Alleghany Highlands Economic Development Corporation
Alleghany Highlands Economic Development Corporation maintains zero officer compensation amidst declining revenue and growing assets.
EIN: 161620392 · Covington, VA · NTEE: S30 · Updated: 2026-03-28
Is Alleghany Highlands Economic Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Alleghany Highlands Economic Development Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Alleghany Highlands Economic Development Corporation
Alleghany Highlands Economic Development Corporation (EIN: 161620392) is a nonprofit organization based in Covington, VA, classified under NTEE code S30. The organization reported total revenue of $195K and total assets of $371K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Alleghany Highlands Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Alleghany Highlands Economic Development Corporation with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Alleghany Highlands Economic Development Corporation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers receive salaries from the organization. This is an exceptional practice for a nonprofit of any size, demonstrating a strong commitment to resource allocation directly to its mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Alleghany Highlands Economic Development Corporation's IRS 990 filings:
- Significant decline in revenue over the past five years (from $579,290 in 2020 to $239,255 in 2023).
Strengths
The following positive indicators were identified for Alleghany Highlands Economic Development Corporation:
- Consistent 0% officer compensation across all filings, indicating high efficiency and transparency.
- Assets have shown consistent growth, from $194,269 in 2019 to $316,663 in 2023, demonstrating financial stability.
- Liabilities remain low relative to assets, indicating sound financial management.
- Expenses generally kept below revenue, leading to positive net income in most years.
Frequently Asked Questions about Alleghany Highlands Economic Development Corporation
Is Alleghany Highlands Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Alleghany Highlands Economic Development Corporation (EIN: 161620392) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Alleghany Highlands Economic Development Corporation spend its money?
Alleghany Highlands Economic Development Corporation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Alleghany Highlands Economic Development Corporation tax-deductible?
Alleghany Highlands Economic Development Corporation is registered as a tax-exempt nonprofit (EIN: 161620392). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Alleghany Highlands Economic Development Corporation a good charity?
Based on the available financial data, AHEDC appears to be a well-managed organization. Its consistent 0% officer compensation, growing assets, and generally positive net income (revenue exceeding expenses) suggest a strong commitment to its mission and efficient use of resources. The declining revenue trend warrants monitoring, but overall financial health appears sound.
How has the organization's revenue trended over the past five years?
The organization's revenue has shown a significant decline over the past five years, from $579,290 in 2020 to $239,255 in 2023. This represents a decrease of approximately 58%.
What is the organization's approach to executive compensation?
The Alleghany Highlands Economic Development Corporation has consistently reported 0% officer compensation in all available IRS 990 filings, indicating that no salaries are paid to its officers. This is a highly transparent and efficient practice.
Filing History
IRS 990 filing history for Alleghany Highlands Economic Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Alleghany Highlands Economic Development Corporation's revenue has declined by 66.9%, moving from $722K to $239K. Total assets decreased by 4.3% over the same period, from $331K to $317K. Total functional expenses fell by 69%, from $644K to $200K. In its most recent filing year (2023), Alleghany Highlands Economic Development Corporation reported a surplus of $39K, with revenue exceeding expenses. The organization holds $22K in liabilities against $317K in assets (debt-to-asset ratio: 6.8%), resulting in net assets of $295K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $239K | $200K | $317K | $22K | — | — |
| 2022 | $303K | $254K | $276K | $21K | — | View 990 |
| 2021 | $382K | $350K | $238K | $30K | — | View 990 |
| 2020 | $579K | $537K | $261K | $85K | — | View 990 |
| 2019 | $513K | $479K | $194K | $60K | — | View 990 |
| 2018 | $372K | $415K | $153K | $52K | — | View 990 |
| 2017 | $366K | $344K | $161K | $18K | — | View 990 |
| 2016 | $363K | $299K | $137K | $16K | — | View 990 |
| 2015 | $148K | $167K | $73K | $16K | — | View 990 |
| 2014 | $238K | $279K | $106K | $30K | — | View 990 |
| 2013 | $232K | $308K | $143K | $26K | — | View 990 |
| 2012 | $273K | $264K | $216K | $23K | — | View 990 |
| 2011 | $722K | $644K | $331K | $132K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $239K, expenses of $200K, and assets of $317K (revenue -21.1% year-over-year).
- 2022: Revenue of $303K, expenses of $254K, and assets of $276K (revenue -20.5% year-over-year).
- 2021: Revenue of $382K, expenses of $350K, and assets of $238K (revenue -34.1% year-over-year).
- 2020: Revenue of $579K, expenses of $537K, and assets of $261K (revenue +12.9% year-over-year).
- 2019: Revenue of $513K, expenses of $479K, and assets of $194K (revenue +37.7% year-over-year).
- 2018: Revenue of $372K, expenses of $415K, and assets of $153K (revenue +1.8% year-over-year).
- 2017: Revenue of $366K, expenses of $344K, and assets of $161K (revenue +0.8% year-over-year).
- 2016: Revenue of $363K, expenses of $299K, and assets of $137K (revenue +145.3% year-over-year).
- 2015: Revenue of $148K, expenses of $167K, and assets of $73K (revenue -37.7% year-over-year).
- 2014: Revenue of $238K, expenses of $279K, and assets of $106K (revenue +2.3% year-over-year).
- 2013: Revenue of $232K, expenses of $308K, and assets of $143K (revenue -15.0% year-over-year).
- 2012: Revenue of $273K, expenses of $264K, and assets of $216K (revenue -62.1% year-over-year).
- 2011: Revenue of $722K, expenses of $644K, and assets of $331K.
Data Sources and Methodology
This transparency report for Alleghany Highlands Economic Development Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.