TIMBER LAKE & AREA DEVELOPMENT INC

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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

1989

Legal Domicile

Principal Officer

CORRINE HUBER

Phone

6058483099

Tax Period

2024-01-01 to 2024-12-31

TIMBER LAKE & AREA DEVELOPMENT INC, founded in 1989, is a small nonprofit in the Community Improvement sector that reported $249K in total revenue in fiscal year 2024. Revenue decreased 20% compared to the prior year. Expenses of $299K exceeded revenue, resulting in a 20% operating deficit.

Mission

PROMOTE ECONOMIC DEVELOPMENT IN RURAL AREA.

Program Service Accomplishments

Program 1

Expenses: $163,856 Revenue: $135,261

OPENED A COMMUNITY DAYCARE FACILITY. THIS FACILITY IS OPEN TO ALL PERSONS AND PROVIDES MUCH NEEDED DAYCARE SERVICES IN THE AREA - CAPCITY 16 CHILDREN.

Program 2

Expenses: $60,299

TO PROVIDE COMMUNITY LEADERSHIP THAT WILL ENCOURAGE AND WORK FOR ECONOMIC GROWTH IN BUSINESS, INDUSTRY AND TOURISM, THEREBY, ENHANCING THE QUALITY OF LIFE IN THE AREA WE SERVE.

Program 3

Expenses: $74,396 Revenue: $84,367

PURCHASED AND RENOVATED APARTMENT BUILDINGS FOR MULTI-FAMILY HOUSING WITHIN THE COMMUNITY. THERE ARE EIGHTEEN UNITS IN THE BUILDINGS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $24,695

Program Service Revenue $219,628

Investment Income $1,197

Other Revenue $3,012

TOTAL REVENUE $248,532

Expense Breakdown

Grants Paid $37,044

Salaries & Benefits $125,963

Fundraising Expenses $0

Program Expenses $298,551

Other Expenses $135,544

TOTAL EXPENSES $298,551

Year-over-Year Comparison

	2024	2023	Change
Revenue	$248,532	$309,818	-0.2%
Expenses	$298,551	$408,734	-0.3%
Net Income	$-50,019	$-98,916	-0.5%

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

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
STEVE ABERLE	DIRECTOR	N/A	Director	$0	$0	$0
JACE BOOTH	DIRECTOR	N/A	Director	$0	$0	$0
BARBARA GROSS	DIRECTOR	N/A	Director	$0	$0	$0
JOE SCHERER	VICE PRESIDE	N/A	Director	$0	$0	$0
RUSTY GEBHARDT	PRESIDENT	N/A	Officer	$0	$0	$0
KRISTEN GILL	SECRETARY	N/A	Officer	$0	$0	$0
CORRINE HUBER	TREASURER	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
2024	$248,532	$298,551	$909,542	$-50,019
2023	$309,818	$408,734	$652,251	$-98,916
2022	$282,752	$260,856	$721,555	$21,896
2021	$242,800	$263,675	$616,290	$-20,875
2020	$286,494	$254,648	$638,436	$31,846
2019	$259,453	$225,762	$612,648	$33,691
2018	$221,165	$240,932	$592,931	$-19,767