Marble Falls Economic Development Corporation

Nonprofit profile at a glance

EIN
742637990
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Marble Falls, TX, USA
Phone
8307987075
Rating confidence
Limited

Reported finances

Revenue
$4,254,145
Expenses
$2,509,052
Assets
$38,127,133
Liabilities
$13,499,518

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

Leadership & pay

11 people listed

Executive titles in this filing

  • STEVE REITZ (PRESIDENT)
  • MARK MAYFIELD (VICE PRESIDENT)
  • CHRISTIAN FLETCHER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • CHRISTIAN FLETCHER (EXECUTIVE DIRECTOR): $217,761 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 attract and support business and economic development in the marble falls area through strategic planning, workforce training, and marketing.

What it reported doing in 2024

Business improvement grant (big) program - to provide assistance to local businesses in improving their properties. The purpose of this program is to promote the expansion and development of new and existing business enterprises within the city of marble falls, Texas, and to improve the appearance and visual character of the community. The edc will provide 10% in matching funds, via reimbursement, to businesses who are seeking to improve or expand their commercial properties. The maximum grant is $10,000 per applicant, and the minimum expenditure to be considered for the program is $5,000. The application period for this grant will remain open until funding has been exhausted; or until the edc determines that its program goals have been satisfied.

Operating model

Revenue model
Earned-program. 83% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 66
  • Accountability: 79
  • Sustainability: 77
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 3rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 73.3%; rating input score 73; 19th percentile among comparable filings
  • Major donor itemization: Limited
  • 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: Fail
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 41%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 15.2; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.35; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 8.7%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7.8% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 12.4% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $218K · 11 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants and executive pay
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 8 filed related-organization links
  • 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: 4 of 8 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.