HARRISON COUNTY ECONOMIC DEVELOPMENT CORPORATION (EIN 201076473) - 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

2004

Legal Domicile

Principal Officer

David Lett

Phone

8127388241

Tax Period

2024-01-01 to 2024-12-31

HARRISON COUNTY ECONOMIC DEVELOPMENT CORPORATION, founded in 2004, is a small nonprofit in the Community Improvement sector that reported $737K in total revenue in fiscal year 2024. Revenue surged 66% from the prior year, signaling strong growth momentum. The organization ran a surplus of $324K, a strong 44% operating margin.

Mission

The Corporation is a public private partnership that works to build a better economic future in Harrison County through effective planning, education, and the growth of quality employers.

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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 $400,000

Investment Income $158,524

Other Revenue $178,181

TOTAL REVENUE $736,705

Expense Breakdown

Grants Paid $0

Salaries & Benefits $130,129

Fundraising Expenses $0

Program Expenses $327,945

Other Expenses $282,664

TOTAL EXPENSES $412,793

Year-over-Year Comparison

	2024	2023	Change
Revenue	$736,705	$444,242	+0.7%
Expenses	$412,793	$303,527	+0.4%
Net Income	$323,912	$140,715	+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

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

$109,180

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Darrell Voelker	Executive Director	40	Key Emp	$109,180	$0	$109,180
David Lett	President	5	Director	$0	$0	$0
Donnie Hussung	Vice President	3	Director	$0	$0	$0
Rusty Crosier	Board Member	2	Director	$0	$0	$0
Holli Castetter	Board Member	2	Director	$0	$0	$0
Daniel Shireman	Treasurer	3	Director	$0	$0	$0
Nelson Stepro	Board Member	2	Director	$0	$0	$0
David Sanders	Board Member	2	Director	$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	$736,705	$412,793	$9,295,195	$323,912
2023	$444,242	$303,527	$9,249,691	$140,715
2022	$319,608	$341,284	$9,355,725	$-21,676
2021	$286,335	$384,197	$9,453,420	$-97,862
2020	$524,545	$353,826	$10,261,566	$170,719

HARRISON COUNTY ECONOMIC DEVELOPMENT CORPORATION