Greenwood Leflore-carroll Economic Development Foundation Inc

Nonprofit profile at a glance

EIN
640640864
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Greenwood, MS, USA
Phone
6624535321
Rating
55
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$473,568
Expenses
$458,374
Assets
$1,268,000
Liabilities
$61,001

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

Leadership & pay

3 people listed

Executive titles in this filing

  • THOMAS GREGORY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • THOMAS GREGORY (EXECUTIVE DIRECTOR): $153,375 total reported compensation

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

Overview

Mission

Industrial development concentrated in the areas of the city of greenwood, ms and also leflore and carroll counties of Mississippi

What it reported doing in 2024

Not applicable

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

MIXED - 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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 65
  • Accountability: 10
  • Sustainability: 46
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.5%; rating input score 77
  • Program expense ratio: 77.8%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.2%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 2.77; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 10.7% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: -0.8% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: 76.5% of revenue deployed · 77.8% of spending went to programs
  • Governance: 2 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $357K in reported program spending
  • Leadership: top reported pay $153K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.