COLUMBIA ECONOMIC DEVELOPMENT CORP

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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

1992

Legal Domicile

Principal Officer

F MICHAEL TUCKER

Phone

5188284718

Tax Period

2024-01-01 to 2024-12-31

COLUMBIA ECONOMIC DEVELOPMENT CORP, founded in 1992, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum.

Mission

COLUMBIA ECONOMIC DEVELOPMENT CORPORATION IS THE LEAD ECONOMIC DEVELOPMENT ORGANIZATION FOR COLUMBIA COUNTY, NEW YORK. OUR MISSION IS TO STRENGTHEN THE AREA'S TAX BASE THROUGH ECONOMIC DEVELOPMENT AND JOB CREATION, TO ASSIST BUSINESSES TO LOCATE AND EXPAND WITHIN THE COUNTY, AND TO PROMOTE COLUMBIA COUNTY AS A PREMIERE SPOT FOR BOTH BUSINESS INVESTMENT AND PERSONAL OPPORTUNITY.

Program Service Accomplishments

Program 1

Expenses: $1,076,087 Revenue: $120,431

DURING THE YEAR, $925,525 WAS LENT TO VARIOUS LOCAL BUSINESSES OFFSET BY $643,521 OF LOAN REPAYMENTS. PROGRAM EXPENSES INCLUDED PAYROLL EXPENSES FOR EMPLOYEES WORKING ON PROMOTING THE CORPORATION'S MISSION AND MEETING PROGRAM EXPECTATIONS, WHILE OTHER EXPENSES INCLUDED OFFICE AND MARKETING AND CONSULTING EXPENSES RELATED TO RUNNING THE PROGRAM.

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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 $1,343,924

Program Service Revenue $120,431

Investment Income $36,980

Other Revenue $43,195

TOTAL REVENUE $1,544,530

Expense Breakdown

Grants Paid $403,038

Salaries & Benefits $540,245

Fundraising Expenses $0

Program Expenses $1,076,087

Other Expenses $568,127

TOTAL EXPENSES $1,511,410

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,544,530	$1,181,402	+0.3%
Expenses	$1,511,410	$1,165,398	+0.3%
Net Income	$33,120	$16,004	+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

Volunteers

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

$155,833

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES CALVIN	CHAIRMAN	5.00	Officer Director	$0	$0	$0
TARAH GAY	VICE CHAIR	0.25	Officer Director	$0	$0	$0
MICHAEL MOLINSKI	SECRETARY	0.25	Officer Director	$0	$0	$0
BRYAN MAHONEY	TREASURER	0.25	Officer Director	$0	$0	$0
RICHARD CUMMINGS	DIRECTOR	0.25	Director	$0	$0	$0
JUSTIN GOLDMAN	DIRECTOR	0.25	Director	$0	$0	$0
CARLEE RADER DRUMMER	EX-OFFICIO MEMBER	0.25	Director	$0	$0	$0
DEREK GROUT	DIRECTOR	0.25	Director	$0	$0	$0
CHRISTINE HINZ	DIRECTOR	0.25	Director	$0	$0	$0
MICHAEL JOHNSTON	DIRECTOR	0.25	Director	$0	$0	$0
AMANDA KARCH	EX-OFFICIO MEMBER	0.25	Director	$0	$0	$0
KENNETH LEGGETT	DIRECTOR	0.25	Director	$0	$0	$0
RYAN SKODA	EX-OFFICIO MEMBER	0.25	Director	$0	$0	$0
RACHEL LEVINE	DIRECTOR	0.25	Director	$0	$0	$0
CHRISTIAN LOPEZ	DIRECTOR	0.25	Director	$0	$0	$0
RICHARD NESBITT	DIRECTOR	0.25	Director	$0	$0	$0
RACHEL PUCKETT	DIRECTOR	0.25	Director	$0	$0	$0
SEAN SAWYER	DIRECTOR	0.25	Director	$0	$0	$0
CARMINE PIERRO	EX-OFFICIO MEMBER	0.25	Director	$0	$0	$0
RUTH ADAMS	FORMER DIRECTOR	0.25	Director	$0	$0	$0
DAVID FINGAR	FORMER DIRECTOR	0.25	Director	$0	$0	$0
SARAH STERLING	FORMER DIRECTOR	0.25	Director	$0	$0	$0
CHRISTOPHER NARDONE	FORMER EX-OFFICIO	0.25	Director	$0	$0	$0
RICK SCALERA	FORMER DIRECTOR	0.25	Director	$0	$0	$0
F MICHAEL TUCKER	PRESIDENT & CEO	30.00	Officer	$155,833	$0	$155,833

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	$1,544,530	$1,511,410	$5,416,497	$33,120
2023	$1,181,402	$1,165,398	$4,825,253	$16,004
2022	$1,131,840	$1,149,573	$4,476,822	$-17,733
2021	$877,012	$841,851	$3,735,623	$35,161
2020	$893,546	$1,170,862	$3,599,960	$-277,316
2019	$788,476	$787,881	$3,533,165	$595
2018	$1,146,639	$754,748	$3,637,230	$391,891