ROME INDUSTRIAL DEVELOPMENT CORPORATION (EIN 150618024) - 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

1959

Legal Domicile

Principal Officer

RONALD EDWARDS

Phone

3153380393

Tax Period

2024-01-01 to 2024-12-31

ROME INDUSTRIAL DEVELOPMENT CORPORATION, founded in 1959, is a small nonprofit in the Community Improvement sector that reported $232K in total revenue in fiscal year 2024. Net assets of $2.1M represent 109 months of operating reserves.

Mission

TO ENCOURAGE, STIMULATE, ADVANCE, AND PROMOTE NEW AND EXISTING BUSINESSES IN THE CITY OF ROME, NEW YORK, AREA.

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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 $208,762

Investment Income $23,531

Other Revenue $0

TOTAL REVENUE $232,293

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $202,022

Other Expenses $226,848

TOTAL EXPENSES $226,848

Year-over-Year Comparison

	2024	2023	Change
Revenue	$232,293	$225,305	+0.0%
Expenses	$226,848	$359,316	-0.4%
Net Income	$5,445	$-134,011	-1.0%

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

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	Role	Reportable Comp	Other Comp	Total
RONALD EDWARDS	PRESIDENT	Officer Director	$0	$0	$0
FRANK CARZO	VICE PRESIDENT	Officer Director	$0	$0	$0
DENNIS SURACE	TREASURER	Officer Director	$0	$0	$0
CAROL MANUELE	SECRETARY	Officer Director	$0	$0	$0
ALEX FELICE	DIRECTOR	Director	$0	$0	$0
STEPHEN WATERS	DIRECTOR	Director	$0	$0	$0
TIMOTHY BIRNIE	DIRECTOR	Director	$0	$0	$0
LORI FRIEDEN	DIRECTOR	Director	$0	$0	$0
NICHOLAS ANGELICOLA	DIRECTOR	Director	$0	$0	$0
DREW DEBLASIIS	DIRECTOR	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	$232,293	$226,848	$2,597,407	$5,445
2023	$225,305	$359,316	$2,632,066	$-134,011
2022	$230,852	$299,011	$2,844,307	$-68,159
2021	$219,044	$260,760	$3,214,869	$-41,716
2020	$244,126	$253,570	$3,043,817	$-9,444
2019	$212,303	$252,311	$2,370,520	$-40,008
2018	$186,062	$208,959	$2,410,528	$-22,897

ROME INDUSTRIAL DEVELOPMENT CORPORATION