FORT MADISON ECONOMIC DEVELOPMENT … - 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

1987

Legal Domicile

Principal Officer

TIM GOBBLE

Phone

3193725471

Tax Period

2024-01-01 to 2024-12-31

FORT MADISON ECONOMIC DEVELOPMENT CORP, founded in 1987, is a micro nonprofit in the Community Improvement sector that reported $65K in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $40K, a strong 61% operating margin.

Mission

PROMOTION OF AREA ENCONOMIC DEVELOPMENT.

Program Service Accomplishments

Program 1

Expenses: $7,153

PROMOTION OF FORT MADISON TO EXISTING INDUSTRIES AND BUSINESS AS WELL AS TO PROSPECTIVE BUSINESSES. ACTIVE SEARCH FOR NEW INDUSTRY AND ASSISTANCE TO BUSINESSES AND INDUSTRY LOOKING TO EXPAND OR BEGIN.

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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 $40,250

Program Service Revenue $0

Investment Income $25,173

Other Revenue $0

TOTAL REVENUE $65,423

Expense Breakdown

Grants Paid $2,153

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $7,153

Other Expenses $23,311

TOTAL EXPENSES $25,464

Year-over-Year Comparison

	2024	2023	Change
Revenue	$65,423	$57,327	+0.1%
Expenses	$25,464	$24,675	+0.0%
Net Income	$39,959	$32,652	+0.2%

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
AMY CONLEE	DIRECTOR	N/A	Director	$0	$0	$0
MIKE CULBERTSON	TREASURER	N/A	Officer Director	$0	$0	$0
COREY FRAISE	DIRECTOR	N/A	Director	$0	$0	$0
TIM GOBBLE	SECRETARY	N/A	Officer Director	$0	$0	$0
GARY HOYER	DIRECTOR	N/A	Director	$0	$0	$0
BOB HUFFMAN	CHAIRMAN	N/A	Officer Director	$0	$0	$0
JASON HUTCHESON	DIRECTOR	N/A	Director	$0	$0	$0
BRYAN LANGERUD	DIRECTOR	N/A	Director	$0	$0	$0
MATT MORRIS	VICE-CHAIRMA	N/A	Officer Director	$0	$0	$0
MATT MORRISON	DIRECTOR	N/A	Director	$0	$0	$0
MOUDY NABULSI	DIRECTOR	N/A	Director	$0	$0	$0
LARRY SMITH	DIRECTOR	N/A	Director	$0	$0	$0
STEVAN VUKCEICH	DIRECTOR	N/A	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	$65,423	$25,464	$608,292	$39,959
2023	$57,327	$24,675	$568,333	$32,652
2022	$139,034	$557,230	$535,681	$-418,196
2021	$695,336	$263,275	$953,877	$432,061
2020	$63,975	$36,484	$521,816	$27,491
2019	$44,267	$63,811	$494,325	$-19,544
2018	$45,407	$3,414,466	$513,869	$-3,369,059

FORT MADISON ECONOMIC DEVELOPMENT CORP