Fort Collins Local Development Company

Nonprofit profile at a glance

EIN
840878717
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fort Collins, CO, USA
Phone
9702243400
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$4,448
Expenses
$5,860
Assets
$731,958
Liabilities
$0

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

Leadership & pay

10 people listed

Executive titles in this filing

  • STEVE TAYLOR (PRESIDENT)
  • MATT ROBENALT (VICE PRESIDENT)

People named in this filing

  • STEVE TAYLOR (PRESIDENT)
  • MATT ROBENALT (VICE PRESIDENT)
  • LUKE SANTANGELO (SECRETARY)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To enhance the aesthetic and economic development of downtown fort collins, Colorado.

What it reported doing in 2024

The organization promotes the rejuvenation of downtown fort collins by offering low-interest loans more favorable than the conventional market for facade and interior renovation projects. The organization has funded over 100 projects since its inception, and has played a key role in aesthetic enhancement and general economic development of the city of fort collins.

Operating model

Revenue model
Earned-program. 83% of the money available for current operations came from fees and other program revenue.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 47
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 60
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.6%; rating input score 55
  • Program expense ratio: 49.8%; rating input score 50
  • 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; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • 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: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -31.7%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 124.91; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 2.6% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: -1.5% per year; rating input score 0; 54th percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 54.6% of revenue deployed · 49.8% of spending went to programs
  • Governance: 10 of 10 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $3K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • 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: Mission deployment rate scored 55/100.
  • Review — Financial Efficiency: Program expense ratio scored 50/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 35/100.