Binghampton Development Corporation

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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

2003

Legal Domicile

Principal Officer

DAndrea Franklin

Phone

9013470504

Tax Period

2024-07-01 to 2025-06-30

Binghampton Development Corporation, founded in 2003, is a community nonprofit in the Community Improvement sector that reported $1.6M in total revenue in fiscal year 2024. Revenue fell 33% from the prior year — a significant decline worth monitoring. Expenses of $2.2M exceeded revenue, resulting in a 36% operating deficit.

Mission

Build a healthy community by supporting the revitalization of the Binghampton neighborhood of Memphis, Tennessee, through housing and economic development.

Program Service Accomplishments

Program 1

Expenses: $2,028,296 Revenue: $638,886

To improve the quality of life in the Binghampton community.

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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 $491,831

Program Service Revenue $1,188,723

Investment Income $15,432

Other Revenue $-60,929

TOTAL REVENUE $1,635,057

Expense Breakdown

Grants Paid $0

Salaries & Benefits $920,564

Fundraising Expenses $24,917

Program Expenses $2,028,296

Other Expenses $1,299,383

TOTAL EXPENSES $2,219,947

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,635,057	$2,455,011	-0.3%
Expenses	$2,219,947	$2,392,352	-0.1%
Net Income	$-584,890	$62,659	-10.3%

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

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

$118,410

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Phil Mischke	Chairman	3.00	Director	$0	$0	$0
Robert Montague	President	3.00	Officer Director	$0	$0	$0
Brian Crenshaw	Secretary	3.00	Director	$0	$0	$0
Stephen W Bowie	Treasurer	3.00	Director	$0	$0	$0
Tom Marino	Board Member	1.00	Director	$0	$0	$0
Jeanita Davis	Board Member	1.00	Director	$0	$0	$0
Margaret Gilliland	Board Member	1.00	Director	$0	$0	$0
Shun Abram	Board Member	1.00	Director	$0	$0	$0
Chad Wilgenbusch	Board Member	1.00	Director	$0	$0	$0
DAndrea Franklin	Executive Director	40.00	Director	$118,410	$0	$118,410

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	$1,635,057	$2,219,947	$14,663,877	$-584,890
2024	$2,455,011	$2,392,352	$14,652,408	$62,659
2023	$2,160,012	$1,882,878	$14,559,936	$277,134
2022	$3,329,941	$1,661,473	$13,924,793	$1,668,468
2022	$3,260,992	$1,677,678	$13,890,431	$1,583,314
2021	$1,404,895	$1,411,883	$12,365,463	$-6,988
2020	$2,082,337	$2,030,316	$12,823,562	$52,021
2019	$2,106,823	$1,625,251	$12,746,409	$481,572
2018	$1,812,221	$1,676,950	$12,690,291	$135,271