Sweeny Economic Development Corp

Nonprofit profile at a glance

EIN
760596624
IRS 990 coverage
2009–2010
Forms available
Form 990 2010
Location
Sweeny, TX, USA
Phone
9795483249
Rating confidence
Limited
Sector
Public, Societal Benefit

Reported finances

Revenue
$152,071
Expenses
$116,141
Assets
$899,020
Liabilities
$375,122

Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.

Leadership & pay

7 people listed

Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promote economic development for the city of sweeny, Texas.

What it reported doing in 2010

Sweeny industrial park - purchase of land improvements and infrastructure improvements for new industrial park which will be for the benefit of the city of sweeny and its residents with the introduction of new business into sweeny.

Operating model

Revenue model
Earned-program. 67% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 100
  • Accountability: 64
  • Sustainability: 76
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 59th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 79th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • 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: 23.6%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 7.74; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 75; 75th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -107.9% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $88K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 2 filing years from 2009 to 2010
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

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

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.