KERRVILLE ECONOMIC DEVELOPMENT CORP

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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

DALTON RICE

Phone

8308961157

Tax Period

2023-11-01 to 2024-10-31

KERRVILLE ECONOMIC DEVELOPMENT CORP, founded in 2009, is a small nonprofit in the Community Improvement sector that reported $557K in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $502K left a modest 10% surplus.

Mission

THE PURPOSE OF KEDC IS TO BE A LEADER IN ECONOMIC DEVELOPMENT FOR KERRVILLE, TEXAS BY FACILITATING MEANINGFUL ACTIVITIES THAT PROMOTE GROWTH, RETENTION, AND PROSPERITY. PARTICULAR ATTENTION AND EMPHASIS SHALL BE GIVEN TO SUPPORT THE ECONOMIC, COMMERCIAL, TOURISM, AGRICULTURE, RECREATIONAL, QUALITY OF LIFE, HEALTH CARE, CULTURAL, INDUSTRIAL, RESEARCH, AND EDUCATIONAL INTERESTS OF THE CITY THAT DIRECTLY BROADENS THE TAX BASE.

Program Service Accomplishments

Program 1

Expenses: $150,000 Revenue: $7,000

KERREDC'S BUSINESS RETENTION & EXPANSION (BRE) PROGRAM ENGAGED 37 BUSINESSES DURING FISCAL YEAR 2024, PROVIDING DIRECT TECHNICAL ASSISTANCE, WORKFORCE SOLUTIONS, AND CONNECTIONS TO STATE AND LOCAL...

KERREDC'S BUSINESS RETENTION & EXPANSION (BRE) PROGRAM ENGAGED 37 BUSINESSES DURING FISCAL YEAR 2024, PROVIDING DIRECT TECHNICAL ASSISTANCE, WORKFORCE SOLUTIONS, AND CONNECTIONS TO STATE AND LOCAL RESOURCES. THIS PROGRAM HELPED RETAIN OVER 1,900 LOCAL JOBS, SUPPORTED EXPANSIONS, AND ADDRESSED CRITICAL ISSUES SUCH AS SUPPLY CHAIN, WORKFORCE SHORTAGES, AND FACILITY NEEDS. BRE ALSO INCLUDED QUARTERLY ROUNDTABLES AND CUSTOMIZED COMPANY VISITS TO ENSURE CONTINUED GROWTH AND STABILITY OF EXISTING EMPLOYERS.

Program 2

Expenses: $140,000

KERREDC LED SEVERAL HIGH-PROFILE RECRUITMENT AND CAPITAL INVESTMENT INITIATIVES, INCLUDING PROJECT NEXUS ($10M POTENTIAL INVESTMENT), MEGAACRETE (ADVANCED MATERIALS MANUFACTURING WITH INTERNATIONAL INVESTOR INTEREST), AND PARTICIPATION IN TRADE MISSIONS (MONTERREY, SWEDEN, AND RURAL AIR MOBILITY COLLABORATIONS). RECRUITMENT ACTIVITIES CONNECTED EXECUTIVES WITH KERR COUNTY PROPERTIES, WORKFORCE DATA, AND INCENTIVE TOOLS, POSITIONING KERRVILLE FOR LONG-TERM GROWTH.

Program 3

Expenses: $120,000

KERREDC ADVANCED LOCAL WORKFORCE AND QUALITY-OF-LIFE INFRASTRUCTURE TO STRENGTHEN THE BUSINESS ENVIRONMENT INCLUDING:CHILDCARE SUMMIT PLANNING AND CHILDCARE FACILTY EXPLORATION.HOSTING THE TEXAS...

KERREDC ADVANCED LOCAL WORKFORCE AND QUALITY-OF-LIFE INFRASTRUCTURE TO STRENGTHEN THE BUSINESS ENVIRONMENT INCLUDING:CHILDCARE SUMMIT PLANNING AND CHILDCARE FACILTY EXPLORATION.HOSTING THE TEXAS VENTURE FEST.ONGOING COLLABORATIONS WITH LOCAL SCHOOLS, UNIVERSITIES, AND WORKFORCE BOARDS TO ALIGN TRAINING PROGRAMS TO ADDRESS WORKFORCE PARTICIPATION BARRIERS AND PROMOTE KERRVILLE AS A COMPETITIVE AND LIVABLE COMMUNITY.

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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 $550,000

Program Service Revenue $7,000

Investment Income $0

Other Revenue $0

TOTAL REVENUE $557,000

Expense Breakdown

Grants Paid $0

Salaries & Benefits $303,220

Fundraising Expenses $0

Program Expenses $483,831

Other Expenses $199,137

TOTAL EXPENSES $502,357

Year-over-Year Comparison

	2023	2022	Change
Revenue	$557,000	$503,060	+0.1%
Expenses	$502,357	$525,558	0.0%
Net Income	$54,643	$-22,498	-3.4%

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

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
DALTON RICE	PRESIDENT	3.00	Officer Director	$0	$0	$0
JONATHAN LETZ	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
JULIE DAVIS	BOARD MEMBER	1.00	Director	$0	$0	$0
MIKE WITTLER	TREASURER	3.00	Officer Director	$0	$0	$0
BRETT RINGO	BOARD MEMBER	1.00	Director	$0	$0	$0
ROB KELLY	BOARD MEMBER	1.00	Director	$0	$0	$0
JOE HERRING	BOARD MEMBER	1.00	Director	$0	$0	$0
TODD BOCK	BOARD MEMBER	1.00	Director	$0	$0	$0
GREG APPEL	BOARD MEMBER	1.00	Director	$0	$0	$0
MINDY CURRAN	BOARD MEMBER	1.00	Director	$0	$0	$0
CHARLIE L MCILVAIN	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	$557,000	$502,357	$189,923	$54,643
2023	$503,060	$525,558	No data	$-22,498
2022	$512,433	$501,088	$145,304	$11,345
2021	$358,050	$468,537	$77,348	$-110,487
2020	$365,920	$316,409	$101,457	$49,511
2019	$213,500	$273,580	$86,991	$-60,080