KNOX COUNTY DEVELOPMENT CORPORATION

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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

1977

Legal Domicile

Principal Officer

KENNETH SPRINGER

Phone

3093431194

Tax Period

2024-01-01 to 2024-12-31

KNOX COUNTY DEVELOPMENT CORPORATION, founded in 1977, is a micro nonprofit that reported $19K in total revenue in fiscal year 2024. The organization ran a surplus of $12K, a strong 63% operating margin.

Mission

TO PROMOTE ECONOMIC DEVELOPMENT IN KNOX COUNTY, ILLINOIS.

Program Service Accomplishments

Program 1

INVESTMENT AND DEVELOPMENT OF BUSINESS PARK IN WHICH THE DEVELOPED LAND IS TO BE PROMOTED AND SOLD TO BUSINESSES TO PROMOTE ECONOMIC DEVELOPMENT IN THE KNOX COUNTY ILLINOIS AREA.

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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 $0

Program Service Revenue $19,202

Investment Income $63

Other Revenue $0

TOTAL REVENUE $19,265

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $7,204

TOTAL EXPENSES $7,204

Year-over-Year Comparison

	2024	2023	Change
Revenue	$19,265	$19,267	0.0%
Expenses	$7,204	$7,536	0.0%
Net Income	$12,061	$11,731	+0.0%

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

$141,615

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM VITALE	BOARD CHAIR	0.25	Officer Director	$0	$0	$0
JOSH GIBB	BOARD VICE CHAIR	0.25	Officer Director	$0	$0	$0
C ANDREW MCGADNEY	BOARD TREASURER	0.25	Officer Director	$0	$0	$0
JOHN PRITCHARD	BOARD MEMBER	0.25	Director	$0	$0	$0
BECKY KING	BOARD MEMBER	0.25	Director	$0	$0	$0
SARA YEMM-WITHERELL	BOARD MEMBER	0.25	Director	$0	$0	$0
SEAMUS REILLY	BOARD MEMBER	0.25	Director	$0	$0	$0
DOUG HANKES	BOARD MEMBER (FROM NOVEMBER 2024)	0.25	Director	$0	$0	$0
DOUG SANDERS	BOARD MEMBER (FROM NOVEMBER 2024)	0.25	Director	$0	$0	$0
MARSHALL SCHRADER	BOARD MEMBER (FROM NOVEMBER 2024)	0.25	Director	$0	$0	$0
JOHN ASPLUND	BOARD MEMBER (FROM NOVEMBER 2024)	0.25	Director	$0	$0	$0
ERIC HANSON	BOARD MEMBER	0.25	Director	$0	$0	$0
PETER SCHWARTZMAN	BOARD MEMBER	0.25	Director	$0	$0	$0
JARED HAWKINSON	BOARD MEMBER	0.25	Director	$0	$0	$0
KEN SPRINGER	PRESIDENT	1.00	Officer	$0	$11,835	$141,615

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	$19,265	$7,204	$1,233,036	$12,061
2023	$19,267	$7,536	$1,220,975	$11,731
2022	$20,972	$8,683	$1,209,299	$12,289
2021	$27,815	$14,883	$1,197,005	$12,932
2020	$25,611	$13,415	$1,184,025	$12,196
2019	$25,762	$13,898	$1,173,286	$11,864
2018	$26,180	$13,597	$1,159,965	$12,583