VALLEY ECONOMIC DEVELOPMENT PARTNE… - 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

1977

Legal Domicile

Principal Officer

TERESA MILLER

Phone

3307593668

Tax Period

2024-01-01 to 2024-12-31

VALLEY ECONOMIC DEVELOPMENT PARTNERS INC, founded in 1977, is a community nonprofit in the Community Improvement sector that reported $7.5M in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. The organization ran a surplus of $5.3M, a strong 71% operating margin.

Mission

TO SUPPORT THE CREATION AND EXPANSION OF SMALL BUSINESSES AND LOCAL JOBS WHERE ECONOMIC OPPORTUNITY IS NEEDED MOST THROUGH EDUCATION CLASSES AND FLEXIBLE LENDING SOLUTIONS IN COLLABORATION WITH OTHER COMMUNITY DEVELOPMENT ORGANIZATIONS.

Program Service Accomplishments

Program 1

Expenses: $1,964,953 Revenue: $2,227,036

PROMOTE ECONOMIC DEVELOPMENT AND EMPLOYMENT OPPORTUNITIES THROUGH BUSINESS CREATION, EXPANSION, AND RETENTION. DEVELOP AND OPERATE A DIVERSIFIED PORTFOLIO OF LOAN PROGRAMS AND OTHER SERVICES TO...

PROMOTE ECONOMIC DEVELOPMENT AND EMPLOYMENT OPPORTUNITIES THROUGH BUSINESS CREATION, EXPANSION, AND RETENTION. DEVELOP AND OPERATE A DIVERSIFIED PORTFOLIO OF LOAN PROGRAMS AND OTHER SERVICES TO ADDRESS THE NEEDS OF REGIONAL BUSINESSES. ESTABLISH AND MAINTAIN STRONG RELATIONSHIPS WITH FINANCIAL, EDUCATIONAL, BUSINESS, GOVERNMENT, AND DEVELOPMENT ORGANIZATIONS AND ATTRACT INVESTORS FOR NEW BUSINESS OPPORTUNITIES. IN 2024 VALLEY PARTNERS CLOSED 203 FINANCIAL PRODUCTS FOR A TOTAL OF $15 MILLION.

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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 $5,061,651

Program Service Revenue $2,154,870

Investment Income $201,102

Other Revenue $95,995

TOTAL REVENUE $7,513,618

Expense Breakdown

Grants Paid $846,100

Salaries & Benefits $785,102

Fundraising Expenses $0

Program Expenses $1,964,953

Other Expenses $582,616

TOTAL EXPENSES $2,213,818

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,513,618	$8,153,238	-0.1%
Expenses	$2,213,818	$1,297,501	+0.7%
Net Income	$5,299,800	$6,855,737	-0.2%

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

$151,452

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULIE MICHAEL SMITH	DIRECTOR	0.20	Director	$0	$0	$0
JOSH TOOT	PRESIDENT	0.20	Officer Director	$0	$0	$0
CHRISTOPHER COLELLA	TREASURER	0.20	Officer Director	$0	$0	$0
STEPHANIE GILCHRIST	SECRETARY	0.20	Officer Director	$0	$0	$0
VITO ABRUZZINO	DIRECTOR	0.20	Director	$0	$0	$0
DERRICK MCDOWELL	DIRECTOR	0.20	Director	$0	$0	$0
JAMES GIBBS	DIRECTOR	0.20	Director	$0	$0	$0
DIANE RICHARDSON	DIRECTOR	0.20	Director	$0	$0	$0
SAMUEL HUSTON	VICE PRESIDENT	0.20	Officer Director	$0	$0	$0
ANNEMARIE DEASCENTIS	DIRECTOR	0.20	Director	$0	$0	$0
GIOVANI MERLO	DIRECTOR	0.20	Director	$0	$0	$0
LYNETTE SUTTON	DIRECTOR	0.20	Director	$0	$0	$0
MICHAEL KEYS	DIRECTOR	0.20	Director	$0	$0	$0
THOMAS STABI	DIRECTOR	0.20	Director	$0	$0	$0
BEN DIGIROLAMO	DIRECTOR	0.20	Director	$0	$0	$0
SARRA MOHN	DIRECTOR	0.20	Director	$0	$0	$0
TERESA MILLER	EXECUTIVE DIRECTOR	40.00	Officer	$131,823	$19,629	$151,452

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	$7,513,618	$2,213,818	$46,885,293	$5,299,800
2023	$8,153,238	$1,297,501	$44,597,920	$6,855,737
2022	$7,559,367	$3,270,120	$34,171,948	$4,289,247
2021	$7,351,682	$2,223,541	$51,000,529	$5,128,141
2020	$11,899,597	$5,598,711	$26,184,630	$6,300,886
2019	$1,653,369	$1,212,435	$19,399,857	$440,934
2018	$1,072,494	$973,954	$18,802,249	$98,540

VALLEY ECONOMIC DEVELOPMENT PARTNERS INC