Southern Iowa Economic Development Association

Nonprofit profile at a glance

EIN
420923813
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Ottumwa, IA, USA
Phone
6416828741
Rating
88
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$12,325,334
Expenses
$12,357,787
Assets
$5,439,572
Liabilities
$1,174,861

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

Leadership & pay

18 people listed

Executive titles in this filing

  • BRIAN DUNN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • BRIAN DUNN (EXECUTIVE DIRECTOR): $122,499 total reported compensation
  • TINA JAEGERS (FISCAL OFFICER): $101,157 total reported compensation
  • TAMMY HOTEK (DEPUTY DIRECTOR (THRU JAN 2025)): $95,427 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 address the causes and conditions of poverty through community engagement, economic support, education and cognitive development, family support, health and welfare, housing stabilization, any other activities which secure opportunities for and benefit people with low-income and and insufficient resources.

What it reported doing in 2024

Child education: the organization's head start program is a preschool experience for low-income and disabled children 3-5 years of age. Head start is a holistic approach to early childhood education that addresses not only the educational needs of the children but also the health, nutrition, social, mental health and literacy needs as well. Multi-cultural classrooms serve children who are unable to speak english or speak english as a secondary language.children attend preschool classes four days a week. Meals and snacks are served. In addition to the classroom activities, children and their parents take part in field trips to expose them to educational and cultural activities in their communities.

Operating model

Revenue model
Grant-funded. 75% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.6%; rating input score 95
  • Program expense ratio: 94.3%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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; 66th percentile among comparable filings
  • Governance controls: 9 of 9 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.3%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.44; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 94.6% of revenue deployed · 94.3% of spending went to programs
  • Governance: 14 of 14 board members independent · 9 of 9 filing controls reported
  • Programs: 8 filed program accomplishments · $11.7M in reported program spending
  • Leadership: top reported pay $122K · 18 people listed
  • Highest-paid contractors: 2 contractors listed · $233K reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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 — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.