Westerville Industry and Commerce Corpor

Nonprofit profile at a glance

EIN
311083219
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-EZ 2012
Location
Westerville, OH, USA
Phone
6149016409
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$906,198
Expenses
$676,274
Assets
$9,941,955
Liabilities
$0

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

Leadership & pay

11 people listed

People named in this filing

  • Janet Davis (Chairperson)
  • Dennis Blair (Trustee-End)
  • Andrew Winkel (Trustee-Begin)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To advance, encourage and promote industrial, economic, commercial and civic development of the City of Westerville and Blendon, Sharon, Orange and Genoa Townships by such means as will improve the normal growth, employment opportunities, stability of employment in existing industry, advancement of the industrial and commercial life of the community and to stabilize the general economy of the area.

What it reported doing in 2024

Provide loans to local businesses that promote our tax exempt purpose. If certain income tax revenues are generated by the company within a specified period of time, the loans are forgiven.

Operating model

Revenue model
Affiliate-supported. 94% of the money available for current operations came from contributions from related organizations.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 88
  • Accountability: 88
  • Sustainability: 86
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.6%; rating input score 64
  • Program expense ratio: 82.2%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 95.5%; rating input score 96; 42nd percentile among comparable filings
  • 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: Fail

Sustainability

  • Operating margin: 25.4%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 14.7; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -0.1% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: 23.2% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 23.3% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 63.6% of revenue deployed · 82.2% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 7 filing controls reported
  • Programs: 9 filed program accomplishments · $556K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 16 of 18 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 8 filed related-organization links
  • 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 — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.