CANANDAIGUA AREA DEVELOPMENT CORPORATION (EIN 160901648) - 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

2011

Legal Domicile

Principal Officer

FRANK H HAMLIN III

Phone

5854198606

Tax Period

2023-11-01 to 2024-10-31

CANANDAIGUA AREA DEVELOPMENT CORPORATION, founded in 2011, is a small nonprofit in the Community Improvement sector that reported $227K in total revenue in fiscal year 2023. Revenue fell 62% from the prior year — a significant decline worth monitoring. Expenses of $1.3M exceeded revenue, resulting in a 461% operating deficit.

Mission

TO PURSUE PROJECTS THAT IMPROVE THE ECONOMIC HEALTH OF THE CANANDAIGUA AREA BY EXPANDING THE TAX BASE AND CREATING NEW EMPLOYMENT OPPORTUNITIES.

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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 $225,000

Program Service Revenue $0

Investment Income $2,007

Other Revenue $0

TOTAL REVENUE $227,007

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,255,407

Other Expenses $1,274,539

TOTAL EXPENSES $1,274,539

Year-over-Year Comparison

	2023	2022	Change
Revenue	$227,007	$601,818	-0.6%
Expenses	$1,274,539	$1,256,275	+0.0%
Net Income	$-1,047,532	$-654,457	+0.6%

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
GEOFREY ASTLES	TREASURER	2.00	Officer Director	$0	$0	$0
FRANK H HAMLIN III	PRESIDENT	2.00	Officer Director	$0	$0	$0
BRIAN MAHONEY	SECRETARY	2.00	Officer 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	$227,007	$1,274,539	$17,779,467	$-1,047,532
2023	$601,818	$1,256,275	$17,613,662	$-654,457
2023	$1,818	$1,296,675	$17,613,662	$-1,294,857
2022	$510,975	$1,246,948	$17,054,782	$-735,973
2021	$1,202,701	$1,206,277	$16,322,858	$-3,576
2020	$1,385,795	$1,373,047	$15,133,737	$12,748
2019	$1,425,675	$1,434,789	$19,991,820	$-9,114
2018	$1,310,685	$1,326,360	$17,090,828	$-15,675

CANANDAIGUA AREA DEVELOPMENT CORPORATION