Otsego County Development Corporation

Nonprofit profile at a glance

EIN
166051473
IRS 990 coverage
2012–2020
Forms available
Form 990 2020
Location
Oneonta, NY, USA
Phone
6074320400
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$138,795
Expenses
$129,796
Assets
$754,049
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • JAMES M JORDAN (President)
  • LEN MARSH (Vice President)

People named in this filing

  • JOSEPH POTRIKUS (Director)
  • CAROLYN LEWIS (Director)
  • JAMIE REYNOLDS (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

Economic development for the county of otsego, New York

What it reported doing in 2020

Assisting companies with venture capital financing, agricultural economic development, provider of rural revolving loan fund.

Operating model

Revenue model
Grant-funded. 90% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 93% of its reported program spending out as grants.

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 64
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.8%; rating input score 92
  • Program expense ratio: 97.2%; rating input score 97
  • 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: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.5%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 5.81; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: -50.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -39.9% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -30.3% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 91.8% of revenue deployed · 97.2% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $126K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.