Addison County Economic Development Corporation (EIN 030331665) - Form 990 Financial Analysis & Trantor Score

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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

1991

Legal Domicile

Principal Officer

Alex Armani-Munn

Tax Period

2024-07-01 to 2025-06-30

Addison County Economic Development Corporation, founded in 1991, is a small nonprofit that reported $317K in total revenue in fiscal year 2024. Expenses of $375K exceeded revenue, resulting in a 18% operating deficit.

Mission

To create an entrepreneurial and innovative environment, nurturing business to launch, grow, and thrive.

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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 (2024)

Revenue Breakdown

Contributions & Grants $250,249

Program Service Revenue $65,093

Investment Income $1,057

Other Revenue $729

TOTAL REVENUE $317,128

Expense Breakdown

Grants Paid $0

Salaries & Benefits $233,864

Fundraising Expenses $27,293

Program Expenses $264,764

Other Expenses $141,508

TOTAL EXPENSES $375,372

Year-over-Year Comparison

	2024	2023	Change
Revenue	$317,128	$315,360	+0.0%
Expenses	$375,372	$342,333	+0.1%
Net Income	$-58,244	$-26,973	+1.2%

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

$112,590

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Frederick Kenney II	Executive Director	040.00	Officer	$103,264	$9,326	$112,590
Jason Larocque	President	002.00	Officer Director	$0	$0	$0
Gina Larrow	VP Treasurer	002.00	Officer Director	$0	$0	$0
David Castle	Secretary	002.00	Officer Director	$0	$0	$0
Christopher Lapierre	Board Member	002.00	Director	$0	$0	$0
Joseph Andriano	Board Member	002.00	Director	$0	$0	$0
Ryan Bartlett	Board Member	002.00	Director	$0	$0	$0
Mark Foster	Board Member	002.00	Director	$0	$0	$0
Nicole MacTavish	Board Member	002.00	Director	$0	$0	$0
Richard McKerr	Board Member	002.00	Director	$0	$0	$0
Robert Ortmyer	Board Member	002.00	Director	$0	$0	$0
Renny Perry	Board Member	002.00	Director	$0	$0	$0
Susan P Ritter	Board Member	002.00	Director	$0	$0	$0
Darcy Tarte	Board Member	002.00	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
2025	$317,128	$375,372	$1,245,918	$-58,244
2024	$315,360	$342,333	$1,187,721	$-26,973
2023	$234,977	$326,362	$1,152,971	$-91,385
2022	$329,758	$339,881	$1,197,128	$-10,123
2021	$362,506	$303,015	$1,150,154	$59,491
2020	$300,224	$394,631	$1,112,494	$-94,407
2019	$277,988	$360,990	$1,247,519	$-83,002

Addison County Economic Development Corporation