GRANITE STATE ECONOMIC DEVELOPMENT CORP (EIN 020385121) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Phone

6034360009

Tax Period

2024-10-01 to 2025-09-30

GRANITE STATE ECONOMIC DEVELOPMENT CORP, founded in 1982, is a mid-sized nonprofit that reported $11.2M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.0M, a strong 18% operating margin.

Mission

TO CREATE ECONOMIC DEVELOPMENT BY ASSISTING BUSINESSES TO ACQUIRE SBA 504 FINANCING TO EXPAND THEIR BUSINESSES BY ACQUIRING, RENOVATING OR CONSTRUCTING REAL ESTATE AND/OR ACQUIRING MACHINERY & EQUIPMENT. THE EXPANDED BUSINESSES LEAD TO THE CREATION AND/OR RETENTION OF JOBS.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $9,534,275

Investment Income $1,691,461

Other Revenue $0

TOTAL REVENUE $11,225,736

Expense Breakdown

Grants Paid $300,500

Salaries & Benefits $6,956,038

Fundraising Expenses $0

Program Expenses $8,125,052

Other Expenses $1,935,304

TOTAL EXPENSES $9,191,842

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,225,736	$10,340,764	+0.1%
Expenses	$9,191,842	$8,048,792	+0.1%
Net Income	$2,033,894	$2,291,972	-0.1%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

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

$3,812,900

Total Directors

Key Employees

$252,755

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE ALDRICH	PRESIDENT	40.00	Officer	$481,300	$95,214	$576,514
FRED PALAZZOLO	SENIOR VICE PRESIDENT	40.00	Officer	$436,475	$88,597	$525,072
SEAN FITZGERALD	VICE PRESIDENT	40.00	Officer	$310,400	$97,652	$408,052
PAUL COLLINS	VICE PRESIDENT	40.00	Officer	$290,000	$88,864	$378,864
PAM BAILEY	VICE PRESIDENT	40.00	Officer	$250,200	$60,782	$310,982
ROBIN LAPOINTE	VICE PRESIDENT	40.00	Officer	$237,500	$54,722	$292,222
MATTHEW COLLINS	VICE PRESIDENT	40.00	Officer	$229,275	$50,780	$280,055
BARBARA ARENA	VICE PRESIDENT	40.00	Officer	$208,850	$61,389	$270,239
CARISSA MURRAY	VICE PRESIDENT	40.00	Officer	$200,500	$57,753	$258,253
TRACY GAYLORD	VICE PRESIDENT	40.00	Officer	$215,550	$40,900	$256,450
ETHAN SWAIN	VICE PRESIDENT	40.00	Officer	$197,282	$58,915	$256,197
LISA MOUSSEAU	KEY EMPLOYEE	40.00	Key Emp	$196,800	$55,955	$252,755
ASHLEY MCCARTHY	EMPLOYEE	40.00	Highest	$163,500	$56,129	$219,629
PIERRE DURAND	EMPLOYEE	40.00	Highest	$136,350	$49,040	$185,390
JACLYN ST ONGE	EMPLOYEE	40.00	Highest	$127,400	$44,684	$172,084
CATHY PICARDO	EMPLOYEE	40.00	Highest	$127,000	$40,083	$167,083
ALAN ABRAHAM	FORMER EMPLOYEE	0.00		$165,000	$0	$165,000
SCOTT GARDINER	FORMER EMPLOYEE	0.00		$165,000	$0	$165,000
BRANDT ABRAHAM	EMPLOYEE	40.00	Highest	$124,194	$30,381	$154,575
BIRGIT CHRISTIANSEN	DIRECTOR	1.50	Director	$0	$0	$0
NANCY CARMER	DIRECTOR	1.50	Director	$0	$0	$0
DAVID GOMPERS	DIRECTOR	1.50	Director	$0	$0	$0
PAUL BERGERON	DIRECTOR	1.50	Director	$0	$0	$0
JEFF ANGERS	DIRECTOR	1.50	Director	$0	$0	$0
WILLIAM POWERS	DIRECTOR	1.50	Director	$0	$0	$0
MARY DRISCOLL	DIRECTOR	1.50	Director	$0	$0	$0
CAROLYN CLOUTIER	DIRECTOR	1.50	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
2025	$11,225,736	$9,191,842	$27,804,367	$2,033,894
2024	$10,340,764	$8,048,792	$25,295,149	$2,291,972
2023	$9,828,396	$8,049,295	$22,447,674	$1,779,101
2022	$9,324,758	$8,300,783	$20,832,618	$1,023,975
2021	$8,490,833	$8,057,754	$20,882,943	$433,079
2020	$8,178,955	$7,924,864	$20,404,241	$254,091
2019	$7,871,634	$7,542,959	$19,198,592	$328,675
2018	$7,380,401	$6,783,174	$17,982,311	$597,227

GRANITE STATE ECONOMIC DEVELOPMENT CORP