SOUTHERN TIER REGION ECONOMIC DEVELOPMENT CORPORATION (EIN 161483269) - 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

1991

Legal Domicile

Principal Officer

GEORGE MINER

Phone

6079623021

Tax Period

2024-01-01 to 2024-12-31

SOUTHERN TIER REGION ECONOMIC DEVELOPMENT CORPORATION, founded in 1991, is a small nonprofit that reported $209K in total revenue in fiscal year 2024. Revenue fell 77% from the prior year — a significant decline worth monitoring. Expenses of $343K exceeded revenue, resulting in a 64% operating deficit.

Mission

TO PROMOTE INDUSTRIAL DEVELOPMENT AND ECONOMIC PROSPERITY IN BROOME COUNTY, CHEMUNG COUNTY, CHENANGO COUNTY, DELAWARE COUNTY, SCHUYLER COUNTY, STEUBEN COUNTY, TIOGA COUNTY, AND TOMPKINS 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $209,036

Investment Income $438

Other Revenue $0

TOTAL REVENUE $209,474

Expense Breakdown

Grants Paid $1,584

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $341,047

TOTAL EXPENSES $342,631

Year-over-Year Comparison

	2024	2023	Change
Revenue	$209,474	$894,303	-0.8%
Expenses	$342,631	$900,437	-0.6%
Net Income	$-133,157	$-6,134	+20.7%

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

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

$150,135

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GLENN NEALIS	DIRECTOR	1.00	Director	$0	$0	$0
HEATHER MCDANIEL	TREASURER	1.00	Officer Director	$0	$0	$0
JAMIE JOHNSON	CHAIR	1.00	Officer Director	$0	$0	$0
JOE ROMAN	DIRECTOR	1.00	Director	$0	$0	$0
JUDY MCKINNEY CHERRY	DIRECTOR	1.00	Director	$0	$0	$0
LEEANN TINNEY	PRESIDENT (PART YEAR)	1.00	Officer Director	$0	$0	$0
SALVATORE TESTANI	DIRECTOR	1.00	Director	$0	$0	$0
STACEY DUNCAN	DIRECTOR	1.00	Director	$0	$0	$0
BRITTANY WOODBURN	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE MINER	SECRETARY	14.00	Officer	$0	$3,482	$77,115
BRYANT MYERS	SECRETARY (PART YEAR)	14.00	Officer	$0	$4,268	$73,020

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	$209,474	$342,631	$14,281,038	$-133,157
2023	$894,303	$900,437	$14,460,442	$-6,134
2022	$173,909	$-21,418	$14,531,130	$195,327
2021	$875,788	$392,785	$14,339,659	$483,003
2020	$360,862	$75,473	$14,456,208	$285,389
2019	$484,182	$229,201	$14,263,794	$254,981
2018	$1,304,405	$728,311	$14,739,406	$576,094

SOUTHERN TIER REGION ECONOMIC DEVELOPMENT CORPORATION