Steuben County Economic Development Corporation

Nonprofit profile at a glance

EIN
383690102
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Angola, IN, USA
Phone
2606656889
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$578,865
Expenses
$527,868
Assets
$1,043,154
Liabilities
$28,601

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

Leadership & pay

16 people listed

Executive titles in this filing

  • JOSH DURBIN (PRESIDENT)

People named in this filing

  • BERT ELLIOTT (DIRECTOR)
  • DAN FOSTER (DIRECTOR)
  • MIKE HASSELMAN (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The mission of the corporation is to improve the quality of life for the citizens of steuben county, Indiana, through enhanced employment opportunities resulting from the responsible growth of business and industry.

What it reported doing in 2024

The steuben county economic development corporation was established by area leaders for the purpose of assisting existing industries to remain stable and expand, and to market and attract new firms and investment to the county through these economic development efforts. The organization achieves this through the recruitment of new industry, retention and expansion of existing industry, and general job promotion 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 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.4%; rating input score 62
  • Program expense ratio: 66.9%; rating input score 67
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.8%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 1.98; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: 5.4% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 9.8% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 62.4% of revenue deployed · 66.9% of spending went to programs
  • Governance: 16 of 16 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $353K in reported program spending
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • 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: Governance controls: 4 of 6 not reported.
  • Review — Sustainability: Operating margin scored 59/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.