MARTINSVILLE-HENRY COUNTY ECONOMIC DEVELOPMENT CORP (EIN 113843016) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2008

Legal Domicile

Principal Officer

MARK HEATH

Phone

2764035940

Tax Period

2023-07-01 to 2024-06-30

MARTINSVILLE-HENRY COUNTY ECONOMIC DEVELOPMENT CORP, founded in 2008, is a community nonprofit in the Community Improvement sector that reported $3.1M in total revenue in fiscal year 2020.

Mission

TO EXPAND THE TAX BASE AND PROVIDE JOBS FOR THE MARTINSVILLE/HENRY COUNTY BY ENCOURAGING EXPANSION OF LOCAL BUSINESSES AND INDUSTRIES AND BY RECRUITING NEW BUSINESSES TO LOCATE.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,841,964

Program Service Revenue $2,000

Investment Income $113,712

Other Revenue $0

TOTAL REVENUE $1,957,676

Expense Breakdown

Grants Paid $265,500

Salaries & Benefits $995,898

Fundraising Expenses $67,365

Program Expenses $1,985,573

Other Expenses $884,388

TOTAL EXPENSES $2,145,786

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,957,676	$1,915,977	+0.0%
Expenses	$2,145,786	$2,165,563	0.0%
Net Income	$-188,110	$-249,586	-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

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

$321,029

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK HEATH	President & CEO	40.00	Officer	$268,654	$52,375	$321,029
RHONDA HODGES	Director	2.00	Director	$0	$0	$0
ARETHA FERRELL-BENAVIDES	Director	2.00	Director	$0	$0	$0
GRACIE AGNEW	Secretary	2.00	Officer Director	$0	$0	$0
DAVID STONE	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
AMY LAMPE	Treasurer	2.00	Officer Director	$0	$0	$0
JAMES McCLAIN	Chairman	2.00	Officer Director	$0	$0	$0
DALE WAGONER	Director	2.00	Director	$0	$0	$0
REV CHARLES WHITFIELD	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	No data	No data	No data	No data
2024	$1,957,676	$2,145,786	$6,423,914	$-188,110
2023	$1,915,977	$2,165,563	$5,994,808	$-249,586
2022	$2,331,961	$2,543,940	$5,581,528	$-211,979
2021	$3,066,760	$3,196,054	$6,979,147	$-129,294

MARTINSVILLE-HENRY COUNTY ECONOMIC DEVELOPMENT CORP