Strategic Economic Development Corporation of the Mid-willamette Valley
Nonprofit profile at a glance
- EIN
- 930810393
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Salem, OR, USA
- Phone
- 5035886225
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,381,400
- Expenses
- $1,483,249
- Assets
- $841,789
- Liabilities
- $80,277
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
44 people listed
Executive titles in this filing
- ERIK ANDERSSON (PRESIDENT)
Highest reported compensation
- ERIK ANDERSSON (PRESIDENT): $177,885 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Sedcor (strategic economic development corporation) is a nonprofit organization working with private and public partners to enhance and diversify the mid-willamette valley economy. Since 1982, sedcor has built and strengthened positive and productive partnerships with industry leaders, nonprofits, business advocacy groups, community organizations, educational institutions, state and federal agencies, local governments, and more. Sedcor's drive to grow and showcase economic development in marion, polk and yamhill counties is with a singular focus: bring traded sector jobs and wealth to the local economy. Sedcor's mission is 'opportunity and it is built on the founding values to: listen first; think outside the box; act with agility; and build to last. This is done by thoughtfully cultivating relationships and collaborating with partners across sectors to retain and attract high value jobs and capital investment, while providing member services that support business success
What it reported doing in 2024
The primary objective of the organization is to enhance and diversify the mid-willamette valley economy by providing recruitment, retention, and other services to businesses and municipalities in the region. During the year several large and small events were organized and attended by more than 2,000 people. These events provided opportunities to meet, learn and network with sedcor members and business community leaders.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 77
- Transparency & Controls: 84
- Accountability: 84
- Sustainability: 26
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 88.9%; rating input score 89
- Program expense ratio: 82.6%; rating input score 83
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Missing
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- 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: 5 of 8 controls in place; rating input score 62
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- 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: -7.4%; rating input score 20; 20th percentile among comparable filings
- Total-asset coverage ratio: 0.57; rating input score 26; 26th percentile among comparable filings
- Liabilities to assets ratio: 0.1; rating input score 43; 43rd percentile among comparable filings
- Officer compensation ratio: 12%; rating input score 31; 31st percentile among comparable filings
Growth
- Program expense growth: 44.1% per year; rating input score 100; 95th percentile among comparable filings
- Revenue growth: 10.5% per year; rating input score 100; 68th percentile among comparable filings
- Asset growth: 12.1% per year; rating input score 100; 65th percentile among comparable filings
Details
- Where the money goes: 88.9% of revenue deployed · 82.6% of spending went to programs
- Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $1.2M in reported program spending
- Leadership: top reported pay $178K · 44 people listed · 4 of 6 pay-setting controls reported
- Consistency: 29 of 29 current checks pass
- Schedules: 5 filed schedules · includes major donors and executive pay
- Filing history: 15 filing years from 2010 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.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- High — Sustainability: Operating margin scored 20/100.
- High — Sustainability: Total-asset coverage ratio scored 26/100.
- Moderate — Sustainability: Officer compensation ratio scored 31/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 43/100.