Partnership for Economic Growth of Humboldt County

Nonprofit profile at a glance

EIN
421356939
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Humboldt, IA, USA
Phone
5153322557
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$224,870
Expenses
$261,163
Assets
$1,959,481
Liabilities
$900,084

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

Leadership & pay

14 people listed

Executive titles in this filing

  • Doug Berte (Vice President)
  • Jennifer Hansen (President)

Highest reported compensation

  • Alissa O'Connor (Executive Dir.): $91,689 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Develop Business and Industry in the Humboldt County Area.

What it reported doing in 2024

Develope and promote business and industry in the Humboldt County area.

Operating model

Revenue model
Grant-funded. 67% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 66% for direct work, and 34% for 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: 72
  • Transparency & Controls: 90
  • Accountability: 79
  • Sustainability: 36
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.8%; rating input score 86
  • Program expense ratio: 73.9%; rating input score 74
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -16.1%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 7.5; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.46; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 35.1%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: -2.1% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 85.8% of revenue deployed · 73.9% of spending went to programs
  • Governance: 13 of 13 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $193K in reported program spending
  • Leadership: top reported pay $92K · 14 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 17/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.