Sullivan Cty Economic Dev Commisssion Dba Networks - Sullivan Partnership

Nonprofit profile at a glance

EIN
620945243
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Blountville, TN, USA
Phone
4232797681
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$273,097
Expenses
$1,073,419
Assets
$8,728,306
Liabilities
$5,337,700

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

Leadership & pay

13 people listed

Executive titles in this filing

  • CLAY WALKER (CEO)

Highest reported compensation

  • CLAY WALKER (CEO): $234,393 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 develop and implement an overall economic development strategic plan whose overall goals are to create value added jobs, expand and diversify the economic base, and generate increased local tax revenues for the local governments.

What it reported doing in 2024

Promotion of commercial and industrial development in sullivan county, tn. To aid and assist in problems pertaining to the expansion of existing industry and commercial development.

Operating model

Revenue model
Donor-supported. 60% of the money available for current operations came from contributions and gifts.
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. A relatively small share of available resources goes toward mission work and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 39
  • Transparency & Controls: 74
  • Accountability: 95
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 33.5%; rating input score 34
  • Program expense ratio: 60.3%; rating input score 60
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass

Sustainability

  • Operating margin: -293.1%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 8.13; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.61; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 21.8%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 0.5% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 33.5% of revenue deployed · 60.3% of spending went to programs
  • Governance: 13 of 13 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $647K in reported program spending
  • Leadership: top reported pay $234K · 13 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 34/100.
  • High — Sustainability: Operating margin scored 1/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.