MATTOON AREA INDUSTRIAL DEVELOPMENT

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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

1963

Legal Domicile

Principal Officer

ALEX HAGEN

Phone

2172355661

Tax Period

2023-01-01 to 2023-12-31

MATTOON AREA INDUSTRIAL DEVELOPMENT, founded in 1963, is a micro nonprofit that reported $17K in total revenue in fiscal year 2023. Revenue surged 35% from the prior year, signaling strong growth momentum. Expenses of $850K exceeded revenue, resulting in a 4997% operating deficit.

Mission

TO ENCOURAGE, PROMOTE, AID AND ASSIST THE INDUSTRIAL AND COMMERCIAL ECONOMIC WELFARE AND GROWTH OF THE CITY OF MATTOON, ILLINOIS AND OF THE INDUSTRIES AND BUSINESSES LOCATED IN THE CITY OF MATTOON.

Program Service Accomplishments

Program 1

THE MATTOON AREA INDUSTRIAL DEVELOPMENT (MAID) BOARD IS PLEDGED SUPPORT TO MUTLIPLE ORGANIZATIONS AFTER DECIDING TO BEGIN DISSOLUTION PROCESSES.

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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 $0

Program Service Revenue $0

Investment Income $16,685

Other Revenue $0

TOTAL REVENUE $16,685

Expense Breakdown

Grants Paid $850,000

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $383

TOTAL EXPENSES $850,383

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,685	$12,400	+0.3%
Expenses	$850,383	$1,569	+541.0%
Net Income	$-833,698	$10,831	-78.0%

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

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
ED DOWD	SECRETARY	1.00	Officer Director	$0	$0	$0
ALEX HAGEN	TREASURER	1.00	Officer Director	$0	$0	$0
AL VOLK	DIRECTOR	1.00	Director	$0	$0	$0
JOHN HEDGES	DIRECTOR	1.00	Director	$0	$0	$0
PRESTON SMITH	DIRECTOR	1.00	Director	$0	$0	$0
BOB GRIERSON	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW SMITH	PRESIDENT	1.00	Officer Director	$0	$0	$0
RICK HALL	DIRECTOR	1.00	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
2023	$16,685	$850,383	No data	$-833,698
2022	$12,400	$1,569	$833,698	$10,831
2021	$165,474	$1,395	$822,867	$164,079
2020	$43,271	$72,285	$663,281	$-29,014
2019	$40,290	$28,730	$692,295	$11,560
2018	$33,441	$27,376	$680,735	$6,065