CORKTOWN COMMUNITY DEVELOPMENT FUND (EIN 205654069) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Principal Officer

RONALD COOLEY

Phone

3139639891

Tax Period

2024-01-01 to 2024-12-31

CORKTOWN COMMUNITY DEVELOPMENT FUND, founded in 2006, is a micro nonprofit in the Community Improvement sector that reported $39K in total revenue in fiscal year 2024. Revenue decreased 19% compared to the prior year. The organization ran a surplus of $13K, a strong 34% operating margin.

Mission

THE ORGANIZATION'S PURPOSE IS THE REVITALIZATION OF ECONOMICALLY DISTRESSED COMMUNITIES, IN PARTICULAR, THE WESTERN AREA OF DETROIT, MI KNOWN AS CORKTOWN. THE ORGANIZATION WILL PROVIDE LENDING TO ELIGIBLE INDIVIDUALS AND SMALL BUSINESSES AT REDUCED RATES AND AT FLEXIBLE TERMS. IN ADDITION, WE WILL PROVIDE EDUCATION TO THE BORROWER, SUCH AS HOME OWNERSHIP CLASSES, BUSINESS PLAN PREPARATION COURSES AND DEBT ELIMINATION CLASSES IN CONJUNCTION WITH VARIOUS LOCAL ORGANIZATIONS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $38,777

Investment Income $0

Other Revenue $0

TOTAL REVENUE $38,777

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,000

Fundraising Expenses $0

Program Expenses $23,500

Other Expenses $13,691

TOTAL EXPENSES $25,691

Year-over-Year Comparison

	2024	2023	Change
Revenue	$38,777	$48,054	-0.2%
Expenses	$25,691	$28,365	-0.1%
Net Income	$13,086	$19,689	-0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

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

Total Directors

$12,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RONALD COOLEY	TREASURER/SE	10.00	Director	$12,000	$0	$12,000
PHILLIP COOLEY	DIRECTOR	N/A	Director	$0	$0	$0
RYAN COOLEY	PRESIDENT	5.00	Officer	$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	$38,777	$25,691	$2,376,525	$13,086
2023	$48,054	$28,365	$2,363,439	$19,689
2022	$14,310	$56,028	$2,343,750	$-41,718
2021	$402,035	$94,053	$2,385,468	$307,982
2020	$58,110	$51,865	$2,077,486	$6,245
2019	$59,099	$59,858	$2,071,241	$-759
2018	$378,603	$377,969	$2,072,000	$634

CORKTOWN COMMUNITY DEVELOPMENT FUND