PIKE COUNTY ECONOMIC DEVELOPMENT CORPORATION

EIN: 134216019 Community Improvement

TROY, AL

Total Revenue
$469,860
Total Expenses
$541,734
Total Assets
$1,102,050
Net Assets
$704,699
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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
2002
Legal Domicile
AL
Principal Officer
TED CLEM
Phone
3346702274
Tax Period
2024-01-01 to 2024-12-31

PIKE COUNTY ECONOMIC DEVELOPMENT CORPORATION, founded in 2002, is a small nonprofit in the Community Improvement sector that reported $470K in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $542K exceeded revenue, resulting in a 15% operating deficit.

Mission

TO PROMOTE ECONOMIC DEVELOPMENT WITHIN PIKE COUNTY

Program Service Accomplishments

Program 1

PROMOTE ECONOMIC DEVELOPMENT IN PIKE COUNTY BY PROVIDING SMALL BUSINESSES WITH FACILITIES THROUGH THE INCUBATOR FACILITY AND DEVELOPMENT AND RECRUITING OF INDUSTRY.

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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 $419,036
Program Service Revenue $37,544
Investment Income $13,280
Other Revenue $0
TOTAL REVENUE $469,860

Expense Breakdown

Grants Paid $0
Salaries & Benefits $262,825
Fundraising Expenses $0
Other Expenses $278,909
TOTAL EXPENSES $541,734

Year-over-Year Comparison

2024 2023 Change
Revenue $469,860 $433,050 +0.1%
Expenses $541,734 $460,535 +0.2%
Net Income $-71,874 $-27,485 +1.6%
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

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Governance

Voting Members
10
Independent Members
10
Employees
2
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
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHASE COBB PRESIDENT 40.00
$174,187 $0 $174,187
JOHN RAMAGE CHAIRMAN N/A
Officer Director
$0 $0 $0
VICKI MCPHERSON VICE CHAIRMA N/A
Officer Director
$0 $0 $0
DONNA HORN SECRETARY N/A
Officer Director
$0 $0 $0
DENNY SANFORD TREASURER N/A
Officer Director
$0 $0 $0
KENNY CAMPBELL BOARD MEMBER N/A
Director
$0 $0 $0
CORNELIUS GRIFFIN BOARD MEMBER N/A
Director
$0 $0 $0
ADAM CARSON BOARD MEMBER N/A
Director
$0 $0 $0
JEFF KERVIN BOARD MEMBER N/A
Director
$0 $0 $0
DAVID BAILEY BOARD MEMBER N/A
Director
$0 $0 $0
JUDSON EDWARDS BOARD MEMBER N/A
Director
$0 $0 $0
TED CLEM PRESIDENT 40.00
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
2024 $469,860 $541,734 $1,102,050 $-71,874
2023 $433,050 $460,535 $1,206,147 $-27,485
2022 $382,974 $395,047 $1,265,158 $-12,073
2021 $367,542 $379,780 $1,295,428 $-12,238
2020 $398,714 $312,536 $1,348,347 $86,178
2019 $375,409 $356,508 $1,309,822 $18,901
2018 $372,814 $357,738 $1,335,260 $15,076
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