Paducah - Mccracken County Convention Center Corporation

Nonprofit profile at a glance

EIN
610936513
IRS 990 coverage
2013–2016
Forms available
Form 990 2016
Location
Paducah, KY, USA
Phone
2704081346
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$1,114,632
Expenses
$1,418,686
Assets
$6,855,881
Liabilities
$6,504

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

14 people listed

People named in this filing

  • THOMAS PADGETT (DIRECTOR)
  • ROBERT P HOPPMAN (DIRECTOR)
  • BRIAN S KATZ (CHAIRMAN)

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 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Operation and maintenance of a convention center for the benefit of citizens, businesses, and visitors in paducah, Kentucky, mccracken county, Kentucky, and surrounding areas.

What it reported doing in 2016

The organization provides a 110,000 square ft convention center building and meeting rooms which enables hosting of large conventions/meetings in paducah, Kentucky for the purpose of supporting general welfare of local economy and tourism. For example the american quilters society annual quilt show draws in over 30,000 tourist in a single week.

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

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.1%; rating input score 92
  • 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: 1 of 7 controls in place; rating input score 14
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -27.3%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 4.83; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 87; 87th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 84; 84th percentile among comparable filings

Growth

  • Program expense growth: 6.9% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 28.5% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.1% of spending went to programs
  • Governance: 14 of 14 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2013 to 2016
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.