Evansville Regional Economic Partnership Foundation

Nonprofit profile at a glance

EIN
351798568
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Evansville, IN, USA
Phone
8122531013
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$336,947
Expenses
$340,215
Assets
$2,384,691
Liabilities
$63,300

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

Leadership & pay

6 people listed

Highest reported compensation

  • LLOYD WINNECKE (EX-OFFICIO): $278,673 total reported compensation

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

Overview

Mission

Promote business growth and activities in evansville, Indiana.

What it reported doing in 2024

To provide facilities and support services to developing organizations and to promote growth in evansville and vanderburgh county.

Operating model

Revenue model
Grant-funded. 72% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 73% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 99
  • Transparency & Controls: 82
  • Accountability: 70
  • Sustainability: 51
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99%; rating input score 99
  • Program expense ratio: 98%; rating input score 98
  • Fundraising efficiency: $953.16 raised per $1 spent on fundraising; rating input score 98; 98th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 7.01; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: -6.5% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: -8.6% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 99% of revenue deployed · 98% of spending went to programs
  • Governance: 4 of 6 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $333K in reported program spending
  • Leadership: top reported pay $279K · 6 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.