Kings County Economic Devolpment Corp

Nonprofit profile at a glance

EIN
942450438
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Hanford, CA, USA
Phone
5595853576
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Rural Economic Development

Official website

Reported finances

Revenue
$516,992
Expenses
$469,865
Assets
$7,255,755
Liabilities
$197,633

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

Leadership & pay

24 people listed

Executive titles in this filing

  • Julieta Martinez (CEO)

People named in this filing

  • David Kahn (Chairman)
  • Dusty Ference (Vice Chair)
  • James Preston (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

The corporation promotes economic development within kings county through participation with state and federal programs designed to finance business facilities and community development projects in rural areas.

What it reported doing in 2024

The corporation assists in the relocation of new businesses to the Kings County area. It also assists several businesses with expansions, creating new jobs in the area.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 72
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.8%; rating input score 94
  • Program expense ratio: 87.3%; rating input score 87
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: 9.1%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 15.44; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -1.8% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -7.3% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 93.8% of revenue deployed · 87.3% of spending went to programs
  • Governance: 22 of 22 board members independent · 6 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $410K in reported program spending
  • Leadership: top reported pay $0 · 24 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Review — Sustainability: Operating margin scored 59/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.