Lake Martin Economic Dev Alliance Inc

Nonprofit profile at a glance

EIN
631203580
IRS 990 coverage
2009–2023
Forms available
Form 990 2023
Location
Alexander City, AL, USA
Phone
2562154411
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$312,889
Expenses
$213,647
Assets
$181,193
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

24 people listed

People named in this filing

  • WOODY BAIRD (EXECUTIVE COMMITTEE)
  • PHIL BLASINGAME (DIRECTOR)
  • TC COLEY (CHAIRMAN)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission is two fold, to attract new business to the area and retention of existing business and industry.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 83
  • Accountability: 64
  • Sustainability: 68
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.1%; rating input score 65
  • Program expense ratio: 95.3%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 87.5%; rating input score 88; 3rd 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: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 31.7%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -0.1% per year; rating input score 0; 32nd percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 34th percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 65.1% of revenue deployed · 95.3% of spending went to programs
  • Governance: 24 of 24 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 24 people listed
  • Consistency: 15 of 17 current checks pass · 2 findings to review
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 14 filing years from 2009 to 2023
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesAccounting column sum did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.