Pine Economic Development Corp

Nonprofit profile at a glance

EIN
411647159
IRS 990 coverage
2015–2016
Forms available
Form 990 2016, Form 990-EZ 2014
Location
Finlayson, MN, USA
Phone
3202336351
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$14
Expenses
$2,679
Assets
$0
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • SAM GRIFFITH (Vice President)
  • BRUCE POGATCHNIK (President)

People named in this filing

  • SAM GRIFFITH (Vice President)
  • JIM AUSMUS (Secretary)
  • BRUCE POGATCHNIK (President)

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

Community & economic development

What it reported doing in 2016

Pedc provides ongoing small business counselling to local developing businesses to help maximize their potential for ultimate success in industry.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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 a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 100
  • Accountability: 58
  • Sustainability: 8
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 20.5%; rating input score 21
  • 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; 64th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -19,035.7%; rating input score 1; 1st 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 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 95.7% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: -72.5% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -19.6% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 20.5% of spending went to programs
  • Governance: 6 of 6 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $550 in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2015 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.

  • High — Financial Efficiency: Program expense ratio scored 21/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.