Wolfforth Community Development Corporat

Nonprofit profile at a glance

EIN
203520678
IRS 990 coverage
2021–2022
Forms available
Form 990 2022, Form 990-EZ 2020
Location
Wolfforth, TX, USA
Phone
8068664215
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$55,134
Expenses
$50,417
Assets
$515,507
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

2 people listed

People named in this filing

  • RANDY GROSS (CHAIRMAN)
  • ROBIN REYNOLDS (SEC/TREASURER)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the organization is to assist in and enhance economic development within the city of wolfforth, Texas; to support programs whose purpose is to eliminate unemployment and under employment; to provide for historic preservation and cultural development of the city of wolfforth; to promote education and job training; to finance and to otherwise provide public services to the residents of the city of wolfforth.

What it reported doing in 2022

Economic development of city of wolfforth

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating revenue.
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

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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 66
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.5%; rating input score 92
  • Program expense ratio: 100%; rating input score 100
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.6%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 10.22; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 27.9% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: -9.8% per year; rating input score 0; 35th percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 91.5% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 2 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $50K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2021 to 2022
  • Contacts: How to reach this organization
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.