PITTSFIELD ECONOMIC REVITALIZATION… - 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

1982

Legal Domicile

Principal Officer

MARK MCKENNA

Phone

4134999378

Tax Period

2024-07-01 to 2025-06-30

PITTSFIELD ECONOMIC REVITALIZATION CORPORATION, founded in 1982, is a small nonprofit in the Community Improvement sector that reported $318K in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

FURTHERING THE ECONOMIC DEVELOPMENT AND SOCIAL WELFARE OF THE CITY OF PITTSFIELD AND BERKSHIRE COUNTY AND PROMOTING AND ASSISTING THE GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS, INCLUDING SMALL BUSINESS CONCERNS.

Program Service Accomplishments

Program 1

Expenses: $280,830 Revenue: $33,373

PROVIDE LOANS AND GRANTS TO NEW BUSINESSES TO PROMOTE ECONOMIC DEVELOPMENT IN BERKSHIRE COUNTY.

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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 $284,465

Program Service Revenue $28,543

Investment Income $339

Other Revenue $4,830

TOTAL REVENUE $318,177

Expense Breakdown

Grants Paid $280,830

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $280,830

Other Expenses $59,906

TOTAL EXPENSES $340,736

Year-over-Year Comparison

	2024	2023	Change
Revenue	$318,177	$287,052	+0.1%
Expenses	$340,736	$278,559	+0.2%
Net Income	$-22,559	$8,493	-3.7%

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
J JAY ANDERSON	PRESIDENT	2.00	Officer Director	$0	$0	$0
JEFFREY BELAIR	TREASURER	2.00	Officer Director	$0	$0	$0
MARK MCKENNA	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
MATTHEW J SCARAFONI	DIRECTOR	2.00	Director	$0	$0	$0
JUSTINE DODDS	DIRECTOR	2.00	Director	$0	$0	$0
LINDA DULYE	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTINE BURKE	DIRECTOR	2.00	Director	$0	$0	$0
DENNIS EGAN	DIRECTOR	2.00	Director	$0	$0	$0
MAUER DESAI	DIRECTOR	2.00	Director	$0	$0	$0
AURIC ENCHILL	DIRECTOR	2.00	Director	$0	$0	$0
MIKE WILLSON	DIRECTOR	2.00	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	$318,177	$340,736	$464,534	$-22,559
2024	$287,052	$278,559	$622,398	$8,493
2023	$368,238	$321,856	$588,292	$46,382
2022	$246,143	$269,012	$419,726	$-22,869
2022	$235,673	$269,012	$419,726	$-33,339
2021	$201,460	$203,706	$452,881	$-2,246
2020	$94,842	$120,527	$441,797	$-25,685
2019	$98,211	$186,728	$452,672	$-88,517
2018	$78,602	$119,746	$775,947	$-41,144

PITTSFIELD ECONOMIC REVITALIZATION CORPORATION