GOWANDA AREA REDEVELOPMENT CORPORATION (EIN 222315925) - 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

1978

Legal Domicile

Principal Officer

MIKE HUTCHINSON

Tax Period

2024-02-01 to 2025-01-31

GOWANDA AREA REDEVELOPMENT CORPORATION, founded in 1978, is a micro nonprofit that reported $3K in total revenue in fiscal year 2024. Revenue fell 93% from the prior year — a significant decline worth monitoring. Expenses of $56K exceeded revenue, resulting in a 2086% operating deficit.

Mission

TO IMPROVE THE ECONOMIC, SOCIAL, AND EDUCATIONAL LEVELS OF THE RESIDENTS IN THE GOWANDA AREA BY EXPANDING THE ECONOMIC AND EDUCATIONAL OPPORTUNITIES FOR THE BENEFIT OF THE RESIDENTS IN THE AREA.

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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 $0

Investment Income $379

Other Revenue $2,175

TOTAL REVENUE $2,554

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $55,371

Other Expenses $55,841

TOTAL EXPENSES $55,841

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,554	$37,563	-0.9%
Expenses	$55,841	$58,462	0.0%
Net Income	$-53,287	$-20,899	+1.5%

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

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SEAN CHRISTOPHER	BOARD MEMBER	2.00	Director	$0	$0	$0
ROBERT GAYLORD	TREASURER	5.00	Officer Director	$0	$0	$0
JENNIFER GERNATT	BOARD MEMBER	2.00	Director	$0	$0	$0
MIKE HUTCHINSON	PRESIDENT	10.00	Officer Director	$0	$0	$0
WANDA KOCH	BOARD MEMBER	2.00	Director	$0	$0	$0
JAY ONDUS	VICE PRESIDE	5.00	Officer Director	$0	$0	$0
MARK TROUTMAN	BOARD MEMBER	2.00	Director	$0	$0	$0
JOHN WALGUS	SECRETARY	5.00	Officer Director	$0	$0	$0
ERICH WEYAND	BOARD MEMBER	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	$2,554	$55,841	$701,645	$-53,287
2024	$37,563	$58,462	$765,220	$-20,899
2023	$138	$55,791	$786,119	$-55,653
2022	$18,640	$75,420	$841,772	$-56,780
2021	$92	$56,603	$878,152	$-56,511
2020	$215	$61,314	$934,663	$-61,099
2019	$190	$71,914	$995,762	$-71,724

GOWANDA AREA REDEVELOPMENT CORPORATION