Spoon River Partnership for Economic Development

Nonprofit profile at a glance

EIN
050633175
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Canton, IL, USA
Phone
3096472677
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Reported finances

Revenue
$387,684
Expenses
$310,478
Assets
$554,880
Liabilities
$97,200

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

Leadership & pay

16 people listed

Executive titles in this filing

  • Susan Baldwin (President)
  • Holly Henline (Vice President)
  • Michelle Spiva (Executive Director)

Highest reported compensation

  • Michelle Spiva (Executive Director): $60,408 total reported compensation

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

Overview

Mission

Dedicated to serve as a catalyst for economic and community development by capitalizing on community partnerships, business development opportunities and implementation

What it reported doing in 2024

Serve as a catalyst for economic and community development by capitalizing on community partnerships, business development opportunities and implementation of programs and projects that foster growth and development

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 98% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. 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: 60
  • Transparency & Controls: 69
  • Accountability: 79
  • Sustainability: 56
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.1%; rating input score 62
  • Program expense ratio: 77.2%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 19.9%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 1.79; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 19.5%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: -1.7% per year; rating input score 0; 24th percentile among comparable filings
  • Revenue growth: 6.9% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 11.9% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 62.1% of revenue deployed · 77.2% of spending went to programs
  • Governance: 12 of 12 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $240K in reported program spending
  • Leadership: top reported pay $60K · 16 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 7 filing years from 2017 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.