SOUTH SHORE ECONOMIC DEVELOPMENT CORP (EIN 237362584) - 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

1951

Legal Domicile

Principal Officer

TIMOTHY CAHILL

Phone

6174791111

Tax Period

2024-01-01 to 2024-12-31

SOUTH SHORE ECONOMIC DEVELOPMENT CORP, founded in 1951, is a small nonprofit that reported $274K in total revenue in fiscal year 2024. Revenue fell 33% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $50K, a strong 18% operating margin.

Mission

TO PROMOTE ECONOMIC DEVELOPMENT IN THE GREATER SOUTH SHORE OF MASSACHUSETTS.

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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 $244,500

Program Service Revenue $11,924

Investment Income $17,129

Other Revenue $0

TOTAL REVENUE $273,553

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $40,065

Program Expenses $162,784

Other Expenses $223,825

TOTAL EXPENSES $223,825

Year-over-Year Comparison

	2024	2023	Change
Revenue	$273,553	$410,918	-0.3%
Expenses	$223,825	$419,642	-0.5%
Net Income	$49,728	$-8,724	-6.7%

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

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

$191,421

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PETER TEDESCHI	CHAIRMAN	1.00	Officer Director	$0	$0	$0
DAVID ELLIS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JACQUELINE COLLINS	CLERK/SECRETARY	1.00	Officer Director	$0	$0	$0
VICTORIA MAGUIRE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JUDY BARRETT	TRUSTEE	1.00	Director	$0	$0	$0
JILL BERESFORD	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL BOSCO	TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH CARROLL	TRUSTEE	1.00	Director	$0	$0	$0
GABE CROCKER	TRUSTEE	1.00	Director	$0	$0	$0
BRYAN GREGORY	TRUSTEE	1.00	Director	$0	$0	$0
DENVER GIBBS	TRUSTEE	1.00	Director	$0	$0	$0
DEAN HILDRETH	TRUSTEE	1.00	Director	$0	$0	$0
DARLENE HOLLYWOOD	TRUSTEE	1.00	Director	$0	$0	$0
JOHN IREDALE	TRUSTEE	1.00	Director	$0	$0	$0
TIMOTHY KELLEHER	TRUSTEE	1.00	Director	$0	$0	$0
NICHOLE LANGLEY	TRUSTEE	1.00	Director	$0	$0	$0
PATRICE MAY	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN MURPHY	TRUSTEE	1.00	Director	$0	$0	$0
DAVID NICHOLS	TRUSTEE	1.00	Director	$0	$0	$0
SUSAN O'DAY	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL RUH	TRUSTEE	1.00	Director	$0	$0	$0
WINTHROP SARGENT JR	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT TERRAVECCHIA JR	TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH YOTTS	TRUSTEE	1.00	Director	$0	$0	$0
PETER FORMAN	PRESIDENT & TREASURER	15.00	Officer	$0	$7,108	$191,421
JULIE WILLIAMS	CHAMBER VICE PRESIDENT	0.00	Highest	$0	$30,346	$136,866
JILL DONOVAN	CHAMBER DIRECTOR OF DEVELOPMENT	20.00	Highest	$0	$30,325	$131,308

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	$273,553	$223,825	$240,535	$49,728
2023	$410,918	$419,642	$176,302	$-8,724
2022	$178,133	$162,021	$167,761	$16,112
2021	$419,145	$394,322	$214,863	$24,823
2020	$215,038	$201,171	$203,362	$13,867
2019	$81,623	$139,271	$131,285	$-57,648
2018	$16,347	$10,505	$190,708	$5,842

SOUTH SHORE ECONOMIC DEVELOPMENT CORP