CARROLL COUNTY ECONOMIC DEVELOPMEN… - Form 990 Financial Data

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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

1987

Legal Domicile

Principal Officer

BRET RINEHART

Phone

7655642060

Tax Period

2024-01-01 to 2024-12-31

CARROLL COUNTY ECONOMIC DEVELOPMENT CORP, founded in 1987, is a small nonprofit that reported $833K in total revenue in fiscal year 2024. Revenue fell 20% from the prior year — a significant decline worth monitoring. Expenses of $1.6M exceeded revenue, resulting in a 90% operating deficit.

Mission

TO PROMOTE ECONOMIC DEVELOPMENT IN CARROLL COUNTY

Program Service Accomplishments

Program 1

Expenses: $157,010 Revenue: $241,556

TO PROMOTE THE ECONOMIC WELL BEING OF THE COMMUNITY AND TO ENHANCE THE TAX BASE

Program 2

Expenses: $777,100

TO PROMOTE THE DEVELOPMENT OF BROADBAND INFRASTRUCTURE AND A BROADBAND HIGH-SPEED INTERNET RING WITHIN THE PERIMETER OF CARROLL COUNTY TO SERVE LOW POPULATION DENSITY AREAS.

Program 3

Expenses: $500,000 Revenue: $500,000

TO PROMOTE CHILDCARE CAPACITY IN CARROLL COUNTY SO FAMILIES HAVE BETTER ACCESS TO QUALITY CHILDCARE.

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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 $7,499

Program Service Revenue $741,556

Investment Income $79,258

Other Revenue $4,517

TOTAL REVENUE $832,830

Expense Breakdown

Grants Paid $10,000

Salaries & Benefits $168,245

Fundraising Expenses $0

Program Expenses $1,444,110

Other Expenses $1,404,226

TOTAL EXPENSES $1,582,471

Year-over-Year Comparison

	2024	2023	Change
Revenue	$832,830	$1,042,366	-0.2%
Expenses	$1,582,471	$273,692	+4.8%
Net Income	$-749,641	$768,674	-2.0%

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

Total Directors

$90,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACOB ADAMS	EXECUTIVE DI	40.00	Director	$90,000	$0	$90,000
BRET RINEHART	PRESIDENT	5.00	Officer Director	$0	$0	$0
KENNETH WALTON	VICE PRESIDE	5.00	Officer Director	$0	$0	$0
JULIA LEAHY	SECRETARY	5.00	Officer Director	$0	$0	$0
DR GREGORY NORMAN	TREASURER	5.00	Officer Director	$0	$0	$0
KEITH SCHULTZ	DIRECTOR	2.00	Director	$0	$0	$0
JOSH PLUE	DIRECTOR	2.00	Director	$0	$0	$0
MIKE WILLIAMS	DIRECTOR	2.00	Director	$0	$0	$0
SHANNON RILEY	DIRECTOR	2.00	Director	$0	$0	$0
KENDAL ROSS	DIRECTOR	2.00	Director	$0	$0	$0
ERIC ROSS	DIRECTOR	2.00	Director	$0	$0	$0
SCOT ORTMAN	DIRECTOR	2.00	Director	$0	$0	$0
MIRIAM ROBESON	BOARD COUNSE	2.00	Director	$0	$0	$0
ANITA WERLING	DIRECTOR	2.00	Director	$0	$0	$0
JOE MOSS	DIRECTOR	2.00	Director	$0	$0	$0
LAURIE BROWER	DIRECTOR	2.00	Director	$0	$0	$0
KAREN MCLEAN	DIRECTOR/COR	2.00	Director	$0	$0	$0
KAMRON YATES	DIRECTOR/EX-	2.00	Director	$0	$0	$0
KEITH THACKERY	DIRECTOR/SCH	2.00	Director	$0	$0	$0
LINDSEY BROWN	DIRECTOR/SCH	2.00	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	$832,830	$1,582,471	$1,254,025	$-749,641
2023	$1,042,366	$273,692	$2,016,166	$768,674
2022	$271,465	$249,459	$1,247,492	$22,006
2021	$242,434	$215,643	$1,225,486	$26,791
2020	$326,903	$180,826	$1,198,695	$146,077
2019	$32,102	$249,896	$1,052,618	$-217,794

CARROLL COUNTY ECONOMIC DEVELOPMENT CORP