Madison County Economic Development Inc (EIN 351473675) - 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

1983

Legal Domicile

Principal Officer

Mark Harville

Phone

7656421860

Tax Period

2024-01-01 to 2024-12-31

Madison County Economic Development Inc, founded in 1983, is a small nonprofit that reported $526K in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $620K exceeded revenue, resulting in a 18% operating deficit.

Mission

The primary exempt purpose of Madison County Economic Development is to plan and undertake activities leading to a steady job growth increasing economic diversity and a strenghened employer base in the City of Anderson and Madison County Indiana

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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 $75,700

Program Service Revenue $265,979

Investment Income $183,890

Other Revenue $0

TOTAL REVENUE $525,569

Expense Breakdown

Grants Paid $0

Salaries & Benefits $276,391

Fundraising Expenses $28,522

Program Expenses $520,359

Other Expenses $343,791

TOTAL EXPENSES $620,182

Year-over-Year Comparison

	2024	2023	Change
Revenue	$525,569	$434,983	+0.2%
Expenses	$620,182	$435,562	+0.4%
Net Income	$-94,613	$-579	+162.4%

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

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

$120,330

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROB SPARKS	Excutive Director	40.00	Officer	$120,330	$0	$120,330
MARK HARVILLE	President	0.00	Officer Director	$0	$0	$0
BRIAN EARLEY	Vice President	0.00	Officer Director	$0	$0	$0
KIM TOWNSEND	Secretary	0.00	Officer Director	$0	$0	$0
BILL FREDERICKS	Treasurer	0.00	Officer Director	$0	$0	$0
NANCY ANDERSON	Director	0.00	Director	$0	$0	$0
BRIAN DONAHUE	Director	0.00	Director	$0	$0	$0
MIA JOHNSON	Director	0.00	Director	$0	$0	$0
KIRK KLABUNDE	Director	0.00	Director	$0	$0	$0
KEVIN MONTGOMERY	Director	0.00	Director	$0	$0	$0
WILLIAM O'NEAL	Director	0.00	Director	$0	$0	$0
KIM PEAK-HILL	Director	0.00	Director	$0	$0	$0
BETH THARP	Director	0.00	Director	$0	$0	$0
JESSICA WARNKE	Director	0.00	Director	$0	$0	$0
BILL WATSON	Director	0.00	Director	$0	$0	$0
GREG WHITE	Director	0.00	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	$525,569	$620,182	$293,516	$-94,613
2023	$434,983	$435,562	$388,282	$-579
2022	$316,900	$382,175	$388,302	$-65,275
2021	$373,105	$271,483	$452,904	$101,622
2020	$331,782	$280,849	$348,406	$50,933
2019	$248,463	$264,626	$297,444	$-16,163
2018	$257,648	$287,737	$320,322	$-30,089

Madison County Economic Development Inc