Guthrie Center Area Development Corp

Nonprofit profile at a glance

EIN
421275758
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Guthrie Center, IA, USA
Phone
6413322115
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$72,508
Expenses
$35,082
Assets
$293,579
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • DENNIS FLANERY (President)
  • CHRIS CARLSON (Vice President)

People named in this filing

  • BARRY MONAGHAN (Director)
  • DENNIS FLANERY (President)
  • LISA A CALVERT (SECRETARY/TREAS)

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

Economic development

What it reported doing in 2024

Donated to midwest partnership (a 501(c)(3) corporation) to help them with the expenses. They provide economic development services to our community.the corporation owned two commercial buildings. One housed schafer roofing. They provide roofing services for commercial and residential needs. This building was sold on july 15, 2024 to a publishing company. The second building has an art gift shop with consignments from area artists displaying and selling their work. They also have a small coffee and dessert shop. The corporation has a revolving loan fund that is loaned out to the businesses requesting a loan. The loan cannot exceed 50% of the project or $5,000. These loans are no interest loans that must be paid back within three years. There were 15 outstanding loans with businesses in the guthrie center community at 12-31-24.

Operating model

Revenue model
Earned-program. 72% of the money available for current operations came from fees and other program revenue.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 0
  • Sustainability: 74
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.4%; rating input score 97
  • Program expense ratio: 98.4%; rating input score 98
  • 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: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 51.6%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 8.37; rating input score 59; 59th 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: Limited
  • Revenue growth: -0.1% per year; rating input score 0; 59th percentile among comparable filings
  • Asset growth: -0.9% per year; rating input score 0; 35th percentile among comparable filings

Details

  • Where the money goes: 97.4% of revenue deployed · 98.4% of spending went to programs
  • Governance: 0 of 8 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $35K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 2 filed schedules
  • 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: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.