MAIN SOUTH COMMUNITY DEVELOPMENT C… - 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

1986

Legal Domicile

Principal Officer

J STEPHEN TEASDALE

Phone

5087526181

Tax Period

2024-01-01 to 2024-12-31

MAIN SOUTH COMMUNITY DEVELOPMENT CORP, founded in 1986, is a community nonprofit in the Community Improvement sector that reported $5.1M in total revenue in fiscal year 2024. Revenue surged 225% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 32% operating margin.

Mission

TO PARTICIPATE IN THE PROMOTION AND DEVELOPMENT OF AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT IN THE MAIN SOUTH AREA OF WORCESTER, MASSACHUSETTS.

Program Service Accomplishments

Program 1

Expenses: $2,842,416 Revenue: $1,822,246

MANAGEMENT OF AFFORDABLE HOUSING PREVIOUSLY ACQUIRED AND DEVELOPED.

Program 2

Expenses: $56,889 Revenue: $190,455

ECONOMIC DEVELOPMENT AND REHABILITATION OF AFFORDABLE HOUSING IN THE MAIN SOUTH AREA OF WORCESTER, MA.

Program 3

Expenses: $278,004 Revenue: $2,711,359

NEIGHBORHOOD REVITILIZATION AREA OF WORCESTER, MA.

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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 $2,993,813

Program Service Revenue $2,012,701

Investment Income $109,202

Other Revenue $19,821

TOTAL REVENUE $5,135,537

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,026,885

Fundraising Expenses $49,938

Program Expenses $3,177,309

Other Expenses $2,459,575

TOTAL EXPENSES $3,486,460

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,135,537	$1,578,508	+2.3%
Expenses	$3,486,460	$1,625,803	+1.1%
Net Income	$1,649,077	$-47,295	-35.9%

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

$151,874

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JENNIFER PLANTE	PRESIDENT	0.50	Officer Director	$0	$0	$0
BRENDA JENKINS	DIRECTOR	0.50	Director	$0	$0	$0
LYNNEL REED	DIRECTOR	0.50	Director	$0	$0	$0
BRANDYN BASCONES	CLERK	0.50	Officer Director	$0	$0	$0
ISAAC MCBRIDE	DIRECTOR	0.50	Director	$0	$0	$0
EDUARDO RIVAS	TREASURER	0.50	Officer Director	$0	$0	$0
KATIA NORFORD	DIRECTOR	0.50	Director	$0	$0	$0
FRED TAYLOR	DIRECTOR	0.50	Director	$0	$0	$0
DEBORAH SANCHEZ	DIRECTOR	0.50	Director	$0	$0	$0
J STEPHEN TEASDALE	EXECUTIVE DIRECTOR	37.50	Officer	$139,734	$12,140	$151,874

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	$5,135,537	$3,486,460	$18,046,522	$1,649,077
2023	$3,070,612	$3,396,972	$15,279,032	$-326,360
2023	$1,578,508	$1,625,803	$15,549,435	$-47,295
2022	$3,407,145	$2,936,022	$15,010,122	$471,123
2021	$3,066,021	$2,821,589	$14,439,000	$244,432
2020	$2,045,496	$2,603,629	$15,712,749	$-558,133
2019	$1,827,403	$2,598,739	$15,776,585	$-771,336
2018	$2,435,751	$2,011,641	$11,517,429	$424,110

MAIN SOUTH COMMUNITY DEVELOPMENT CORP