The Siouxland Initiative

Nonprofit profile at a glance

EIN
421328697
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Sioux City, IA, USA
Phone
7122557903
Rating
53
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$583,110
Expenses
$576,403
Assets
$1,395,055
Liabilities
$178,823

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

Leadership & pay

15 people listed

Executive titles in this filing

  • CHRISTOPHER MCGOWAN (PRESIDENT)
  • BARBARA SLONIKER (EXECUTIVE VICE PRESIDENT)

Highest reported compensation

  • CHRISTOPHER MCGOWAN (PRESIDENT): $391,500 total reported compensation
  • BARBARA SLONIKER (EXECUTIVE VICE PRESIDENT): $181,804 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 economic growth in the tri-state siouxland area

What it reported doing in 2024

Small business development - provide small business networking and promotion of continued investor relations to develop and expand new business opportunities in the local area.

Operating model

Revenue model
Donor-supported. 61% 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

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 10
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 46
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 13.3%; rating input score 13
  • Program expense ratio: 7%; rating input score 7
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.2%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 2.42; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 17.9%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 1.5% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 0.2% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 13.3% of revenue deployed · 7% of spending went to programs
  • Governance: 13 of 13 board members independent · 7 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $40K in reported program spending
  • Leadership: top reported pay $392K · 15 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 2 filed related-organization links
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 13/100.
  • High — Financial Efficiency: Program expense ratio scored 7/100.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.