CLARION COUNTY ECONOMIC DEVELOPMENT CORPORATION (EIN 251237688) - 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

WILLIAM HENRY

Phone

8142269045

Tax Period

2023-01-01 to 2023-12-31

CLARION COUNTY ECONOMIC DEVELOPMENT CORPORATION, founded in 1972, is a small nonprofit in the Community Improvement sector that reported $658K in total revenue in fiscal year 2023. Revenue surged 260% from the prior year, signaling strong growth momentum. The organization ran a surplus of $127K, a strong 19% operating margin.

Mission

THE CORPORATION FOSTERS ECONOMIC GROWTH IN CLARION COUNTY, PENNSYLVANIA BY PROMOTING THE COUNTY AS BOTH A HUB FOR BUSINESS DEVELOPMENT AND A PRIME TOURISM DESTINATION. CCEDC'S PROGRAMS ARE DESIGNED TO BOOST THE LOCAL ECONOMY WHILE ENHANCING THE QUALITY OF LIFE FOR BUSINESSES, RESIDENTS, AND VISITORS. CORE FUNCTIONS INCLUDE BUSINESS SUPPORT, STRATEGIC PLANNING, TOURISM MARKETING, COMMUNITY REDEVELOPMENT, INDUSTRIAL PARK DEVELOPMENT AND MAINTENANCE, GRANT AND LOAN ADMINISTRATION, INFRASTRUCTURE EXPANSION, AND WORKFORCE AND EDUCATION DEVELOPMENT.

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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 $609,460

Program Service Revenue $16,674

Investment Income $14,555

Other Revenue $17,537

TOTAL REVENUE $658,226

Expense Breakdown

Grants Paid $0

Salaries & Benefits $98,255

Fundraising Expenses $0

Program Expenses $502,922

Other Expenses $433,224

TOTAL EXPENSES $531,479

Year-over-Year Comparison

	2023	2022	Change
Revenue	$658,226	$182,602	+2.6%
Expenses	$531,479	$231,171	+1.3%
Net Income	$126,747	$-48,569	-3.6%

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHELSEA ALEXANDER	DIRECTOR	N/A	Director	$0	$0	$0
STEVEN DAVIS	DIRECTOR	N/A	Director	$0	$0	$0
RYAN FLICK	DIRECTOR	N/A	Director	$0	$0	$0
MICHAEL FORNOF	DIRECTOR	N/A	Director	$0	$0	$0
JOSH LESNIAK	DIRECTOR	N/A	Director	$0	$0	$0
MARY LOUISE LOGUE	DIRECTOR	N/A	Director	$0	$0	$0
LAURA PROSSER	DIRECTOR	N/A	Director	$0	$0	$0
TED THARAN	DIRECTOR	N/A	Director	$0	$0	$0
JUANICE VEGA	DIRECTOR	N/A	Director	$0	$0	$0
TRACI WILDESON	DIRECTOR	N/A	Director	$0	$0	$0
MILISSA BAUER	SECRETARY/TR	N/A	Officer	$0	$0	$0
JASON L HANSFORD	VICE PRESIDE	N/A	Officer	$0	$0	$0
WILLIAM HENRY	PRESIDENT	N/A	Officer	$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	$658,226	$531,479	$2,035,527	$126,747
2022	$182,602	$231,171	$1,963,651	$-48,569
2021	$48,810	$271,167	$1,917,682	$-222,357
2020	$224,234	$248,700	$2,247,969	$-24,466
2019	$94,396	$182,226	$2,274,685	$-87,830
2018	$111,807	$164,652	$2,378,215	$-52,845

CLARION COUNTY ECONOMIC DEVELOPMENT CORPORATION