Hancock Cty Economic Dev Corp
Nonprofit profile at a glance
- EIN
- 202714626
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024, Form 990-EZ 2018
- Location
- Garner, IA, USA
- Phone
- 6419239921
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Community, Neighborhood Development
Reported finances
- Revenue
- $149,866
- Expenses
- $172,856
- Assets
- $87,694
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- JERRY TLACH (PRESIDENT)
People named in this filing
- JILL KRAMER (EXECUTIVE DI)
- CHAD REECE (VICE PRESIDE)
- LAURA SWIEFEL (SECRETARY)
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 foster and encourage economic development for hancock county by providing organizational and developmental services to businesses and potential new businesses in the county.
What it reported doing in 2024
Hancock county economic development corporation is comprised of one executive director, fifteen board members, and four advisory board members. In 2017, hcedc focused on the following goal areas to foster and encourage economic development across the county and achieved the following results: business retention - annual on-site visits(40), housing needs analysis, employee retention analysis, and seminars(10) on current/new resources available to local businesses new business attraction - assisted & provided resources to four start ups hancock county revolving loan fund - instrumental in the acquisition of a loan award for one new small business workforce development - promotion of www.gotjobs.work and home base Iowa, sponsorship of high school career fairs(4), sponsorship of a 2nd annual internship program(21 participants) featuring 9 value added trainings and networking opportunities, booths at various events showcasing available jobs within the county, workforce retention training sessions , and partnered with iowaworks for 5 sessions regional partnership communication - worked with resource partners(7), local chambers of commerce, schools, foundations, pdi, and government officials community investment in hcedc - raising monies from grants, private and/or business donors, communities, and government entities to fund the work of hcedc
Operating model
- Revenue model
- Grant-funded. 74% of the money available for current operations came from government grants.
- 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
STRONG - 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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 90
- Accountability: 64
- Sustainability: 33
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 90.5%; rating input score 90
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
- Governance controls: 1 of 7 controls in place; rating input score 14
- 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: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -15.3%; rating input score 17; 17th percentile among comparable filings
- Total-asset coverage ratio: 0.51; rating input score 25; 25th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: 5.4% per year; rating input score 100; 55th percentile among comparable filings
- Revenue growth: 7.3% per year; rating input score 100; 63rd percentile among comparable filings
- Asset growth: 4.3% per year; rating input score 100; 44th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 90.5% of spending went to programs
- Governance: 15 of 15 board members independent · 1 of 7 filing controls reported
- Programs: 2 filed program accomplishments
- Leadership: top reported pay $0 · 5 people listed
- Consistency: 17 of 17 current checks pass
- Schedules: 2 filed schedules
- Filing history: 6 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- 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: 5 of 6 not reported.
- High — Sustainability: Operating margin scored 17/100.
- High — Sustainability: Total-asset coverage ratio scored 25/100.