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Lawrence Economic Development Corporation

EIN 31-1075744 · South Point, OH

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood74 out of 100GovernanceGood85 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • Only 23% of its spending went to programs.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

To promote economic development in the City of Ironton and the County of Lawrence, Ohio. To act as designated agent for providing governmental assistance to business enterprise and to promote the general economic development of Lawrence County, Ohio

Income
$10.1 million
Spending
$5.2 million
Spent on programs
23%
Reserves
8.8 months of spending
Largest source of income
other income, 56%
Employees
0
Volunteers
25
Highest pay
$185,518, executive director

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 74 out of 100.

  • Reserves

    28 of 35

    Spendable reserves would cover 8.8 months of spending.

  • Debt

    16 of 20

    It owes 16% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 48% of income.

  • Income trend

    15 of 15

    Income rose 91% on the year before.

  • Spending floor

    0 of 15

    23% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 85 out of 100.

  • Independent board

    25 of 25

    23 of 23 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $395,828 spent. During the FY 24 program year, SOAPEX has conducted 22 small business workshops. SOAPEX worked with 145 active clients resulting in 55 awarded contracts.
  2. $617,255 spent. During 2024, LEDC helped secure the development of a 42-bed physical rehabilitation hospital that is expected to bring nearly 200 jobs to the county. LEDC began planning the construction of a new 22,000 sq ft speculative building and is actively working through lease terms with a client. Additionally, LEDC has partnered with various county agencies to secure grant funding to remove asbestos from several local buildings to allow them to be used in the future, as well continuing to clean up the former Biomass site to get it ready for development.
  3. $212,279 spent. The CVB continues to work on the awarded ARC grant that is aimed at marking 27 historical Underground railroad sites along the Ohio River. The grant will be wrapped up in 2025 and is expected to mark all 27 sites. During the year, the CVB attended many events to increase awareness of tourism in Lawrence County. These include the Ohio RV and Boat Show and Ohio's Tourism Day at the Ohio Statehouse among others.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since June 1987.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.