BLOOMINGTON ECONOMIC DEVELOPMENT CORP

EIN: 351534667

BLOOMINGTON, IN

Total Revenue
$563,283
Total Expenses
$583,962
Total Assets
$629,534
Net Assets
$450,602
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
IN
Principal Officer
JENNIFER PEARL
Phone
8123357346
Tax Period
2023-01-01 to 2023-12-31

BLOOMINGTON ECONOMIC DEVELOPMENT CORP, founded in 1984, is a small nonprofit that reported $563K in total revenue in fiscal year 2023.

Mission

THE ORGANIZATION PROVIDES LEADERSHIP ON ISSUES THAT AFFECT BUSINESS GROWTH, CHALLENGES TO JOB CREATION AND THE LONG-TERM COMPETITIVENESS OF OUR ECONOMY. THEY FACILITATE RETENTION AND EXPANSION OF PRIMARY EMPLOYERS AND KEY INDUSTRIES, AND THEY DRIVE (CONTINUED ON SCH. O) THE DEVELOPMENT AND ATTRACTION OF TARGETED BUSINESSES IN THE COMMUNITY.

Program Service Accomplishments

Program 1

THE ORGANIZATION RECRUITS NEW BUSINESS DEVELOPMENT AND FACILITATES THE EXPANSION OF EXISTING BUSINESS IN MONROE COUNTY. THE ORGANIZATION ACTS AS AN INTERMEDIARY BETWEEN LOCAL BUSINESSES AND STATE AND...

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THE ORGANIZATION RECRUITS NEW BUSINESS DEVELOPMENT AND FACILITATES THE EXPANSION OF EXISTING BUSINESS IN MONROE COUNTY. THE ORGANIZATION ACTS AS AN INTERMEDIARY BETWEEN LOCAL BUSINESSES AND STATE AND FEDERAL ECONOMIC DEVELOPMENT ASSISTANCE PROGRAMS. IT PROVIDES LEADERSHIP ON ISSUES THAT AFFECT BUSINESS GROWTH, CHALLENGES TO JOB CREATION AND THE LONG-TERM COMPETITIVENESS OF THE LOCAL ECONOMY. IT SUPPORTS ENTREPRENEURSHIP AND INNOVATION TO SUPPORT THE CREATION OF JOBS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $199,011
Program Service Revenue $361,512
Investment Income $2,760
Other Revenue $0
TOTAL REVENUE $563,283

Expense Breakdown

Grants Paid $0
Salaries & Benefits $365,643
Fundraising Expenses $0
Other Expenses $218,319
TOTAL EXPENSES $583,962

Year-over-Year Comparison

2023 2022 Change
Revenue $563,283 $590,621 0.0%
Expenses $583,962 $556,710 +0.0%
Net Income $-20,679 $33,911 -1.6%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
60
Independent Members
60
Employees
5
Volunteers
175

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
7
$127,977
Total Directors
59
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CINDY KINNARNEY BOARD CHAIR 1.00
Officer Director
$0 $0 $0
JENNIFER PEARL PRESIDENT 40.00
Officer
$118,801 $9,176 $127,977
JOHN GERNAND TREASURER 1.00
Officer Director
$0 $0 $0
PAUL QUICK SECRETARY 1.00
Officer Director
$0 $0 $0
TYCE CARMICHAEL 1ST VICE CHAIR 1.00
Officer Director
$0 $0 $0
VALERIE PENA 2ND VICE CHAIR 1.00
Officer Director
$0 $0 $0
SARAH ROGERS PAST CHAIR 1.00
Officer Director
$0 $0 $0
STEVE ABBOTT DIRECTOR 1.00
Director
$0 $0 $0
JULIE ADAMS DIRECTOR 1.00
Director
$0 $0 $0
RAVI BHATT DIRECTOR 1.00
Director
$0 $0 $0
DAVE BRODIN DIRECTOR 1.00
Director
$0 $0 $0
STEVE BRYANT DIRECTOR 1.00
Director
$0 $0 $0
MATT COLGLAZIER DIRECTOR 1.00
Director
$0 $0 $0
DAVE CONNER DIRECTOR 1.00
Director
$0 $0 $0
ERIK COYNE DIRECTOR 1.00
Director
$0 $0 $0
SPENCER DEPOY DIRECTOR 1.00
Director
$0 $0 $0
STEVE DIRK DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL FARMER DIRECTOR 1.00
Director
$0 $0 $0
EVAN GADY DIRECTOR 1.00
Director
$0 $0 $0
CARLOS GAITANI DIRECTOR 1.00
Director
$0 $0 $0
ADAM GROSS DIRECTOR 1.00
Director
$0 $0 $0
HAROLD GUTZWILLER DIRECTOR 1.00
Director
$0 $0 $0
ANNIE HAMILTON DIRECTOR 1.00
Director
$0 $0 $0
JOHN HAMILTON DIRECTOR 1.00
Director
$0 $0 $0
DAVID HAYS DIRECTOR 1.00
Director
$0 $0 $0
JOHN HURLOW DIRECTOR 1.00
Director
$0 $0 $0
MATT KELLEY DIRECTOR 1.00
Director
$0 $0 $0
JENNIFER KELLEY DIRECTOR 1.00
Director
$0 $0 $0
KRYSTAL KENNEDY DIRECTOR 1.00
Director
$0 $0 $0
ROB KING DIRECTOR 1.00
Director
$0 $0 $0
NATHAN KUNKLER DIRECTOR 1.00
Director
$0 $0 $0
CARLOS LAVERTY DIRECTOR 1.00
Director
$0 $0 $0
JOHNNY LINDSEY DIRECTOR 1.00
Director
$0 $0 $0
MIKE MCAFEE DIRECTOR 1.00
Director
$0 $0 $0
MISTY MCCAMMACK DIRECTOR 1.00
Director
$0 $0 $0
GEOFF MCKIM DIRECTOR 1.00
Director
$0 $0 $0
JARRETT MOORE DIRECTOR 1.00
Director
$0 $0 $0
JERRY NEELY DIRECTOR 1.00
Director
$0 $0 $0
LUKE OWINGS DIRECTOR 1.00
Director
$0 $0 $0
ANGELA PARKER DIRECTOR 1.00
Director
$0 $0 $0
MO PERAZA DIRECTOR 1.00
Director
$0 $0 $0
DAN PETERSON DIRECTOR 1.00
Director
$0 $0 $0
TINA PETERSON DIRECTOR 1.00
Director
$0 $0 $0
JIM REGESTER DIRECTOR 1.00
Director
$0 $0 $0
RANDY ROGERS DIRECTOR 1.00
Director
$0 $0 $0
JERRY SANDERS DIRECTOR 1.00
Director
$0 $0 $0
SUE SGAMBELLURI DIRECTOR 1.00
Director
$0 $0 $0
SCOTT SHISHMAN DIRECTOR 1.00
Director
$0 $0 $0
ERIC SPOONMORE DIRECTOR 1.00
Director
$0 $0 $0
JAMES TANNEBERGER DIRECTOR 1.00
Director
$0 $0 $0
BOB TAYLOR DIRECTOR 1.00
Director
$0 $0 $0
JULIE THOMAS DIRECTOR 1.00
Director
$0 $0 $0
MARYANN VALENTA DIRECTOR 1.00
Director
$0 $0 $0
MARTIE VANDEVENTER DIRECTOR 1.00
Director
$0 $0 $0
RON WALKER DIRECTOR 1.00
Director
$0 $0 $0
COLE WATSON DIRECTOR 1.00
Director
$0 $0 $0
KRISTEN WEIDA DIRECTOR 1.00
Director
$0 $0 $0
DON WEILER DIRECTOR 1.00
Director
$0 $0 $0
TIM WHICKER DIRECTOR 1.00
Director
$0 $0 $0
JEFF HAUSWALD DIRECTOR 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
2024 No data No data No data No data
2023 $563,283 $583,962 $629,534 $-20,679
2022 $590,621 $556,710 $637,286 $33,911
2021 $436,182 $369,585 $562,405 $66,597
2020 $453,515 $393,591 $494,833 $59,924
2019 $452,902 $436,055 $446,988 $16,847
2018 $454,641 $436,198 $449,488 $18,443
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