CEREAL CITY DEVELOPMENT CORPORATION

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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

1984

Legal Domicile

Principal Officer

THEODORE DEARING

Phone

2699634800

Tax Period

2023-07-01 to 2024-06-30

CEREAL CITY DEVELOPMENT CORPORATION, founded in 1984, is a community nonprofit in the Community Improvement sector that reported $1.7M in total revenue in fiscal year 2023.

Mission

TO ATTRACT A VARIETY OF EVENTS THAT CONTRIBUTE TO THE COMMUNITY'S POSITIVE ECONOMIC IMPACT AND QUALITY OF LIFE AND ASSIST WITH ECONOMIC DEVELOPMENT IN THE CITY OF BATTLE CREEK.

Program Service Accomplishments

Program 1

Expenses: $1,577,651 Revenue: $1,252,889

OPERATION AND MANAGEMENT OF KELLOGG ARENA AND THE FESTIVAL MARKET SQUARE FOR COMMUNITY EVENTS.

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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 $431,771

Program Service Revenue $1,252,889

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,684,660

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,138,554

Fundraising Expenses $0

Program Expenses $1,577,651

Other Expenses $708,750

TOTAL EXPENSES $1,847,304

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,684,660	$1,568,399	+0.1%
Expenses	$1,847,304	$1,746,908	+0.1%
Net Income	$-162,644	$-178,509	-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

151

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

$283,289

Total Directors

$429,763

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LINDA FREYBLER	CHAIRMAN	1.00	Officer Director	$0	$0	$0
AARON KUHN	TREASURER	1.00	Officer Director	$0	$19,202	$130,711
THEODORE DEARING	SECRETARY	1.00	Officer Director	$0	$15,788	$152,578
PAUL CONKEY	DIRECTOR	1.00	Director	$0	$0	$0
BEN RANDELS	DIRECTOR (END JULY)	1.00	Director	$52,800	$9,313	$62,113
MIKE CRISWELL	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER BROWN	DIRECTOR	1.00	Director	$0	$0	$0
BRIDGETTE JONES	DIRECTOR	1.00	Director	$0	$0	$0
KRIS LEATHERMAN	DIRECTOR	1.00	Director	$0	$0	$0
KELLY WALDEN	DIRECTOR (BEG JULY)	1.00	Director	$63,927	$20,434	$84,361

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	$1,684,660	$1,847,304	$281,440	$-162,644
2023	$1,568,399	$1,746,908	$462,770	$-178,509
2022	$1,378,844	$1,333,765	$707,399	$45,079
2021	$1,220,731	$818,812	$630,685	$401,919
2020	$1,186,806	$1,245,415	$333,200	$-58,609
2019	$1,913,638	$1,818,507	$335,762	$95,131
2018	$1,307,466	$1,307,456	$140	$10