Siouxland Economic Development Corporation

Nonprofit profile at a glance

EIN
421150060
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Sioux City, IA, USA
Phone
7122796430
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,040,487
Expenses
$557,085
Assets
$5,608,777
Liabilities
$211,267

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

Leadership & pay

24 people listed

Executive titles in this filing

  • JACQUELINE NOHR (EXECUTIVE VICE PRESIDENT)

Highest reported compensation

  • JACQUELINE NOHR (EXECUTIVE VICE PRESIDENT): $125,921 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 further the economic development of the siouxland area through the creation of jobs, by assisting the growth and development of businesses.

What it reported doing in 2024

Making loans to businesses to meet objectives of sedc, which include furthering economic development in the area, promoting growth and development of business concerns and stimulating business opportunity.

Operating model

Revenue model
Earned-program. 66% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 93% 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

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 the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 70
  • Accountability: 100
  • Sustainability: 78
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 31.5%; rating input score 31
  • Program expense ratio: 73.4%; rating input score 73
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 38.9%; rating input score 39; 27th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 46.5%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 10.07; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 22.6%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: -0.6% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 31.5% of revenue deployed · 73.4% of spending went to programs
  • Governance: 23 of 23 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $409K in reported program spending
  • Leadership: top reported pay $126K · 24 people listed
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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 31/100.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 39/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.