BANGOR TARGET AREA DEVELOPMENT CORP (EIN 237307277) - 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

1972

Legal Domicile

Principal Officer

STEVE BOLDUC

Phone

2079075099

Tax Period

2024-01-01 to 2024-12-31

BANGOR TARGET AREA DEVELOPMENT CORP, founded in 1972, is a small nonprofit that reported $325K in total revenue in fiscal year 2024. Net assets of $1.4M represent 51 months of operating reserves.

Mission

PROMOTING INDUSTRY IN BANGOR

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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 $0

Program Service Revenue $301,078

Investment Income $23,611

Other Revenue $0

TOTAL REVENUE $324,689

Expense Breakdown

Grants Paid $0

Salaries & Benefits $47,838

Fundraising Expenses $0

Program Expenses $324,124

Other Expenses $308,122

TOTAL EXPENSES $355,960

Year-over-Year Comparison

	2024	2023	Change
Revenue	$324,689	$326,106	0.0%
Expenses	$355,960	$318,749	+0.1%
Net Income	$-31,271	$7,357	-5.3%

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

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

$44,219

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EVAN RICHERT	DIRECTOR	1.00	Director	$0	$0	$0
JAKE WARD	DIRECTOR	1.00	Director	$0	$0	$0
TYLER COLLINS	DIRECTOR	1.00	Director	$0	$0	$0
EJ ROACH	DIRECTOR	1.00	Director	$0	$0	$0
STEVE BOLDUC	PRESIDENT	2.00	Officer Director	$0	$0	$0
MITCH STONE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
SUSAN MACKAY	DIRECTOR	1.00	Director	$0	$0	$0
SNO BARRY	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER MORIN	DIRECTOR	1.00	Director	$0	$0	$0
MIKE PULLEN	DIRECTOR	1.00	Director	$0	$0	$0
KRITI TRAFTON	DIRECTOR	1.00	Director	$0	$0	$0
RODNEY MCKAY	EXECUTIVE DIRECTOR	20.00	Officer	$44,219	$0	$44,219

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	$324,689	$355,960	$1,629,291	$-31,271
2023	$326,106	$318,749	$1,667,460	$7,357
2022	$290,646	$343,424	$1,647,470	$-52,778
2021	$271,826	$354,707	$1,773,949	$-82,881
2020	$248,485	$325,546	$1,845,999	$-77,061
2019	$280,037	$319,525	$1,913,164	$-39,488
2018	$912,610	$317,893	$1,947,593	$594,717

BANGOR TARGET AREA DEVELOPMENT CORP