Mcminn County Economic Development Authority

Nonprofit profile at a glance

EIN
621240145
IRS 990 coverage
2010–2021
Forms available
Form 990 2021
Location
Athens, TN, USA
Phone
4237451506
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$267,507
Expenses
$222,898
Assets
$4,039,993
Liabilities
$101,374

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

23 people listed

Executive titles in this filing

  • ERIN HOLBROOK (PRESIDENT)

Highest reported compensation

  • LINDSEY FERGUSON (EXECUTIVE DI): $86,200 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The primary objective of the authority is the promotion of industrial development and expansion in mcminn county, Tennessee

What it reported doing in 2021

See additional data

Operating model

Revenue model
Grant-funded. 91% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% 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. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.7%; rating input score 76
  • Program expense ratio: 90.9%; rating input score 91
  • 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: 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.7%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 18.12; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 38.7%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 0.1% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 75.7% of revenue deployed · 90.9% of spending went to programs
  • Governance: 22 of 22 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $86K · 23 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 8 filing years from 2010 to 2021
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.