Greater Sacramento Area Economic Council

Nonprofit profile at a glance

EIN
465517841
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Sacramento, CA, USA
Phone
9164412144
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$12,028,183
Expenses
$5,958,517
Assets
$18,331,647
Liabilities
$907,589

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

Leadership & pay

101 people listed

Executive titles in this filing

  • BARRY BROOME (PRESIDENT & CEO)
  • ADRIAN TROELS (EXECUTIVE VICE PRESIDENT)
  • JASMINE WARD (VICE PRESIDENT OF MARKETIN)

Highest reported compensation

  • BARRY BROOME (PRESIDENT & CEO): $959,487 total reported compensation
  • ADRIAN TROELS (EXECUTIVE VICE PRESIDENT): $258,962 total reported compensation
  • BRITTANY JONES (CHIEF PERFORMANCE OFFICER): $247,184 total reported compensation

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

Overview

Mission

A public-private partnership to retain, attract and create sustainable businesses in six counties.

What it reported doing in 2024

The greater sacramento economic council (gsec) was honored as edo of the year by the international economic development council (iedc), winning the most prestigious award in the economic development industry. This year, gsec further expanded its international business engagement with a high-level delegation to south korea, advancing its globalizing greater sacramento initiative to strengthen global business recruitment. The organization also launched a new regional brand and repositioned its own branding, website and logo to celebrate its 10th anniversary. In addition to the edo of the year award, gsec received numerous other accolades, including an iedc gold award for the regional brand campaign, placing #3 in regional best places to work for its size category and the chief performance officer named a regional c-suite award honoree. Gsec continues to lead with innovation and impact, solidifying greater sacramento's position as a globally competitive region.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 95% 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 most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 80
  • Accountability: 86
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 41.4%; rating input score 41
  • Program expense ratio: 81.2%; rating input score 81
  • Fundraising efficiency: $44.55 raised per $1 spent on fundraising; rating input score 74; 74th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 22nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 96%; rating input score 96; 25th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 50.5%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 3.08; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 83; 83rd percentile among comparable filings
  • Officer compensation ratio: 32.2%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 9.8% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 5.2% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 41.4% of revenue deployed · 81.2% of spending went to programs
  • Governance: 95 of 95 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.8M in reported program spending
  • Leadership: top reported pay $959K · 101 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 37 of 38 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 5 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.