RIVER FALLS ECONOMIC DEVELOPMENT CORPORATION (EIN 391685445) - 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

1988

Legal Domicile

Principal Officer

STEVE LEITCH

Phone

7154263144

Tax Period

2023-01-01 to 2023-12-31

RIVER FALLS ECONOMIC DEVELOPMENT CORPORATION, founded in 1988, is a small nonprofit that reported $330K in total revenue in fiscal year 2023. Revenue surged 41% from the prior year, signaling strong growth momentum. The organization ran a surplus of $57K, a strong 17% operating margin.

Mission

RIVER FALLS ECONOMIC DEVELOPMENT CORPORATION (RFEDC) IS A VOLUNTARY NON- PROFIT ORGANIZATION THAT COLLABORATES WITH THE CITY OF RIVER FALLS, PIERCE COUNTY ECONOMIC DEVELOPMENT CORPORATION, ST. CROIX ECONOMIC DEVELOPMENT CORPORATION, AND THE WISCONSIN ECONOMIC DEVELOPMENT CORPORATION TO INCREASE EMPLOYMENT OPPORTUNITIES THROUGH INDUSTRIAL DEVELOPMENT.

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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 $0

Program Service Revenue $328,110

Investment Income $2,289

Other Revenue $0

TOTAL REVENUE $330,399

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $273,044

TOTAL EXPENSES $273,044

Year-over-Year Comparison

	2023	2022	Change
Revenue	$330,399	$234,806	+0.4%
Expenses	$273,044	$269,464	+0.0%
Net Income	$57,355	$-34,658	-2.7%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JON BENTS	DIRECTOR (TH	1.00	Director	$0	$0	$0
CHRIS BLASIUS	DIRECTOR	1.00	Director	$0	$0	$0
ROSANNE BUMP	DIRECTOR	1.00	Director	$0	$0	$0
SHARI FRISBIE	DIRECTOR	1.00	Director	$0	$0	$0
DALE JORGENSON	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM LAMB	DIRECTOR	1.00	Director	$0	$0	$0
TERRY MCKAY	DIRECTOR	1.00	Director	$0	$0	$0
MAX NEUHAUS	DIRECTOR	1.00	Director	$0	$0	$0
JERRY WILKENS	DIRECTOR	1.00	Director	$0	$0	$0
JOE FISCHER	PRESIDENT	1.00	Officer Director	$0	$0	$0
STEVE LEITCH	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
KERI SCHREINER	TREASURER/SE	1.00	Officer Director	$0	$0	$0
SCOT SIMPSON	EXECUTIVE DI	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	No data	No data	No data	No data
2023	$330,399	$273,044	$3,721,808	$57,355
2022	$234,806	$269,464	$3,749,833	$-34,658
2021	$263,588	$279,009	$3,675,583	$-15,421
2020	$175,495	$226,028	$3,701,008	$-50,533
2019	$185,591	$237,358	$3,805,675	$-51,767
2018	$370,880	$196,962	$3,880,508	$173,918

RIVER FALLS ECONOMIC DEVELOPMENT CORPORATION