Mcdevco Inc

Nonprofit profile at a glance

EIN
391306894
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Wausau, WI, USA
Phone
7152980084
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$1,045,268
Expenses
$360,270
Assets
$4,227,239
Liabilities
$2,451,431

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

Leadership & pay

22 people listed

Executive titles in this filing

  • SCOTT PAGENKOPF (PRESIDENT)
  • FRED SCHAEFER (PAST PRESIDENT)
  • JEFF VOIGT (1ST VICE PRESIDENT)
  • KIMM WEBER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KIMM WEBER (EXECUTIVE DIRECTOR): $101,129 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 invest in business development and community growth through the integration of resources.

What it reported doing in 2024

Costs to administer economic development loans, including interest expense, legal fees, provision for loan losses, and other administrative fees. Revolving loan fund is an accessible source of financing for projects that will create and retain private sector jobs, increase incomes, expand local tax base, and leverage bank financing.

Operating model

Revenue model
Grant-funded. 76% of the money available for current operations came from government grants.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 36
  • Transparency & Controls: 94
  • Accountability: 84
  • Sustainability: 75
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 26.5%; rating input score 27
  • Program expense ratio: 63.4%; rating input score 63
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 65.5%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 11.73; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.58; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 28.1%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 5.1% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: -3.5% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 26.5% of revenue deployed · 63.4% of spending went to programs
  • Governance: 21 of 21 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $229K in reported program spending
  • Leadership: top reported pay $101K · 22 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 27/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.