The Southeastern Partnership Ii

Nonprofit profile at a glance

EIN
561974942
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Elizabethtown, NC, USA
Phone
9108628511
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$1,035,195
Expenses
$9,460
Assets
$1,112,439
Liabilities
$0

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

Leadership & pay

10 people listed

Executive titles in this filing

  • STEVE YOST (PRESIDENT)

People named in this filing

  • SPENCE BROADHURST (DIRECTOR)
  • ALLEN BRYANT (DIRECTOR)
  • DREW COVERT (DIRECTOR)

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

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

Overview

Mission

To maintain information system and assist with economic development in the region of southeeastern nc

What it reported doing in 2024

Operation and maintenance of a regional data center, including education and training of economic developers

Operating model

Revenue model
Donor-supported. 98% 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: 7
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 96
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.4%; rating input score 0
  • Program expense ratio: 22%; rating input score 22
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Pass

Sustainability

  • Operating margin: 99.1%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 117.59; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -18% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: 14.9% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 13.2% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 0.4% of revenue deployed · 22% of spending went to programs
  • Governance: 51 of 51 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 0/100.
  • High — Financial Efficiency: Program expense ratio scored 22/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.