Hillsboro Economic Development Corp

Nonprofit profile at a glance

EIN
450280838
IRS 990 coverage
2012–2025
Forms available
Form 990 2025
Location
Hillsboro, ND, USA
Phone
7014301213
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Service Clubs

Reported finances

Revenue
$348,673
Expenses
$153,216
Assets
$1,284,259
Liabilities
$1,408

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

Leadership & pay

11 people listed

Executive titles in this filing

  • TERRY SANDO (PRESIDENT)
  • DUSTIN NAGEL (VICE PRESIDENT)

Highest reported compensation

  • SHEILA GERAY (BUSINESS MANAGER): $6,298 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 lessen the governments burden of undertaking economic development to sustain hillsboro, nd as a community by encouraging the development of industry and business in

What it reported doing in 2025

Community economic development and promotion of hillsboro, nd with the purpose of easing government expenses in this area.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 73% of its reported program spending out as grants.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 89
  • Accountability: 74
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 46%; rating input score 46
  • Program expense ratio: 98.5%; rating input score 99
  • 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: 85.1%; rating input score 85; 52nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 56.1%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 8.38; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 4.1%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 9.4% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 18.5% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 13.5% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: 46% of revenue deployed · 98.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $151K in reported program spending
  • Leadership: top reported pay $6K · 11 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 14 filing years from 2012 to 2025
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.