Great Bend Economic Development Inc

Nonprofit profile at a glance

EIN
843800700
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Great Bend, KS, USA
Phone
6207962407
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$804,973
Expenses
$965,064
Assets
$1,002,290
Liabilities
$282,587

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

Leadership & pay

7 people listed

People named in this filing

  • AJ CREST (BOARD MEMBER)
  • RYAN FAIRCHILD (VICE CHAIR)
  • MATT HISS (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

The corporation is organized to promote and support economic development for the benefit of all citizens of great bend, ks and the surrounding area. To recruit and retian industrial, retail and other businesses to great bend, ks and surrounding area. To encourage and support entrepreneurship and business development in great bend, ks and the surrounding area. To create and utilize economic metrics and indicators. To conduct related economic development and to conduct marketing, fostering communication with targeted businesses and industries.

Operating model

Revenue model
Grant-funded. 63% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.1%; rating input score 99
  • 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: -19.9%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 1.04; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.28; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 46.5% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 26.1% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 24.8% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.1% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2020 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 9/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.