HORNELL INDUSTRIAL DEVELOPMENT CORPORATION (EIN 161191210) - 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

1962

Legal Domicile

Principal Officer

MICHAEL L NISBET

Phone

6073240310

Tax Period

2023-01-01 to 2023-12-31

HORNELL INDUSTRIAL DEVELOPMENT CORPORATION, founded in 1962, is a micro nonprofit in the Community Improvement sector that reported $73 in total revenue in fiscal year 2023. Revenue fell 95% from the prior year — a significant decline worth monitoring. Expenses of $19K exceeded revenue, resulting in a 25990% operating deficit.

Mission

THE HORNELL INDUSTRIAL DEVELOPMENT CORPORATION WAS FORMED FOR THE PURPOSE OF ENCOURAGING FINANCIALLY SOUND COMPANIES TO ESTABLISH THEMSELVES AND PROSPER IN THE HORNELL, 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $73

Other Revenue $0

TOTAL REVENUE $73

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $14,582

Other Expenses $19,046

TOTAL EXPENSES $19,046

Year-over-Year Comparison

	2023	2022	Change
Revenue	$73	$1,543	-1.0%
Expenses	$19,046	$9,830	+0.9%
Net Income	$-18,973	$-8,287	+1.3%

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
DAVID PARMLEY	BOARD CHAIRMAN	1.00	Officer Director	$0	$0	$0
ED FLAITZ	CFO, TREASURER	1.00	Officer Director	$0	$0	$0
JOHN CARBONE	SECRETARY	1.00	Officer Director	$0	$0	$0
JOHN BUCKLEY	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
RICHARD ANDOLINA JR	BOARD MEMBER	1.00	Officer Director	$0	$0	$0
MICHAEL L NISBET	CEO	2.00	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
2024	No data	No data	No data	No data
2023	$73	$19,046	$346,425	$-18,973
2022	$1,543	$9,830	$365,398	$-8,287
2021	$2,157	$23,624	$373,685	$-21,467
2020	$251,556	$45,540	$395,152	$206,016

HORNELL INDUSTRIAL DEVELOPMENT CORPORATION