South County Economic Development Council

Nonprofit profile at a glance

EIN
330447669
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
National City, CA, USA
Phone
6194245143
Rating
59
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$531,877
Expenses
$561,789
Assets
$777,863
Liabilities
$20,688

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

Leadership & pay

34 people listed

Executive titles in this filing

  • James C O'Callaghan III (CEO President)

Highest reported compensation

  • James C O'Callaghan III (CEO President): $185,076 total reported compensation

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

Overview

Mission

Job Creation in South San Diego County

What it reported doing in 2024

During Fiscal Year 2020-2021 South County Economic Development Council SCEDC accomplished the following Conducted business outreach, assisting over 1,000 businesses surveying 200 businesses. Funded emergency loans for 44 businesses in order to assist with businesses continuity. Executed 38 business loans/grants, on behalf of the City of National City, for businesses in response to COVID-19.

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 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

MIXED - The filed numbers largely add up. A relatively small share of voting board members are independent and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 90
  • Accountability: 42
  • Sustainability: 34
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62%; rating input score 62
  • Program expense ratio: 58.7%; rating input score 59
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 8.8%; rating input score 9; 9th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.6%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 1.38; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 32.9%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: -14.1% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -3.8% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -2.2% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 62% of revenue deployed · 58.7% of spending went to programs
  • Governance: 3 of 34 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $330K in reported program spending
  • Leadership: top reported pay $185K · 34 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Accountability: Independent voting board scored 9/100.
  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 23/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.