Thorndale Economic Development Cor… - Form 990 Financial Data

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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

2002

Legal Domicile

Principal Officer

Stacy Irwin

Phone

5128982523

Tax Period

2021-10-01 to 2022-09-30

Thorndale Economic Development Corporation, founded in 2002, is a micro nonprofit in the Community Improvement sector that reported $43K in total revenue in fiscal year 2021. Revenue fell 26% from the prior year — a significant decline worth monitoring.

Mission

Promote economic development for the City of Thorndale.

Program Service Accomplishments

Program 1

Expenses: $0 Revenue: $42,666

Sales tax received from the City of Thorndale to fund Thorndale EDC economic development projects. Expenses spent in funding Thorndale EDC economic development projects.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $42,056

Investment Income $610

Other Revenue $0

TOTAL REVENUE $42,666

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $0

Other Expenses $0

TOTAL EXPENSES $0

Year-over-Year Comparison

	2021	2020	Change
Revenue	$42,666	$57,833	-0.3%
Expenses	N/A	$674	-1.0%
Net Income	N/A	$57,159	N/A

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dorvin Handrick	President	5.00	Director	$0	$0	$0
Melvin Hirt	Vice President	5.00	Director	$0	$0	$0
Gerald Niemtschk	Sec/Treasurer	5.00	Director	$0	$0	$0
Neil Weise	Director	5.00	Director	$0	$0	$0
Wayne Green	Director	5.00	Director	$0	$0	$0
Brian Morton	Director	5.00	Director	$0	$0	$0
Nell Caffey	Director	5.00	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
2022	$42,666	No data	No data	No data
2021	$57,833	$674	No data	$57,159
2020	$31,230	$18,530	No data	$12,700
2019	$26,910	$18,530	$219,470	$8,380
2018	$25,755	$1,262	$211,090	$24,493

Thorndale Economic Development Corporation