TEAM VOLUSIA ECONOMIC DEVELOPMENT CORPORATION (EIN 273203032) - 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

2010

Legal Domicile

Principal Officer

KEITH NORDEN

Phone

3862656332

Tax Period

2024-01-01 to 2024-12-31

TEAM VOLUSIA ECONOMIC DEVELOPMENT CORPORATION, founded in 2010, is a community nonprofit in the Community Improvement sector that reported $1.3M in total revenue in fiscal year 2024. Expenses of $1.1M left a modest 11% surplus.

Mission

THE PRIMARY MISSION OF THE ORGANIZATION IS TO EXPAND VOLUSIA COUNTY'S ECONOMIC BASE CREATING A COMPETITIVELY SUSTAINABLE AND DIVERSIFIED ECONOMY.

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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 $1,245,662

Program Service Revenue $0

Investment Income $19,419

Other Revenue $0

TOTAL REVENUE $1,265,081

Expense Breakdown

Grants Paid $0

Salaries & Benefits $614,999

Fundraising Expenses $20,636

Program Expenses $869,037

Other Expenses $515,180

TOTAL EXPENSES $1,130,179

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,265,081	$1,210,760	+0.0%
Expenses	$1,130,179	$1,167,935	0.0%
Net Income	$134,902	$42,825	+2.2%

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

$236,554

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEITH NORDEN	CEO	40.00	Officer	$225,053	$11,501	$236,554
N/A	CHAIR	1.00	Officer Director	$0	$0	$0
N/A	CHAIR	1.00	Officer Director	$0	$0	$0
N/A	TREASURER	1.00	Officer Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	EXECUTIVE CO	1.00	Director	$0	$0	$0
N/A	EXECUTIVE CO	1.00	Director	$0	$0	$0
N/A	EXECUTIVE CO	1.00	Director	$0	$0	$0
N/A	EXECUTIVE CO	1.00	Director	$0	$0	$0
N/A	EXECUTIVE CO	1.00	Director	$0	$0	$0
N/A	EXECUTIVE CO	1.00	Director	$0	$0	$0
N/A	VICE CHAIR	1.00	Officer Director	$0	$0	$0
N/A	EXECUTIVE CO	1.00	Director	$0	$0	$0
N/A	EXECUTIVE CO	1.00	Director	$0	$0	$0
RANDY DYE DAYTONA DODGE CHRYSLER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
N/A	EXECUTIVE CO	1.00	Director	$0	$0	$0
AVALON PARK GROUP	BOARD MEMBER	1.00	Director	$0	$0	$0
B BRAUN MEDICAL	BOARD MEMBER	1.00	Director	$0	$0	$0
BOULEVARD TIRE CENTER	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
CHARTER COMMUNICATIONS	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
FLORIDA POWER LIGHT	BOARD MEMBER	1.00	Director	$0	$0	$0
GILES ELECTRIC	BOARD MEMBER	1.00	Director	$0	$0	$0
N/A	BOARD MEMBER	1.00	Director	$0	$0	$0
HAZEN CONSTRUCTION	BOARD MEMBER	1.00	Director	$0	$0	$0
TRUIST BANK	BOARD MEMBER	1.00	Director	$0	$0	$0
KEISER UNIVERSITY	BOARD MEMBER	1.00	Director	$0	$0	$0
FARMTON DEERING PARK	BOARD MEMBER	1.00	Director	$0	$0	$0
DUKE ENERGY	BOARD MEMBER	1.00	Director	$0	$0	$0
VOLUSIA COUNTY	BOARD MEMBER	1.00	Director	$0	$0	$0
LOHMAN ENTERPRISES	BOARD MEMBER	1.00	Director	$0	$0	$0
FAIRWINDS CREDIT UNION	BOARD MEMBER	1.00	Director	$0	$0	$0
FOUNDATION RISK PARTNERS	BOARD MEMBER	1.00	Director	$0	$0	$0
HALIFAX HEALTH	BOARD MEMBER	1.00	Director	$0	$0	$0
KINGSPAN	BOARD MEMBER	1.00	Director	$0	$0	$0
DELAND GREATER WEST VOLUSIA	BOARD MEMBER	1.00	Director	$0	$0	$0
PRACTITIONERS COUNCIL	BOARD MEMBER	1.00	Director	$0	$0	$0
JAYSON MEYER SYNERGY BILLING	SECRETARY	1.00	Officer Director	$0	$0	$0
UNIVERSITY OF CENTRAL FLORIDA	BOARD MEMBER	1.00	Director	$0	$0	$0
VOLUSIA COUNTY CHAMBER ALLIANCE	BOARD MEMBER	1.00	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
2024	$1,265,081	$1,130,179	$1,614,944	$134,902
2023	$1,210,760	$1,167,935	$1,510,142	$42,825
2022	$1,191,773	$1,112,916	$1,527,070	$78,857
2021	$1,157,542	$1,113,892	$1,246,235	$43,650
2020	$1,133,205	$1,129,846	$1,126,907	$3,359
2019	$1,116,234	$1,177,647	$996,276	$-61,413
2018	$1,059,963	$1,167,058	$1,062,516	$-107,095

TEAM VOLUSIA ECONOMIC DEVELOPMENT CORPORATION