Garrett County Development Corporation
Nonprofit profile at a glance
- EIN
- 520956893
- IRS 990 coverage
- 2016–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-N 2023
- Location
- Oakland, MD, USA
- Phone
- 301.859.0419
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,407,248
- Expenses
- $973,695
- Assets
- $847,723
- Liabilities
- $4,300
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
People named in this filing
- JON BELL (BOARD MEMBER)
- SHAWN R BENDER (BOARD MEMBER)
- GEORGE C EDWARDS (BOARD MEMBER)
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 assist in the development and enhancement of the business prosperity and economic well-being of Garrett County.
What it reported doing in 2024
Promoted garrett county businesses.
Operating model
- Revenue model
- Grant-funded. 97% of the money available for current operations came from government grants.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 72
- Transparency & Controls: 100
- Accountability: 70
- Sustainability: 69
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 69.7%; rating input score 70
- Program expense ratio: 99.5%; rating input score 100
- 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; 63rd percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- Conflict-of-interest policy: Fail
- 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: 30.8%; rating input score 85; 85th percentile among comparable filings
- Total-asset coverage ratio: 0.87; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 73; 73rd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 47.8% per year; rating input score 100; 95th percentile among comparable filings
- Revenue growth: 52.7% per year; rating input score 100; 97th percentile among comparable filings
- Asset growth: 4.6% per year; rating input score 100; 37th percentile among comparable filings
Details
- What they do: 1 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 69.7% of revenue deployed · 99.5% of spending went to programs
- Governance: 7 of 7 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $969K in reported program spending
- Leadership: top reported pay $0 · 7 people listed
- Consistency: 17 of 17 current checks pass
- Schedules: 3 filed schedules
- Filing history: 8 filing years from 2016 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Accountability: Governance controls: 4 of 6 not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.