Regional Economic Growth Initiative Inc

Nonprofit profile at a glance

EIN
471466476
IRS 990-EZ coverage
2014–2018
Forms available
Form 990 2016, Form 990-EZ 2018
Location
Wisconsin Rapids, WI, USA
Phone
7158874565
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$88,566
Expenses
$86,207
Assets
$3,459
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • RICHARD S BAKOVKA (PRESIDENT)

People named in this filing

  • JOHN BERGIN (CHAIRMAN OF THE BOARD)
  • JASON GRUENEBERG (VICE CHAIRMAN OF THE BOARD)
  • GEOFF BERTIN (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-EZ. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To expand economic development in wood county Wisconsin and contiguous counties.

What it reported doing in 2018

To provide assistance to businesses, investors andsite selctors in collaboration with municipalitites and other regional partners.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 94
  • Transparency & Controls: 100
  • Sustainability: 34
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.5%; rating input score 93
  • Program expense ratio: 96%; rating input score 96

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 2.7%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 69%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -6.8% per year; rating input score 0; 33rd percentile among comparable filings
  • Revenue growth: -12.5% per year; rating input score 0; 22nd percentile among comparable filings
  • Asset growth: -54.3% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 93.5% of revenue deployed · 96% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $83K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2014 to 2018
  • Contacts: How to reach this organization
  • Money network: 3 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • Review — Sustainability: Operating margin scored 51/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.