FRANKLIN SOUTHAMPTON ECONOMIC DEVE… - Form 990 Financial Data

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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

KARL HECK

Phone

7575621958

Tax Period

2024-07-01 to 2025-06-30

FRANKLIN SOUTHAMPTON ECONOMIC DEVELOPMENT INC, founded in 2005, is a small nonprofit in the Community Improvement sector that reported $438K in total revenue in fiscal year 2024. Expenses of $552K exceeded revenue, resulting in a 26% operating deficit.

Mission

47TO DIVERSIFY THE ECONOMY, CREATE HIGH QUALITY JOBS, AND PROVIDE A FUTURE FOR THE FAMILIES AND YOUTH OF FRANKLIN AND SOUTHAMPTON COUNTY.

Program Service Accomplishments

Program 1

Expenses: $470,444

ACTIVITES TO PROMOTE THE ECONOMIC VITALITY OF FRANKLIN AND SOUTHAMPTON COUNTY INCLUDING:MARKET THE COMMUNITY'S ASSETS TO ATTACT NEW BUSINESSES WITH CAPITAL INVESTMENT AND OPPORTUNITIES FOR JOB...

ACTIVITES TO PROMOTE THE ECONOMIC VITALITY OF FRANKLIN AND SOUTHAMPTON COUNTY INCLUDING:MARKET THE COMMUNITY'S ASSETS TO ATTACT NEW BUSINESSES WITH CAPITAL INVESTMENT AND OPPORTUNITIES FOR JOB CREATION, INCLUDING COORDINATING LOCAL AND STATE INCENTIVE PROGRAMS. PROVIDE TECHINCAL TRAINING AND ASSITANCE TO EXISTING BUSINESSES, INCLUDING OPERATION OF THE FRANKLIN BUSINESS CENTER. DEVELOP PROGRAMS TO FOSTER SMALL BUSINESS GROWTH AND ENTREPRENEURSHIP. CREATE AN ATMOSPHERE TO FOSTER TOURISM THAT WILL TAKE ADVANTAGE OF THE COMMUNITY'S EXISTING NATURAL AND HISTORIC ASSETS.

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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 $398,750

Program Service Revenue $0

Investment Income $39,136

Other Revenue $250

TOTAL REVENUE $438,136

Expense Breakdown

Grants Paid $0

Salaries & Benefits $292,252

Fundraising Expenses $0

Program Expenses $470,444

Other Expenses $259,471

TOTAL EXPENSES $551,723

Year-over-Year Comparison

	2024	2023	Change
Revenue	$438,136	$449,138	0.0%
Expenses	$551,723	$495,513	+0.1%
Net Income	$-113,587	$-46,375	+1.4%

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

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

$99,910

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARSHALL RABIL	TREASURER	1.00	Officer Director	$0	$0	$0
MEGHAN COUNCILL	CHAIRMAN	1.00	Officer Director	$0	$0	$0
ROBERT POPE	SECRETARY	1.00	Director	$0	$0	$0
BRIAN HEDGEPETH	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
WILL HOLT	DIRECTOR	1.00	Director	$0	$0	$0
KARL HECK	PRESIDENT	40.00	Officer	$97,000	$2,910	$99,910

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	$438,136	$551,723	$1,093,648	$-113,587
2024	$449,138	$495,513	$1,197,978	$-46,375
2023	$388,962	$450,990	$1,240,197	$-62,028
2022	$406,765	$478,456	$1,287,926	$-71,691
2021	$703,357	$596,732	$1,359,596	$106,625
2019	$446,275	$475,499	$1,406,337	$-29,224

FRANKLIN SOUTHAMPTON ECONOMIC DEVELOPMENT INC