Phelps County Development Corp

Nonprofit profile at a glance

EIN
470814669
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Holdege, NE, USA
Phone
3089954148
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$1,323,377
Expenses
$818,020
Assets
$5,905,499
Liabilities
$1,062,254

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • JARED ENGELBERT (PRESIDENT)

Highest reported compensation

  • RON TILLERY (EXECUTIVE DI): $153,908 total reported compensation
  • JEFF HOFAKER (EXECUTIVE DI): $30,550 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To encourage business retention and promote economic development while preserving the quality of life in phelps county, Nebraska.

What it reported doing in 2025

Encourage business retention and promote economic development while preserving the quality of life in phelps county, Nebraska.

Operating model

Revenue model
Grant-funded. 93% of the money available for current operations came from government grants.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 61
  • Accountability: 84
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56.8%; rating input score 57
  • Program expense ratio: 79.9%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 38.2%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 7.22; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 22.5%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 7.8% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 7.7% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 8.9% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 56.8% of revenue deployed · 79.9% of spending went to programs
  • Governance: 12 of 12 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $653K in reported program spending
  • Leadership: top reported pay $154K · 14 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: Mission deployment rate scored 57/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.