Littleton Industrial Development Co

Nonprofit profile at a glance

EIN
237454592
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Littleton, NH, USA
Phone
6034446838
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$37,288
Expenses
$54,957
Assets
$1,029,236
Liabilities
$0

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

Leadership & pay

11 people listed

Executive titles in this filing

  • CHAD STEARNS (PRESIDENT)

People named in this filing

  • JEFF COREY (DIRECTOR)
  • MARY DOHERTY (DIRECTOR)
  • GREG EASTMAN (DIRECTOR)

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

Industrial and economic development

What it reported doing in 2024

The littleton industrial development corporation is a voluntary not-for-profit corporation incorporated under the laws of the state of New Hampshire (rsa 292) and organized exclusively for tax-exempt civic betterment and social improvements within the meaning of section 501(c)(4) of the internal revenue code of 1954, as amended. The organization is organized to promote economic development and employment opportunities in the greater littleton, New Hampshire, area. In the event of dissolution, all business property and assets of the corporation shall be distributed to a charitable organization duly qualified under the internal revenue code or a not-for-profit organization qualified under section 501 of the internal revenue code. Management of the corporation is entrusted to a board of directors comprised of elected directors that each have one vote.

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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 52
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.3%; rating input score 89
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • 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: -47.4%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 18.73; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 34.9% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: -24.1% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.3% of spending went to programs
  • Governance: 14 of 14 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $49K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2019 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 — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.