Wiregrass Economic Development Corporation

Nonprofit profile at a glance

EIN
631113305
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Enterprise, AL, USA
Phone
3343934769
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$461,612
Expenses
$454,554
Assets
$955,124
Liabilities
$30,844

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

Leadership & pay

28 people listed

Executive titles in this filing

  • JESSE QUILLEN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JESSE QUILLEN (EXECUTIVE DIRECTOR): $100,320 total reported compensation

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

Overview

Mission

To promote commercial and industrial growth and prosperity for the city of enterprise, coffee county and geneva county, Alabama. The board will pursue a program which includes, but is not limited to: (1) establish and maintain a support and retention program for existing business and industry; (2) work to maintain a high per capita income and create jobs that pay above the average wage rates for southeast Alabama; (3) recruit new manufacturing and service sector jobs for our market area; (4) work to increase retail sales within our trade area on an annual basis; and, all other areas deemed necessary to promote economic development in southeast Alabama.

What it reported doing in 2024

Business and industry recruitment

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 a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.3%; rating input score 74
  • Program expense ratio: 75.2%; rating input score 75
  • 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: 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.5%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 2.1; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 22.1%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 6.2% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 74.3% of revenue deployed · 75.2% of spending went to programs
  • Governance: 26 of 26 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $342K in reported program spending
  • Leadership: top reported pay $100K · 28 people listed
  • Highest-paid contractors: 1 contractor listed · $120K reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 12 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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: 4 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.