FLAGSHIP ENTERPRISE CENTER

EIN: 043732583 501(c)(3) Community Improvement

ANDERSON, IN

Total Revenue
$3,702,475
Total Expenses
$4,209,065
Total Assets
$38,573,905
Net Assets
$30,985,163
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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
2005
Legal Domicile
IN
Principal Officer
TERRY TRUITT
Phone
7656220400
Tax Period
2024-06-01 to 2025-05-31

FLAGSHIP ENTERPRISE CENTER, founded in 2005, is a community nonprofit in the Community Improvement sector that reported $3.7M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Expenses of $4.2M exceeded revenue, resulting in a 14% operating deficit.

Mission

THE FLAGSHIP ENTERPRISE CENTER'S MISSION IS TO CONTRIBUTE TO THE LONG-TERM ECONOMIC DEVELOPMENT OF THE COMMUNITIES OF ANDERSON, MADISON COUNTY, AND THE STATE OF INDIANA BY ENCOURAGING AND NURTURING THE ENTREPRENEURIAL SPIRIT THROUGH PROVIDING MENTORING, NETWORKING, BUSINESS SERVICES, EDUCATIONAL OPPORTUNITIES, AND ACCESS TO CAPITAL.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $915,890
Program Service Revenue $1,852,279
Investment Income $931,955
Other Revenue $2,351
TOTAL REVENUE $3,702,475

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,853,460
Fundraising Expenses $0
Program Expenses $3,273,266
Other Expenses $2,355,605
TOTAL EXPENSES $4,209,065

Year-over-Year Comparison

2024 2023 Change
Revenue $3,702,475 $4,088,380 -0.1%
Expenses $4,209,065 $3,737,258 +0.1%
Net Income $-506,590 $351,122 -2.4%
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

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Governance

Voting Members
11
Independent Members
7
Employees
N/A
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
4
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TIM LANANE CHAIR 1.50
Officer Director
$0 $0 $0
STEPHANIE MORAN VICE CHAIR 1.00
Officer Director
$0 $0 $0
DAVID EICKS SECRETARY 0.50
Officer Director
$0 $0 $0
DAN COURTNEY DIRECTOR 0.50
Officer Director
$0 $0 $0
DOUG WHITHAM TREASURER 0.50
Director
$0 $0 $0
LEILA KELLY DIRECTOR 0.50
Director
$0 $0 $0
TERRI AUSTIN DIRECTOR 0.50
Director
$0 $0 $0
MIKE BARKER DIRECTOR 0.50
Director
$0 $0 $0
JON ADAMS DIRECTOR 0.50
Director
$0 $0 $0
JACK KEESLING DIRECTOR 0.50
Director
$0 $0 $0
SUAHIL HOUSHOLDER DIRECTOR 0.50
Director
$0 $0 $0
TERRY TRUITT PRESIDENT 40.00
Highest
$182,785 $0 $182,785
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 $3,702,475 $4,209,065 $38,573,905 $-506,590
2024 $4,088,380 $3,737,258 $38,434,037 $351,122
2023 $3,448,869 $3,395,547 $34,310,184 $53,322
2022 $8,589,036 $2,627,658 $36,311,474 $5,961,378
2021 $3,502,370 $2,620,587 $43,787,383 $881,783
2020 $3,476,670 $2,957,189 $38,817,581 $519,481
2019 $-34,638 $3,086,001 $29,284,944 $-3,120,639
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