HAMMOND DEVELOPMENT CORPORATION

EIN: 351581423 501(c)(3) Community Improvement

HAMMOND, IN

Total Revenue
$1,032,224
Total Expenses
$2,082,749
Total Assets
$1,716,053
Net Assets
$1,524,404
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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
PHILIP TAILLON
Phone
2198536399
Tax Period
2021-01-01 to 2021-12-31

HAMMOND DEVELOPMENT CORPORATION, founded in 1984, is a community nonprofit in the Community Improvement sector that reported $1.0M in total revenue in fiscal year 2021. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $2.1M exceeded revenue, resulting in a 102% operating deficit.

Mission

PROVIDE EDUCATION AND ASSISTANCE TO MINORITY AND WOMEN BASED BUSINESS AND TO REHAB BUILDINGS IN BLIGHTED DOWNTOWN HAMMOND, INDIANA TO PROVIDE BUSINESS SPACE FOR WBE/MBES.

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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 (2021)

Revenue Breakdown

Contributions & Grants $587,595
Program Service Revenue $448,996
Investment Income $-9,174
Other Revenue $4,807
TOTAL REVENUE $1,032,224

Expense Breakdown

Grants Paid $0
Salaries & Benefits $217,804
Fundraising Expenses $0
Program Expenses $1,681,072
Other Expenses $1,864,945
TOTAL EXPENSES $2,082,749

Year-over-Year Comparison

2021 2020 Change
Revenue $1,032,224 $827,731 +0.2%
Expenses $2,082,749 $533,207 +2.9%
Net Income $-1,050,525 $294,524 -4.6%
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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Governance

Voting Members
15
Independent Members
15
Employees
7
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
6
$67,626
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID RYAN TRUSTEE 2.00
Director
$0 $0 $0
MONICA GARCIA SECRETARY 2.00
Officer Director
$0 $0 $0
ALEXIS WILLIAMS TRUSTEE 4.00
Officer Director
$0 $0 $0
KAREN MARAVILLA TRUSTEE 2.00
Director
$0 $0 $0
SCOTT YAHNE TRUSTEE 2.00
Director
$0 $0 $0
PHILLIP TAILLON PRESIDENT 4.00
Officer Director
$0 $0 $0
TONY HAUPRICH TRUSTEE 2.00
Director
$0 $0 $0
AFRICA TARVER TRUSTEE 2.00
Director
$0 $0 $0
ANNE ANDERSON TRUSTEE 2.00
Director
$0 $0 $0
MARK MCLAUGHLIN TRUSTEE 2.00
Director
$0 $0 $0
JANET VENECZ TRUSTEE 2.00
Director
$0 $0 $0
KATHY O'DONNELL TREASURER 4.00
Officer Director
$0 $0 $0
STEPHANIE VALENZUELA TRUSTEE 2.00
Director
$0 $0 $0
TAMERA LEINHART VICE PRESIDENT 2.00
Officer Director
$0 $0 $0
ASHLEY GERODIMOS TRUSTEE 2.00
Director
$0 $0 $0
JENNIFER BUSSEY EXECUTIVE DIRECTOR 40.00
Officer
$67,626 $0 $67,626
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
2021 $1,032,224 $2,082,749 $1,716,053 $-1,050,525
2020 $1,549,047 $545,620 $2,835,512 $1,003,427
2019 $1,570,780 $2,060,756 $2,772,275 $-489,976
2018 $1,708,414 $1,419,773 $3,326,606 $288,641
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