ALBIA INDUSTRIAL DEVELOPMENT CORPORATION (EIN 420927912) - 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

1956

Legal Domicile

Principal Officer

DAN TOMETICH

Phone

6419327233

Tax Period

2024-01-01 to 2024-12-31

ALBIA INDUSTRIAL DEVELOPMENT CORPORATION, founded in 1956, is a small nonprofit in the Community Improvement sector that reported $178K in total revenue in fiscal year 2024. Expenses of $169K left a modest 5% surplus.

Mission

PROMOTE THE ECONOMIC DEVELOPMENT AND EMPLOYMENT OPPORTUNITIES IN MONROE COUNTY, IOWA, INCLUDING THE CITY OF ALBIA BY ADVERTISING AND PUBLICIZING THE ADVANTAGES OF 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 $163,500

Program Service Revenue $12,946

Investment Income $1,245

Other Revenue $750

TOTAL REVENUE $178,441

Expense Breakdown

Grants Paid $0

Salaries & Benefits $151,298

Fundraising Expenses $0

Program Expenses $169,017

Other Expenses $17,719

TOTAL EXPENSES $169,017

Year-over-Year Comparison

	2024	2023	Change
Revenue	$178,441	$181,799	0.0%
Expenses	$169,017	$168,175	+0.0%
Net Income	$9,424	$13,624	-0.3%

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

Governance

Voting Members

Independent Members

Employees

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

$107,184

Total Directors

$107,184

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAN TOMETICH	PRESIDENT	40.00	Officer Director	$99,768	$7,416	$107,184
RICHARD COLTRAIN	DIRECTOR	0.25	Director	$0	$0	$0
JOE CRALL	DIRECTOR	0.25	Director	$0	$0	$0
JOHN FRESHWATER	DIRECTOR	0.25	Director	$0	$0	$0
KEVIN KNESS	DIRECTOR	0.25	Director	$0	$0	$0
JACK SCIESZINSKI	DIRECTOR	0.25	Director	$0	$0	$0
JOHN HUGHES	DIRECTOR	0.25	Director	$0	$0	$0
NORM MAJOR	DIRECTOR	0.25	Director	$0	$0	$0
WES ASCHLEMAN	DIRECTOR	0.25	Director	$0	$0	$0
JIM VANKLAVERN	DIRECTOR	0.25	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	$178,441	$169,017	$196,998	$9,424
2023	$181,799	$168,175	$187,574	$13,624
2022	$118,064	$127,359	$201,091	$-9,295
2021	$125,513	$127,941	$187,043	$-2,428
2020	$205,970	$123,832	$187,445	$82,138
2019	$118,099	$141,311	$126,329	$-23,212
2018	$119,844	$110,761	$129,502	$9,083

ALBIA INDUSTRIAL DEVELOPMENT CORPORATION