Downtown Racine Corporation (EIN 391402470) - 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

1989

Legal Domicile

Phone

2626346002

Tax Period

2024-01-01 to 2024-12-31

Downtown Racine Corporation, founded in 1989, is a small nonprofit in the Community Improvement sector that reported $220K in total revenue in fiscal year 2024. Expenses of $246K exceeded revenue, resulting in a 12% operating deficit.

Mission

To promote continued economic growth and aesthetic and recreational revitalization of downtown Racine by being proactive in the retention of existing businesses and recruitment of new business to 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 (2024)

Revenue Breakdown

Contributions & Grants $31,225

Program Service Revenue $0

Investment Income $0

Other Revenue $188,291

TOTAL REVENUE $219,516

Expense Breakdown

Grants Paid $0

Salaries & Benefits $180,113

Fundraising Expenses $51,796

Program Expenses $14,195

Other Expenses $65,712

TOTAL EXPENSES $245,825

Year-over-Year Comparison

	2024	2023	Change
Revenue	$219,516	$222,246	0.0%
Expenses	$245,825	$224,940	+0.1%
Net Income	$-26,309	$-2,694	+8.8%

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

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
John Rooney	Director	1.00	Director	$0	$0	$0
Jeff Coe	Director	1.00	Director	$0	$0	$0
Marci Bruley	Director	1.00	Director	$0	$0	$0
Ralph Malicki	Director	1.00	Director	$0	$0	$0
Tim Ryan	Director	1.00	Director	$0	$0	$0
Shane Ryan	Director	1.00	Director	$0	$0	$0
Eric Dogans	Director	1.00	Director	$0	$0	$0
Corey Coleman	Director	1.00	Director	$0	$0	$0
Michelle Sweetman	Director	1.00	Director	$0	$0	$0
Michael OConnor	Director	1.00	Director	$0	$0	$0
Scott Monroe	Director	1.00	Director	$0	$0	$0
Meagan Petersen	Director	1.00	Director	$0	$0	$0
Megan Haapanen	Director	1.00	Director	$0	$0	$0
Janna Parr-Coca	Director	1.00	Director	$0	$0	$0
Doug Geurts	Director	1.00	Director	$0	$0	$0
Kelly Kruse	Executive Director	40.00	Officer Director	$0	$0	$0
Tim Mason	Chairman	1.00	Officer Director	$0	$0	$0
Austin Schultz	Vice Chairman	1.00	Officer Director	$0	$0	$0
Barry Fries	Treasurer	1.00	Officer Director	$0	$0	$0
Tricia Blasko	Secretary	1.00	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
2024	$219,516	$245,825	$148,385	$-26,309
2023	$222,246	$224,940	$153,235	$-2,694
2022	$232,145	$206,623	$146,802	$25,522
2021	$226,116	$187,966	$147,967	$38,150
2020	$186,740	$179,905	$83,351	$6,835
2019	$197,795	$209,938	$65,379	$-12,143
2018	$212,099	$190,298	$62,174	$21,801

Downtown Racine Corporation