ROCKLAND ECONOMIC DEVELOPMENT CORP (EIN 133097354) - Form 990 Financial Analysis & Trantor Score

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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

1987

Legal Domicile

Phone

8456393210

Tax Period

2019-01-01 to 2019-12-31

ROCKLAND ECONOMIC DEVELOPMENT CORP, founded in 1987, is a small nonprofit that reported $481K in total revenue in fiscal year 2019. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $605K exceeded revenue, resulting in a 26% operating deficit.

Mission

THE MISSION OF THE ROCKLAND ECONOMIC DEVELOPMENT CORPORATION IS TO PROMOTE THE ECONOMY IN ROCKLAND COUNTY BY FOSTERING THE CREATION AND ATTRACTION OF NEW BUSINESS AND THE RETENTION AND EXPANSION OF EXISTING BUSINESSES TO STIMULATE JOB OPPORTUNITIES TO IMPROVE THE QUALITY OF LIFE

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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 (2019)

Revenue Breakdown

Contributions & Grants $439,180

Program Service Revenue $22,608

Investment Income $4,567

Other Revenue $14,625

TOTAL REVENUE $480,980

Expense Breakdown

Grants Paid $0

Salaries & Benefits $388,676

Fundraising Expenses $166,944

Program Expenses $357,224

Other Expenses $216,378

TOTAL EXPENSES $605,054

Year-over-Year Comparison

	2019	2018	Change
Revenue	$480,980	$606,273	-0.2%
Expenses	$605,054	$612,013	0.0%
Net Income	$-124,074	$-5,740	+20.6%

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

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

$63,215

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEREMY L SCHULMAN	President & CEO	40.00	Officer	$63,215	$0	$63,215
JUDITH LISA BACHMAN	Director	1.00	Director	$0	$0	$0
DEBRA BOENING	Director	1.00	Officer Director	$0	$0	$0
SABRINA HOSANG JORDAN	Director	1.00	Director	$0	$0	$0
DR ARTHUR L LERNER-LAM	Director	1.00	Director	$0	$0	$0
MARCELO D REGGIARDO	Director	1.00	Director	$0	$0	$0
RAFAEL ESPAILLAT	Director	1.00	Director	$0	$0	$0
SCOTT GOLDSTEIN	Director	1.00	Director	$0	$0	$0
ERIC DRANOFF	Director	1.00	Director	$0	$0	$0
WILLIAM HELMER	Director	1.00	Director	$0	$0	$0
JONATHAN KUPPERMAN	Director	1.00	Director	$0	$0	$0
MARJORIE LANG	Director	1.00	Director	$0	$0	$0
DR MARY P LEAHY	Director	1.00	Director	$0	$0	$0
MALCOLM G MCLAREN PE	Director	1.00	Director	$0	$0	$0
THOMAS M RAU	Director	1.00	Director	$0	$0	$0
MARIAN ROKEACH	Director	1.00	Director	$0	$0	$0
MARK D ROTHENBERG	Director	1.00	Director	$0	$0	$0
ROBERT E SEAMAN III	Director	1.00	Director	$0	$0	$0
CHRISTINE K WISE-VAZQUEZ	Director	1.00	Director	$0	$0	$0
SR KATHLEEN SULLIVAN OP	Director	1.00	Director	$0	$0	$0
JILL A WARNER	Director	1.00	Director	$0	$0	$0
TONEY EARL	Director	1.00	Director	$0	$0	$0
MICHAEL BASTON	Director	1.00	Director	$0	$0	$0
EDWIN DAY	Director	1.00	Director	$0	$0	$0
JOHN MARAIA	Director	1.00	Director	$0	$0	$0
ROBERT SANCHEZ	Director	1.00	Director	$0	$0	$0
MARY JEAN MARSICO	Director	1.00	Director	$0	$0	$0
MEGHAN TAYLOR	Director	1.00	Director	$0	$0	$0
STEPHEN A COYLE	President	1.00	Officer	$0	$0	$0
JAMES B TULLY	VICE CHAIR/SECR	1.00	Officer	$0	$0	$0
STEVEN M YASSKY	VICE CHAIR	1.00	Officer	$0	$0	$0
QUINTON C VAN WYNEN JR	Treasurer	1.00	Officer	$0	$0	$0
BRUCE W MASON	Director	1.00	Officer	$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
2019	$480,980	$605,054	$894,880	$-124,074
2018	$606,273	$612,013	$1,031,396	$-5,740

ROCKLAND ECONOMIC DEVELOPMENT CORP