Seneca Industrial & Economic Development Corp

Nonprofit profile at a glance

EIN
341414993
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Tiffin, OH, USA
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,020,378
Expenses
$520,822
Assets
$1,861,576
Liabilities
$259,891

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

Leadership & pay

37 people listed

Executive titles in this filing

  • AARON MONTZ (CEO/PRESIDENT)

Highest reported compensation

  • AARON MONTZ (CEO/PRESIDENT): $131,569 total reported compensation

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

Overview

Mission

To improve the economic well-being and quality of life for tiffin and seneca county, Ohio, by leading, promoting, and facilitating positive economic, community and downtown development.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 98% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 82
  • Accountability: 79
  • Sustainability: 72
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 43.2%; rating input score 43
  • Program expense ratio: 82.4%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 69.6%; rating input score 70; 32nd percentile among comparable filings
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 49%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 3.57; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 25.3%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: -7.1% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 43.2% of revenue deployed · 82.4% of spending went to programs
  • Governance: 29 of 29 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $429K in reported program spending
  • Leadership: top reported pay $132K · 37 people listed
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 43/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.