Greater Altoona Economic Development Corporation

Nonprofit profile at a glance

EIN
251515053
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Altoona, PA, USA
Phone
8149423484
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$8,872
Expenses
$22,910
Assets
$202,796
Liabilities
$0

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

Leadership & pay

12 people listed

Executive titles in this filing

  • STEPHEN MCKNIGHT (EXECUTIVE DIRECTOR)

People named in this filing

  • LARRY BILOTTO (BOARD MEMBER)
  • DAVE BUTTERBAUGH (BOARD MEMBER)
  • LA VONNE FALBO (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 implement and complete activites necessary for development of a revitalization plan for the city of altoona and surrounding communities.

What it reported doing in 2024

Enterprise zone, facade rehabilitation, and economic development- to implement and complete those activities necessary for development of a revitalization plan for the city of altoona

Operating model

Revenue model
Donor-supported. 74% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 61% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - 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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 83
  • Accountability: 82
  • Sustainability: 40
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.6%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 24th 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -158.2%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 8.85; rating input score 61; 61st 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: -8.1% per year; rating input score 0; 32nd percentile among comparable filings
  • Revenue growth: -6.8% per year; rating input score 0; 38th percentile among comparable filings
  • Asset growth: -2.3% per year; rating input score 0; 29th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $21K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Accountability: Governance controls: 3 of 7 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Growth: Asset growth scored 0/100.