CARROLL AREA DEVELOPMENT CORP DBA … - 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

1985

Legal Domicile

Principal Officer

ADAM SCHWEERS

Phone

7127924383

Tax Period

2025-01-01 to 2025-12-31

CARROLL AREA DEVELOPMENT CORP DBA CARROLL COUNTY GROWTH PARTNERSHIP, founded in 1985, is a small nonprofit in the Community Improvement sector that reported $314K in total revenue in fiscal year 2025. Revenue fell 29% from the prior year — a significant decline worth monitoring.

Mission

PROVIDES ECONOMIC DEVELOPMENT RESOURCES AND EXPERTISE TO BUSINESSES AND COMMUNITIES THROUGHOUT CARROLL COUNTY TO ENHANCE GROWTH, WHILE STRENGTHENING THE COMMUNITIES AND BUILDING A GREATER QUALITY OF PLACE

Program Service Accomplishments

Program 1

Expenses: $48,393 Revenue: $26,639

HUB 712 OFFERS COWORKING AND MEETING SPACES ALONG WITH BUSINESS SUPPORT AND INNOVATION SERVICES,AND TEAM BUILDING ACTIVITIES TO NEW AND OLD BUSINESSES TO HELP THEM LAUNCH, GROW AND REMAIN COMPETITIVE.

Program 2

Expenses: $30,867 Revenue: $271,394

PROMOTIONAL MATERIALS USED TO FOSTER INTEREST IN THE AREA FOR BUSINESS DEVELOPMENT. THIS INCLUDES LITERATURE GIVEN OUT AS INFORMATION ON THE AREA, AS WELL AS AWARDS TO RECOGNIZE EXISTING BUSINESSES...

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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 (2025)

Revenue Breakdown

Contributions & Grants $284,910

Program Service Revenue $26,639

Investment Income $2,040

Other Revenue $0

TOTAL REVENUE $313,589

Expense Breakdown

Grants Paid $7,258

Salaries & Benefits $182,249

Fundraising Expenses $0

Program Expenses $79,260

Other Expenses $140,642

TOTAL EXPENSES $330,149

Year-over-Year Comparison

	2025	2024	Change
Revenue	$313,589	$439,955	-0.3%
Expenses	$330,149	$372,426	-0.1%
Net Income	$-16,560	$67,529	-1.2%

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
JIM AUEN	Secretary	1.00	Officer Director	$0	$0	$0
MIKE FRANEY	President	1.00	Officer Director	$0	$0	$0
ADAM SCHWEERS	Vice President	1.00	Officer Director	$0	$0	$0
JIM FRIEL	Treasurer	1.00	Officer Director	$0	$0	$0
KATIE MASON	RURAL REPRESENT	1.00	Director	$0	$0	$0
GENE MEINERS	SUPERVISOR	1.00	Director	$0	$0	$0
AARON KOOIKER	CITY REPRESENTA	1.00	Director	$0	$0	$0
ALLEN ANDERSON	Director	1.00	Director	$0	$0	$0
KEN BEHRENS	Director	1.00	Director	$0	$0	$0
CASEY BERLAU	Director	1.00	Director	$0	$0	$0
LAVERN DIRKX	Director	1.00	Director	$0	$0	$0
SEAN HULUSKA	Director	1.00	Director	$0	$0	$0
SETH JOHNSON	Director	1.00	Director	$0	$0	$0
JOHN STEFFES	Director	1.00	Director	$0	$0	$0
RYAN MILLIGAN	Director	1.00	Director	$0	$0	$0
RICK HUNSAKER	Director	1.00	Director	$0	$0	$0
Dr STEVE KRAUS	Director	1.00	Director	$0	$0	$0
GAYLIN RANNINGER	Director	1.00	Director	$0	$0	$0
WES NORDQUIST	Director	1.00	Director	$0	$0	$0
JEN WOLLESEN	Director	1.00	Director	$0	$0	$0
TOM FARNER	Director	1.00	Director	$0	$0	$0
HOWIE DREES	Director	1.00	Director	$0	$0	$0
JOHN FELD	Director	1.00	Director	$0	$0	$0
STEVE FISHER	Director	1.00	Director	$0	$0	$0
TIM GUTE	Director	1.00	Director	$0	$0	$0
JERRY FLESHNER	Director	1.00	Director	$0	$0	$0
DAWN MEYER	Director	1.00	Director	$0	$0	$0
JEFF ROILAND	Director	1.00	Director	$0	$0	$0
CODY FORCH	Director	1.00	Director	$0	$0	$0
KIM TIEFENHALER	Director	1.00	Director	$0	$0	$0
AUSTIN SCOTT	Director	1.00	Director	$0	$0	$0
KIM HACKETT	Director	1.00	Director	$0	$0	$0
SCOTT JOHNSON	Director	1.00	Director	$0	$0	$0
AARON JUERGENS	Director	1.00	Director	$0	$0	$0
TODD KANNE	Director	1.00	Director	$0	$0	$0
JAIR MAYHALL	Director	1.00	Director	$0	$0	$0
BROOKE PETERSON	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
2025	$313,589	$330,149	$279,225	$-16,560
2024	No data	No data	No data	No data
2023	$383,103	$358,539	$256,333	$24,564
2022	$288,065	$299,654	$207,054	$-11,589
2021	$240,794	$235,111	$265,378	$5,683
2020	$284,289	$226,541	$222,874	$57,748
2019	$228,736	$218,878	$149,449	$9,858
2018	$227,458	$227,197	$136,375	$261

CARROLL AREA DEVELOPMENT CORP DBA CARROLL COUNTY GROWTH PARTNERSHIP