CARTHAGE INDUSTRIAL DEVELOPMENT CORPORATION

EIN: 237044839

CARTHAGE, IL

Total Revenue
$515,515
Total Expenses
$90,916
Total Assets
$1,641,971
Net Assets
$1,374,948
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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
1969
Legal Domicile
IL
Principal Officer
TERESA SMITH
Phone
2173573800
Tax Period
2023-01-01 to 2023-12-31

CARTHAGE INDUSTRIAL DEVELOPMENT CORPORATION, founded in 1969, is a small nonprofit that reported $516K in total revenue in fiscal year 2023. Revenue surged 287% from the prior year, signaling strong growth momentum. The organization ran a surplus of $425K, a strong 82% operating margin.

Mission

ECONOMIC DEVELOPMENT

Program Service Accomplishments

Program 1

CARTHAGE INDUSTRIAL DEVELOPMENT CORPORATION PROVIDES ECONOMIC DEVELOPMENT SERVICES FOR THE CITY OF CARTHAGE, IL. THE CORPORATION EMPLOYS AN ECONOMIC DEVELOPMENT DIRECTOR WHO COORDINATES AND PERFORMS...

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CARTHAGE INDUSTRIAL DEVELOPMENT CORPORATION PROVIDES ECONOMIC DEVELOPMENT SERVICES FOR THE CITY OF CARTHAGE, IL. THE CORPORATION EMPLOYS AN ECONOMIC DEVELOPMENT DIRECTOR WHO COORDINATES AND PERFORMS THE ECONOMIC DEVELOPMENT ACTIVITIES FOR CARTHAGE, IL. THE ECONOMIC DEVELOPMENT DIRECTOR IS A MEMBER OF SEVERAL LOCAL AND REGIONAL ECONOMIC DEVELOPMENT ORGANIZATIONS. SPECIFIC ACCOMPLISHMENTS INCLUDE:CONTINUE TO PAY EXPENSES FOR INFRASTRUCTURE AT INDUSTRIAL PARKBEGAN ENGINEERING STUDY TO SUBDIVIDE LOTS IN THE INDUSTRIAL PARK

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $136,424
Investment Income $379,091
Other Revenue $0
TOTAL REVENUE $515,515

Expense Breakdown

Grants Paid $0
Salaries & Benefits $61,549
Fundraising Expenses $0
Other Expenses $29,367
TOTAL EXPENSES $90,916

Year-over-Year Comparison

2023 2022 Change
Revenue $515,515 $133,301 +2.9%
Expenses $90,916 $88,200 +0.0%
Net Income $424,599 $45,101 +8.4%
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

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Governance

Voting Members
9
Independent Members
9
Employees
1
Volunteers
15

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
4
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRENDA YOUNG Secretary 0.00
Director
$0 $0 $0
MATT DICKINSON Vice President 0.00
Officer Director
$0 $0 $0
SANDY FOLKERTS President 0.00
Officer Director
$0 $0 $0
DAN DION Director 0.00
Officer Director
$0 $0 $0
JIM NIGHTINGALE Director 0.00
Director
$0 $0 $0
RICHARD GAMBRELL Director 0.00
Director
$0 $0 $0
JOHN SCHWARTZ Director 0.00
Director
$0 $0 $0
TERESA SMITH Treasurer 0.00
Officer Director
$0 $0 $0
ROSS WEAR Director 0.00
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
2023 $515,515 $90,916 $1,641,971 $424,599
2022 $133,301 $88,200 $1,219,535 $45,101
2021 $151,054 $137,794 $1,249,281 $13,260
2020 $98,054 $94,050 $1,235,960 $4,004
2019 $113,755 $82,661 $1,276,080 $31,094
2018 $111,284 $88,440 $1,245,271 $22,844
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