Nevada State Development Corporation

Nonprofit profile at a glance

EIN
300402070
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Las Vegas, NV, USA
Phone
7024736203
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Business and Industry

Official website

Reported finances

Revenue
$2,698,730
Expenses
$2,404,541
Assets
$3,680,475
Liabilities
$203,935

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

Leadership & pay

15 people listed

Executive titles in this filing

  • Evan Dickson (President)
  • Christie Wright (Vice President of Finance)

Highest reported compensation

  • Evan Dickson (President): $258,600 total reported compensation
  • Paola Gonzalez (EVP/COO): $216,122 total reported compensation
  • Karen Szachara (Corporate Secretary): $147,087 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 provide financing and management services to small businesses in Nevada to foster economic development, create jobs, and stimulate small business growth.

What it reported doing in 2024

The Organization helps small business owners in Nevada, California, and Arizona obtain financing for expansion through the United States Small Business Administration 504 Loan Program. In FY 2025 NSDC approved 53 loans for $54,271,000 which is estimated to create in excess of 603 jobs over the next 2 years.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 98% 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 - 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 73
  • Accountability: 86
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.6%; rating input score 73
  • Program expense ratio: 83.4%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 95.7%; rating input score 96; 30th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.7%; rating input score 92; 22nd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10.9%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 1.53; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 30.3%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 2.8% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 72.6% of revenue deployed · 83.4% of spending went to programs
  • Governance: 11 of 12 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2M in reported program spending
  • Leadership: top reported pay $259K · 15 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 32 of 33 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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: 2 of 9 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.