QUINCY ECONOMIC DEVELOPMENT CORPOR… - 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

1993

Legal Domicile

Principal Officer

TIMOTHY P CAHILL

Phone

6174711700

Tax Period

2022-07-01 to 2023-06-30

QUINCY ECONOMIC DEVELOPMENT CORPORATION, founded in 1993, is a micro nonprofit in the Community Improvement sector that reported $64K in total revenue in fiscal year 2022. Revenue surged 461% from the prior year, signaling strong growth momentum. Expenses of $76K exceeded revenue, resulting in a 19% operating deficit.

Mission

TO PROMOTE COMMUNITY DEVELOPMENT IN THE CITY OF QUINCY AND THE SURROUNDING AREAS.

Program Service Accomplishments

Program 1

Expenses: $68,743 Revenue: $14,650

TO PROVIDE THE CITY OF QUINCY AREA DEVELOPMENT, REDEVELOPMENT, OR RENEWAL AIMED AT COMBATTING COMMUNITY DETERIORATION AND ATTRACTING NEW INDUSTRY TO THE AREA.

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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 (2022)

Revenue Breakdown

Contributions & Grants $49,000

Program Service Revenue $14,650

Investment Income $0

Other Revenue $0

TOTAL REVENUE $63,650

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $68,743

Other Expenses $75,774

TOTAL EXPENSES $75,774

Year-over-Year Comparison

	2022	2021	Change
Revenue	$63,650	$11,340	+4.6%
Expenses	$75,774	$27,356	+1.8%
Net Income	$-12,124	$-16,016	-0.2%

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

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

$117,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANTHONY AGNITTI	PRESIDENT	3.00	Officer Director	$0	$0	$0
BRIAN FERRARA	DIRECTOR	1.00	Director	$0	$0	$0
TOM KELLY	TREASURER	3.00	Officer Director	$0	$0	$0
JOHN MCCARTHY	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY CAHILL	DIRECTOR	40.00	Director	$0	$0	$117,500
MIKE FEENAN	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN RADELL	SECRETARY	3.00	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$63,650	$75,774	$40,496	$-12,124
2022	$11,340	$27,356	$28,365	$-16,016
2021	$15,230	$21,566	$43,812	$-6,336
2020	$58,204	$44,195	$49,188	$14,009
2019	$97,379	$86,886	$96,426	$10,493

QUINCY ECONOMIC DEVELOPMENT CORPORATION