EASTERN AMERICAN ECONOMIC DEVELOPMENT CORPORATION (EIN 204647454) - 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

2005

Legal Domicile

Principal Officer

KWON H JUNG

Phone

2015850136

Tax Period

2024-01-01 to 2024-12-31

EASTERN AMERICAN ECONOMIC DEVELOPMENT CORPORATION, founded in 2005, is a small nonprofit in the Community Improvement sector that reported $407K in total revenue in fiscal year 2024. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $560K exceeded revenue, resulting in a 38% operating deficit.

Mission

THE SPECIFIC PURPOSE OF THIS CORPORATION SHALL BE TO FOSTER ECONOMIC DEVELOPMENT, CREATE OR PRESERVE JOB AND EDUCATION OPPORTUNITIES, TRAIN, STIMULATE GROWTH, EXPANSION AND MODERNIZATIN OF SMALL BUSINESSES.

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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 $382,727

Investment Income $15,625

Other Revenue $8,304

TOTAL REVENUE $406,656

Expense Breakdown

Grants Paid $0

Salaries & Benefits $175,793

Fundraising Expenses $0

Program Expenses $485,223

Other Expenses $384,044

TOTAL EXPENSES $559,837

Year-over-Year Comparison

	2024	2023	Change
Revenue	$406,656	$770,896	-0.5%
Expenses	$559,837	$938,005	-0.4%
Net Income	$-153,181	$-167,109	-0.1%

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

$98,670

Total Directors

$98,670

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KWON H JUNG	PRESIDENT	40.00	Officer Director	$98,670	$0	$98,670
ALEXANDER KANGSEOK CHOI	DIRECTOR/SEC	N/A	Officer Director	$0	$0	$0
KEN GILHO CHOI	DIRECTOR	N/A	Director	$0	$0	$0
CHARLES PARK	DIRECTOR	N/A	Director	$0	$0	$0
SOO JIN JUNG	DIRECTOR	N/A	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	$406,656	$559,837	$1,145,222	$-153,181
2023	$1,262,705	$827,896	$1,568,675	$434,809
2022	$2,131,175	$540,696	$1,895,199	$1,590,479
2021	$557,713	$541,074	$363,839	$16,639
2020	$696,478	$258,860	$366,971	$437,618
2019	$576,493	$332,076	$608,631	$244,417
2018	$544,054	$498,236	$239,584	$45,818

EASTERN AMERICAN ECONOMIC DEVELOPMENT CORPORATION