MCHENRY COUNTY ECONOMIC DEVELOPMENT CORPORATON (EIN 363849857) - 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

1992

Legal Domicile

Principal Officer

STEPHEN BALLOT

Phone

8158930895

Tax Period

2023-01-01 to 2023-12-31

MCHENRY COUNTY ECONOMIC DEVELOPMENT CORPORATON, founded in 1992, is a small nonprofit that reported $350K in total revenue in fiscal year 2023.

Mission

TO PROMOTE THE ECONOMIC HEALTH OF McHENRY COUNTY, IL THROUGH RETENTION, EXPANSION AND ATTRACTION OF COMMERCE AND INDUSTRY WHICH IS CONDUCIVE TO AN OPTIMAL QUALITY OF LIFE FOR ITS CITIZEN

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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 $258,763

Program Service Revenue $90,675

Investment Income $0

Other Revenue $575

TOTAL REVENUE $350,013

Expense Breakdown

Grants Paid $0

Salaries & Benefits $292,301

Fundraising Expenses $33,438

Other Expenses $48,829

TOTAL EXPENSES $383,548

Year-over-Year Comparison

	2023	2022	Change
Revenue	$350,013	$335,863	+0.0%
Expenses	$383,548	$350,321	+0.1%
Net Income	$-33,535	$-14,458	+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

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

Total Directors

$105,981

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES McCONOUGHY	Executive Dir.	40.00	Director	$105,981	$0	$105,981
SHANE NERBY	Director	1.50	Director	$0	$0	$0
STEVE RANKINS	Treasurer	3.00	Officer Director	$0	$0	$0
SHARMELLA HARRIS	Director	1.50	Director	$0	$0	$0
STEPHEN BALLOT	Chairman	3.00	Officer Director	$0	$0	$0
PETER AUSTIN	Director	2.00	Director	$0	$0	$0
RICHARD MACK	Director	1.50	Director	$0	$0	$0
JOHN McCANN	Director	1.50	Director	$0	$0	$0
JONATHAN KAMAN	Director	1.50	Director	$0	$0	$0
DR CLINTON GABBARD	Director	1.50	Director	$0	$0	$0
JENI HALLATT	Director	1.50	Director	$0	$0	$0
COLLEEN ROOS	Secretary	1.50	Officer Director	$0	$0	$0
HEATHER MAIERITSCH	Director	1.50	Director	$0	$0	$0
MICHAEL SKALA	Vice Chairman	1.50	Officer Director	$0	$0	$0
KEVIN THURSTON	Director	1.50	Director	$0	$0	$0
PETER SCHOLL	Director	1.50	Director	$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	No data	No data	No data	No data
2023	$350,013	$383,548	$21,791	$-33,535
2022	$335,863	$350,321	$56,391	$-14,458
2021	$381,320	$358,830	$71,248	$22,490
2020	$305,815	$346,612	$48,354	$-40,797
2019	$378,914	$400,983	$89,865	$-22,069
2018	$321,970	$336,683	$112,259	$-14,713

MCHENRY COUNTY ECONOMIC DEVELOPMENT CORPORATON