Washington County Local Development Corp

Nonprofit profile at a glance

EIN
141676889
IRS 990 coverage
2017–2025
Forms available
Form 990 2025
Location
Fort Edward, NY, USA
Phone
5187462292
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$413,160
Expenses
$135,017
Assets
$5,490,404
Liabilities
$35,765

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

22 people listed

Executive titles in this filing

  • DEANNA DERWAY (PRESIDENT)

Highest reported compensation

  • DEANNA DERWAY (PRESIDENT): $83,971 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide loans to businesses who provide jobs to low-middle income households.

What it reported doing in 2025

A county-wide program to provide support, training, financing, follow-up, and a resource center for support to existing qualifying microenterprises and potential entrepreneurs.

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 - 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: 29
  • Transparency & Controls: 100
  • Accountability: 90
  • Sustainability: 79
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 17.4%; rating input score 17
  • Program expense ratio: 58.5%; rating input score 58
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 67.3%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 40.66; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 62.2%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -22.7% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: 0.7% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 17.4% of revenue deployed · 58.5% of spending went to programs
  • Governance: 17 of 17 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $79K in reported program spending
  • Leadership: top reported pay $84K · 22 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 8 filing years from 2017 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 17/100.
  • Review — Financial Efficiency: Program expense ratio scored 58/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.