Palestine Economic Development Corporation

Nonprofit profile at a glance

EIN
311815055
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Kansas City, MO, USA
Phone
8169216009
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Pollution Abatement and Control Services

Reported finances

Revenue
$110,309
Expenses
$120,192
Assets
$1,957,303
Liabilities
$201,717

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

Leadership & pay

12 people listed

People named in this filing

  • MELVIN GROSS (CHAIRMAN)
  • DAMON HODGES (SECRETARY/TREASURER)
  • JAMES WATKINS SR (DIRECTOR)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Orgaization was created to adress senior housing, youth development. and community development needs in the Greater Kansas City, Missouri metropolitan area.

What it reported doing in 2024

Our purpose is to encourage and promote the economic, entrepreneurial, commercial, and civic development or redevelopment of a community or area, including construction-rehabilitation of housing that benefits the low-income residents of the communities we serve. Within this purpose, we have begun the development of a new senior citizen assisted livng facility in Kansas City, Missouir urban core.

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

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 74
  • Accountability: 64
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.6%; rating input score 99
  • Program expense ratio: 90.3%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 76.9%; rating input score 77; 0th 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: 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: -9%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 16.28; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 41.7% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 30.1% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 98.6% of revenue deployed · 90.3% of spending went to programs
  • Governance: 12 of 12 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $108K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 13 filing years from 2011 to 2024
  • 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Operating margin scored 24/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.