Southern Economic Development Council

Nonprofit profile at a glance

EIN
586075177
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Fayetteville, GA, USA
Phone
4045233030
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,356,802
Expenses
$1,366,025
Assets
$721,810
Liabilities
$374,684

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

Leadership & pay

9 people listed

Executive titles in this filing

  • MATTHEW TACKETT (PRESIDENT)

Highest reported compensation

  • MATTHEW TACKETT (PRESIDENT): $159,983 total reported compensation

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

Overview

Mission

Pursue high personal and professional standards to enhance the image of the economic development process. 2) provide professional service and educational opportunities to develop and improve member skills. 3) improve quality of life of citizens of region through implementation, creation & retention of quality employment opportunities.

What it reported doing in 2024

Registrants attended various economic development conferences and member oriented events & seminars

Operating model

Revenue model
Earned-program. 78% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 65
  • Accountability: 69
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.9%; rating input score 66
  • Program expense ratio: 66.3%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -0.7%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.53; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 11.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 15% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 12.2% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 8.8% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 65.9% of revenue deployed · 66.3% of spending went to programs
  • Governance: 22 of 22 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $906K in reported program spending
  • Leadership: top reported pay $160K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.