Montgomery County Development Corporation

Nonprofit profile at a glance

EIN
232334149
IRS 990 coverage
2011–2019
Forms available
Form 990 2019
Location
Norristown, PA, USA
Phone
6102785950
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$118,147
Expenses
$80,505
Assets
$1,322,239
Liabilities
$177,150

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

12 people listed

People named in this filing

  • JERRY GORSKI (CHAIR)
  • JUDY E SMITH (TREASURER)
  • BARRY COHEN (SECRETARY)

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 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Mcdc's mission is to promote the growth of business, industry and civic welfare in montgomery county and to facilitate the exchange of information between and among businesses, industry and the governmental institutions.

What it reported doing in 2019

Mcdc is the certified economic development organization for the county of montgomery. Mcdc administers the montgomery county loan program, pida loans, works with dced and the montgomery county commerce department to support the growth of business with low interest financing. Mcdc supports the growth of business in montgomery county by partnering with the montgomery county commerce department. Mcdc also organizes and hosts educational events for its membership as well as various events to help promote economic development.

Operating model

Revenue model
Donor-supported. 71% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. 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: 61
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 80
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.9%; rating input score 58
  • Program expense ratio: 85%; rating input score 85
  • 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 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 31.9%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 16.42; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: -12.8% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: -15.5% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 57.9% of revenue deployed · 85% of spending went to programs
  • Governance: 12 of 12 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $68K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 9 filing years from 2011 to 2019
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.