Woodward Development Corporation
Nonprofit profile at a glance
- EIN
- 311573317
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Mount Vernon, OH, USA
- Phone
- 7403975262
- Rating
- 59
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Historical Societies & Historic Preservation
Reported finances
- Revenue
- $1,433,461
- Expenses
- $942,644
- Assets
- $17,118,992
- Liabilities
- $258,753
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
People named in this filing
- LARRY GRINDLE (CHAIR)
- MAUREEN BUCHWALD (VICE-CHAIR)
- CHARLES KINDEL (SECRETARY)
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 support the performing arts and the heritage of knox county beginning with the renovation, restoration and operation of the woodward opera house and to engage in any lawful art or activity permitted under the Ohio revised code section 1702.1 to 1202.87 inclusive.
What it reported doing in 2024
Initiated a multi-million dollar restoration projected for the 2nd oldest theater in the united states - the woodward opera house cir 1851, that will house a healthy local foods initiative store and cafe in a food deficient neighborhood as well as arts and conference space to support the woodward arts and community development initiative.
Operating model
- Revenue model
- Earned-program. 62% of the money available for current operations came from fees and other program 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
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: 21
- Transparency & Controls: 100
- Accountability: 76
- Sustainability: 86
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 19.6%; rating input score 20
- Program expense ratio: 29.8%; rating input score 30
- 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: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 3 of 7 controls in place; rating input score 43
- Conflict-of-interest policy: Pass
- 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: 34.2%; rating input score 87; 87th percentile among comparable filings
- Total-asset coverage ratio: 18.16; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 65; 65th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: -1.4% per year; rating input score 0; 14th percentile among comparable filings
- Revenue growth: -9% per year; rating input score 0; 3rd percentile among comparable filings
- Asset growth: 6% per year; rating input score 100; 43rd percentile among comparable filings
Details
- Where the money goes: 19.6% of revenue deployed · 29.8% of spending went to programs
- Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
- Programs: 3 filed program accomplishments · $281K in reported program spending
- Leadership: top reported pay $0 · 9 people listed
- Consistency: 18 of 18 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 10 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: 4 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.
- High — Financial Efficiency: Mission deployment rate scored 20/100.
- Moderate — Financial Efficiency: Program expense ratio scored 30/100.
- Moderate — Accountability: Governance controls: 3 of 6 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.