Explore Edina

Nonprofit profile at a glance

EIN
471689543
IRS 990 coverage
2017–2017
Forms available
Form 990 2017
Location
Edina, MN, USA
Phone
9528069063
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Business and Industry

Reported finances

Revenue
$441,232
Expenses
$669,279
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

11 people listed

People named in this filing

  • Jack Abdo (Treasurer)
  • Joe Arends (Director)
  • Terry Lewis (Director)

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 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To attract regional, national and international visitors to Edina thereby increasing revenues, stimulating economic development and creating positive awareness for the community's tourism assets.

Operating model

Revenue model
Grant-funded. 98% of the money available for current operations came from government grants.
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 total spending goes to programs and the required major-donor schedule is missing or incomplete.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 75
  • Accountability: 77
  • Sustainability: 11
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.1%; rating input score 80
  • Program expense ratio: 53.1%; rating input score 53
  • Fundraising efficiency: $14.35 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings

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: No; rating input score 0
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 24th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -51.7%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 80.1% of revenue deployed · 53.1% of spending went to programs
  • Governance: 10 of 11 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $356K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 2 filed schedules · includes major donors
  • 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.

  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • High — Transparency & Controls: Major donor itemization scored 0/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 51/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.