THE ECONOMIC DEVELOPMENT GROUP INC (EIN 223781639) - 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

2000

Legal Domicile

Principal Officer

STEPHEN TUCKER

Phone

7164363229

Tax Period

2024-07-01 to 2025-06-30

THE ECONOMIC DEVELOPMENT GROUP INC, founded in 2000, is a community nonprofit in the Recreation & Sports sector that reported $7.8M in total revenue in fiscal year 2024. Revenue surged 38% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.1M, a strong 26% operating margin.

Mission

THE MISSION OF NORTHLAND IS TO ADVANCE THE ECONOMIC WELL-BEING OF WESTERN NEW YORK BY DEVELOPING AND MAINTAINING A SKILLED AND DIVERSE WORKFORCE TO MEET THE NEEDS OF THE ADVANCED MANUFACTURING AND ENERGY SECTORS, WHILE PROVIDING OPPORTUNITIES TO JOB SEEKERS AS WELL AS PATHWAYS TO GAINFUL EMPLOYMENT, CAREER ADVANCEMENT AND ECONOMIC SUSTAINABILITY.

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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 $6,759,263

Program Service Revenue $476,897

Investment Income $0

Other Revenue $549,294

TOTAL REVENUE $7,785,454

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,825,500

Fundraising Expenses $10,500

Program Expenses $4,313,710

Other Expenses $2,902,273

TOTAL EXPENSES $5,727,773

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,785,454	$5,648,772	+0.4%
Expenses	$5,727,773	$5,072,422	+0.1%
Net Income	$2,057,681	$576,350	+2.6%

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

$589,315

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE FINCH	VICE CHAIR	1.00	Officer Director	$0	$0	$0
RANDI MURPHY	DIRECTOR	1.00	Director	$0	$0	$0
NINA HEARD	DIRECTOR	1.00	Director	$0	$0	$0
MARJORIE BRYEN	DIRECTOR	1.00	Director	$0	$0	$0
KRISTIN M RE	TREASURER	1.00	Officer Director	$0	$0	$0
KEN KUJAWA	DIRECTOR	1.00	Director	$0	$0	$0
DEVALE JACKSON	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS BEAUFORD JR	DIRECTOR	1.00	Director	$0	$0	$0
DENNIS ELSENBECK	CHAIR	1.00	Officer Director	$0	$0	$0
DEACON STEVE SCHUMER	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS SANSONE	DIRECTOR	1.00	Director	$0	$0	$0
BENJAMIN RAND	SECRETARY	1.00	Officer Director	$0	$0	$0
DR WILL KERESZTES	DIRECTOR	1.00	Director	$0	$0	$0
JOE KESSLER	DIRECTOR	1.00	Director	$0	$0	$0
ASANTEWA HOLLEY	VP OF OPERATIONS	50.00	Officer	$108,087	$9,751	$117,838
CAROLYN STORMS-STOLTMAN	VP OF ENROLLMENT AND ORGAN	50.00	Officer	$112,208	$17,138	$129,346
STEPHEN TUCKER	PRESIDENT & CEO	50.00	Officer	$315,301	$26,830	$342,131

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	$7,785,454	$5,727,773	$6,941,704	$2,057,681
2024	$5,648,772	$5,072,422	$5,420,359	$576,350
2023	$4,857,078	$4,454,753	$3,686,267	$402,325
2022	$4,652,433	$3,694,919	$3,328,124	$957,514
2021	$2,116,902	$3,096,692	$1,886,039	$-979,790
2020	$4,998,045	$3,402,318	$2,791,255	$1,595,727
2019	$3,428,873	$2,927,980	$1,497,977	$500,893

THE ECONOMIC DEVELOPMENT GROUP INC