FRANKLIN COUNTY ECONOMIC DEVELOPMENT CORPORATION (EIN 141763507) - 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

1995

Legal Domicile

Principal Officer

JEREMY EVANS

Phone

5184839472

Tax Period

2023-01-01 to 2023-12-31

FRANKLIN COUNTY ECONOMIC DEVELOPMENT CORPORATION, founded in 1995, is a small nonprofit in the Community Improvement sector that reported $657K in total revenue in fiscal year 2023. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $771K exceeded revenue, resulting in a 17% operating deficit.

Mission

THE EDC IS COMMITTED TO SERVING NEW AND EXISTING BUSINESSES AND INDUSTRIES, AND TO ASSIST WITH THE CREATION AND RETENTION OF QUALITY JOBS THROUGH DIRECT AND COLLABORATIVE FUNDING OF PROJECTS FOR THE ECONOMIC WELL BEING OF FRANKLIN COUNTY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $444,178

Program Service Revenue $173,595

Investment Income $39,160

Other Revenue $25

TOTAL REVENUE $656,958

Expense Breakdown

Grants Paid $360,807

Salaries & Benefits $190,870

Fundraising Expenses $0

Program Expenses $729,312

Other Expenses $219,683

TOTAL EXPENSES $771,360

Year-over-Year Comparison

	2023	2022	Change
Revenue	$656,958	$888,839	-0.3%
Expenses	$771,360	$1,321,109	-0.4%
Net Income	$-114,402	$-432,270	-0.7%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES ELLIS	CHAIRMAN	1.00	Officer Director	$0	$0	$0
SHERRY BOYEA	VICE CHAIR	1.00	Officer Director	$0	$0	$0
ARCHIE MCKEE	TREASURER	1.00	Officer Director	$0	$0	$0
MADELYN FLEURY	SECRETARY	1.00	Director	$0	$0	$0
STEPHEN ERMAN	ASSISTANT SE	1.00	Officer Director	$0	$0	$0
DANIEL MILLS	MEMBER	1.00	Director	$0	$0	$0
NATE MONETTE	MEMBER	1.00	Director	$0	$0	$0
JEREMY EVANS	CEO	20.00	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$656,958	$771,360	$2,550,163	$-114,402
2022	$888,839	$1,321,109	$2,712,658	$-432,270
2021	$376,410	$898,708	$3,825,928	$-522,298
2020	$732,965	$688,371	$3,548,800	$44,594
2019	$520,566	$421,052	$3,526,750	$99,514
2018	$207,609	$39,034	$3,555,059	$168,575

FRANKLIN COUNTY ECONOMIC DEVELOPMENT CORPORATION