INDUSTRIAL DEVELOPMENT BOARD OF THE GALLATIN TN (EIN 384171308) - 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

2020

Legal Domicile

Principal Officer

PRESTON STARK

Phone

6159925588

Tax Period

2024-07-01 to 2025-06-30

INDUSTRIAL DEVELOPMENT BOARD OF THE GALLATIN TN, founded in 2020, is a community nonprofit that reported $2.2M in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $3.0M exceeded revenue, resulting in a 34% operating deficit.

Mission

THE IDB IS RESPONSIBLE FOR ADMINSTRATION OF THE PILOT PROGRAM WHICH INVOLVES PAYMENTS IN LIEU OF TAXES. PAYMENTS ARE PRIMARILY PAYMNETS TO THE COUNTY (GALLATIN) IN WHICH THE CITY OF GALLATIN IS LOCATED. OTHER EXPENSES ARE RELATED TO THE OPERATION OF THE INDUSTRIAL PARK.

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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 $0

Program Service Revenue $2,242,221

Investment Income $0

Other Revenue $0

TOTAL REVENUE $2,242,221

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,998,536

Other Expenses $2,998,536

TOTAL EXPENSES $2,998,536

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,242,221	$1,796,648	+0.2%
Expenses	$2,998,536	$1,079,908	+1.8%
Net Income	$-756,315	$716,740	-2.1%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALLAN RAMSEY	BOARD MEMBER	2.00	Director	$0	$0	$0
DERRICK JACKSON	BOARD MEMBER	1.00	Director	$0	$0	$0
PHIL CARVER	BOARD MEMBER	1.00	Director	$0	$0	$0
STAN CARVER	BOARD MEMBER	1.00	Director	$0	$0	$0
JESSE MANESS	BOARD MEMBER	1.00	Director	$0	$0	$0
DON CUNNINGHAM	BOARD MEMBER	0.00	Director	$0	$0	$0
JOANNE WALKER	SECRETARY	1.00	Officer Director	$0	$0	$0
LEONARD ASSANTTE	TREASURER	1.00	Officer Director	$0	$0	$0
NEIL BURGESS	CHAIR	1.00	Officer Director	$0	$0	$0
PRESTON STARK	BOARD ADMINISTRATOR	0.00	Officer 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	$2,242,221	$2,998,536	$148,027	$-756,315
2024	$1,796,648	$1,079,908	$904,342	$716,740
2023	$334,268	$244,797	$187,602	$89,471
2022	$145,425	$136,802	$98,131	$8,623

INDUSTRIAL DEVELOPMENT BOARD OF THE GALLATIN TN