FOSTORIA ECONOMIC DEVELOPMENT CORP (EIN 237313309) - 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

1982

Principal Officer

TOM REINEKE

Tax Period

2023-01-01 to 2023-12-31

FOSTORIA ECONOMIC DEVELOPMENT CORP, founded in 1982, is a small nonprofit that reported $443K in total revenue in fiscal year 2023. Revenue surged 50% from the prior year, signaling strong growth momentum. Expenses of $399K left a modest 10% surplus.

Mission

ATTRACTING NEW BUSINESS ENTERPRISES.

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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 $330,169

Program Service Revenue $110,982

Investment Income $1,070

Other Revenue $1,081

TOTAL REVENUE $443,302

Expense Breakdown

Grants Paid $0

Salaries & Benefits $350,554

Fundraising Expenses $0

Program Expenses $368,091

Other Expenses $48,930

TOTAL EXPENSES $399,484

Year-over-Year Comparison

	2023	2022	Change
Revenue	$443,302	$294,702	+0.5%
Expenses	$399,484	$360,028	+0.1%
Net Income	$43,818	$-65,326	-1.7%

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

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

Total Directors

Key Employees

$185,500

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RENEE SMITH	PRESIDENT	N/A	Key Emp	$185,500	$0	$185,500
MARK BAKER	AT LARGE	N/A	Director	$0	$0	$0
TOM BORER	SECRETARY	N/A	Officer Director	$0	$0	$0
RONALD L BURNS	TREASURER	N/A	Officer Director	$0	$0	$0
LEONARD CLOUSE	AT LARGE	N/A	Director	$0	$0	$0
ERIC KECKLER	AT LARGE	N/A	Director	$0	$0	$0
DON MENNEL	CITY COUNCIL	N/A	Director	$0	$0	$0
FORD MENNEL	IMM PAST CHA	N/A	Director	$0	$0	$0
BRIDGETT MUNDY	AT LARGE	N/A	Director	$0	$0	$0
BROOK PIPER	AT LARGE	N/A	Director	$0	$0	$0
TOM REINEKE	CHAIRMAN	N/A	Officer Director	$0	$0	$0
JOHN SCHULD	VICE-CHAIR	N/A	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	$443,302	$399,484	$306,392	$43,818
2022	$294,702	$360,028	$259,506	$-65,326
2021	$256,572	$253,651	$335,981	$2,921
2020	$262,649	$261,818	$330,414	$831
2019	$288,871	$273,197	$208,550	$15,674
2018	$221,512	$218,919	$189,546	$2,593

FOSTORIA ECONOMIC DEVELOPMENT CORP