LAWRENCE ECONOMIC DEVELOPMENT CORPORATION

EIN: 311075744 501(c)(3)

South Point, OH

Total Revenue
$10,090,964
Total Expenses
$5,244,899
Total Assets
$67,061,764
Net Assets
$56,108,630
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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
1984
Legal Domicile
OH
Principal Officer
Bill Dingus
Phone
7403774550
Tax Period
2024-01-01 to 2024-12-31

LAWRENCE ECONOMIC DEVELOPMENT CORPORATION, founded in 1984, is a mid-sized nonprofit that reported $10.1M in total revenue in fiscal year 2024. Revenue surged 91% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.8M, a strong 48% operating margin.

Mission

To promote economic development in the City of Ironton and the County of Lawrence, Ohio to act as the designated agent for providing governmental assistance to business enterprise and to promote the general 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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,380,994
Program Service Revenue $374,899
Investment Income $2,677,796
Other Revenue $5,657,275
TOTAL REVENUE $10,090,964

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,172,226
Fundraising Expenses $0
Program Expenses $1,225,362
Other Expenses $4,072,673
TOTAL EXPENSES $5,244,899

Year-over-Year Comparison

2024 2023 Change
Revenue $10,090,964 $5,284,486 +0.9%
Expenses $5,244,899 $5,128,103 +0.0%
Net Income $4,846,065 $156,383 +30.0%
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

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Governance

Voting Members
23
Independent Members
23
Employees
N/A
Volunteers
25

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
10
$463,865
Total Directors
23
$0
Key Employees
3
$463,865
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Bill Dingus Executive Director 40
Officer Key Emp Highest
$0 $0 $185,518
Jeremy Clay Associate Director 40
Officer Key Emp
$0 $0 $161,247
Jesse Layne CFO 40
Officer Key Emp
$0 $0 $117,100
Carl Darling 2nd Vice President 2
Officer Director
$0 $0 $0
George Moore Vice President 2
Officer Director
$0 $0 $0
Dan Evans Chairman of the Board 2
Officer Director
$0 $0 $0
Gordon Waters President 2
Officer Director
$0 $0 $0
Carl Grover Board Member 2
Director
$0 $0 $0
D R Gossett Board Member 2
Director
$0 $0 $0
Tim Albert Board Member 2
Director
$0 $0 $0
Jodi Rowe-Collins Board Member 2
Director
$0 $0 $0
Matt Manns Board Member 2
Director
$0 $0 $0
Sandy Blackburn Board Member 2
Director
$0 $0 $0
Dan Mooney Secretary 2
Officer Director
$0 $0 $0
Matt Bell Asst. Secretary 2
Officer Director
$0 $0 $0
Katie McKnight Treasurer 2
Officer Director
$0 $0 $0
Emmett Kiritsy Board Member 2
Director
$0 $0 $0
Jim Galloway Board Member 2
Director
$0 $0 $0
Ernie Hall Parliamentarian 2
Director
$0 $0 $0
Aaron Heighton Asst. Treasurer 2
Director
$0 $0 $0
Drew Hurst Board Member 2
Director
$0 $0 $0
Rob Lynch Board Member 2
Director
$0 $0 $0
Tracy Bunch Communications Officer 2
Director
$0 $0 $0
Melissa Clark Board Member 2
Director
$0 $0 $0
Mike Davis Board Member 2
Director
$0 $0 $0
Dr Robert Hess Chamber President 2
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 $10,090,964 $5,244,899 $67,061,764 $4,846,065
2023 $5,284,486 $5,128,103 $65,043,975 $156,383
2022 $5,238,055 $4,448,554 $62,690,942 $789,501
2021 $9,945,474 $8,692,159 $62,339,240 $1,253,315
2020 $4,267,711 $3,880,768 $63,465,665 $386,943
2019 $3,620,595 $4,220,142 $61,781,804 $-599,547
2018 $14,320,740 $4,960,700 $61,986,404 $9,360,040
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