GREATER LAPORTE ECONOMIC DEVELOPMENT CORPORATION (EIN 352146258) - Form 990 Financial Analysis & Trantor Score

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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

2002

Legal Domicile

Principal Officer

HUBERT COOK III

Phone

2193248584

Tax Period

2025-01-01 to 2025-12-31

GREATER LAPORTE ECONOMIC DEVELOPMENT CORPORATION, founded in 2002, is a small nonprofit in the Community Improvement sector that reported $304K in total revenue in fiscal year 2025. Net assets of $926K represent 37 months of operating reserves.

Mission

TO RECRUIT NEW BUSINESS AND INDUSTRY INTO THE LAPORTE COUNTY AREA AND COMBAT COMMUNITY DETERIORATION BY PROMOTING STABILITY, GROWTH, AND DEVELOPMENT OF BUSINESS AND INDUSTRY.

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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 (2025)

Revenue Breakdown

Contributions & Grants $238,487

Program Service Revenue $0

Investment Income $44,011

Other Revenue $21,300

TOTAL REVENUE $303,798

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $143,331

Other Expenses $295,754

TOTAL EXPENSES $295,754

Year-over-Year Comparison

	2025	2024	Change
Revenue	$303,798	$287,633	+0.1%
Expenses	$295,754	$264,601	+0.1%
Net Income	$8,044	$23,032	-0.7%

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

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CINDY ADMAVE	BOARD MEMBER	N/A	Director	$0	$0	$0
MAYOR TOM DERMODY	CHAIRMAN	N/A	Officer Director	$0	$0	$0
TONY KAZAKEVICIUS	BOARD MEMBER	N/A	Director	$0	$0	$0
CHRIS MAHLMANN	BOARD MEMBER	N/A	Director	$0	$0	$0
NICK OTIS	BOARD MEMBER	N/A	Director	$0	$0	$0
MIKE SCHULTZ	SECRETARY/TR	N/A	Director	$0	$0	$0
SANDRA WOOD	CHAIRMAN ELE	N/A	Officer Director	$0	$0	$0
HUBERT COOK III	EXEC. DIRECT	N/A	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
2025	$303,798	$295,754	$931,311	$8,044
2024	$287,633	$264,601	$950,289	$23,032
2023	$266,999	$257,454	$1,003,787	$9,545
2022	$197,789	$260,487	$1,065,289	$-62,698
2021	$320,018	$278,103	$1,054,507	$41,915
2020	$403,711	$295,264	$916,391	$108,447

GREATER LAPORTE ECONOMIC DEVELOPMENT CORPORATION