VERNON ECONOMIC DEVELOPMENT ASSOCI… - Form 990 Financial Data

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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

2006

Legal Domicile

Principal Officer

STACI PIEPER

Phone

6086388332

Tax Period

2024-01-01 to 2024-12-31

VERNON ECONOMIC DEVELOPMENT ASSOCIATION INC, founded in 2006, is a small nonprofit in the Community Improvement sector that reported $403K in total revenue in fiscal year 2024. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $483K exceeded revenue, resulting in a 20% operating deficit.

Mission

TO CREATE ECONOMIC WEALTH AND PROSPERITY THROUGH PROVIDING NEW AND EXISTING BUSINESSES WITH EDUCATIONAL AND TECHNICAL ASSISTANCE, WHILE PRESERVING THE RURAL VERNON COUNTY LIFESTYLE.

Program Service Accomplishments

Program 1

Expenses: $421,941 Revenue: $294,259

SUPPORT ENTREPRENEURSHIP AND THE DEVELOPMENT OF NEW BUSINESSES. FOSTER THE RETENTION AND EXPANSION OF EXISTING BUSINESSES. RECRUIT NEW BUSINESSES TO THE COUNTY. PROVIDE EDUCATIONAL FORUMS AND...

SUPPORT ENTREPRENEURSHIP AND THE DEVELOPMENT OF NEW BUSINESSES. FOSTER THE RETENTION AND EXPANSION OF EXISTING BUSINESSES. RECRUIT NEW BUSINESSES TO THE COUNTY. PROVIDE EDUCATIONAL FORUMS AND TECHNICAL ASSISTANCE AND PROMOTE JOB TRAINING AND EDUCATION OF THE LABOR FORCE. SERVE AS A CENTRAL SOURCE OF ASSISTANCE, INFORMATION, AND RESOURCES TO SUPPORT ECONOMIC DEVELOPMENT.

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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 $103,905

Program Service Revenue $294,259

Investment Income $4,014

Other Revenue $562

TOTAL REVENUE $402,740

Expense Breakdown

Grants Paid $0

Salaries & Benefits $109,502

Fundraising Expenses $0

Program Expenses $421,941

Other Expenses $373,997

TOTAL EXPENSES $483,499

Year-over-Year Comparison

	2024	2023	Change
Revenue	$402,740	$544,150	-0.3%
Expenses	$483,499	$456,885	+0.1%
Net Income	$-80,759	$87,265	-1.9%

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

$88,080

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STACI PIEPER	PRESIDENT	3.00	Officer Director	$0	$0	$0
TRINA ERICKSON	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
KAY BUCK	TREASURER	3.00	Officer Director	$0	$0	$0
CRYSTAL KINNUNEN	SECRETARY	2.00	Officer Director	$0	$0	$0
ROB ANDOLSEK	DIRECTOR	1.00	Director	$0	$0	$0
MIKE BRECKEL	DIRECTOR	1.00	Director	$0	$0	$0
HETTI BROWN	DIRECTOR	1.00	Director	$0	$0	$0
KATHLEEN CRITTENDEN	DIRECTOR	2.00	Director	$0	$0	$0
KAREN INNIS	DIRECTOR	1.00	Director	$0	$0	$0
JIM SERVAIS	DIRECTOR	1.00	Director	$0	$0	$0
ERIC NOTTESTAD	DIRECTOR	1.00	Director	$0	$0	$0
CHUCK PETERSON	DIRECTOR	1.00	Director	$0	$0	$0
KARLA YANSKE	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN NOBLE	EXECUTIVE DIRECTOR	48.00	Officer	$88,080	$0	$88,080

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	$402,740	$483,499	$4,488,668	$-80,759
2023	$544,150	$456,885	$4,562,097	$87,265
2022	$366,888	$430,535	$4,480,050	$-63,647
2021	$534,228	$499,563	$4,577,898	$34,665
2020	$804,425	$523,942	$4,807,548	$280,483
2019	$661,505	$545,742	$4,838,062	$115,763
2018	$669,011	$523,039	$4,978,970	$145,972

VERNON ECONOMIC DEVELOPMENT ASSOCIATION INC