Waukesha County Economic Development Corporation

Nonprofit profile at a glance

EIN
391685232
IRS 990 coverage
2012–2014
Forms available
Form 990 2014
Location
Waukesha, WI, USA
Phone
2623698800
Rating
55
Verdict
MIXED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Reported finances

Revenue
$323,767
Expenses
$346,548
Assets
$1,485,353
Liabilities
$1,694,525

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • Jay Mack (President)
  • Stuart Schroeder (Vice President)
  • Richard Smith (past president)

Highest reported compensation

  • William Mitchell (Executive Dir.): $82,637 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promote economic development in Waukesha County.

What it reported doing in 2014

Revolving Loan Fund - Assist small businesses with financing needs.

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

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: 22
  • Transparency & Controls: 100
  • Accountability: 69
  • Sustainability: 37
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 26.1%; rating input score 26
  • Program expense ratio: 24.4%; rating input score 24
  • 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: 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -7%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 4.29; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 1.14; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 23.8%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: -7.8% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: -11.3% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 18.3% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 26.1% of revenue deployed · 24.4% of spending went to programs
  • Governance: 13 of 13 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $84K in reported program spending
  • Leadership: top reported pay $83K · 14 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2012 to 2014
  • 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 26/100.
  • High — Financial Efficiency: Program expense ratio scored 24/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.