SCARBOROUGH ECONOMIC DEV CORP

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1985

Legal Domicile

Principal Officer

KAREN MARTIN

Phone

2078834893

Tax Period

2023-07-01 to 2024-06-30

SCARBOROUGH ECONOMIC DEV CORP, founded in 1985, is a small nonprofit in the Community Improvement sector that reported $296K in total revenue in fiscal year 2023.

Mission

THE SCARBOROUGH ECONOMIC DEVELOPMENT CORPORATION (SEDCO) DEVELOPS, SUPPORTS AND PROMOTES SUSTAINABLE ECONOMIC DEVELOPMENT PRACTICES LEADING TO A HEALTHY, DIVERSE AND RESILIENT LOCAL ECONOMY FOR THE SCARBOROUGH COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $243,445

IN ORDER TO FULFILL THE MISSION, SEDCO 1.DEVELOPS AND ADVOCATES FOR ECONOMIC POLICIES AND PROGRAMS WHICH SUPPORT THE TOWN'S COMPREHENSIVE PLAN 2.ASSISTS IN THE ATTRACTION, ESTABLISHMENT, RETENTION...

IN ORDER TO FULFILL THE MISSION, SEDCO 1.DEVELOPS AND ADVOCATES FOR ECONOMIC POLICIES AND PROGRAMS WHICH SUPPORT THE TOWN'S COMPREHENSIVE PLAN 2.ASSISTS IN THE ATTRACTION, ESTABLISHMENT, RETENTION AND EXPANSION OF BUSINESSES IN SCARBOROUGH; 3.PROVIDES CONFIDENTIAL ASSISTANCE TO ANY BUSINESS CONSIDERING STARTING, RELOCATING OR EXPANDING WITHIN THE TOWN LIMITS; 4.MAINTAINS AND GROWS A COMPREHENSIVE INTELLIGENCE SYSTEM FOR USE BY BOTH THE PRIVATE AND PUBLIC SECTORS; 5.ASSESSES THE ECONOMIC COMPETITIVENESS OF THE TOWN; 6.CULTIVATES A NETWORK OF LOCAL, REGIONAL, STATE, FEDERAL AND INTERNATIONAL RESOURCES WHICH CAN ASSIST LOCAL BUSINESSES AND MUNICIPAL OFFICIALS; AND 7.ASSISTS TOWN DEPARTMENTS IN PLANNING AND IMPLEMENTING ECONOMIC DEVELOPMENT POLICIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $296,322

Program Service Revenue $0

Investment Income $50

Other Revenue $0

TOTAL REVENUE $296,372

Expense Breakdown

Grants Paid $0

Salaries & Benefits $250,570

Fundraising Expenses $0

Program Expenses $243,445

Other Expenses $45,660

TOTAL EXPENSES $296,230

Year-over-Year Comparison

	2023	2022	Change
Revenue	$296,372	$281,178	+0.1%
Expenses	$296,230	$279,838	+0.1%
Net Income	$142	$1,340	-0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$133,462

Total Directors