MORGAN COUNTY IMPROVEMENT CORPORATION (EIN 260090510) - 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

1967

Legal Domicile

Principal Officer

KELSEY WELLS

Phone

7409626772

Tax Period

2023-01-01 to 2023-12-31

MORGAN COUNTY IMPROVEMENT CORPORATION, founded in 1967, is a small nonprofit in the Community Improvement sector that reported $634K in total revenue in fiscal year 2023. Revenue surged 76% from the prior year, signaling strong growth momentum. The organization ran a surplus of $223K, a strong 35% operating margin.

Mission

THE SOLE PURPOSE FOR WHICH THE CORPORATION IS FORMED IS TO ADVANCE, ENCOURAGE, AND PROMOTE INDUSTRIAL, ECONOMIC, COMMERCIAL, AND CIVIC DEVELOPMENT OF THE COUNTY OF MORGAN, AND THE MUNICIPAL CORPORATIONS LOCATED THEREIN BY ACTING AS THE DESIGNATED AGENCY OF THE COUNTY OF MORGAN, ONE OR MORE MUNICIPAL CORPORATIONS LOCATED THEREIN, OR THE COUNTY OF MORGAN AND ONE OR MORE MUNICIPAL CORPORATIONS LOCATED THEREIN, FOR THE INDUSTRIAL, COMMERCIAL, DISTRIBUTION, AND RESEARCH DEVELOPMENT IN SUCH POLITICAL SUBDIVISION IN ACCORDANCE WITH SECTION 1724.10, REVISED CODE. TO PROVIDE REAL PROPERTY FOR AN INDUSTRIAL BUILDING BEING FINANCED IN PART BY LOANS AND GRANTS FROM THE STATE OF OHIO. THE CORPORATION SHALL HAVE THE RIGHT TO RAISE MONEY AND EXPEND FUNDS FOR COMMUNITY PROJECTS IN MORGAN COUNTY, OHIO. OUR ACTIVITY FURTHERS OUR EXEMPT PURPOSE AS WE ARE ABLE TO OBTAIN LOANS WITH LOWER THAN STANDARD INTEREST RATES AND GRANTS FROM THE STATE OF OHIO TO FINANCE THE REAL PROPERTY, WHICH IN TURN ALLOWS THE CO

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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 $265,737

Program Service Revenue $360,000

Investment Income $308

Other Revenue $8,125

TOTAL REVENUE $634,170

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,800

Fundraising Expenses $0

Program Expenses $409,139

Other Expenses $409,139

TOTAL EXPENSES $410,939

Year-over-Year Comparison

	2023	2022	Change
Revenue	$634,170	$360,014	+0.8%
Expenses	$410,939	$154,843	+1.7%
Net Income	$223,231	$205,171	+0.1%

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

$1,800

Total Directors

$1,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KELSEY WELLS	BOARD MEMBER	1.25	Officer Director	$1,800	$0	$1,800
BERNIE ANDERSON	BOARD MEMBER	0.50	Director	$0	$0	$0
SARAH HARLOW	BOARD MEMBER	0.50	Director	$0	$0	$0
MARK HOWDYSHELL	BOARD MEMBER	1.25	Officer Director	$0	$0	$0
CECIL MAYLE	BOARD MEMBER	0.50	Director	$0	$0	$0
CHASITY MAYLE	BOARD MEMBER	0.50	Director	$0	$0	$0
DEAN PONCHAK	BOARD MEMBER	0.50	Director	$0	$0	$0
ADAM SHRIVER	BOARD MEMBER	1.25	Officer Director	$0	$0	$0
RICHARD WELSH	BOARD MEMBER	0.50	Director	$0	$0	$0
STEVE WILLIAMS	BOARD MEMBER	0.50	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$634,170	$410,939	$4,052,619	$223,231
2022	$360,014	$154,843	$4,238,671	$205,171
2021	$520,282	$215,591	$4,433,064	$304,691
2020	$210,727	$297,014	$4,702,300	$-86,287
2019	$465,164	$235,254	$4,980,545	$229,910
2018	$361,840	$235,688	$5,113,631	$126,152

MORGAN COUNTY IMPROVEMENT CORPORATION