PUTNAM COUNTY ECONOMIC DEVELOPMENT… - 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

1997

Legal Domicile

Principal Officer

KATHLEEN D ABELS

Phone

8458081021

Tax Period

2024-01-01 to 2024-12-31

PUTNAM COUNTY ECONOMIC DEVELOPMENT CORPORATION, founded in 1997, is a small nonprofit that reported $184K in total revenue in fiscal year 2024. The organization ran a surplus of $44K, a strong 24% operating margin.

Mission

COUNTY-BASED ECONOMIC DEVELOPMENT CORPORATION

Program Service Accomplishments

Program 1

Expenses: $111,889

MAINTAINED AND INCREASED ECONOMIC DEVELOPMENT OF THE BUSINESS COMMUNITY THROUGH WEBSITE INFORMATION, PHONE REFERRALS TO GOVERNMENT AND PRIVATE RESOURCES THAT ARE AVAILABLE TO ASSIST PRESENT AND...

MAINTAINED AND INCREASED ECONOMIC DEVELOPMENT OF THE BUSINESS COMMUNITY THROUGH WEBSITE INFORMATION, PHONE REFERRALS TO GOVERNMENT AND PRIVATE RESOURCES THAT ARE AVAILABLE TO ASSIST PRESENT AND POTENTIAL LOCAL BUSINESS. CREATED A FREE COUNTY-WIDE INFORMATIONAL AND REFERENCE RELATED WEBSITE SO AS TO BE A ONE STOP SHOP FOR COMPANIES RELOCATING TO, OR EXPANDING IN, PUTNAM COUNTY.

Program 2

Expenses: $1,415

MARKETING CAMPAIGN TO PROMOTE BUSINESS DEVELOPMENT IN PUTNAM 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 $174,780

Program Service Revenue $0

Investment Income $198

Other Revenue $9,245

TOTAL REVENUE $184,223

Expense Breakdown

Grants Paid $0

Salaries & Benefits $109,599

Fundraising Expenses $0

Program Expenses $113,304

Other Expenses $30,837

TOTAL EXPENSES $140,436

Year-over-Year Comparison

	2024	2023	Change
Revenue	$184,223	$175,782	+0.0%
Expenses	$140,436	$138,399	+0.0%
Net Income	$43,787	$37,383	+0.2%

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

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

$95,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALANA D MIKHALEVSKY	CHAIRMAN	0.50	Officer Director	$0	$0	$0
DON MINICHINO	VICE CHAIRMAN	0.50	Officer Director	$0	$0	$0
RICHARD WEISS CPA	TREASURER	0.50	Officer Director	$0	$0	$0
WALTER RECHER	SECRETARY	0.50	Officer Director	$0	$0	$0
ROBERT ZUBRYCKI	DIRECTOR	0.50	Director	$0	$0	$0
MARJORIE KEITH	DIRECTOR	0.50	Director	$0	$0	$0
DR MARK HIRKO	DIRECTOR	0.50	Director	$0	$0	$0
CHRISTOPHER RYDER	DIRECTOR	0.50	Director	$0	$0	$0
KIMBALL GELL	DIRECTOR	0.50	Director	$0	$0	$0
DYLAN MIYOSHI	DIRECTOR	0.50	Director	$0	$0	$0
WILLIAM DUNKEL	DIRECTOR	0.50	Director	$0	$0	$0
KERRIE MEHALAKES	DIRECTOR	0.50	Director	$0	$0	$0
KATHLEEN D ABELS	PRESIDENT	30.00	Officer	$95,000	$0	$95,000

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
2025	No data	No data	No data	No data
2024	$184,223	$140,436	$425,834	$43,787
2023	$175,782	$138,399	$382,153	$37,383
2022	$169,005	$130,783	$344,894	$38,222
2021	$160,414	$128,897	$306,641	$31,517
2020	$180,403	$119,965	$279,508	$60,438
2019	$184,541	$74,739	$222,744	$109,802
2018	$199,112	$207,554	$132,181	$-8,442

PUTNAM COUNTY ECONOMIC DEVELOPMENT CORPORATION