The Economic Development Alliance for Brazoria County

Nonprofit profile at a glance

EIN
760075616
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Angleton, TX, USA
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,193,257
Expenses
$821,872
Assets
$2,794,401
Liabilities
$26,650

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

Leadership & pay

48 people listed

Executive titles in this filing

  • Patti Worfe (President & CEO)
  • Kenny Vernor (Vice President)
  • Anne Bartlett (Vice President)

Highest reported compensation

  • Patti Worfe (President & CEO): $177,098 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 promote and diversify the economic base, attract high-wage jobs in target industries to Brazoria County and support and champion the interests of existing businesses.

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. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 65
  • Accountability: 70
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.8%; rating input score 52
  • Program expense ratio: 69%; rating input score 69
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 84.8%; rating input score 85; 20th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 31.1%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 3.4; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 21.5%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 14.8% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 21.2% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 51.8% of revenue deployed · 69% of spending went to programs
  • Governance: 39 of 46 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $177K · 48 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2014 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 13/100.