Waupaca County Economic Development Corporation

Nonprofit profile at a glance

EIN
391807972
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
New London, WI, USA
Phone
9209821582
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$1,138,609
Expenses
$1,246,084
Assets
$1,868,654
Liabilities
$2,011

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

Leadership & pay

19 people listed

Executive titles in this filing

  • Aaron Jenson (President)
  • Caz Muske (Vice President)

Highest reported compensation

  • Jeffrey Mikorski (Executive Dir.): $95,874 total reported compensation

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

Overview

Mission

The wcedc partners with local municipalities, the state of Wisconsin, and individual businesses to increase/retain jobs, generate new investment, attract visitors and tourists and develop/sustain a healthy economy for waupaca county, wi.

What it reported doing in 2024

Marketing cooperative program - This program involves hiring a marketing firm to promote businesses and communities with videos on facebook and youtube.

Operating model

Revenue model
Grant-funded. 92% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 97% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 93
  • Accountability: 59
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.2%; rating input score 96
  • 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 73.7%; rating input score 74; 15th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -9.4%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 1.5; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: 61.5% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 28.4% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 26.7% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.2% of spending went to programs
  • Governance: 14 of 19 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.2M in reported program spending
  • Leadership: top reported pay $96K · 19 people listed
  • Highest-paid contractors: 2 contractors listed · $863K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 5 filing years from 2020 to 2024
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 18/100.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.