Logan County Economic Development Council

Nonprofit profile at a glance

EIN
731217222
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Guthrie, OK, USA
Phone
4052820060
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public, Societal Benefit

Official website

Reported finances

Revenue
$328,100
Expenses
$202,469
Assets
$2,189,281
Liabilities
$690,767

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

Leadership & pay

10 people listed

Executive titles in this filing

  • CHAD JOHNSON (President)
  • JED WAGGONER (Vice President)

People named in this filing

  • DOUG MAJOR (Director)
  • JOHN THOMASON (Treasurer)
  • CHAD JOHNSON (President)

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

The primary exempt purpose of this organization is to provide a stimulus for economic growth in Logan County, Oklahoma through various programs including low interest loans, recruiting new businesses to the county, providing growth expansion assistance and promoting individual leasdership in county activities.

What it reported doing in 2024

Council encourages business to locate in logan county. Also encourages existing business to expand. Offers loan progaram to accomplish.

Operating model

Revenue model
Grant-funded. 65% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 90
  • Accountability: 18
  • Sustainability: 77
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.3%; rating input score 62
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • 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: Pass

Sustainability

  • Operating margin: 38.3%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 10.81; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.32; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 13% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 62.3% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 10 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2011 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: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.