FULTON ECONOMIC DEVELOPMENT CORP

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2010

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

FULTON ECONOMIC DEVELOPMENT CORP, founded in 2010, is a small nonprofit in the Community Improvement sector that reported $708K in total revenue in fiscal year 2023. Net assets of $1.5M represent 25 months of operating reserves.

Mission

TO DEVELOP BUSINESS AND INDUSTRY WITHIN FULTON COUNTY.

Program Service Accomplishments

Program 1

Expenses: $631,829 Revenue: $15,560

TO ASSIST IN THE DEVELOPMENT AND EXPANSION OF SMALL BUSINESS AND INDUSTRY IN FULTON COUNTY, INDIANA IN ORDER TO REDUCE UNEMPLOYMENT AND UNDER-EMPLOYMENT.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $691,963

Program Service Revenue $8,557

Investment Income $0

Other Revenue $7,003

TOTAL REVENUE $707,523

Expense Breakdown

Grants Paid $0

Salaries & Benefits $209,446

Fundraising Expenses $0

Program Expenses $631,829

Other Expenses $517,441

TOTAL EXPENSES $726,887

Year-over-Year Comparison

	2023	2022	Change
Revenue	$707,523	$735,312	0.0%
Expenses	$726,887	$632,154	+0.1%
Net Income	$-19,364	$103,158	-1.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL LADD	EXECUTIVE DIRECTOR	40.00	Highest	$64,167	$15,659	$79,826
TIFFANY FUTRELL	FORMER DIRECTOR	40.00		$3,240	$821	$4,061
LISA REFFETT	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL RICH	DIRECTOR	1.00	Director	$0	$0	$0
ORVILLE HANEY	DIRECTOR	1.00	Director	$0	$0	$0
JANA VANCE	DIRECTOR	1.00	Director	$0	$0	$0
ALAN FISHER	DIRECTOR	1.00	Director	$0	$0	$0
DAVID HEYDE	PAST PRESIDENT	1.00	Director	$0	$0	$0
BRIAN GOODMAN	DIRECTOR	1.00	Director	$0	$0	$0
JILLIAN SMITH	DIRECTOR	1.00	Director	$0	$0	$0
JASON GRUBE	PRESIDENT	3.00	Officer Director	$0	$0	$0
MICHELLE MILLION	SECTREASURER	12.00	Officer Director	$0	$0	$0
ANDREW HORSTMAN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
RANDY GUNDRUM	EX OFFICIO	1.00		$0	$0	$0
MARK MCCALL	EX OFFICIO	1.00		$0	$0	$0
DAVID HEYDE	EX OFFICIO	1.00		$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	$707,523	$726,887	$1,822,082	$-19,364
2022	$735,312	$632,154	$1,509,505	$103,158
2021	$911,441	$833,564	$1,404,412	$77,877
2020	$911,123	$794,459	$1,302,187	$116,664
2019	$530,234	$545,139	$1,186,683	$-14,905
2018	$648,981	$625,076	$1,199,488	$23,905