Ripley County Economic Development Corporation

Nonprofit profile at a glance

EIN
351994940
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Versailles, IN, USA
Phone
8126894344
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$171,083
Expenses
$171,781
Assets
$436,166
Liabilities
$103

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

Leadership & pay

11 people listed

Executive titles in this filing

  • Gary Norman (Executive Director)
  • Jeff Volz (President)
  • Sue Meisberger (V President)

Highest reported compensation

  • Gary Norman (Executive Director): $75,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The RCEDC mission is 1 to seek and provide economic development activities that promote new business development, thus offering diverse employment opportunities for citizens of the county, and 2 to facilicate business expansion and retention programs that will enhance the growth and succes of existing businesses.

What it reported doing in 2025

Economic development activities.

Operating model

Revenue model
Grant-funded. 80% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 93
  • Accountability: 90
  • Sustainability: 42
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -0.4%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 2.54; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 43.7%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 6.5% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 12% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: -5.9% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 8 of 8 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $172K in reported program spending
  • Leadership: top reported pay $75K · 11 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • Moderate — Sustainability: Operating margin scored 34/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.