Richland Co Economic Development Corp

Nonprofit profile at a glance

EIN
391142396
IRS 990 coverage
2011–2012
Forms available
Form 990 2012
Location
Richland Center, WI, USA
Phone
6086474310
Rating confidence
Limited
Sector
Community, Neighborhood Development

Reported finances

Revenue
$150,300
Expenses
$154,942
Assets
$402,597
Liabilities
$14,625

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

12 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To assist local city and county governments in developing and revitalizing areas to promote new business growth. Organization also secures grants from the government and loans them to new area businesses to use as start up costs.

What it reported doing in 2012

Assistance/counseling given to prospective businesses and current business in the area. Administering enterprise zone and revolving loan funds to the community businesses.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 68
  • Sustainability: 41
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th 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; 63rd percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.1%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 2.6; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 62%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -40.3% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 2 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $155K in reported program spending
  • Leadership: top reported pay $52K · 12 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 2 filing years from 2011 to 2012
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.