ECONOMIC DEVELOPMENT CORPORATION O… - 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

1993

Legal Domicile

Principal Officer

VALERIE SHAFFER

Phone

7659834769

Tax Period

2023-01-01 to 2023-12-31

ECONOMIC DEVELOPMENT CORPORATION OF WAYNE COUNTY INDIANA, founded in 1993, is a small nonprofit in the Community Improvement sector that reported $826K in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $734K left a modest 11% surplus.

Mission

TO PROMOTE AND SUPPORT ECONOMIC DEVELOPMENT, GROWTH AND EXPANSION WITHIN THE WAYNE COUNTY, INDIANA AREA.

Program Service Accomplishments

Program 1

Expenses: $544,187

PROMOTE AND SUPPORT ECONOMIC DEVELOPMENT, GROWTH AND EXPANSION WITHIN THE WAYNE COUNTY, INDIANA AREA

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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 (2023)

Revenue Breakdown

Contributions & Grants $825,920

Program Service Revenue $0

Investment Income $356

Other Revenue $0

TOTAL REVENUE $826,276

Expense Breakdown

Grants Paid $17,500

Salaries & Benefits $452,306

Fundraising Expenses $0

Program Expenses $544,187

Other Expenses $264,080

TOTAL EXPENSES $733,886

Year-over-Year Comparison

	2023	2022	Change
Revenue	$826,276	$724,293	+0.1%
Expenses	$733,886	$658,969	+0.1%
Net Income	$92,390	$65,324	+0.4%

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

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

$140,646

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JIM KING	DIRECTOR	1.00	Director	$0	$0	$0
JIM TANNER	TREASURER	1.00	Officer Director	$0	$0	$0
BRAD ROBINSON	DIRECTOR	1.00	Director	$0	$0	$0
PEGGY CENOVA	DIRECTOR	1.00	Director	$0	$0	$0
PETE ZALESKI	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KYLE TURNER	SECRETARY	1.00	Officer Director	$0	$0	$0
CHAD BOLSER	DIRECTOR	1.00	Director	$0	$0	$0
SHERRILYN JOHNSON	CHAIR	1.00	Officer Director	$0	$0	$0
ANN FENNIMORE	DIRECTOR	1.00	Director	$0	$0	$0
MIKE GADDIS	DIRECTOR	1.00	Director	$0	$0	$0
MARTY VANDERBURGT	DIRECTOR	1.00	Director	$0	$0	$0
TONY FOSTER	DIRECTOR	1.00	Director	$0	$0	$0
VALERIE SHAFFER	PRESIDENT	40.00	Officer	$126,173	$14,473	$140,646

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	$826,276	$733,886	$131,868	$92,390
2022	$724,293	$658,969	$96,102	$65,324
2021	$724,963	$603,377	$158,208	$121,586
2020	$675,702	$571,187	$120,476	$104,515
2019	$666,788	$567,173	$160,650	$99,615
2018	$634,147	$560,783	$112,206	$73,364

ECONOMIC DEVELOPMENT CORPORATION OF WAYNE COUNTY INDIANA