Switzerland County Economic Development Corporation Inc

Nonprofit profile at a glance

EIN
320082296
IRS 990-EZ coverage
2022–2022
Forms available
Form 990 2020, Form 990-EZ 2022
Location
Vevay, IN, USA
Phone
8124279100
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$178,523
Expenses
$211,821
Assets
$51,533
Liabilities
$82,514

Source: IRS Form 990-EZ. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • JONATHAN BOND (PRESIDENT)

People named in this filing

  • JONATHAN BOND (PRESIDENT)
  • TOM CONROY (VICE CHAIR)
  • BRUCE WILLIAMS (SECRETARY/TREASURER)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The switzerland county economic development corporation was created to support the county's economic development strategy and to help position switzerland county for aggressive growth initiatives. The non-profit corporation serves as a facilitator, coordinating local entities and elected bodies to further improve switzerland county's business development capacity and quality of life.

What it reported doing in 2022

Switzerland county economic development corporation (scedc) carries out the county's economic development activites by attracting new industries to the area and by encouraging the development and retention of industries in the community. Scedc has identified several priority goals that serve as a reference point and "road map" for the future of switzerland county. Scedc is committed to protecting a clean, safe, rural lifestyle while providing 21st century infrastructure, public, medical and education services. Scedc has put together an aggressive strategy for making switzerland county a home to a top quality workforce and to businesses that not only offer high skill job opportunities but are also great community citizens.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 74
  • Sustainability: 12
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 1st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -18.7%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.24; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 1.6; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 35.8%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -7.8% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -5.8% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $212K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.