Kenai Peninsula Economic Development District Inc

Nonprofit profile at a glance

EIN
920125774
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Kenai, AK, USA
Phone
9072833335
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$726,434
Expenses
$713,660
Assets
$780,258
Liabilities
$44,295

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

Leadership & pay

17 people listed

Executive titles in this filing

  • Rusty Swan (President)
  • LIZ DEMOSS (Vice President)

Highest reported compensation

  • CASSIDI CAMERON (Executive Dir.): $112,831 total reported compensation

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

Overview

Mission

Foster economic growth by developing and implementing a borough-wide economic development program designed to create employment opportunities.

Operating model

Revenue model
Grant-funded. 73% 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

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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 39
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 41
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 44.4%; rating input score 44
  • Program expense ratio: 44.8%; rating input score 45
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.8%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 1.09; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 15.8%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 4.8% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: -6.5% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 44.4% of revenue deployed · 44.8% of spending went to programs
  • Governance: 16 of 16 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $320K in reported program spending
  • Leadership: top reported pay $113K · 17 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 12 filing years from 2013 to 2024
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 44/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 45/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.