Mooresville-south Iredell Economic Development Corporation
Nonprofit profile at a glance
- EIN
- 510599747
- IRS 990 coverage
- 2012–2018
- Forms available
- Form 990 2018, Form 990-EZ 2016
- Location
- Mooresville, NC, USA
- Phone
- 7046631898
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Public, Societal Benefit
Reported finances
- Revenue
- $447,333
- Expenses
- $326,071
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.
Leadership & pay
18 people listed
People named in this filing
- JAMES MALLORY (CHAIRMAN)
- BETH JONES (DIRECTOR)
- COSTI KUTTEH (DIRECTOR)
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 2018. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The organization was organized to further the economic development of the mooresville-south iredell region and to promote employment opportunities.
What it reported doing in 2018
The organization was organized to promote economic development and business retention for mooresville and the southern portion of iredell county.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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 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: 61
- Transparency & Controls: 92
- Accountability: 76
- Sustainability: 48
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 60.3%; rating input score 60
- Program expense ratio: 82.7%; rating input score 83
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 27.1%; rating input score 84; 84th percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 71; 71st percentile among comparable filings
Growth
- Program expense growth: 1.2% per year; rating input score 100; 43rd percentile among comparable filings
- Revenue growth: 13.4% per year; rating input score 100; 82nd percentile among comparable filings
- Asset growth: 16.7% per year; rating input score 100; 81st percentile among comparable filings
Details
- Where the money goes: 60.3% of revenue deployed · 82.7% of spending went to programs
- Governance: 19 of 19 board members independent · 3 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $270K in reported program spending
- Leadership: top reported pay $0 · 18 people listed
- Consistency: 24 of 24 current checks pass
- Schedules: 6 filed schedules · includes major donors
- Filing history: 7 filing years from 2012 to 2018
- Contacts: How to reach this organization
- Related organizations: 1 filed related-organization link
- 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: 3 of 6 not reported.
- High — Sustainability: Total-asset coverage ratio scored 1/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.