Lemhi County Economic Development Association Inc

Nonprofit profile at a glance

EIN
810641530
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-EZ 2012
Location
Salmon, ID, USA
Phone
2087561505
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Rural Economic Development

Reported finances

Revenue
$595,996
Expenses
$549,948
Assets
$516,530
Liabilities
$20,689

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

Leadership & pay

7 people listed

Highest reported compensation

  • TAMMY L STRINGHAM (EXEC DIRECTOR): $48,134 total reported compensation

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

Overview

Mission

Economic development to foster new, plus retain and expand existing, businesses thus enhancing well-being and quality of life for area residents including research, guidance and programs for economic growth.

What it reported doing in 2024

Community development - infrastructure improvement including transportation, broadband, and tourism. Area non-profit facilitation and coordination.

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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 100
  • Accountability: 79
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.3%; rating input score 92
  • Program expense ratio: 100%; rating input score 100
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: 7.7%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.94; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 8.8%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 5.7% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 10% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 92.3% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 6 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $550K in reported program spending
  • Leadership: top reported pay $48K · 7 people listed
  • Consistency: 24 of 24 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
  • Money network: 2 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Review — Sustainability: Operating margin scored 57/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.