Fairbanks Economic Development Corp

Nonprofit profile at a glance

EIN
920036148
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fairbanks, AK, USA
Phone
9074522185
Rating confidence
Limited

Official website

Reported finances

Revenue
$596,414
Expenses
$603,751
Assets
$547,917
Liabilities
$72,399

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

Leadership & pay

12 people listed

Executive titles in this filing

  • JOMO STEWART (CURRENT PRESIDENT/CEO)

Highest reported compensation

  • JOMO STEWART (CURRENT PRESIDENT/CEO): $130,365 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 assist in creating new jobs and new economic opportunities for residents of the fairbanks north star borough and our economic area.

What it reported doing in 2024

Rural outreach: fairbanks strives to be the economic, recreational and cultural hub of interior and northern Alaska. The city has long served as a conduit for commerce; trade, transportation, and natural resource development being its underpinning. In order to develop relationships and build regional capacity, fedc works with the fairbanks international airport, fairbanks north star borough, greater fairbanks chamber of commerce, tananan chiefs conference, leaders of interior communities, and more, to advance the collective needs of the region by working on the following projects: regional marketing, organization of trade missions to interior communities, monitoring bypass mail legislation, supporting transportation routes to rural communities, and the stamp your business "certified bush friendly" project.

Operating model

Revenue model
Grant-funded. 72% of the money available for current operations came from government grants.
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: 95
  • Sustainability: 33
  • Growth: 60

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; 63rd 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.2%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.91; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 21.6%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 11 of 11 board members independent · 7 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $124K in reported program spending
  • Leadership: top reported pay $130K · 12 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 10 filing years from 2010 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.

  • Moderate — Sustainability: Operating margin scored 32/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.