Sac Economic & Tourism Development Ltd

Nonprofit profile at a glance

EIN
421300712
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Wall Lake, IA, USA
Phone
7126642940
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$199,524
Expenses
$207,720
Assets
$1,885,333
Liabilities
$1,765,300

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

Leadership & pay

11 people listed

Executive titles in this filing

  • BRANDY WILSON (EXECUTIVE DIRECTOR)
  • CHRIS MASON (PRESIDENT)
  • LARRY COON (VICE PRESIDENT)

Highest reported compensation

  • BRANDY WILSON (EXECUTIVE DIRECTOR): $64,770 total reported compensation

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

Overview

Mission

Mission is to provide technical & planning assistance to 9 communities & various agencies & organizations in sac county, Iowa; promote new & existing businesses; promote tourism attractions & events

What it reported doing in 2024

The mission & activities are so diversified and not program specific as 9 communities in county with different needs. Expenses primarily focus on sponsorship, executive director services, marketing , etc. Specific expenses services included: advertising & marketing 6,095 website 4,025 sponsorship/promotions 939 wages allocated to development projects, grants, etc 46,250 land development & acquisition carrying costs 28,879

Operating model

Revenue model
Grant-funded. 81% of the money available for current operations came from government grants.
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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 42
  • Growth: 100

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: 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -4.1%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 9.08; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 31.2%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 39.1% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 6.4% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 31.8% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $208K in reported program spending
  • Leadership: top reported pay $65K · 11 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.