LEWISTON DEVELOPMENT CORP C/O IAN … - 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

1952

Legal Domicile

Principal Officer

IAN PULLEN

Phone

2077840161

Tax Period

2021-07-01 to 2022-06-30

LEWISTON DEVELOPMENT CORP C/O IAN PULLEN NORWAY SAVINGS BANK, founded in 1952, is a small nonprofit that reported $365K in total revenue in fiscal year 2021. Expenses of $650K exceeded revenue, resulting in a 78% operating deficit.

Mission

TO PROMOTE JOB CREATION BY STIMULATING INDUSTRIAL AND COMMERCIAL DEVELOPMENT AND EXPANSION IN LEWISTON, MAINE

Program Service Accomplishments

Program 1

Expenses: $649,756 Revenue: $368,224

PROMOTE BUSINESS AND ECONOMIC DEVELOPMENT IN THE CITY OF LEWISTON, MAINE

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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 $516,703

Investment Income $-145,426

Other Revenue $-6,420

TOTAL REVENUE $364,857

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $649,756

Other Expenses $649,756

TOTAL EXPENSES $649,756

Year-over-Year Comparison

	2021	2020	Change
Revenue	$364,857	$-170,503	-3.1%
Expenses	$649,756	$10,528	+60.7%
Net Income	$-284,899	$-181,031	+0.6%

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

N/A

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
GARY ST LAURENT	DIRECTOR	1.00	Director	$0	$0	$0
LINCOLN JEFFERS	DIRECTOR	1.00	Director	$0	$0	$0
FRANK CARR	TREASURER	1.00	Officer Director	$0	$0	$0
AMY L BARRIAULT	SECRETARY	1.00	Officer Director	$0	$0	$0
MIKE DEYLING	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
LISA LALIBERTE	DIRECTOR	1.00	Director	$0	$0	$0
IAN PULLEN	PRESIDENT	1.00	Officer 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	$364,857	$649,756	$21,845	$-284,899
2021	$-170,503	$10,528	$951,260	$-181,031
2020	$-582,684	$33,542	$1,128,513	$-616,226
2019	$-100,886	$32,926	$1,783,454	$-133,812
2018	$-128,758	$167,049	$1,919,154	$-295,807

LEWISTON DEVELOPMENT CORP C/O IAN PULLEN NORWAY SAVINGS BANK