MEMORIAL COMMUNITY DEVELOPMENT CORPORATION

EIN: 351962979 501(c)(3) Human Services

Evansville, IN

Total Revenue
$5,457,912
Total Expenses
$3,733,909
Total Assets
$8,357,698
Net Assets
$7,946,381
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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
2003
Legal Domicile
IN
Principal Officer
SERITA CABELL
Phone
8124232500
Tax Period
2024-01-01 to 2024-12-31

MEMORIAL COMMUNITY DEVELOPMENT CORPORATION, founded in 2003, is a community nonprofit in the Human Services sector that reported $5.5M in total revenue in fiscal year 2024. Revenue surged 51% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.7M, a strong 32% operating margin.

Mission

THE DEVELOPMENT AND MANAGEMENT OF LOW INCOME HOUSING AND ECONOMIC DEVELOPMENT.

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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 (2024)

Revenue Breakdown

Contributions & Grants $3,936,963
Program Service Revenue $1,429,455
Investment Income $36,472
Other Revenue $55,022
TOTAL REVENUE $5,457,912

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,018,986
Fundraising Expenses $0
Program Expenses $3,733,909
Other Expenses $2,679,980
TOTAL EXPENSES $3,733,909

Year-over-Year Comparison

2024 2023 Change
Revenue $5,457,912 $3,616,446 +0.5%
Expenses $3,733,909 $3,375,776 +0.1%
Net Income $1,724,003 $240,670 +6.2%
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

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Governance

Voting Members
7
Independent Members
6
Employees
108
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
4
$106,760
Total Directors
4
$78,992
Key Employees
1
$78,992
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ADRIAN BROOKS CHAIRMAN 040.00
Officer Highest
$106,760 $0 $106,760
SERITA CABELL EXECUTIVE DIRECTOR 040.00
Director Key Emp
$78,992 $0 $78,992
TALMADGE VICK II BOARD MEMBER 002.00
Director
$0 $0 $0
SHAYLA OSBORNE BOARD MEMBER 002.00
Director
$0 $0 $0
ARLINDA PAYNE BOARD MEMBER 002.00
Director
$0 $0 $0
ROBERT MCNARY VICE CHAIR 005.00
Officer
$0 $0 $0
MARCIA LYNCH-DUNCAN SECRETARY 002.00
Officer
$0 $0 $0
ANGEL BROOKS TREASURER 005.00
Officer
$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 $5,457,912 $3,733,909 $8,357,698 $1,724,003
2023 $3,616,446 $3,375,776 $6,014,028 $240,670
2022 $2,891,956 $3,009,211 $6,275,753 $-117,255
2021 $2,463,958 $2,315,673 $6,073,040 $148,285
2020 $2,246,134 $1,923,593 $5,346,247 $322,541
2019 $3,176,798 $2,053,684 $5,119,952 $1,123,114
2018 $1,710,878 $1,630,661 $3,707,048 $80,217
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