Marlborough Economic Development Corporation

Nonprofit profile at a glance

EIN
204407846
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Marlborough, MA, USA
Phone
5082292010
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$1,404,480
Expenses
$1,149,324
Assets
$1,761,528
Liabilities
$116,984

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

Leadership & pay

32 people listed

Executive titles in this filing

  • ANDREA PION (PRESIDENT)
  • DAVID WALTON (VICE PRESIDENT/SECRETARY)

People named in this filing

  • ANDREA PION (PRESIDENT)
  • DAVID WALTON (VICE PRESIDENT/SECRETARY)
  • DANIEL STANHOPE (TREASURER)

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

To enhance the position, image, and perception of marlborough as a desirable place to live, work, visit and invest in by promoting cultural, historical, and economic programs in the city.

What it reported doing in 2024

To enhance the position, image, and perception of marlborough as a desirable place to live, work, visit and invest in by cultural, historical, economic programs in the city.

Operating model

Revenue model
Grant-funded. 100% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 80% for direct work, and 20% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 93
  • Accountability: 82
  • Sustainability: 67
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.2%; rating input score 62
  • Program expense ratio: 76.1%; rating input score 76
  • 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: 100%; rating input score 100; 76th 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 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 18.2%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 1.53; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 6.1% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: 7.6% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 14.2% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 62.2% of revenue deployed · 76.1% of spending went to programs
  • Governance: 32 of 32 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $874K in reported program spending
  • Leadership: top reported pay $0 · 32 people listed
  • Consistency: 34 of 34 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.