DELAWARE ADVANCEMENT CORPORATION (EIN 311111841) - 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

1984

Legal Domicile

Principal Officer

MIKE O'CONNELL

Phone

7657519108

Tax Period

2023-10-01 to 2024-09-30

DELAWARE ADVANCEMENT CORPORATION, founded in 1984, is a community nonprofit that reported $4.4M in total revenue in fiscal year 2023. Expenses of $4.0M left a modest 8% surplus.

Mission

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 $2,926,461

Program Service Revenue $303,500

Investment Income $127,993

Other Revenue $1,001,747

TOTAL REVENUE $4,359,701

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,986,563

Fundraising Expenses $70,058

Program Expenses $3,503,748

Other Expenses $2,005,997

TOTAL EXPENSES $3,992,560

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,359,701	$4,549,047	0.0%
Expenses	$3,992,560	$3,522,074	+0.1%
Net Income	$367,141	$1,026,973	-0.6%

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

$311,247

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOANN MCKINNEY	PRES/CEO-HOR	40.00	Officer	$149,547	$8,815	$158,362
ELIZABETH ROWRAY	PRESIDENT/CE	13.00	Officer	$144,231	$8,654	$152,885
BRYAN AYERS	DIRECTOR	1.00	Director	$0	$0	$0
WATASHA BARNES GRIFFIN	DIRECTOR	1.00	Director	$0	$0	$0
JOE BARR	TREASURER	1.00	Officer Director	$0	$0	$0
JENNIFER GASIOREK	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER GIBSON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JOE HAMILTON	DIRECTOR	1.00	Director	$0	$0	$0
JEFF HOWE	DIRECTOR	1.00	Director	$0	$0	$0
JEFF HUFF	DIRECTOR	1.00	Director	$0	$0	$0
ROB KEISLING	CHAIR	1.00	Officer Director	$0	$0	$0
MIKE O'CONNELL	DIRECTOR	1.00	Director	$0	$0	$0
JEFF PARSONS	SECRETARY	1.00	Officer Director	$0	$0	$0
JESSICA PIPER	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW POPP	DIRECTOR	1.00	Director	$0	$0	$0
DAN RIDENOUR	DIRECTOR	1.00	Director	$0	$0	$0
SHERRY RIGGIN	DIRECTOR	1.00	Director	$0	$0	$0
RHONDA WARD	DIRECTOR	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	$4,359,701	$3,992,560	$15,230,312	$367,141
2023	$4,549,047	$3,522,074	$13,279,520	$1,026,973
2022	$3,902,728	$2,982,605	$13,220,362	$920,123
2021	$3,911,691	$3,065,731	$19,134,942	$845,960
2020	$3,466,807	$3,568,925	$18,623,569	$-102,118
2019	$3,724,090	$3,643,940	$19,079,115	$80,150
2018	$3,756,461	$3,513,129	$18,976,493	$243,332

DELAWARE ADVANCEMENT CORPORATION