Lansdowne Economic Development Corp

Nonprofit profile at a glance

EIN
232976596
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Lansdowne, PA, USA
Phone
6103949044
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public, Societal Benefit

Official website

Reported finances

Revenue
$364,461
Expenses
$366,098
Assets
$323,169
Liabilities
$184,206

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

Leadership & pay

5 people listed

People named in this filing

  • WILLIAM BROWN (BOARD CHAIR)
  • DR RYAN BATKIE (VICE CHAIR)
  • LOIS MARIE COOK (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

To promote economic development within lansdowne borough and the surrounding communities and neighborhoods bordering landowne borough.

What it reported doing in 2024

Promoted economic activity within lansdowne borough through increasing the number and diversity of retail businesses, reducing storefront vacancies, attracting commercial development and by promoting the borough to its residents and visitors from surrounding communities.

Operating model

Revenue model
Grant-funded. 63% 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: 47
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 38
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53%; rating input score 53
  • Program expense ratio: 52.8%; rating input score 53
  • 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.4%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.88; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.57; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -2.2% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: 8.8% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 19% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 53% of revenue deployed · 52.8% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $193K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.