ROCKFORD AREA ECONOMIC DEVELOPMENT COUNCIL INC (EIN 363055858) - 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

1980

Legal Domicile

Principal Officer

MICHAEL GRONEWOLD

Phone

8159878100

Tax Period

2023-01-01 to 2023-12-31

ROCKFORD AREA ECONOMIC DEVELOPMENT COUNCIL INC, founded in 1980, is a small nonprofit that reported $677K in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $169K, a strong 25% operating margin.

Mission

THE ROCKFORD AREA ECONOMIC DEVELOPMENT COUNCIL CULTIVATES OPPORTUNITIES FOR PRIMARY JOB GROWTH THAT INCREASE THE ECONOMIC WELL-BEING OF OUR REGION

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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 $647,410

Program Service Revenue $0

Investment Income $265

Other Revenue $29,284

TOTAL REVENUE $676,959

Expense Breakdown

Grants Paid $0

Salaries & Benefits $313,479

Fundraising Expenses $0

Other Expenses $194,484

TOTAL EXPENSES $507,963

Year-over-Year Comparison

	2023	2022	Change
Revenue	$676,959	$588,661	+0.1%
Expenses	$507,963	$1,180,644	-0.6%
Net Income	$168,996	$-591,983	-1.3%

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

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

$128,128

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WENDY ALSTEEN	DIRECTOR	5.00	Director	$0	$0	$0
CHRISTOPHER ANDERSON	DIRECTOR	5.00	Director	$0	$0	$0
DAVID ANSPAUGH	DIRECTOR	5.00	Director	$0	$0	$0
EDWARD BERG	DIRECTOR	5.00	Director	$0	$0	$0
CONOR BROWN	DIRECTOR	5.00	Director	$0	$0	$0
SULLY CADENGA	DIRECTOR	5.00	Director	$0	$0	$0
GINA CARONNA	DIRECTOR	5.00	Director	$0	$0	$0
ERIC CUNNINGHAM	DIRECTOR	5.00	Director	$0	$0	$0
REBECCA EPPERSON	DIRECTOR	5.00	Director	$0	$0	$0
DAVID FORWARD	DIRECTOR	5.00	Director	$0	$0	$0
KARL FRANZEN	DIRECTOR	5.00	Director	$0	$0	$0
GEORGE GAULRAPP	DIRECTOR	5.00	Director	$0	$0	$0
DAN GIOVANETTI	VICE CHAIR	5.00	Officer Director	$0	$0	$0
ALAN GOLDEN	DIRECTOR	5.00	Director	$0	$0	$0
THOMAS GREEN	DIRECTOR	5.00	Director	$0	$0	$0
JOHN GROH	DIRECTOR	5.00	Director	$0	$0	$0
MICHAEL GRONEWOLD	SECRETARY/TR	5.00	Officer Director	$0	$0	$0
CAITLIN PUSATERI	DIRECTOR	5.00	Director	$0	$0	$0
JAMES RICHTER II	DIRECTOR	5.00	Director	$0	$0	$0
JAMES ROZINSKY	CHAIR	5.00	Officer Director	$0	$0	$0
GRANT SJOSTROM	DIRECTOR	5.00	Director	$0	$0	$0
THERESE THILL	PRESIDENT/CE	40.00	Officer	$0	$19,129	$128,128

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
2023	$676,959	$507,963	No data	$168,996
2022	$588,661	$1,180,644	$393,923	$-591,983
2021	$987,648	$971,261	$522,903	$16,387
2020	$1,237,789	$1,303,779	$547,217	$-65,990
2019	$1,496,100	$1,575,145	$752,724	$-79,045

ROCKFORD AREA ECONOMIC DEVELOPMENT COUNCIL INC