Harrison County Economic Development Cor

Nonprofit profile at a glance

EIN
201076473
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Corydon, IN, USA
Phone
8127388241
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public, Societal Benefit

Reported finances

Revenue
$387,298
Expenses
$156,124
Assets
$9,491,478
Liabilities
$6,020,343

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • DAVID LETT (PRESIDENT)
  • DAVID SANDERS (VICE PRESIDENT)
  • DARRELL VOELKER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DARRELL VOELKER (EXECUTIVE DIRECTOR): $48,034 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote harrison county for business development and workforce education. Projects are conducted to bring new jobs and investment to our community and to raise the skill levels of our workforce with education and training programs.

What it reported doing in 2025

Promotion. Promotional projects and programs are conducted for the purpose of attracting new businesses to locate in our community. We are partners with a regional marketing group that promotes our region internationally and all around the united states. The promotional efforts are to try to recruit new businesses to harrison county. Additional business promotion is conducted within our community by keeping connections with our existing businesses and providing assistance to them so they can grow in our community.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
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 most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 36
  • Transparency & Controls: 82
  • Accountability: 90
  • Sustainability: 75
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 26.2%; rating input score 26
  • Program expense ratio: 65%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 15th 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; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 59.7%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 60.79; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.63; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 30.8%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: -10% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 26.2% of revenue deployed · 65% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $101K in reported program spending
  • Leadership: top reported pay $48K · 8 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 26/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.