Main Street Altus Inc

Nonprofit profile at a glance

EIN
731433817
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Altus, OK, USA
Phone
5804822277
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$232,739
Expenses
$236,030
Assets
$113,930
Liabilities
$1,006

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

Leadership & pay

15 people listed

Executive titles in this filing

  • PRESTON GUNKEL (PRESIDENT)
  • EMILY WORRELL (VICE PRESIDENT)

Highest reported compensation

  • LYNNA WILMES (PROGRAM DIRECTOR): $45,041 total reported compensation
  • AMANDA REDDING (ASSISTANT PROGRAM DIRECTOR): $13,182 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 promote economic growth and preserving the historic and aesthetic integrity of downtown altus

What it reported doing in 2024

Events and attractions to historic downtown altus including: 12 days of christmas, walkin on chalk, southwest chili cookoff, and other beautification and improvement projects.

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 99% 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 - Most voting board members are independent and revenue has grown recently. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 54
  • Accountability: 90
  • Sustainability: 31
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56%; rating input score 56
  • Program expense ratio: 55%; rating input score 55
  • Fundraising efficiency: $16.82 raised per $1 spent on fundraising; rating input score 53; 53rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 9th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.4%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.48; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 24.7%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.9% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 15.4% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 56% of revenue deployed · 55% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $130K in reported program spending
  • Leadership: top reported pay $45K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • Review — Financial Efficiency: Program expense ratio scored 55/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 53/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.