Valparaiso Economic Development Corp
Nonprofit profile at a glance
- EIN
- 311104871
- IRS 990-EZ coverage
- 2023–2024
- Forms available
- Form 990 2022, Form 990-EZ 2024
- Location
- Valparaiso, IN, USA
- Phone
- 2194621105
- Rating
- 62
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Urban, Community Economic Development
Reported finances
- Revenue
- $129,834
- Expenses
- $148,387
- Assets
- $62,284
- Liabilities
- $12,991
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- REX RICHARDS (PRESIDENT)
People named in this filing
- REX RICHARDS (PRESIDENT)
- DALE CLAPP (CHAIR)
- JON SCHMALTZ (CHAIR-ELECT)
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
Business attraction and retention
What it reported doing in 2024
Provided activities necessary to ensure business attraction and retention
Operating model
- Revenue model
- Donor-supported. 100% 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
SUPPORTED - The filed numbers largely add up and program spending has grown recently. 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: 50
- Transparency & Controls: 82
- Sustainability: 25
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 52.5%; rating input score 53
- Program expense ratio: 46%; rating input score 46
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -14.3%; rating input score 12; 12th percentile among comparable filings
- Total-asset coverage ratio: 0.42; rating input score 33; 33rd percentile among comparable filings
- Liabilities to assets ratio: 0.21; rating input score 18; 18th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 13.7% per year; rating input score 100; 68th percentile among comparable filings
- Revenue growth: -5.5% per year; rating input score 0; 8th percentile among comparable filings
- Asset growth: 7.2% per year; rating input score 100; 52nd percentile among comparable filings
Details
- Where the money goes: 52.5% of revenue deployed · 46% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $68K in reported program spending
- Leadership: top reported pay $0 · 17 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 2 filed schedules
- Filing history: 2 filing years from 2023 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.
- Review — Financial Efficiency: Mission deployment rate scored 53/100.
- Moderate — Financial Efficiency: Program expense ratio scored 46/100.
- High — Sustainability: Operating margin scored 12/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
- High — Sustainability: Liabilities to assets ratio scored 18/100.