Osakis Economic Development Corporation

Nonprofit profile at a glance

EIN
411474752
IRS 990 coverage
2012–2020
Forms available
Form 990 2020
Location
Osakis, MN, USA
Phone
3208593777
Rating confidence
Limited

Reported finances

Revenue
$-18,332
Expenses
$1,421
Assets
$22,670
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • BECKY HENSLEY (PRESIDENT)
  • RODGER LARSON (VICE PRESIDENT)

People named in this filing

  • BECKY HENSLEY (PRESIDENT)
  • RODGER LARSON (VICE PRESIDENT)
  • NICHOL NESSMAN (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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization conducts activities to promote community economic development.

What it reported doing in 2020

The osakis economic development corporation advanced, promoted, encouraged, and stimulated the economic and industrial growth of osakis and the surrounding area. It also encouraged the establishment or expansion of businesses and industries. It also supported the visitor/heritage center. The organization has approximately 72 members.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Cannot be determined from the filing. The program-spending lines do not add up, so the filing cannot show reliably whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 47
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -107.8%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 15.95; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -15.1% per year; rating input score 0; 30th percentile among comparable filings
  • Revenue growth: -46.8% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -7% per year; rating input score 0; 18th percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $1K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 9 filing years from 2012 to 2020
  • Contacts: How to reach this organization
  • 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 20/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.