Prairie Development Corporation

Nonprofit profile at a glance

EIN
841043508
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Stratton, CO, USA
Phone
7193485596
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$231,405
Expenses
$198,485
Assets
$3,861,067
Liabilities
$2,644

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

Leadership & pay

8 people listed

People named in this filing

  • CANDACE PAYNE (ADMINISTRATO)
  • ED RARICK (CHAIRMAN)
  • ROBERT SAFRANEK (TREASURER)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Loans for low-income housing to individuals and businesses. Low-income loans and loan guarantees for housing rehab, business start-up and related support services.

What it reported doing in 2025

Economic development programs - guaranteed and direct loans up to 150,000 to businesses; prairie development corporation may loan 35,000 per each fte position of which 51% must be offered or filled by low-moderate income qualified people. Prairie development corporation is not a primary lender and many loans are made in partnership with banks and/or other financial institutions in the local area. In addition, prairie development corporation is involved with the marketing of tourism for the region to bring dollars to the communities and to help support job stability. During 2025, one new business loan was closed for 60,000 which created three fte positions.

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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.9%; rating input score 79
  • Program expense ratio: 78.9%; rating input score 79
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 14.2%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 19.45; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 13% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 9.4% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 78.9% of revenue deployed · 78.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $157K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 16 filing years from 2010 to 2025
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.