Pawtucket Business Development Corp

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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

Principal Officer

John Connors

Tax Period

2022-07-01 to 2023-06-30

Pawtucket Business Development Corp is a small nonprofit that reported $180K in total revenue in fiscal year 2022. Revenue surged 751% from the prior year, signaling strong growth momentum. Expenses of $258K exceeded revenue, resulting in a 43% operating deficit.

Mission

The Corporation fosters economic growth in Pawtucket through gap loan financing to promote employment creation and retention.

Program Service Accomplishments

Program 1

Expenses: $113,568 Revenue: $11,270

As of June 30, 2023 the Corporation managed 27 commercial "gap financing" loans which enabled the borrows to create low to moderate jobs.

Program 2

Expenses: $144,102

The Corporation issued grants to small businesses located in Pawtucket for the purpose of improving or replacing HVAC systems.

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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 $169,102

Program Service Revenue $10,846

Investment Income $424

Other Revenue $0

TOTAL REVENUE $180,372

Expense Breakdown

Grants Paid $144,102

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $257,670

Other Expenses $113,568

TOTAL EXPENSES $257,670

Year-over-Year Comparison

	2022	2021	Change
Revenue	$180,372	$21,191	+7.5%
Expenses	$257,670	$49,954	+4.2%
Net Income	$-77,298	$-28,763	+1.7%

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

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
Matthew Carvalho	Director	1.00	Director	$0	$0	$0
Richard Sugerman	Director	1.00	Officer Director	$0	$0	$0
John Neary	Treasurer	1.00	Officer Director	$0	$0	$0
Isaac Amponsah	Director	1.00	Director	$0	$0	$0
John Connors	President	1.00	Director	$0	$0	$0
Jennifer Hennigan	Secretary	1.00	Officer Director	$0	$0	$0
Scott Rotondo	Vice President	1.00	Director	$0	$0	$0
Richard Goldstein	Director	1.00	Director	$0	$0	$0
Jan Brodie	Director	1.00	Officer Director	$0	$0	$0
Michael Bettencourt	Director	1.00	Director	$0	$0	$0
Alecia Richards	Director	1.00	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$180,372	$257,670	$586,640	$-77,298
2022	$21,191	$49,954	$639,946	$-28,763
2021	$83,006	$21,367	$691,674	$61,639
2020	$235,575	$56,575	$663,802	$179,000