Linn Economic Development Group

Nonprofit profile at a glance

EIN
930814440
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2016
Location
Albany, OR, USA
Phone
5419794109
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$129,294
Expenses
$125,109
Assets
$28,385
Liabilities
$2,674

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

Leadership & pay

23 people listed

Executive titles in this filing

  • JOHN PASCONE (PRESIDENT)

Highest reported compensation

  • JOHN PASCONE (PRESIDENT): $99,800 total reported compensation

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

Overview

Mission

To foster a healthy and viable economy in the albany, millersburg and linn county area.

What it reported doing in 2024

To foster a healthy and viable economy in the albany, millersburg and linn county area. Objectives include:- assist in the development, retention, and expansion of linn county area businesses;- improve the opportunity for business success;- enhance the economic base by siting new targeted industries- support and assist in regional and state programs which will benefit the mid valley communities; and - establish a viable partnership for managed economic growth

Operating model

Revenue model
Grant-funded. 93% 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

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.8%; rating input score 97
  • Program expense ratio: 100%; rating input score 100
  • 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: 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 3.2%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.23; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 79.8%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 14.1% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 17.1% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 15.4% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 96.8% of revenue deployed · 100% of spending went to programs
  • Governance: 19 of 19 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $125K in reported program spending
  • Leadership: top reported pay $100K · 23 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 8 filing years from 2017 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: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.