St Bernard Economic Development Foundat

Nonprofit profile at a glance

EIN
113712951
IRS 990 coverage
2011–2023
Forms available
Form 990 2023, Form 990-EZ 2015
Location
Chalmette, LA, USA
Phone
5042774009
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Urban, Community Economic Development
Affiliation
Christianity

Official website

Reported finances

Revenue
$343,130
Expenses
$369,759
Assets
$816,291
Liabilities
$1

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

21 people listed

Executive titles in this filing

  • Meaghan Mccormack (CEO)

Highest reported compensation

  • Meaghan Mccormack (CEO): $130,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To create and retain jobs, build prosperity, and improve quality of life in st bernard parish

What it reported doing in 2023

Provision of economic development support activities throughout st bernard parish

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 and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 25
  • Transparency & Controls: 92
  • Accountability: 71
  • Sustainability: 39
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 31.4%; rating input score 31
  • Program expense ratio: 23.2%; rating input score 23
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.2%; rating input score 95; 26th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.8%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 2.21; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 62; 62nd percentile among comparable filings
  • Officer compensation ratio: 35.3%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: -3.2% per year; rating input score 0; 22nd percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 8.8% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 31.4% of revenue deployed · 23.2% of spending went to programs
  • Governance: 20 of 21 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $86K in reported program spending
  • Leadership: top reported pay $130K · 21 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 9 filing years from 2011 to 2023
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 31/100.
  • High — Financial Efficiency: Program expense ratio scored 23/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.