Tracy Development Corporation

Nonprofit profile at a glance

EIN
822693582
IRS 990-EZ coverage
2019–2024
Forms available
Form 990-EZ 2024
Location
Tracy, MN, USA
Phone
5076293400
Rating confidence
Limited
Sector
Economic Development

Reported finances

Revenue
$0
Expenses
$2,297
Assets
$107,995
Liabilities
$42,000

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

Leadership & pay

4 people listed

Executive titles in this filing

  • Dale Johnson III (President)
  • John Lanoue (Vice President)

People named in this filing

  • Dale Johnson III (President)
  • Jeff Salmon (Sec/Treasurer)
  • John Lanoue (Vice President)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote industrial, commercial and other economic development in and surrounding the City of Tracy and to further promotion of the common good and general welfare of the people in and around the City of Tracy, Minnesota.

What it reported doing in 2024

No major events in 2024, TDC continues to raise awareness towards advancing the community's economic vitality.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 36
  • Transparency & Controls: 82
  • Sustainability: 37
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 95.3%; rating input score 95

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 47.02; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -39.6% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -55.1% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -5% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 95.3% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $2K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.