Saginaw Economic Development Corpo… - 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

1974

Legal Domicile

Principal Officer

Yolanda Bland

Phone

9897591395

Tax Period

2024-07-01 to 2025-06-30

Saginaw Economic Development Corporation, founded in 1974, is a small nonprofit that reported $306K in total revenue in fiscal year 2024. Revenue fell 55% from the prior year — a significant decline worth monitoring. Expenses of $365K exceeded revenue, resulting in a 19% operating deficit.

Mission

To create and retain jobs and to expand and diversify the economic base of the City of Saginaw.

Program Service Accomplishments

Program 1

Expenses: $365,176 Revenue: $165,543

To develop economic enterprises and programs by offering loans to start-up businesses, existing or for expanding businesses that are located or will locate in the City of Saginaw.

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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 $140,582

Program Service Revenue $165,543

Investment Income $0

Other Revenue $0

TOTAL REVENUE $306,125

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $365,176

Other Expenses $365,176

TOTAL EXPENSES $365,176

Year-over-Year Comparison

	2024	2023	Change
Revenue	$306,125	$680,139	-0.5%
Expenses	$365,176	$218,939	+0.7%
Net Income	$-59,051	$461,200	-1.1%

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

$232,137

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Scot Putzig	President	1.00	Officer Director	$0	$0	$0
Larry Hughes	Director	1.00	Director	$0	$0	$0
Jamie Forbes	Director	1.00	Director	$0	$0	$0
James Graham	Director	1.00	Director	$0	$0	$0
Kevin Rooker	Director	1.00	Director	$0	$0	$0
Misty Moriarty	Director	1.00	Director	$0	$0	$0
Tyler Danek	Director	1.00	Director	$0	$0	$0
John Jatczak	Director	1.00	Director	$0	$0	$0
Steve Hensley	Director	1.00	Director	$0	$0	$0
Kisha Smith	Econ Dev Coordinator	1.00	Officer	$0	$22,454	$84,032
Yolanda Bland	OMB Director	1.00	Officer	$0	$23,571	$148,105

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	$306,125	$365,176	$2,391,321	$-59,051
2024	$680,139	$218,939	$2,450,372	$461,200
2023	$47,905	$491,879	$1,990,136	$-443,974
2022	$95,290	$456,243	$2,433,156	$-360,953
2021	$324,962	$352,275	$2,805,099	$-27,313
2020	$70,589	$229,962	$2,821,412	$-159,373
2019	$126,369	$97,236	$2,982,825	$29,133
2018	$425,073	$15,049	$2,956,991	$410,024

Saginaw Economic Development Corporation