AKRON DEVELOPMENT CORPORATION (EIN 341308327) - 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

1979

Legal Domicile

Principal Officer

JASON DODSON

Phone

3303752133

Tax Period

2023-01-01 to 2023-12-31

AKRON DEVELOPMENT CORPORATION, founded in 1979, is a small nonprofit in the Community Improvement sector that reported $284K in total revenue in fiscal year 2023. Revenue fell 42% from the prior year — a significant decline worth monitoring. Expenses of $552K exceeded revenue, resulting in a 94% operating deficit.

Mission

THE AKRON DEVELOPMENT CORPORATION WAS ORGANIZED TO SUPPORT ECONOMIC DEVELOPMENT INITIATIVES IN THE CITY OF AKRON, PARTICULARLY THROUGH A PROGRAM WITH THE FORMER AKRON GLOBAL BUSINESS ACCELERATOR, AND TO SECURE STATE OF OHIO FINANCING FUNDING FOR TECHNOLOGY-BASED BUSINESSES.

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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 $149,083

Program Service Revenue $227,302

Investment Income $-66,776

Other Revenue $-25,449

TOTAL REVENUE $284,160

Expense Breakdown

Grants Paid $37,629

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $552,407

Other Expenses $514,864

TOTAL EXPENSES $552,493

Year-over-Year Comparison

	2023	2022	Change
Revenue	$284,160	$492,572	-0.4%
Expenses	$552,493	$524,420	+0.1%
Net Income	$-268,333	$-31,848	+7.4%

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

N/A

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

$288,250

Total Directors

$288,250

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JASON DODSON	PRESIDENT	4.00	Officer Director	$0	$0	$0
SAMUEL DESHAZIOR	VICE PRESIDENT	4.00	Officer Director	$0	$51,130	$218,441
JOE DANCY	SECRETARY	4.00	Officer Director	$0	$0	$0
KEN BURNS	TREASURER	4.00	Officer Director	$0	$0	$0
CATHERINE BRECK	FORMER PRESIDENT THRU APRIL 2023	4.00	Officer Director	$0	$14,772	$69,809
ANNAL VYAS	TRUSTEE THRU MARCH 2023	4.00	Director	$0	$0	$0
ADELE ROTH	TRUSTEE	4.00	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	No data	No data	No data	No data
2023	$284,160	$552,493	$4,840,222	$-268,333
2022	$492,572	$524,420	$5,370,661	$-31,848
2021	$934,426	$1,008,495	$6,249,734	$-74,069
2020	$4,056,032	$4,230,867	$6,665,818	$-174,835

AKRON DEVELOPMENT CORPORATION