Economic Development Corporation of Sarasota County (EIN 201133191) - 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

Erin Silk

Phone

9413091200

Tax Period

2023-10-01 to 2024-09-30

Economic Development Corporation of Sarasota County, founded in 2004, is a community nonprofit in the Community Improvement sector that reported $1.5M in total revenue in fiscal year 2023. Expenses of $1.4M left a modest 7% surplus.

Mission

To create and foster economic opportunities in collaboration with community and regional partners to diversify, grow and sustain our economy while enhancing our unique natural and cultural environment.

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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 $1,467,947

Program Service Revenue $0

Investment Income $17,896

Other Revenue $43,468

TOTAL REVENUE $1,529,311

Expense Breakdown

Grants Paid $0

Salaries & Benefits $859,789

Fundraising Expenses $0

Other Expenses $564,042

TOTAL EXPENSES $1,423,831

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,529,311	$1,429,822	+0.1%
Expenses	$1,423,831	$1,419,814	+0.0%
Net Income	$105,480	$10,008	+9.5%

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

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

$138,387

Total Directors

$138,387

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Erin Silk	President/CEO	40.00	Officer Director	$122,145	$16,242	$138,387
Joshua Ewen	Vice President, Economic Development	40.00	Highest	$104,850	$11,256	$116,106
Devaney Iglesias	Chair	6.00	Officer Director	$0	$0	$0
Brett Henson	Vice Chair	6.00	Officer Director	$0	$0	$0
Steve Morehart	Treasurer	6.00	Officer Director	$0	$0	$0
Erin Cigich	Secretary	6.00	Officer Director	$0	$0	$0
Mark Irwin	Past Chair	6.00	Officer Director	$0	$0	$0
Michael Crosby	Director	2.00	Director	$0	$0	$0
Charles Murphy	Director	2.00	Director	$0	$0	$0
Todd Fritch	Director	2.00	Director	$0	$0	$0
Phillip Lanham	Director	2.00	Director	$0	$0	$0
Karen Holbrook	Director	2.00	Director	$0	$0	$0
Chris Perkins	Director	2.00	Director	$0	$0	$0
Art Lambert	Director	2.00	Director	$0	$0	$0
Joseph McKenna	Director	2.00	Director	$0	$0	$0
Tyler McCallister	Director	2.00	Director	$0	$0	$0
Charles Murphy	Director	2.00	Director	$0	$0	$0
Scott Sensenbrenner	Director	2.00	Director	$0	$0	$0
Rick Severance	Director	2.00	Director	$0	$0	$0
Garrett Shinn	Director	2.00	Director	$0	$0	$0
Heather Williams	Director	2.00	Director	$0	$0	$0
Erik Arroyo	Director	2.00	Director	$0	$0	$0
Ron Cutsinger	Director	2.00	Director	$0	$0	$0
Rick Howard	Director	2.00	Director	$0	$0	$0
Penny Gold	Director	2.00	Director	$0	$0	$0
Barbara Langdon	Director	2.00	Director	$0	$0	$0
Eric Kowalewski	Director	2.00	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
2025	No data	No data	No data	No data
2024	$1,529,311	$1,423,831	$1,028,310	$105,480
2023	$1,429,822	$1,419,814	$960,710	$10,008
2022	$1,469,712	$1,384,300	$858,365	$85,412
2021	$1,438,382	$1,380,874	$748,872	$57,508
2020	$1,556,556	$1,520,481	$667,045	$36,075
2019	$1,600,782	$1,585,569	$731,287	$15,213
2018	$1,654,259	$1,608,967	$737,031	$45,292

Economic Development Corporation of Sarasota County