MERRILL AREA DEVELOPMENT CORPORATI… - Form 990 Financial Data

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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

1954

Legal Domicile

Principal Officer

RICHARD JOHNSON

Tax Period

2020-08-01 to 2021-07-31

MERRILL AREA DEVELOPMENT CORPORATION, founded in 1954, is a small nonprofit that reported $313K in total revenue in fiscal year 2020. Revenue surged 2241% from the prior year, signaling strong growth momentum. The organization ran a surplus of $238K, a strong 76% operating margin.

Mission

MERRILL AREA DEVELOPMENT CORPORATION PROMOTES ECONOMIC DEVELOPMENT IN MERRILL, WI AND THE SURROUNDING AREA.

Program Service Accomplishments

Program 1

Expenses: $74,504 Revenue: $312,576

LINCOLN COUNTY ECONOMIC DEVELOPMENT AUTHORITY PROMOTES DEVELOPMENT IN LINCOLN COUNTY WHICH IS THE COUNTY WHERE THE CITY OF MERRILL IS LOCATED.

Program 2

Revenue: $3,200

MERRILL AREA DEVELOPMENT CORPORATION MAINTENACE COST RELATED TO INDUSTRIAL PARK. CITY OF MERRILL CONTRIBUTES CAPITAL INTO MADC.

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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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $300,323

Other Revenue $12,253

TOTAL REVENUE $312,576

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $74,504

Other Expenses $74,504

TOTAL EXPENSES $74,504

Year-over-Year Comparison

	2020	2019	Change
Revenue	$312,576	$13,351	+22.4%
Expenses	$74,504	$24,837	+2.0%
Net Income	$238,072	$-11,486	-21.7%

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

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
DAVID JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
KEN MAULE	DIRECTOR	1.00	Director	$0	$0	$0
MIKE NEUMAN	DIRECTOR	1.00	Director	$0	$0	$0
TIM ZIMMERMAN	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN ARNDORFER	DIRECTOR	1.00	Director	$0	$0	$0
KENT JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
PETE LOKEMOEN	DIRECTOR	1.00	Director	$0	$0	$0
ADAM REKAU	DIRECTOR	1.00	Director	$0	$0	$0
GARY HARTWIG	PRESIDENT	1.00	Officer	$0	$0	$0
RICHARD JOHNSON	TREASURER	1.00	Officer	$0	$0	$0
DOUG WILLIAMS	VICE PRESIDENT	1.00	Officer	$0	$0	$0
SCOTT VOIGT	SECRETARY	1.00	Officer	$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
2021	$312,576	$74,504	$410,320	$238,072
2020	$13,351	$24,837	$169,047	$-11,486
2019	$389	$21,472	$177,332	$-21,083

MERRILL AREA DEVELOPMENT CORPORATION