MUSKEGON AREA FIRST (EIN 383491274) - Form 990 Financial Analysis & Trantor Score

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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

1999

Legal Domicile

Principal Officer

FRANK PETERSON

Phone

2317243179

Tax Period

2023-10-01 to 2024-09-30

MUSKEGON AREA FIRST, founded in 1999, is a small nonprofit in the Community Improvement sector that reported $919K in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $874K left a modest 5% surplus.

Mission

MUSKEGON AREA FIRST IS A COUNTYWIDE ECONOMIC DEVELOPMENT CORPORATION FOCUSED ON LEVERAGING PUBLIC AND PRIVATE INVESTMENT TO ACCELERATE BUSINESS GROWTH AND THE CREATION OF HIGH-QUALITY EMPLOYMENT OPPORTUNITIES IN MUSKEGON COUNTY. FOUNDED IN 1999 BY AREA BUSINESS AND GOVERNMENTAL LEADERS, MUSKEGON AREA FIRST IS THE LEAD AGENCY FOR ECONOMIC DEVELOPMENT PROJECTS IN THE AREA.

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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 $542,318

Program Service Revenue $374,336

Investment Income $452

Other Revenue $2,000

TOTAL REVENUE $919,106

Expense Breakdown

Grants Paid $0

Salaries & Benefits $569,178

Fundraising Expenses $0

Other Expenses $305,246

TOTAL EXPENSES $874,424

Year-over-Year Comparison

	2023	2022	Change
Revenue	$919,106	$843,064	+0.1%
Expenses	$874,424	$967,068	-0.1%
Net Income	$44,682	$-124,004	-1.4%

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

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

$139,749

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RANDY LINDQUIST	VICE CHAIR	1.00	Officer Director	$0	$0	$0
KATIE MASON	TREASURER	1.00	Officer Director	$0	$0	$0
JILLIAN MELOCHE	SECRETARY	1.00	Officer Director	$0	$0	$0
MARK EISENBARTH	AT-LARGE	1.00	Officer Director	$0	$0	$0
MIKE OLTHOFF	PAST CHAIR	1.00	Officer Director	$0	$0	$0
DAVE HAZEKAMP	DELEGATE	1.00	Director	$0	$0	$0
STEVE OLSEN	DELEGATE	1.00	Director	$0	$0	$0
DAVE GILLES	DELEGATE	1.00	Director	$0	$0	$0
BRAD HILLEARY	DELEGATE	1.00	Director	$0	$0	$0
JARED OLSEN	DELEGATE	1.00	Director	$0	$0	$0
KIM ARTER	DELEGATE	1.00	Director	$0	$0	$0
JOHN SELMON	DELEGATE	1.00	Director	$0	$0	$0
JONATHAN WILSON	DELEGATE	1.00	Director	$0	$0	$0
TODD JACOBS	DELEGATE	1.00	Director	$0	$0	$0
JON ROOKS	DELEGATE	1.00	Director	$0	$0	$0
FRANK PETERSON	INTERIM CEO/	1.00	Officer Director	$0	$0	$0
MARLA SCHNEIDER	FORMER CEO	50.00	Officer	$134,982	$4,767	$139,749

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	$919,106	$874,424	$88,884	$44,682
2023	$843,064	$967,068	$75,429	$-124,004
2022	$720,236	$838,972	$255,934	$-118,736
2021	$926,176	$737,564	$340,370	$188,612
2020	$658,856	$640,577	$157,372	$18,279
2019	$475,880	$521,287	$163,521	$-45,407
2018	$488,736	$509,841	$203,981	$-21,105

MUSKEGON AREA FIRST