The Economic Development Group Inc

Nonprofit profile at a glance

EIN
223781639
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Buffalo, NY, USA
Phone
7164363229
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Camps

Official website

Reported finances

Revenue
$7,785,454
Expenses
$5,727,773
Assets
$6,941,704
Liabilities
$1,818,348

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

Leadership & pay

17 people listed

Executive titles in this filing

  • STEPHEN TUCKER (PRESIDENT & CEO)

Highest reported compensation

  • STEPHEN TUCKER (PRESIDENT & CEO): $342,131 total reported compensation
  • CAROLYN STORMS-STOLTMAN (VP OF ENROLLMENT AND ORGAN): $129,346 total reported compensation
  • ASANTEWA HOLLEY (VP OF OPERATIONS): $117,838 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of northland working training center is to advance the economic well-being of western New York by developing and maintaining a skilled and diverse workforce to meet the needs of the advanced manufacturing and energy sectors, while providing opportunities to job seekers as well as pathways to gainful employment, career advancement and economic sustainability.

What it reported doing in 2024

Northland workforce training center houses two co-located training facilities: the advanced manufacturing training center and the utility of the future & clean energy training center, to increase the number and quality of local candidates prepared for energy and advanced manufacturing careers. Northland provides for-credit, certificate and degree programs as core offerings through its educational partners, suny alfred state college and suny erie community college, incorporating evidence-based placement strategies, such as co-ops, apprenticeships and internships, and an emphasis on permanent employment.

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 total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 67
  • Accountability: 95
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.5%; rating input score 55
  • Program expense ratio: 75.3%; rating input score 75
  • Fundraising efficiency: $643.74 raised per $1 spent on fundraising; rating input score 96; 96th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 26.4%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 1.21; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 10.3%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 17.7% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: 18.3% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 26.2% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 55.5% of revenue deployed · 75.3% of spending went to programs
  • Governance: 14 of 14 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.3M in reported program spending
  • Leadership: top reported pay $342K · 17 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $907K reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 29/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.