PALO ALTO COUNTY ECONOMIC DEVELOPM… - 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

TONY BRUGMAN

Phone

5152957979

Tax Period

2023-07-01 to 2024-06-30

PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORPORATION, founded in 2006, is a small nonprofit in the Community Improvement sector that reported $190K in total revenue in fiscal year 2023. Expenses of $175K left a modest 8% surplus.

Mission

THE PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORPORATION WILL SERVE AS A FACILITATOR OF ECONOMIC DEVELOPMENT BY ENCOURAGING AND PROMOTING GROWTH IN THE AREAS OF EXISTING BUSINESSES/EXPANSION, JOB RETENTION, MARKETING, TOURISM, AND TO PROVIDE LEADERSHIP TO HELP IMPROVE THE QUALITY OF LIFE FOR ALL RESIDENTS IN PALO ALTO COUNTY.

Program Service Accomplishments

Program 1

Expenses: $82,016

CONTINUE TO REMOVE OBSTACLES AND OFFER ASSISTANCE PROGRAMS TO BUSINESSES AND COMMUNITIES IN PALO ALTO COUNTY THAT FOSTER JOB CREATION AND LOCAL INVESTMENT.

Program 2

Expenses: $6,000

CONTINUE TO FUND AND PROVIDE LOANS TO BUSINESSES AND INDUSTRIES THROUGH THE PALO ALTO COUNTY REVOLVING LOAN FUND. THIS FUND PROVIDES A SOURCE OF FINANCING, WHICH MAY NOT OTHERWISE BE AVAILABLE WITHIN...

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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 $182,613

Program Service Revenue $0

Investment Income $7,816

Other Revenue $0

TOTAL REVENUE $190,429

Expense Breakdown

Grants Paid $0

Salaries & Benefits $118,084

Fundraising Expenses $0

Program Expenses $88,016

Other Expenses $56,506

TOTAL EXPENSES $174,590

Year-over-Year Comparison

	2023	2022	Change
Revenue	$190,429	$194,410	0.0%
Expenses	$174,590	$180,123	0.0%
Net Income	$15,839	$14,287	+0.1%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LARRY AKRIDGE	DIRECTOR	0.25	Director	$0	$0	$0
RICK BRENNAN	PAST PRESIDE	0.25	Officer Director	$0	$0	$0
TONY BRUGMAN	PRESIDENT	0.25	Officer Director	$0	$0	$0
BETH ELMAN	DIRECTOR	0.25	Director	$0	$0	$0
ROGER FAULSTICK	DIRECTOR	0.25	Director	$0	$0	$0
KIM KIBBIE	SECRETARY	0.25	Officer Director	$0	$0	$0
BRIAN MALM	DIRECTOR	0.25	Director	$0	$0	$0
CRAIG MERRILL	DIRECTOR	0.25	Director	$0	$0	$0
JONATHAN MOE	VICE PRESIDE	0.25	Officer Director	$0	$0	$0
KEVIN SCHUMACHER	DIRECTOR	0.25	Director	$0	$0	$0
SCOTT STOKES	TREASURER	0.25	Director	$0	$0	$0
LINDA THILGES	DIRECTOR	0.25	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
2025	No data	No data	No data	No data
2024	$190,429	$174,590	$410,418	$15,839
2023	$194,410	$180,123	$394,579	$14,287
2022	$189,149	$167,235	$380,292	$21,914
2021	$225,378	$164,769	$358,378	$60,609
2020	$193,684	$184,158	$306,293	$9,526
2019	$196,909	$169,573	$288,243	$27,336

PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORPORATION