PROMOTE GLOVERSVILLE DEVELOPMENT C… - 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

1981

Legal Domicile

Principal Officer

JOYCE ROYAL

Phone

5187250641

Tax Period

2024-01-01 to 2024-12-31

PROMOTE GLOVERSVILLE DEVELOPMENT CORPORATION, founded in 1981, is a micro nonprofit in the Community Improvement sector that reported $14K in total revenue in fiscal year 2024. Revenue surged 84% from the prior year, signaling strong growth momentum. Expenses of $14K left a modest 4% surplus.

Mission

FEDERAL UDAG GRANT LOW INTEREST LOANS TO LOCAL BUSINESSES TO PROMOTE HIRING OF LOCAL WORKERS.

Program Service Accomplishments

Program 1

Expenses: $6,169

FEDERAL UDAG GRANT LOW INTEREST LOANS TO LOCAL BUSINESSES TO PROMOTE HIRING OF LOCAL WORKERS

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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 $0

Program Service Revenue $0

Investment Income $14,242

Other Revenue $0

TOTAL REVENUE $14,242

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $6,169

Other Expenses $13,616

TOTAL EXPENSES $13,616

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,242	$7,755	+0.8%
Expenses	$13,616	$14,797	-0.1%
Net Income	$626	$-7,042	-1.1%

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
SUSAN CASEY	BOARD MEMBER	N/A	Director	$0	$0	$0
TRACEY GREEN	BOARD MEMBER	N/A	Director	$0	$0	$0
JOHN HERLETT	BOARD MEMBER	N/A	Director	$0	$0	$0
RICK RUBY JR	BOARD MEMBER	N/A	Director	$0	$0	$0
MARK KILMER	BOARD MEMBER	N/A	Director	$0	$0	$0
DIANA MARSHALL	BOARD MEMBER	N/A	Director	$0	$0	$0
WALLY HART	SECRETARY/TR	N/A	Officer	$0	$0	$0
JOSEPH LANDER	VICE PRESIDE	N/A	Officer	$0	$0	$0
JOYCE ROYAL	PRESIDENT	N/A	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
2024	$14,242	$13,616	$598,417	$626
2023	$7,755	$14,797	$597,791	$-7,042
2022	$27,162	$13,369	$604,833	$13,793
2021	$10,473	$26,315	$591,040	$-15,842
2020	$11,786	$23,902	$606,882	$-12,116
2019	$14,280	$26,166	$618,998	$-11,886
2018	$10,896	$26,295	$630,884	$-15,399

PROMOTE GLOVERSVILLE DEVELOPMENT CORPORATION