FAIRFIELD ECONOMIC DEVELOPMENT ASSOCIATION INC (EIN 421111039) - 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

1978

Legal Domicile

Principal Officer

JOE STEVER

Phone

6414723436

Tax Period

2023-07-01 to 2024-06-30

FAIRFIELD ECONOMIC DEVELOPMENT ASSOCIATION INC, founded in 1978, is a small nonprofit that reported $653K in total revenue in fiscal year 2023. Revenue surged 420% from the prior year, signaling strong growth momentum. The organization ran a surplus of $499K, a strong 76% operating margin.

Mission

TO SUSTAIN AND IMPROVE THE QUALITY OF LIFE OF THE CITIZENS OF FAIRFIELD, IOWA THROUGH TARGETED ECONOMIC DEVELOPMENT INITIATIVES AND PROGRAMS.

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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 $87,080

Program Service Revenue $12,500

Investment Income $495,512

Other Revenue $57,612

TOTAL REVENUE $652,704

Expense Breakdown

Grants Paid $9,180

Salaries & Benefits $56,075

Fundraising Expenses $0

Other Expenses $88,804

TOTAL EXPENSES $154,059

Year-over-Year Comparison

	2023	2022	Change
Revenue	$652,704	$125,439	+4.2%
Expenses	$154,059	$165,511	-0.1%
Net Income	$498,645	$-40,072	-13.4%

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

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

$89,994

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOE STEVER	PRESIDENT	1.00	Officer Director	$0	$0	$0
AARON KNESS	TREASURER	1.00	Officer Director	$0	$0	$0
ALISSA WARD	SECRETARY	1.00	Officer Director	$0	$0	$0
CURTIS SMITH	DIRECTOR	1.00	Director	$0	$0	$0
KEN ROSS	DIRECTOR	1.00	Director	$0	$0	$0
AMY JONES	DIRECTOR	1.00	Director	$0	$0	$0
NICK GRAHAM	DIRECTOR	1.00	Director	$0	$0	$0
ROGER VORHIES	DIRECTOR	1.00	Director	$0	$0	$0
ED MALLOY	EXECUTIVE DI	40.00	Officer	$0	$0	$0
JOSH LARABY - RESIGNED 10523	EXECUTIVE DI	40.00	Officer	$82,155	$7,839	$89,994

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
2025	No data	No data	No data	No data
2024	$652,704	$154,059	$2,274,006	$498,645
2023	$125,439	$165,511	$1,752,007	$-40,072
2022	$243,784	$141,714	$1,599,604	$102,070
2021	$170,518	$126,567	$2,182,962	$43,951
2020	$117,404	$130,640	$2,140,873	$-13,236
2019	$108,643	$134,186	$2,122,297	$-25,543
2018	$151,927	$135,583	$1,563,091	$16,344

FAIRFIELD ECONOMIC DEVELOPMENT ASSOCIATION INC