Market Vanburen

Nonprofit profile at a glance

EIN
843582323
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Benton Harbor, MI, USA
Phone
2699271064
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$919,068
Expenses
$891,162
Assets
$521,364
Liabilities
$178,429

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

Leadership & pay

21 people listed

Executive titles in this filing

  • ZACHARY MORRIS (MVB-EXECUTIVE DIRECTOR)

Highest reported compensation

  • ZACHARY MORRIS (MVB-EXECUTIVE DIRECTOR): $200,595 total reported compensation
  • JOSH COSNER (CIO-KINEXUS GROUP): $180,043 total reported compensation

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

Overview

Mission

Connect people, investments, and organizations with strategies and services that improve the quality of life and economic conditions in our region, specifically van buren county.

What it reported doing in 2024

Market van buren is working to create a sustainable and resilient economy in van buren county and cass county. The staff work with business and community leaders, along with elected officials, to find solutions to problems facing the municipalities or businesses. Market van buren helped to create or retain 671 jobs in the 24-25 fiscal year. The organization works to grow talented people, strong businesses, and vibrant communities.

Operating model

Revenue model
Grant-funded. 74% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 97% 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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 79
  • Accountability: 97
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95%; rating input score 95
  • Program expense ratio: 98%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 94.7%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 0.59; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 13.2%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 32.3% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 24.8% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 32.3% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 95% of revenue deployed · 98% of spending went to programs
  • Governance: 18 of 19 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $873K in reported program spending
  • Leadership: top reported pay $201K · 21 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

  • Moderate — Sustainability: Operating margin scored 45/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.