Corry Area Industrial Development Corp (EIN 256061724) - 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

1959

Legal Domicile

Principal Officer

David Sample

Phone

8146643884

Tax Period

2024-03-01 to 2025-02-28

Corry Area Industrial Development Corp, founded in 1959, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2024. Revenue fell 36% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.2M, a strong 44% operating margin.

Mission

To provide economic growth to the Corry Area of Northwestern Pennsylvania.

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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 $37,500

Program Service Revenue $2,482,604

Investment Income $96,857

Other Revenue $0

TOTAL REVENUE $2,616,961

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,385,551

Other Expenses $1,465,015

TOTAL EXPENSES $1,465,015

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,616,961	$4,094,525	-0.4%
Expenses	$1,465,015	$1,376,366	+0.1%
Net Income	$1,151,946	$2,718,159	-0.6%

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

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
Dave Dearborn	Secretary	2.00	Officer Director	$0	$0	$0
Kelly Soety	Director	2.00	Director	$0	$0	$0
David Sample	President	2.00	Officer Director	$0	$0	$0
Bill Nichols	Director	2.00	Director	$0	$0	$0
Brad Russell	Treasurer	2.00	Officer Director	$0	$0	$0
Scott Brady	Vice President	2.00	Officer Director	$0	$0	$0
Bob Williams	Director	2.00	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
2025	$2,616,961	$1,465,015	$11,915,374	$1,151,946
2024	$4,044,525	$1,326,366	$11,447,607	$2,718,159
2023	$1,772,458	$1,193,604	$8,283,958	$578,854
2022	$1,627,146	$1,053,697	$8,329,078	$573,449
2021	$1,295,965	$1,023,700	$7,823,916	$272,265
2020	$1,895,839	$1,000,728	$7,657,552	$895,111
2019	$2,125,639	$1,038,111	$7,415,743	$1,087,528

Corry Area Industrial Development Corp