Goodridge Area Development Corp

EIN: 411246505 501(c)(3)

Goodridge, MN

Total Revenue
$7,494
Total Expenses
$945
Total Assets
$54,636
Net Assets
$54,636
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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
1987
Legal Domicile
MN
Principal Officer
John Lovely
Phone
2186816911
Tax Period
2023-01-01 to 2023-12-31

Goodridge Area Development Corp, founded in 1987, is a micro nonprofit that reported $7K in total revenue in fiscal year 2023. The organization ran a surplus of $7K, a strong 87% operating margin.

Mission

Provide support for youth, community and school district activies.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $111
Other Revenue $7,383
TOTAL REVENUE $7,494

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $945
Other Expenses $945
TOTAL EXPENSES $945

Year-over-Year Comparison

2023 2022 Change
Revenue $7,494 $-13,789 -1.5%
Expenses $945 $4,946 -0.8%
Net Income $6,549 $-18,735 -1.3%
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

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Governance

Voting Members
10
Independent Members
10
Employees
1
Volunteers
8

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
3
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
John Lovly President 1.00
Officer
$0 $0 $0
Jim Johnson V. President 0.50
Officer
$0 $0 $0
Roxanne Coan Secretary/Treasurer 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
2024 No data No data No data No data
2023 $7,494 $945 $54,636 $6,549
2022 $-13,789 $4,946 $48,287 $-18,735
2021 $22,394 $1,299 $66,996 $21,095
2020 $11,983 $345 $45,727 $11,638
2019 $819 $465 $35,033 $354
2018 $11,042 $995 $34,323 $10,047
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