Harrison County Economic Development Corporation

Harrison County Economic Development Corporation maintains stable operations with no officer compensation, but carries significant liabilities.

EIN: 201076473 · Corydon, IN · NTEE: S30 · Updated: 2026-03-28

$827KRevenue

$9.3MAssets

75/100Mission Score (Good)

S30

About Harrison County Economic Development Corporation

Harrison County Economic Development Corporation (EIN: 201076473) is a nonprofit organization based in Corydon, IN, classified under NTEE code S30. The organization reported total revenue of $827K and total assets of $9.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Harrison County Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Harrison County Economic Development Corporation demonstrates consistent financial activity, with revenues and expenses fluctuating but generally maintaining a stable operational scale. Over the past five years, revenues have ranged from $286,335 (2021) to $547,201 (2019), while expenses have been between $303,527 (2023) and $477,241 (2019). The organization consistently reports 0% officer compensation, which is a significant positive indicator for transparency and resource allocation directly to its mission. However, the high proportion of liabilities relative to assets, such as $6,331,506 in liabilities against $9,249,691 in assets in 2023, suggests a substantial reliance on debt or other obligations, which warrants closer examination to understand its long-term financial stability and risk profile. The organization's assets have seen a slight decline from a peak of over $10 million in 2020 to $9.2 million in 2023, indicating a potential reduction in overall financial capacity or strategic asset management shifts.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Harrison County Economic Development Corporation with a Mission Score of 75 out of 100 (Good). 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: 80%
fundraising: 5%

According to IRS 990 filings, Harrison County Economic Development Corporation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its officers, which is highly unusual and suggests either a volunteer-led executive team or compensation being reported under other expense categories, requiring further investigation for complete transparency.

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 Harrison County Economic Development Corporation's IRS 990 filings:

Consistently high liabilities relative to assets, indicating potential financial leverage or debt dependence.
0% officer compensation reported, which is unusual and may obscure true executive costs if compensation is reported elsewhere.

Strengths

The following positive indicators were identified for Harrison County Economic Development Corporation:

Consistent operational activity over many years, indicating stability.
No reported officer compensation, suggesting a strong commitment to directing funds to mission or volunteer leadership.
Maintains a substantial asset base of over $9 million, providing significant resources for its economic development mission.

Frequently Asked Questions about Harrison County Economic Development Corporation

What is the nature of the significant liabilities reported by the organization?

The consistent reporting of high liabilities, such as $6,331,506 in 2023 against $9,249,691 in assets, suggests a substantial portion of the organization's assets may be financed through debt or other obligations. Understanding the specific types of liabilities (e.g., mortgages, program-related investments, or other debt) is crucial for assessing financial risk.

How does the organization manage to operate with 0% officer compensation?

The consistent 0% officer compensation is highly unusual for an organization of this size and asset base. This could indicate that executive leadership is entirely volunteer-based, or that compensation is categorized differently within the financial statements (e.g., as general salaries or contractor fees), which would impact the true administrative cost picture.

What is the trend in the organization's net assets?

Net assets (Assets minus Liabilities) have fluctuated, showing a general decline from a high of approximately $2.3 million in 2020 ($10,261,566 - $7,906,333) to about $2.9 million in 2023 ($9,249,691 - $6,331,506). While the 2023 net assets show an improvement from 2020, the overall trend from earlier years (e.g., $2.5 million in 2017) suggests a relatively stable but not significantly growing equity base.

Filing History

IRS 990 filing history for Harrison County Economic Development Corporation showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2010–2023), Harrison County Economic Development Corporation's revenue has declined by 31%, moving from $644K to $444K. Total assets increased by 472.4% over the same period, from $1.6M to $9.2M. Total functional expenses fell by 36.1%, from $475K to $304K. In its most recent filing year (2023), Harrison County Economic Development Corporation reported a surplus of $141K, with revenue exceeding expenses. The organization holds $6.3M in liabilities against $9.2M in assets (debt-to-asset ratio: 68.5%), resulting in net assets of $2.9M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$444K	$304K	$9.2M	$6.3M	—	—
2022	$320K	$341K	$9.4M	$6.6M	—	View 990
2021	$286K	$384K	$9.5M	$7.2M	—	View 990
2020	$525K	$354K	$10.3M	$7.9M	—	View 990
2019	$547K	$477K	$10.3M	$8.1M	—	View 990
2018	$437K	$529K	$10.4M	$8.3M	—	View 990
2017	$517K	$404K	$11.0M	$8.9M	—	View 990
2016	$460K	$425K	$8.5M	$6.5M	—	View 990
2015	$607K	$408K	$8.5M	$6.5M	—	View 990
2014	$509K	$375K	$8.7M	$6.9M	—	View 990
2013	$515K	$332K	$7.2M	$5.5M	—	View 990
2012	$614K	$679K	$3.2M	$1.7M	—	View 990
2011	$638K	$383K	$3.4M	$1.8M	—	View 990
2010	$644K	$475K	$1.6M	$300K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $444K, expenses of $304K, and assets of $9.2M (revenue +39.0% year-over-year).
2022: Revenue of $320K, expenses of $341K, and assets of $9.4M (revenue +11.6% year-over-year).
2021: Revenue of $286K, expenses of $384K, and assets of $9.5M (revenue -45.4% year-over-year).
2020: Revenue of $525K, expenses of $354K, and assets of $10.3M (revenue -4.1% year-over-year).
2019: Revenue of $547K, expenses of $477K, and assets of $10.3M (revenue +25.2% year-over-year).
2018: Revenue of $437K, expenses of $529K, and assets of $10.4M (revenue -15.5% year-over-year).
2017: Revenue of $517K, expenses of $404K, and assets of $11.0M (revenue +12.6% year-over-year).
2016: Revenue of $460K, expenses of $425K, and assets of $8.5M (revenue -24.2% year-over-year).
2015: Revenue of $607K, expenses of $408K, and assets of $8.5M (revenue +19.3% year-over-year).
2014: Revenue of $509K, expenses of $375K, and assets of $8.7M (revenue -1.2% year-over-year).
2013: Revenue of $515K, expenses of $332K, and assets of $7.2M (revenue -16.2% year-over-year).
2012: Revenue of $614K, expenses of $679K, and assets of $3.2M (revenue -3.8% year-over-year).
2011: Revenue of $638K, expenses of $383K, and assets of $3.4M (revenue -0.8% year-over-year).
2010: Revenue of $644K, expenses of $475K, and assets of $1.6M.

Data Sources and Methodology

This transparency report for Harrison 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.