Hic Industrial Center

Nonprofit profile at a glance

EIN
202078858
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Huntington, WV, USA
Phone
3045251161
Rating
44
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$145,534
Expenses
$0
Assets
$1,912,876
Liabilities
$436,853

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

Leadership & pay

38 people listed

Executive titles in this filing

  • DAVID H LIEVING (PRESIDENT)

Highest reported compensation

  • DAVID H LIEVING (PRESIDENT): $128,000 total reported compensation

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

Overview

Mission

Economic development in the metro region of huntington, West Virginia

What it reported doing in 2024

To promote and assist in the economic development in the city of huntington and cabell and wayne counties of West Virginia.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - 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: 0
  • Transparency & Controls: 90
  • Accountability: 69
  • Sustainability: 2
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • 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: 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0.23; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 5% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 38 of 38 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $128K · 38 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 0/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.