REGIONAL ECONOMIC DEVELOPMENT AND ENERGY CORPORATION (EIN 222332050) - 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

1980

Legal Domicile

Principal Officer

GEORGE E MINER

Phone

6079623021

Tax Period

2023-10-01 to 2024-09-30

REGIONAL ECONOMIC DEVELOPMENT AND ENERGY CORPORATION, founded in 1980, is a micro nonprofit in the Community Improvement sector that reported $60K in total revenue in fiscal year 2023. Revenue fell 57% from the prior year — a significant decline worth monitoring. Expenses of $88K exceeded revenue, resulting in a 47% operating deficit.

Mission

TO PROVIDE ECONOMIC DEVELOPMENT LENDING CAPABILITY FOR BUSINESSES IN CHEMUNG, SCHUYLER AND STEUBEN COUNTIES, WHICH FULLY RESPONDS TO THE NEEDS OF THE REGION AND THE OBJECTIVES OF THE CORPORATION.

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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 $0

Program Service Revenue $59,915

Investment Income $135

Other Revenue $0

TOTAL REVENUE $60,050

Expense Breakdown

Grants Paid $0

Salaries & Benefits $16,629

Fundraising Expenses $0

Program Expenses $88,102

Other Expenses $71,473

TOTAL EXPENSES $88,102

Year-over-Year Comparison

	2023	2022	Change
Revenue	$60,050	$139,542	-0.6%
Expenses	$88,102	$42,700	+1.1%
Net Income	$-28,052	$96,842	-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

$162,667

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN WARNER	CHAIR	0.50	Officer Director	$0	$0	$0
CHELSEA ROBERTSON	DIRECTOR	0.50	Director	$0	$0	$0
CHRISTOPHER BREWER	DIRECTOR	0.50	Director	$0	$0	$0
CHRISTOPHER COLETTA	TREASURER	0.50	Officer Director	$0	$0	$0
CHRISTOPHER GIAMMICHELE	DIRECTOR	0.50	Director	$0	$0	$0
SUSAN MONROE	DIRECTOR	0.50	Director	$0	$0	$0
JAMIE JOHNSON	DIRECTOR	0.50	Director	$0	$0	$0
JENNIFER MILLER	DIRECTOR	0.50	Director	$0	$0	$0
JILL KOSKI	VICE-CHAIR	0.50	Officer Director	$0	$0	$0
JOSEPH ROMAN	DIRECTOR	0.50	Director	$0	$0	$0
JUDY MCKINNEY CHERRY	DIRECTOR	0.50	Director	$0	$0	$0
JULIE CHEVALIER	DIRECTOR	0.50	Director	$0	$0	$0
KELSEY KNOWLES	DIRECTOR	0.50	Director	$0	$0	$0
KAMALA KEELEY	SECRETARY	0.50	Officer Director	$0	$0	$0
MICHAEL J MANZARI	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL NISBET	DIRECTOR	0.50	Director	$0	$0	$0
MIKE MCCUMISKEY	DIRECTOR	0.50	Director	$0	$0	$0
KEVIN DOUGHERTY	DIRECTOR	0.50	Director	$0	$0	$0
ASHLEIGH MADISON	DIRECTOR	0.50	Director	$0	$0	$0
TODD STRONG	DIRECTOR	0.50	Director	$0	$0	$0
GRACE DALTON	DIRECTOR	0.50	Director	$0	$0	$0
GEORGE MINER	PRESIDENT	7.00	Officer	$97,475	$9,490	$106,965
BRYANT MYERS	PRESIDENT	7.00	Officer	$55,702	$0	$55,702

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	$60,050	$88,102	$2,388,103	$-28,052
2023	$139,542	$42,700	$2,228,032	$96,842
2022	$92,142	$154,471	$2,213,381	$-62,329
2021	$778,102	$62,074	$2,380,425	$716,028
2020	$415,646	$122,566	$1,853,161	$293,080
2019	$121,855	$19,559	$1,180,787	$102,296
2018	$54,118	$122,316	$1,086,868	$-68,198

REGIONAL ECONOMIC DEVELOPMENT AND ENERGY CORPORATION