Terre Haute Area Economic Development Corporation (EIN 351529347) - 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

1965

Legal Domicile

Principal Officer

Steve Witt

Phone

8122342524

Tax Period

2024-05-01 to 2025-04-30

Terre Haute Area Economic Development Corporation, founded in 1965, is a small nonprofit that reported $804K in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $773K left a modest 4% surplus.

Mission

To promote business growth and attract new business and industry to Terre Haute and Vigo 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 $538,256

Program Service Revenue $250,000

Investment Income $15,549

Other Revenue $0

TOTAL REVENUE $803,805

Expense Breakdown

Grants Paid $0

Salaries & Benefits $564,277

Fundraising Expenses $0

Program Expenses $686,607

Other Expenses $208,817

TOTAL EXPENSES $773,094

Year-over-Year Comparison

	2024	2023	Change
Revenue	$803,805	$1,055,111	-0.2%
Expenses	$773,094	$978,838	-0.2%
Net Income	$30,711	$76,273	-0.6%

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

$346,636

Total Directors

$346,636

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Claudia Tanoos	Vice President	40.00	Officer Director	$86,191	$51,222	$137,413
Steve Witt	President	40.00	Officer Director	$142,190	$67,033	$209,223
Mr Jeff Hogue	Member	1.00	Director	$0	$0	$0
Mrs Jennifer Isbell Scott	Member	1.00	Director	$0	$0	$0
Mr Larry Yargus	Member	1.00	Director	$0	$0	$0
Mayor Brandon Sakbun	Member	1.00	Director	$0	$0	$0
Mr Dave Pluckebaum	Member	1.00	Director	$0	$0	$0
Mr Tim Dora	Member	1.00	Director	$0	$0	$0
Mr Brian Dorsett	Member	1.00	Director	$0	$0	$0
Ms Casey Schroeppel	Member	1.00	Director	$0	$0	$0
Mr Steve Danielson	Member	1.00	Director	$0	$0	$0
Mr Jamie Amodeo	Member	1.00	Director	$0	$0	$0
Mr Norm D Lowery	Member	1.00	Director	$0	$0	$0
Mr Mark Unger	Past Chairman	1.00	Officer Director	$0	$0	$0
Mr Mark Fuson	Member	1.00	Director	$0	$0	$0
Mr Pete Goda	Member	1.00	Director	$0	$0	$0
Mr Melvin Burks	Member	1.00	Director	$0	$0	$0
Mr Andy Hendricks	Member	1.00	Director	$0	$0	$0
Mr Luke Terry	Member	1.00	Director	$0	$0	$0
Mr David Baker	Chairman Elect	1.00	Officer Director	$0	$0	$0
Dr Lea Anne Crooks	Member	1.00	Director	$0	$0	$0
Mr Terry Mace	Member	1.00	Director	$0	$0	$0
Mr Dan Gmelich	Member	1.00	Director	$0	$0	$0
Mr Jim Nichols	Member	1.00	Director	$0	$0	$0
Mr Kenny DePasse	Member	1.00	Director	$0	$0	$0
Mr Greg Gibson	Chairman	1.00	Officer Director	$0	$0	$0
Mr Robert Coons	Member	1.00	Director	$0	$0	$0
Mr Brennan Randolph	Member	1.00	Director	$0	$0	$0
Mr Andy Volkl	Member	1.00	Director	$0	$0	$0
Mr Tom Denny	Member	1.00	Director	$0	$0	$0
Mr Roberto Bohrer	Vice Chairman	1.00	Officer Director	$0	$0	$0
Mr Tyler Dinkel	Member	1.00	Director	$0	$0	$0
Mr David Templeton	Secretary/Treasurer	1.00	Officer Director	$0	$0	$0
Ms Kristin Craig	Member	1.00	Director	$0	$0	$0
Ms Karen Dyer	Member	1.00	Director	$0	$0	$0
Mr Craig Maschino	Member	1.00	Director	$0	$0	$0
Mr Bart Colwell	Member	1.00	Director	$0	$0	$0
Mr Paul Thrift	Member	1.00	Director	$0	$0	$0
Mr Luciano Farias	Member	1.00	Director	$0	$0	$0
Mr Steven Holman	Member	1.00	Director	$0	$0	$0
Commissioner Chris Switzer	Member	1.00	Director	$0	$0	$0
Dr Christopher Himsel	Member	1.00	Director	$0	$0	$0
Ms Leslie Beard	Member	1.00	Director	$0	$0	$0
Ms Cassie Hoggatt	Member	1.00	Director	$0	$0	$0
Ms Jasmine Lows	Member	1.00	Director	$0	$0	$0
Mr Rob Riggins	Member	1.00	Director	$0	$0	$0
Mr John Collett	Member	1.00	Director	$0	$0	$0
Mr Lance Gassert	Member	1.00	Director	$0	$0	$0
Mr Cory R Lockebill	Member	1.00	Director	$0	$0	$0
Dr Michael Godard	Member	1.00	Director	$0	$0	$0
Mr Matthew Van Hosen	Member	1.00	Director	$0	$0	$0
Ms Ellie Caldwell	Member	1.00	Director	$0	$0	$0
Mr Clay Spangler	Member	1.00	Director	$0	$0	$0
Mr Jordan Orwig	Member	1.00	Director	$0	$0	$0
Mr Justin Jenkins	Member	1.00	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
2025	$803,805	$773,094	$1,005,188	$30,711
2024	$1,055,111	$978,838	$919,101	$76,273
2023	$822,194	$818,949	$897,489	$3,245
2022	$802,532	$701,626	$870,206	$100,906
2021	$854,963	$765,897	$788,252	$89,066

Terre Haute Area Economic Development Corporation