Lawrence County Economic Development Corp (EIN 256028031) - 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

1955

Legal Domicile

Principal Officer

Eric Karmecy

Tax Period

2023-01-01 to 2023-12-31

Lawrence County Economic Development Corp, founded in 1955, is a community nonprofit that reported $4.1M in total revenue in fiscal year 2023. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.4M, a strong 83% operating margin.

Mission

To transform lives by serving as a creative force that promotes excellence in leadership, coordination, and orderly business 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 $216,144

Program Service Revenue $35,600

Investment Income $37,763

Other Revenue $3,766,895

TOTAL REVENUE $4,056,402

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $542,229

Other Expenses $671,398

TOTAL EXPENSES $671,398

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,056,402	$3,062,181	+0.3%
Expenses	$671,398	$2,643,599	-0.7%
Net Income	$3,385,004	$418,582	+7.1%

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

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
Lisa Nentwick	Board Member	1.00	Director	$0	$0	$0
Loretta Spielvogel	Board Member	1.00	Director	$0	$0	$0
Jon Natale	Board Member	1.00	Director	$0	$0	$0
Justin Bruce	Board Member	1.00	Director	$0	$0	$0
Tom Giordano	Board Member	1.00	Director	$0	$0	$0
Zachary Lenhart	Board Member	1.00	Director	$0	$0	$0
Mark Tomaszewski	Board Member	1.00	Director	$0	$0	$0
Stephen Vitale	Board Member	1.00	Director	$0	$0	$0
John Cournan	Board Member	1.00	Director	$0	$0	$0
Ethan Russell	Board Member	1.00	Director	$0	$0	$0
Stephen Sant	Board Member	1.00	Director	$0	$0	$0
Jonathan Bruce	Board Member	1.00	Director	$0	$0	$0
Kathy Richardson	Board Member	1.00	Director	$0	$0	$0
Frank Moses	Board Member	1.00	Director	$0	$0	$0
Judy Shaffer	Secretary	2.00	Officer Director	$0	$0	$0
Craig Bicehouse	Vice President	2.00	Officer Director	$0	$0	$0
Eric Karmecy	President	2.00	Officer Director	$0	$0	$0
Sam Huston	Treasurer	2.00	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	No data	No data	No data	No data
2023	$4,056,402	$671,398	$12,133,077	$3,385,004
2022	$3,062,181	$2,643,599	$8,868,040	$418,582
2021	$659,859	$817,422	$6,466,455	$-157,563
2020	$610,008	$614,674	$6,714,425	$-4,666
2019	$669,552	$688,704	$6,914,636	$-19,152
2018	$871,332	$634,847	$7,142,160	$236,485

Lawrence County Economic Development Corp