GIRARD AREA INDUSTRIAL DEVELOPMENT CORP (EIN 251227432) - 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

1961

Legal Domicile

Principal Officer

DAMON P HOMICH

Phone

8147749339

Tax Period

2024-01-01 to 2024-12-31

GIRARD AREA INDUSTRIAL DEVELOPMENT CORP, founded in 1961, is a small nonprofit in the Community Improvement sector that reported $333K in total revenue in fiscal year 2024. Net assets of $796K represent 29 months of operating reserves.

Mission

ENCOURAGE BUSINESS DEVELOPMENT AND JOBS FOR THE UNEMPLOYED BY PROVIDING LOW COST INDUSTRIAL SPACE.

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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 $24,212

Program Service Revenue $309,143

Investment Income $6

Other Revenue $0

TOTAL REVENUE $333,361

Expense Breakdown

Grants Paid $0

Salaries & Benefits $185,865

Fundraising Expenses $0

Program Expenses $229,550

Other Expenses $179,028

TOTAL EXPENSES $364,893

Year-over-Year Comparison

	2024	2023	Change
Revenue	$333,361	$348,856	0.0%
Expenses	$364,893	$406,338	-0.1%
Net Income	$-31,532	$-57,482	-0.5%

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

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

$73,442

Total Directors

$73,442

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAMON P HOMICH	CHAIRMAN	46.00	Officer Director	$60,070	$13,372	$73,442
DOUGLAS B NAGLE III	SECRETARY/TREASURER	1.00	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	$333,361	$364,893	$821,861	$-31,532
2023	$348,856	$406,338	$867,862	$-57,482
2022	$426,161	$369,932	$918,166	$56,229
2021	$304,608	$364,430	$858,410	$-59,822
2020	$321,610	$342,213	$914,278	$-20,603
2018	$307,372	$429,203	$924,321	$-121,831

GIRARD AREA INDUSTRIAL DEVELOPMENT CORP