ECONOMIC DEVELOPMENT ASSOCIATION OF MINNESOTA (EIN 411263666) - 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

1973

Legal Domicile

Principal Officer

CHRISTY LEWIS

Phone

9529284640

Tax Period

2024-01-01 to 2024-12-31

ECONOMIC DEVELOPMENT ASSOCIATION OF MINNESOTA, founded in 1973, is a small nonprofit that reported $322K in total revenue in fiscal year 2024. Expenses of $303K left a modest 6% surplus.

Mission

EDAM IS A PROFESSIONAL ASSOCIATION OF INDIVIDUALS AND ORGANIZATIONS THAT PROVIDES ECONOMIC DEVELOPMENT PROFESSIONALS A FORUM FOR EXCHANGING INFORMATION TO STAY ABREAST OF CURRENT ECONOMIC DEVELOPMENT STRATEGIES AND PRACTICES AND BY PROVIDING ECONOMIC DEVELOPERS WITH VALUABLE NETWORKING AND EDUCATION OPPORTUNITIES.

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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 $31,950

Program Service Revenue $288,154

Investment Income $1,897

Other Revenue $0

TOTAL REVENUE $322,001

Expense Breakdown

Grants Paid $1,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $121,585

Other Expenses $302,294

TOTAL EXPENSES $303,294

Year-over-Year Comparison

	2024	2023	Change
Revenue	$322,001	$305,985	+0.1%
Expenses	$303,294	$293,594	+0.0%
Net Income	$18,707	$12,391	+0.5%

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
CHRISTY LEWIS	PRESIDENT	1.00	Officer Director	$0	$0	$0
ERIC MAASS	FIRST VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KEITH DAHL	SECOND VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KATI BACHMAYER	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
TIM KORBY	DIRECTOR	1.00	Director	$0	$0	$0
MEREDITH UDOIBOK	DIRECTOR	1.00	Director	$0	$0	$0
LUCAS EVENSON	DIRECTOR	1.00	Director	$0	$0	$0
RICK HOWDEN	DIRECTOR	1.00	Director	$0	$0	$0
DANIELA LORENZ	DIRECTOR	1.00	Director	$0	$0	$0
DEANNA KUENNEN	DIRECTOR	1.00	Director	$0	$0	$0
JENN BREWINGTON	DIRECTOR	1.00	Director	$0	$0	$0
RON BARZE	DIRECTOR	1.00	Director	$0	$0	$0
SAM MARKMAN	DIRECTOR	1.00	Director	$0	$0	$0
EMILY NYGREN	DIRECTOR	1.00	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	$322,001	$303,294	$335,833	$18,707
2023	$305,985	$293,594	$289,792	$12,391
2022	$278,119	$244,320	$281,010	$33,799
2021	$266,744	$202,963	$218,307	$63,781
2020	$220,326	$238,589	$190,038	$-18,263
2019	$265,535	$224,987	$211,751	$40,548
2018	$250,693	$241,233	$170,801	$9,460

ECONOMIC DEVELOPMENT ASSOCIATION OF MINNESOTA