Ravenna Economic Development Corp

Nonprofit profile at a glance

EIN
465433447
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Ravenna, NE, USA
Phone
3084523133
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$412,189
Expenses
$585,805
Assets
$486,871
Liabilities
$588

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

Leadership & pay

10 people listed

Executive titles in this filing

  • RODNEY POKORSKI (PRESIDENT)

Highest reported compensation

  • ZACHARY WEST (EXECUTIVE DI): $50,400 total reported compensation

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

Overview

Mission

Ravenna's economic development program is a reflection of the community's forward-thinking, progressive and passionate citizens and business community. The aim of ravenna's economic development program is job retention, business expansion, business recruitment, job training and the creation of opportunities for local businesses to reach a global marketplace. The success of this program will help to ensure that the quality of life for ravenna residents is maintained and enhanced, allowing future generations to enjoy the same community qualities that current residents cherish.

What it reported doing in 2024

Assist in attracting working families to our rural community by increasing the supply and reducing the cost of workforce housing.

Operating model

Revenue model
Donor-supported. 77% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 94
  • Accountability: 63
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.2%; rating input score 86
  • 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 24th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -42.1%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 0.83; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 8.6%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 123.7% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 21.8% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 23.2% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.2% of spending went to programs
  • Governance: 7 of 8 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $505K in reported program spending
  • Leadership: top reported pay $50K · 10 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.