Hancock County Economic Development Corporation
Hancock County Economic Development Corporation maintains stable finances with volunteer leadership and low liabilities.
EIN: 202714626 · Garner, IA · NTEE: S20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $150K |
| Total Expenses | $154K |
| Program Spending | 85% |
| Net Assets | $111K |
| Transparency Score | 88/100 |
Is Hancock County Economic Development Corporation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hancock County Economic Development Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hancock County Economic Development Corporation
Hancock County Economic Development Corporation (EIN: 202714626) is a nonprofit organization based in Garner, IA, classified under NTEE code S20. The organization reported total revenue of $150K and total assets of $88K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hancock County Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hancock County Economic Development Corporation is a small nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $146K |
| Total Expenses | $154K |
| Surplus / Deficit | $-7,640 |
| Total Assets | $111K |
| Net Assets | $111K |
| Operating Margin | -5.2% |
| Months of Reserves | 8.6 months |
Financial Health Grade: B
In 2023, Hancock County Economic Development Corporation reported a deficit of $8K with expenses exceeding revenue, holds 8.6 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Hancock County Economic Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 10.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +5.1% | +8.9% | -6.5% |
| 2022 | -28.7% | -15.8% | -3.9% |
| 2021 | +51.4% | +41.7% | +27.8% |
| 2020 | -12.0% | -17.2% | +7.3% |
| 2019 | +4.8% | +3.9% | +11.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hancock County Economic Development Corporation with a Mission Score of 88 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: 15%
- programs: 85%
- fundraising: 0%
According to IRS 990 filings, Hancock County Economic Development Corporation allocates its expenses as follows: admin: 15%, programs: 85%, fundraising: 0%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $8K, with expenses exceeding revenue.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either entirely volunteer-based or compensated through other means not classified as officer compensation, which significantly reduces overhead for a small organization.
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.
Strengths
The following positive indicators were identified for Hancock County Economic Development Corporation:
- Consistent 0% officer compensation, indicating efficient use of funds.
- Very low to zero liabilities across all reported periods, demonstrating strong financial management.
- Consistent filing of IRS Form 990s over 13 periods, showing commitment to transparency.
- Stable revenue and expense patterns over a decade, suggesting predictable operations.
- Assets have shown modest growth while maintaining low liabilities.
Frequently Asked Questions about Hancock County Economic Development Corporation
Is Hancock County Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Hancock County Economic Development Corporation (EIN: 202714626) appears legitimate. Mission Score: 88/100. 0 red flags identified, 5 strengths noted.
How does Hancock County Economic Development Corporation spend its money?
Hancock County Economic Development Corporation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Hancock County Economic Development Corporation tax-deductible?
Hancock County Economic Development Corporation is registered as a tax-exempt nonprofit (EIN: 202714626). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Hancock County Economic Development Corporation compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Hancock County Economic Development Corporation is above average for NTEE category S20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hancock County Economic Development Corporation located?
Hancock County Economic Development Corporation is headquartered in Garner, Iowa and files with the IRS under EIN 202714626. It is classified under NTEE code S20.
How many years of IRS 990 filings does Hancock County Economic Development Corporation have?
Hancock County Economic Development Corporation has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $150K in total revenue.
Is Hancock County Economic Development Corporation a good charity?
Based on the available financial data, the organization appears to be well-managed with a strong focus on its mission, evidenced by low administrative costs and no reported officer compensation. Its consistent financial reporting and low liabilities are positive indicators.
How does the organization manage its executive compensation?
The organization reports 0% officer compensation in all available filings, suggesting that its leadership is either volunteer-based or compensated through mechanisms not categorized as officer compensation on the 990, which is a highly efficient model for a nonprofit.
What is the trend in the organization's assets and liabilities?
Assets have shown a general upward trend, from $74,544 in 2015 to $110,684 in 2023. Liabilities have consistently been very low, often $0, indicating strong financial health and minimal debt burden.
Filing History
IRS 990 filing history for Hancock County Economic Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hancock County Economic Development Corporation's revenue has grown by 223.3%, moving from $45K to $146K. Total assets increased by 87.3% over the same period, from $59K to $111K. Total functional expenses rose by 296.3%, from $39K to $154K. In its most recent filing year (2023), Hancock County Economic Development Corporation reported a deficit of $8K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $146K | $154K | $111K | $0 | — | — |
| 2022 | $139K | $141K | $118K | $0 | — | View 990 |
| 2021 | $195K | $168K | $123K | $3K | — | View 990 |
| 2020 | $129K | $118K | $96K | $3K | — | — |
| 2019 | $146K | $143K | $90K | $6K | — | View 990 |
| 2018 | $140K | $138K | $80K | $197 | — | View 990 |
| 2017 | $99K | $97K | $79K | $763 | — | View 990 |
| 2016 | $103K | $99K | $78K | $2K | — | View 990 |
| 2015 | $89K | $92K | $75K | $3K | — | View 990 |
| 2014 | $86K | $80K | $79K | $4K | — | View 990 |
| 2013 | $83K | $74K | $74K | $6K | — | View 990 |
| 2012 | $70K | $70K | $69K | $9K | — | View 990 |
| 2011 | $45K | $39K | $59K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $146K, expenses of $154K, and assets of $111K (revenue +5.1% year-over-year).
- 2022: Revenue of $139K, expenses of $141K, and assets of $118K (revenue -28.7% year-over-year).
- 2021: Revenue of $195K, expenses of $168K, and assets of $123K (revenue +51.4% year-over-year).
- 2020: Revenue of $129K, expenses of $118K, and assets of $96K (revenue -12.0% year-over-year).
- 2019: Revenue of $146K, expenses of $143K, and assets of $90K (revenue +4.8% year-over-year).
- 2018: Revenue of $140K, expenses of $138K, and assets of $80K (revenue +41.3% year-over-year).
- 2017: Revenue of $99K, expenses of $97K, and assets of $79K (revenue -3.7% year-over-year).
- 2016: Revenue of $103K, expenses of $99K, and assets of $78K (revenue +15.0% year-over-year).
- 2015: Revenue of $89K, expenses of $92K, and assets of $75K (revenue +4.2% year-over-year).
- 2014: Revenue of $86K, expenses of $80K, and assets of $79K (revenue +3.7% year-over-year).
- 2013: Revenue of $83K, expenses of $74K, and assets of $74K (revenue +17.7% year-over-year).
- 2012: Revenue of $70K, expenses of $70K, and assets of $69K (revenue +55.4% year-over-year).
- 2011: Revenue of $45K, expenses of $39K, and assets of $59K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hancock County Economic Development Corporation:
Data Sources and Methodology
This transparency report for Hancock County 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.