GREEN KNIGHT ECONOMIC DEVELOPMENT CORP (EIN 233005840) - 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

1999

Legal Domicile

Principal Officer

Peter Albanese

Phone

6108635898

Tax Period

2023-01-01 to 2023-12-31

GREEN KNIGHT ECONOMIC DEVELOPMENT CORP, founded in 1999, is a community nonprofit in the Community Improvement sector that reported $2.4M in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $710K, a strong 30% operating margin.

Mission

Providing economic relief for poor & distressed local citizens

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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 $142,435

Program Service Revenue $2,023,098

Investment Income $166,116

Other Revenue $68,488

TOTAL REVENUE $2,400,137

Expense Breakdown

Grants Paid $121,500

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,690,102

Other Expenses $1,568,602

TOTAL EXPENSES $1,690,102

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,400,137	$3,668,403	-0.3%
Expenses	$1,690,102	$1,180,726	+0.4%
Net Income	$710,035	$2,487,677	-0.7%

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

N/A

Independent Members

N/A

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Robert E Cornman Jr	President	20.00	Officer	$0	$0	$0
Peter R Albanese	Treasurer	20.00	Officer	$0	$0	$0
Larry Feller	Secretary	20.00	Officer	$0	$0	$0
John Goffredo	Vice President	15.00	Director	$0	$0	$0
James Policeli	Director	15.00	Director	$0	$0	$0
James Nico Goffredo	Director	15.00	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
2024	No data	No data	No data	No data
2023	$2,400,137	$1,690,102	$11,806,370	$710,035
2023	$2,517,932	$1,693,779	$11,806,370	$824,153
2022	$3,668,403	$1,180,726	$11,085,506	$2,487,677
2021	$1,965,096	$1,211,021	$9,422,640	$754,075
2020	$2,649,189	$1,957,009	$8,399,575	$692,180
2019	$1,645,591	$1,058,904	$8,729,854	$586,687

GREEN KNIGHT ECONOMIC DEVELOPMENT CORP