HAMMOND, IN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)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.
HAMMOND DEVELOPMENT CORPORATION (HDC), AN INDIANA NOT-FOR-PROFIT ORGANIZATION, WAS FORMED TO PROVIDE BROAD BASED CHARITABLE SUPPORT FOR THE DEVELOPMENT AND REDEVELOPMENT OF THE CITY OF HAMMOND, INCLUDING THE STIMULATION OF HISTORICAL RENOVATION, GENERAL BUSINESS DEVELOPMENT, INCREASE IN COMMERCE AND TRADE, AND GENERAL STIMULATION OF THE REVITALIZATION OF THE CITY OF HAMMOND.
HDC EXPANDED ITS SMALL BUSINESS INCUBATOR PLAN BY ACQUIRING ABANDONED AND VACANT BUILDINGS IN THE DOWNTOWN HAMMOND AREA THROUGH GRANTS FROM THE CITY OF HAMMOND AND CONTRIBUTIONS FROM AREA BUSINESSES...
HDC EXPANDED ITS SMALL BUSINESS INCUBATOR PLAN BY ACQUIRING ABANDONED AND VACANT BUILDINGS IN THE DOWNTOWN HAMMOND AREA THROUGH GRANTS FROM THE CITY OF HAMMOND AND CONTRIBUTIONS FROM AREA BUSINESSES. HDC REHABILITATED CERTAIN BUILDINGS TO MAKE USEABLE BUSINESS SPACE AVAILABLE THROUGH RENTAL AGREEMENTS AND OUTRIGHT SALES TO FLEDGLING BUSINESSES THAT ARE NOT ABLE TO AFFORD SUCH SPACE AT CURRENT MARKET PRICES, NOR WOULD THE BUSINESSES BE ABLE TO AFFORD TO RENOVATE THE ABANDONED SPACES TO MAKE THEM BUSINESS READY. ONE OF HDC'S MAIN INITIATIVES HAS BEEN TO ATTRACT NEW HIGH-TECH INTERNET START-UP FIRMS TO DOWNTOWN HAMMOND TO REPLACE AND SUPPLEMENT THE RUST BELT INDUSTRIES THAT ONCE AND STILL DOMINATE THE LOCAL ECONOMY.ON JULY 1, 1997, HDC CREATED ITS BUSINESS BUILDERS PROGRAM TO SUPPORT THE CITY OF HAMMOND'S "INCUBATOR PLAN". THE PURPOSE OF THE INCUBATOR PLAN IS TO ASSIST HAMMOND-BASED WOMEN AND MINORITY OWNED BUSINESS ENTERPRISES. THE PROGRAM INCLUDES A REVOLVING LOAN ARRANGEMENT AND EDUCATIONAL PROGRAMS AND ACTIVITIES.
ON JUNE 12, 2018, GRANTS PROVIDED BY HAMMOND PORT AUTHORITY AND THE CITY OF HAMMOND WERE PLACED INTO A RESTRICTED ACCOUNT FOR THE USE OF MANAGING CERTAIN VISUAL AND PERFORMING MUSICAL AND...
ON JUNE 12, 2018, GRANTS PROVIDED BY HAMMOND PORT AUTHORITY AND THE CITY OF HAMMOND WERE PLACED INTO A RESTRICTED ACCOUNT FOR THE USE OF MANAGING CERTAIN VISUAL AND PERFORMING MUSICAL AND ENTERTAINMENT ACTS AT THE WOLF LAKE PAVILION IN HAMMOND, INDIANA. THIS PROGRAM ENCOURAGES TOURISM WITH THE PROVISION OF FREE CONCERT EVENTS. THE PURPOSE OF THE GRANT IS THE INTENTION THAT REVENUE FROM THE MUSICAL AND ENTERTAINMENT ACTS WILL REPLENISH AND WILL CONTINUE TO BE USED FOR THIS PURPOSE IN PERPETUITY.
ON OCTOBER 1, 2010, HDC TOOK OVER THE HAMMOND INNOVATION CENTER (HIC) FROM PURDUE UNIVERSITY CALUMET TO SUPPORT THE CITY OF HAMMOND'S MAIN INITIATIVE OF ATTRACTING NEW HIGH-TECH START-UP FIRMS TO...
ON OCTOBER 1, 2010, HDC TOOK OVER THE HAMMOND INNOVATION CENTER (HIC) FROM PURDUE UNIVERSITY CALUMET TO SUPPORT THE CITY OF HAMMOND'S MAIN INITIATIVE OF ATTRACTING NEW HIGH-TECH START-UP FIRMS TO DOWNTOWN HAMMOND. THE PROGRAM INCLUDES PROVIDING COMPETITIVELY PRICED OFFICE SPACE INCLUDING A BUILT-IN INFRASTRUCTURE OF SERVICES AS WELL AS THE NECESSARY BUSINESS RESOURCES TO ASSIST IN THE SUCCESSFUL OPERATION OF START-UP BUSINESSES.THE HUB OF INNOVATION IS AN EXTENSION OF THE HAMMOND INNOVATION CENTER BUT IS A NEW AVENUE FOR CULTIVATING BUSINESS AND JOB CREATION THROUGH INTERNSHIP OPPORTUNITIES. THIS SITE FOCUSES ON INTRODUCING UNIVERSITY INTERNS TO BUSINESS TENANTS AND CONTRACT PARTNERSHIPS.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 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% |
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
Sign In| 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 |
| 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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