FLAGSHIP ENTERPRISE CENTER

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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

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

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.

Program Service Accomplishments

Program 1

Expenses: $3,273,266 Revenue: $1,854,630

IN THE FISCAL YEAR ENDING MAY 31, 2025, FLAGSHIP ENTERPRISE CENTER LEASED 196,000 SQUARE FEET OF OFFICE, LAB, AND INDUSTRIAL SPACE TO GROWING COMPANIES INVOLVED IN RESEARCH AND DEVELOPMENT...

IN THE FISCAL YEAR ENDING MAY 31, 2025, FLAGSHIP ENTERPRISE CENTER LEASED 196,000 SQUARE FEET OF OFFICE, LAB, AND INDUSTRIAL SPACE TO GROWING COMPANIES INVOLVED IN RESEARCH AND DEVELOPMENT, MANUFACTURING, AND ENGINEERING. THE CENTER CLOSED 167 REGULAR SMALL BUSINESS LOANS DURING THE FISCAL YEAR. OF THESE LOANS, 71 WERE DISBURSED TO MINORITIES, 91 TO WOMEN, 19 TO VETERANS, 70 TO START-UP ENTERPRISES, AND 82 TO LOW-INCOME BUSINESSES. ADDITIONALLY, FLAGSHIP ENTERPRISE CENTER PROVIDED 6,276 HOURS OF TECHNICAL ASSISTANCE TO ITS CLIENTS.

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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 $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

Governance

Voting Members

Independent Members

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

Total Directors

Key Employees

Highest Compensated

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