SWITZERLAND COUNTY ECONOMIC DEVELO… - 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

2003

Legal Domicile

Principal Officer

JONATHAN BOND

Phone

8124279100

Tax Period

2020-01-01 to 2020-12-31

SWITZERLAND COUNTY ECONOMIC DEVELOPMENT CORPORATION INC, founded in 2003, is a small nonprofit in the Community Improvement sector that reported $326K in total revenue in fiscal year 2020. Revenue surged 78% from the prior year, signaling strong growth momentum. Expenses of $299K left a modest 8% surplus.

Mission

THE SWITZERLAND COUNTY ECONOMIC DEVELOPMENT CORPORATION WAS CREATED TO SUPPORT THE COUNTY'S ECONOMIC DEVELOPMENT STRATEGY AND TO HELP POSITION SWITZERLAND COUNTY FOR AGGRESSIVE GROWTH INITIATIVES. THE NON-PROFIT CORPORATION SERVES AS A FACILITATOR, COORDINATING LOCAL ENTITIES AND ELECTED BODIES TO FURTHER IMPROVE SWITZERLAND COUNTY'S BUSINESS DEVELOPMENT CAPACITY AND QUALITY OF LIFE.

Program Service Accomplishments

Program 1

Expenses: $250,655 Revenue: $272,013

SWITZERLAND COUNTY ECONOMIC DEVELOPMENT CORPORATION (SCEDC) CARRIES OUT THE COUNTY'S ECONOMIC DEVELOPMENT ACTIVITIES BY ATTRACTING NEW INDUSTRIES TO THE AREA AND BY ENCOURAGING THE DEVELOPMENT AND...

SWITZERLAND COUNTY ECONOMIC DEVELOPMENT CORPORATION (SCEDC) CARRIES OUT THE COUNTY'S ECONOMIC DEVELOPMENT ACTIVITIES BY ATTRACTING NEW INDUSTRIES TO THE AREA AND BY ENCOURAGING THE DEVELOPMENT AND RETENTION OF INDUSTRIES IN THE COMMUNITY. SCEDC HAS IDENTIFIED SEVERAL PRIORITY GOALS THAT SERVE AS A REFERENCE POINT AND "ROAD MAP" FOR THE FUTURE OF SWITZERLAND COUNTY. SCEDC IS COMMITTED TO PROTECTING A CLEAN, SAFE, RURAL LIFESTYLE WHILE PROVIDING 21ST CENTURY INFRASTRUCTURE, PUBLIC, MEDICAL AND EDUCATION SERVICES. SCEDC HAS PUT TOGETHER AN AGGRESSIVE STRATEGY FOR MAKING SWITZERLAND COUNTY A HOME TO A TOP QUALITY WORKFORCE AND TO BUSINESSES THAT NOT ONLY OFFER HIGH SKILL JOB OPPORTUNITIES BUT ARE ALSO GREAT COMMUNITY CITIZENS.

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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 (2020)

Revenue Breakdown

Contributions & Grants $54,309

Program Service Revenue $272,013

Investment Income $0

Other Revenue $0

TOTAL REVENUE $326,322

Expense Breakdown

Grants Paid $0

Salaries & Benefits $91,970

Fundraising Expenses $0

Program Expenses $250,655

Other Expenses $207,203

TOTAL EXPENSES $299,173

Year-over-Year Comparison

	2020	2019	Change
Revenue	$326,322	$183,253	+0.8%
Expenses	$299,173	$193,413	+0.5%
Net Income	$27,149	$-10,160	-3.7%

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

$83,523

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOM CONROY	SECRETARY	2.00	Officer Director	$0	$0	$0
BRUCE WILLIAMS	VICE CHAIR	2.00	Officer Director	$0	$0	$0
RHONDA GRIFFIN	CHAIR	2.00	Officer Director	$0	$0	$0
JONATHAN BOND	PRESIDENT	40.00	Officer	$75,772	$7,751	$83,523

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
2020	$326,322	$299,173	$134,044	$27,149
2019	$183,253	$193,413	$57,540	$-10,160
2018	$165,126	$269,584	$42,145	$-104,458

SWITZERLAND COUNTY ECONOMIC DEVELOPMENT CORPORATION INC