STARK ECONOMIC DEVELOPMENT BOARD I… - 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

1985

Legal Domicile

Principal Officer

RAY HEXAMER

Phone

3304535900

Tax Period

2023-07-01 to 2024-06-30

STARK ECONOMIC DEVELOPMENT BOARD INC, founded in 1985, is a community nonprofit in the Community Improvement sector that reported $3.4M in total revenue in fiscal year 2023. Revenue surged 187% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 33% operating margin.

Mission

WE STRENGTHEN STARK COUNTY BY DRIVING BUSINESS GROWTH AND LEADING ITS ECONOMIC TRANSFORMATION.

Program Service Accomplishments

Program 1

Expenses: $1,958,077 Revenue: $69,600

THE STARK ECONOMIC DEVELOPMENT BOARD, INC. IS AN ORGANIZATION WHOSE PURPOSE IS TO ATTRACT, EXPAND AND RETAIN BUSINESS INVESTMENTS IN STARK COUNTY, OHIO. SEDB IS A CONDUIT TO FUNDING SOURCES FOR...

THE STARK ECONOMIC DEVELOPMENT BOARD, INC. IS AN ORGANIZATION WHOSE PURPOSE IS TO ATTRACT, EXPAND AND RETAIN BUSINESS INVESTMENTS IN STARK COUNTY, OHIO. SEDB IS A CONDUIT TO FUNDING SOURCES FOR BUSINESSES THROUGH THE STARK COUNTY PORT AUTHORITY AND AS THE LOCAL TEAM NEO/JOBS OHIO PARTNER.

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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 $3,175,474

Program Service Revenue $69,600

Investment Income $92,622

Other Revenue $12,354

TOTAL REVENUE $3,350,050

Expense Breakdown

Grants Paid $60,000

Salaries & Benefits $1,044,423

Fundraising Expenses $52,221

Program Expenses $1,958,077

Other Expenses $1,156,405

TOTAL EXPENSES $2,260,828

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,350,050	$1,169,229	+1.9%
Expenses	$2,260,828	$1,752,044	+0.3%
Net Income	$1,089,222	$-582,815	-2.9%

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

$240,331

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM SHIVERS	TREASURER	2.00	Officer Director	$0	$0	$0
BRIAN BELDEN	CHAIRMAN	2.00	Officer Director	$0	$0	$0
JOSEPH SCHAUER	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
JAMIE SLUTZ	DIRECTOR	2.00	Director	$0	$0	$0
BRUCE M SOARES	DIRECTOR	2.00	Director	$0	$0	$0
CHRIS GOFF	DIRECTOR	2.00	Director	$0	$0	$0
CHRIS KABOTH	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTOPHER HUNT	DIRECTOR	2.00	Director	$0	$0	$0
DAVE KIRVEN	DIRECTOR	2.00	Director	$0	$0	$0
DICK MAGGIORE	DIRECTOR	2.00	Director	$0	$0	$0
ANDY ZIEGLER	DIRECTOR	2.00	Director	$0	$0	$0
BILL COOK	DIRECTOR	2.00	Director	$0	$0	$0
GREG KING	DIRECTOR	2.00	Director	$0	$0	$0
JACKIE STEWART	DIRECTOR	2.00	Director	$0	$0	$0
JANET WEIR CREIGHTON	DIRECTOR	2.00	Director	$0	$0	$0
MATT SAVAGE	DIRECTOR	2.00	Director	$0	$0	$0
JOE DALEIDEN	DIRECTOR	2.00	Director	$0	$0	$0
JOE MATUSZEWSKI	DIRECTOR	2.00	Director	$0	$0	$0
JOHN LANGELL	DIRECTOR	2.00	Director	$0	$0	$0
JOHN RICHARD	DIRECTOR	2.00	Director	$0	$0	$0
JORDAN GREENWALD	DIRECTOR	2.00	Director	$0	$0	$0
DOUG SIBILA	DIRECTOR	2.00	Director	$0	$0	$0
GERARD MASTROIANNI	DIRECTOR	2.00	Director	$0	$0	$0
KATHY SHULTZ	DIRECTOR	2.00	Director	$0	$0	$0
DOUG SCHWARZ	DIRECTOR	2.00	Director	$0	$0	$0
BARBARA H BENNETT	DIRECTOR	2.00	Director	$0	$0	$0
CHARLES HAMMONTREE	DIRECTOR	2.00	Director	$0	$0	$0
BRAD BELDEN	DIRECTOR	2.00	Director	$0	$0	$0
MATT STERLING	DIRECTOR	2.00	Director	$0	$0	$0
SCOTT T WARBURTON	DIRECTOR	2.00	Director	$0	$0	$0
CHAD ISLER	DIRECTOR	2.00	Director	$0	$0	$0
SHELLY BROWN	DIRECTOR	2.00	Director	$0	$0	$0
MICK HECKMAN	DIRECTOR	2.00	Director	$0	$0	$0
PARA JONES	DIRECTOR	2.00	Director	$0	$0	$0
RENATO CAMACHO	DIRECTOR	2.00	Director	$0	$0	$0
RICK L HULL	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT GESSNER	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT MULLEN	DIRECTOR	2.00	Director	$0	$0	$0
MARK J SAMOLCZYK	DIRECTOR	2.00	Director	$0	$0	$0
ANDREW GROVE	DIRECTOR	2.00	Director	$0	$0	$0
SANDY UPPERMAN	DIRECTOR	2.00	Director	$0	$0	$0
THOMAS E CECCONI	DIRECTOR	2.00	Director	$0	$0	$0
MATT GREGORY	DIRECTOR	2.00	Director	$0	$0	$0
TIM COLLINS	DIRECTOR	2.00	Director	$0	$0	$0
TIM TIMKEN JR	DIRECTOR	2.00	Director	$0	$0	$0
TIMOTHY CRONE	DIRECTOR	2.00	Director	$0	$0	$0
TIMOTHY MALONEY	DIRECTOR	2.00	Director	$0	$0	$0
TIMOTHY SEIFERT	DIRECTOR	2.00	Director	$0	$0	$0
TODD PUGH	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM SHERER II	DIRECTOR	2.00	Director	$0	$0	$0
MARK SCHEFFLER	DIRECTOR	2.00	Director	$0	$0	$0
RYAN STENGER	DIRECTOR	2.00	Director	$0	$0	$0
RAY HEXAMER	PRESIDENT & CEO	35.00	Officer	$197,581	$42,750	$240,331

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
2025	No data	No data	No data	No data
2024	$3,350,050	$2,260,828	$4,718,596	$1,089,222
2023	$1,169,229	$1,752,044	$3,682,250	$-582,815
2022	$872,768	$1,295,041	$3,590,351	$-422,273
2021	$2,811,607	$1,318,996	$4,016,090	$1,492,611
2020	$1,710,822	$1,603,132	$2,650,734	$107,690
2019	$1,258,272	$978,347	$2,535,944	$279,925

STARK ECONOMIC DEVELOPMENT BOARD INC