SCARBOROUGH ECONOMIC DEV CORP (EIN 010409428) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

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 is a 501(c)(3) with EIN 010409428, based in SCARBOROUGH, ME. Founded in 1985, the organization files IRS Form 990 and reported its most recent data for fiscal year 2023. In that period, it reported $296,372 in total revenue and $296,230 in total expenses, with net assets of $48,503.

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.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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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

$133,462

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN MARTIN	EXECUTIVE DI	40.00	Officer Director	$99,258	$34,204	$133,462
JONATHAN CRASNICK	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
JAMES HARTLEY	TREASURER	2.00	Officer Director	$0	$0	$0
TRAVIS KENNEDY	VICE CHAIR	2.00	Officer Director	$0	$0	$0
RICK SHINAY	SECRETARY/CL	2.00	Officer Director	$0	$0	$0
JASON PERKINS	DIRECTOR	1.00	Director	$0	$0	$0
HELLEN CELLA	DIRECTOR	1.00	Director	$0	$0	$0
ALLEN PAUL	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$296,372	$296,230	$67,370	$142
2023	$281,178	$279,838	$61,698	$1,340
2022	$261,794	$259,795	$55,641	$1,999
2021	$251,338	$250,646	$58,328	$692
2020	$249,031	$258,562	$53,147	$-9,531
2019	$253,612	$250,149	$62,951	$3,463

SCARBOROUGH ECONOMIC DEV CORP