8% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 4 of 4 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $25K · 7 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 2 filing years from 2010 to 2012
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

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

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.