CHAUTAUQUA REGION ECONOMIC DEVELOP… - Form 990 Financial Data

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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

1972

Legal Domicile

Principal Officer

RICHARD DIXON

Phone

7166618903

Tax Period

2023-01-01 to 2023-12-31

CHAUTAUQUA REGION ECONOMIC DEVELOPMENT CORPORATION, founded in 1972, is a community nonprofit in the Community Improvement sector that reported $1.5M in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum. Expenses of $1.4M left a modest 8% surplus.

Mission

TO PROVIDE ECONOMIC OPPORTUNITY.

Program Service Accomplishments

Program 1

Expenses: $1,337,960 Revenue: $0

THE PRIMARY PURPOSE OF THE CHAUTAUQUA REGION ECONOMIC DEVELOPMENT CORPORATION IS TO RELIEVE AND REDUCE UNEMPLOYEMNT, MAINTAIN JOB OPPORTUNITIES, PROVIDE JOB TRAINING TO INDIVIDUALS, AND CARRY ON...

THE PRIMARY PURPOSE OF THE CHAUTAUQUA REGION ECONOMIC DEVELOPMENT CORPORATION IS TO RELIEVE AND REDUCE UNEMPLOYEMNT, MAINTAIN JOB OPPORTUNITIES, PROVIDE JOB TRAINING TO INDIVIDUALS, AND CARRY ON SCIENTIFIC RESEARCH FOR THE PURPOSE OF AIDING A COMMUNITY BY ATTRACTING NEW INDUSTRY TO THE 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 $1,432,960

Program Service Revenue $0

Investment Income $15,949

Other Revenue $87,000

TOTAL REVENUE $1,535,909

Expense Breakdown

Grants Paid $334,467

Salaries & Benefits $281,189

Fundraising Expenses $0

Program Expenses $1,337,960

Other Expenses $804,260

TOTAL EXPENSES $1,419,916

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,535,909	$1,117,127	+0.4%
Expenses	$1,419,916	$828,421	+0.7%
Net Income	$115,993	$288,706	-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

N/A

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

$261,609

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMY HARDING	DIRECTOR	0.80	Director	$0	$0	$0
BRAD WALTERS	VICE CHAIRMAN	0.80	Director	$0	$0	$0
TOM HARMON	DIRECTOR	0.80	Director	$0	$0	$0
SAGAN SHEFFIELD-SMITH	TREASURER	1.00	Officer Director	$0	$0	$0
DAN HEITZENRATER	SECRETARY	0.80	Officer Director	$0	$0	$0
GARY HENRY	CHAIRMAN	1.00	Officer Director	$0	$0	$0
KEVIN MULDOWNEY	DIRECTOR	0.80	Officer Director	$0	$0	$0
DAN DEMARTE	DIRECTOR	0.80	Director	$0	$0	$0
MARK GEISE	CEO	5.00	Officer	$0	$0	$63,441
RICHARD DIXON	CFO	1.00	Officer	$0	$8,593	$198,168

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	$1,535,909	$1,419,916	$2,394,838	$115,993
2022	$1,117,127	$828,421	$2,162,431	$288,706
2021	$301,591	$369,501	$898,684	$-67,910
2020	$222,490	$420,722	$578,494	$-198,232
2019	$1,092,005	$1,103,110	$1,233,549	$-11,105
2018	$1,715,461	$1,548,712	$1,308,469	$166,749

CHAUTAUQUA REGION ECONOMIC DEVELOPMENT CORPORATION