Greater Kokomo Economic Development Alliance Inc

Nonprofit profile at a glance

EIN
351499686
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Kokomo, IN, USA
Phone
7654572000
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$1,550,905
Expenses
$1,418,622
Assets
$4,318,227
Liabilities
$175,335

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

Leadership & pay

26 people listed

Executive titles in this filing

  • LORI DUKES (CEO & PRESIDENT)

Highest reported compensation

  • LORI DUKES (CEO & PRESIDENT): $133,440 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 greater kokomo economic development alliance aligns and leverages resources to build community prosperity. We seek to foster economic prosperity for kokomo and howard county through new investment, population growth, and the continued success of the area's businesses and residents.

What it reported doing in 2024

Economic development, leadership, and collaboration of initiatives that lead to community economic prosperity. Facilitate economic growth of the community through the attraction of jobs, investment, visitors, and residents. Develop, retain, and attract talent to enhance thecommunity. Foster an entrepreneurial culture and provide infrastructure for innovators to create and grow business enterprises. Promote and support efforts to drive investment in quality assets and activities to benefit current and future employers and residents.

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. Some filing-based governance responses are negative or unanswered and some related-organization disclosures are missing.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.5%; rating input score 70
  • Program expense ratio: 75.8%; rating input score 76
  • 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: Yes; rating input score 100
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.5%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 3.04; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 9.4%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: 9.4% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 6.2% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 2.6% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 69.5% of revenue deployed · 75.8% of spending went to programs
  • Governance: 25 of 25 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $133K · 26 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 6 filed schedules · includes major donors and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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 8 not reported.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Sustainability: Operating margin scored 58/100.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.