Fulton County Economic Development Corporation

Nonprofit profile at a glance

EIN
465605818
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Wauseon, OH, USA
Phone
4193379270
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$276,024
Expenses
$310,774
Assets
$206,457
Liabilities
$82,767

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

Leadership & pay

20 people listed

Highest reported compensation

  • JIM WYSE (EXECUTIVE DI): $17,308 total reported compensation

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

Overview

Mission

The corporation is organized to act as the vehicle for the unified countywide effort promoting the economic health of fulton county, Ohio communities and businesses through two way communication, constant networking with businesses to strengthen the economic climate of the county, the retention of existing industry, and the systematic recruitment of new businesses to stimulate and ensure the area's continued and orderly growth.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.7%; rating input score 74
  • Program expense ratio: 65.4%; rating input score 65
  • Fundraising efficiency: $11.92 raised per $1 spent on fundraising; rating input score 44; 44th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Fail

Sustainability

  • Operating margin: -12.6%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 0.66; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.4; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 5.6%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 5.4% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 6.3% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 73.7% of revenue deployed · 65.4% of spending went to programs
  • Governance: 20 of 20 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $203K in reported program spending
  • Leadership: top reported pay $17K · 20 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 2 filed schedules · includes major donors
  • Filing history: 10 filing years from 2014 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 — Financial Efficiency: Fundraising efficiency scored 44/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 20/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.