Sierra Economic Development Corporation C/o Sierra Business Council

Nonprofit profile at a glance

EIN
941705043
IRS 990 coverage
2009–2016
Forms available
Form 990 2016
Location
Truckee, CA, USA
Phone
5305824800
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Rural Economic Development

Official website

Reported finances

Revenue
$106,319
Expenses
$545,192
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • RANDY WAGNER (CEO)

Highest reported compensation

  • RANDY WAGNER (CEO): $8,440 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To alleviate unemployment and underemployment by expanding industrial resource and small business development while preserving the quality of life in the sierra Nevada foothills.

What it reported doing in 2016

Revolving loan funds serves as an intermediary lender for the sba micro enterprise loan program, the usda intermediary relending program and lending programs funded by private banks the organization has borrowed funds from the sba for lending to micro-enterrise businesses throughout a nine county territory that includes el dorado, placer, Nevada, sierra, plumas, lassen, modoc, yolo and sacramento counties the usda and bank funds are loaned to eligible rural businesses that are unable to obtain regular commerical credit. - ceased program in current year.

Operating model

Revenue model
Earned-program. 61% of the money available for current operations came from fees and other program revenue.
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. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 5
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.5%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: -412.8%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 1.5%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 30.3% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: -13.8% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -7.7% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.5% of spending went to programs
  • Governance: 12 of 12 board members independent · 5 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $504K in reported program spending
  • Leadership: top reported pay $8K · 14 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 6 filing years from 2009 to 2016
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

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 — Sustainability: Operating margin scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.
  • High — Grant Readiness: California registration: this organization is recorded as not currently operating in California.