Ottumwa Economic Development Corporation

Nonprofit profile at a glance

EIN
420866300
IRS 990 coverage
2010–2019
Forms available
Form 990 2019
Location
Ottumwa, IA, USA
Phone
6416823465
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$57,766
Expenses
$170,118
Assets
$0
Liabilities
$0

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

Leadership & pay

11 people listed

Executive titles in this filing

  • JILL BUDDE (PRESIDENT)

People named in this filing

  • LESLEY CONNING (BOARD MEMBER)
  • RICH GAUMER (COUNCIL)
  • GREG HANSHAW (BOARD MEMBER)

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

To recruit, retain, and expand new and existing industry and business enterprises in ottumwa and wapello county

What it reported doing in 2019

To recruit, retain, and expand new and existing industry and business enterprises in ottumwa and wapello county.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Affiliate network. The nonprofit sent 83% of its reported program spending through affiliated organizations.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 13
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 55.5%; rating input score 55
  • 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: 6 of 7 controls in place; rating input score 86
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -194.5%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -0.4% per year; rating input score 0; 54th percentile among comparable filings
  • Revenue growth: -10.5% per year; rating input score 0; 33rd percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 55.5% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $94K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2010 to 2019
  • 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.

  • Review — Financial Efficiency: Program expense ratio scored 55/100.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.