WEST CENTRAL ARKANSAS ECONOMIC DEV… - Form 990 Financial Data

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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

2009

Legal Domicile

Principal Officer

GARY BECKWITH

Phone

5015257577

Tax Period

2023-01-01 to 2023-12-31

WEST CENTRAL ARKANSAS ECONOMIC DEVELOP SERV INC, founded in 2009, is a micro nonprofit that reported $62K in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Expenses of $398K exceeded revenue, resulting in a 541% operating deficit.

Mission

TO OWN, MANAGE, PURCHASE, SELL, RENT AND LEASE REAL AND PERSONAL PROPERTY TO BE USED SOLELY TO FURTHER THE OBJECTIVES AND PURPOSES OF REGIONAL SERVICE ORGANIZATIONS ENGAGED IN ECONOMIC DEVELOPMENT EFFORTS.

Program Service Accomplishments

Program 1

Expenses: $387,015 Revenue: $60,500

TO OWN, MANAGE, PURCHASE, SELL, RENT AND LEASE REAL AND PERSONAL PROPERTY TO BE USED SOLELY TO FURTHER THE OBJECTIVES AND PURPOSES OF REGIONAL SERVICE ORGANIZATIONS ENGAGED IN ECONOMIC 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 $0

Program Service Revenue $60,500

Investment Income $1,523

Other Revenue $0

TOTAL REVENUE $62,023

Expense Breakdown

Grants Paid $353,374

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $387,015

Other Expenses $44,163

TOTAL EXPENSES $397,537

Year-over-Year Comparison

	2023	2022	Change
Revenue	$62,023	$66,721	-0.1%
Expenses	$397,537	$47,506	+7.4%
Net Income	$-335,514	$19,215	-18.5%

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

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
GARY BECKWITH	SECRETARY/TR	N/A	Officer	$0	$0	$0
JOHN GUTHRIE	VICE PRESIDE	N/A	Officer	$0	$0	$0
TERRY SHERWOOD	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
2023	$62,023	$397,537	No data	$-335,514
2022	$66,721	$47,506	$590,504	$19,215
2021	$66,279	$40,396	$601,289	$25,883
2020	$67,016	$58,776	$603,739	$8,240

WEST CENTRAL ARKANSAS ECONOMIC DEVELOP SERV INC