MACOMB AREA ECONOMIC DEVELOPMENT CORP (EIN 371136537) - 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

1985

Legal Domicile

Principal Officer

JAY GRISWOLD

Phone

3098374684

Tax Period

2024-01-01 to 2024-12-31

MACOMB AREA ECONOMIC DEVELOPMENT CORP, founded in 1985, is a small nonprofit that reported $190K in total revenue in fiscal year 2024. Expenses of $220K exceeded revenue, resulting in a 16% operating deficit.

Mission

PROMOTE DEVELOPMENT OF NEW AND EXITING INDUSTRIES

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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 $176,382

Program Service Revenue $0

Investment Income $6,312

Other Revenue $6,994

TOTAL REVENUE $189,688

Expense Breakdown

Grants Paid $0

Salaries & Benefits $127,883

Fundraising Expenses $0

Program Expenses $219,683

Other Expenses $91,800

TOTAL EXPENSES $219,683

Year-over-Year Comparison

	2024	2023	Change
Revenue	$189,688	$190,148	0.0%
Expenses	$219,683	$175,707	+0.3%
Net Income	$-29,995	$14,441	-3.1%

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

$85,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KIM PIERCE	PRESIDENT/CEO	40.00	Director	$85,000	$0	$85,000
JAY GRISWOLD	PRESIDENT	5.00	Officer	$0	$0	$0
TIM O'HERN	VICE-PRESIDENT	5.00	Officer	$0	$0	$0
JOHN ARMSTRONG	TREASURER	5.00	Officer	$0	$0	$0
TODD LESTER	SECRETARY	5.00	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	No data	No data	No data	No data
2024	$189,688	$219,683	$986,562	$-29,995
2023	$190,148	$175,707	$1,021,217	$14,441
2022	$197,186	$203,765	$1,005,548	$-6,579
2021	$219,003	$201,900	$1,013,110	$17,103
2020	$194,518	$193,510	$1,014,513	$1,008
2019	$191,268	$196,874	$1,043,966	$-5,606
2018	$178,044	$216,934	$1,119,465	$-38,890

MACOMB AREA ECONOMIC DEVELOPMENT CORP