MICHIGAN CITY ECONOMIC DEVELOPMENT CORP

EIN: 237258115

MICHIGAN CITY, IN

Total Revenue
$789,987
Total Expenses
$630,525
Total Assets
$1,103,873
Net Assets
$873,634
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
IN
Principal Officer
CLARENCE HULSE
Tax Period
2023-01-01 to 2023-12-31

MICHIGAN CITY ECONOMIC DEVELOPMENT CORP, founded in 1972, is a small nonprofit that reported $790K in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. The organization ran a surplus of $159K, a strong 20% operating margin.

Mission

ECONOMIC DEVELOPMENT / JOB CREATION

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Sign In — Free (10 views/day)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $486,230
Program Service Revenue $298,259
Investment Income $5,498
Other Revenue $0
TOTAL REVENUE $789,987

Expense Breakdown

Grants Paid $0
Salaries & Benefits $272,410
Fundraising Expenses $0
Program Expenses $393,785
Other Expenses $358,115
TOTAL EXPENSES $630,525

Year-over-Year Comparison

2023 2022 Change
Revenue $789,987 $681,054 +0.2%
Expenses $630,525 $601,623 +0.0%
Net Income $159,462 $79,431 +1.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

Governance

Voting Members
15
Independent Members
15
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
4
$123,500
Total Directors
15
$0
Key Employees
1
$123,500
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CLARENCE HULSE EXCUTIVE DIRECTOR 40.00
Officer Key Emp
$123,500 $0 $123,500
DEAN MAZZONI BOARD MEMBER 5.00
Director
$0 $0 $0
DALIA ZYGAS BOARD MEMBER 5.00
Director
$0 $0 $0
SCOTT NEWCOMB BOARD MEMBER 5.00
Director
$0 $0 $0
DUANE PARRY BOARD MEMBER 5.00
Director
$0 $0 $0
JESSICA BAILEY BOARD MEMBER 5.00
Director
$0 $0 $0
STEPHANIE OBERLIE BOARD MEMBER 5.00
Director
$0 $0 $0
DON BABCOCK BOARD MEMBER 5.00
Director
$0 $0 $0
BARBARA EASON-WATKINS BOARD MEMBER 5.00
Director
$0 $0 $0
BRENDA TEMPLE SECRETARY 5.00
Director
$0 $0 $0
LINDA SIMMONS PAST CHAIR 5.00
Director
$0 $0 $0
DENISE CONLON BOARD MEMBER 5.00
Director
$0 $0 $0
KATIE EATON BOARD MEMBER 5.00
Director
$0 $0 $0
BILL HACKNEY CHAIRPERSON 10.00
Officer Director
$0 $0 $0
SETH SPENCER VICE CHAIR 5.00
Officer Director
$0 $0 $0
STEVE KRING TREASURER 5.00
Officer 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 $789,987 $630,525 $1,103,873 $159,462
2022 $681,054 $601,623 $731,086 $79,431
2021 $490,972 $505,153 $658,772 $-14,181
2020 $466,701 $387,562 $642,755 $79,139
Explore More Nonprofits
→Top 100 Nonprofits in Indiana →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare MICHIGAN CITY ECONOMIC DEVELOPMENT CORP with other nonprofits in Indiana and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.