SPENCER MAIN STREET COMPANY (EIN 421301066) - 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

1987

Legal Domicile

Principal Officer

ERIC MEETER

Phone

7122627246

Tax Period

2024-04-01 to 2025-03-31

SPENCER MAIN STREET COMPANY, founded in 1987, is a small nonprofit in the Community Improvement sector that reported $363K in total revenue in fiscal year 2024. Revenue surged 156% from the prior year, signaling strong growth momentum.

Mission

TO ENHANCE SPENCER'S MAIN STREET DISTRICT AS A BUSINESS, PROFESSIONAL, AND CULTURAL CENTER IN NORTHWEST IOWA.

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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 $244,027

Program Service Revenue $113,590

Investment Income $2,245

Other Revenue $3,495

TOTAL REVENUE $363,357

Expense Breakdown

Grants Paid $223,758

Salaries & Benefits $68,510

Fundraising Expenses $0

Program Expenses $307,465

Other Expenses $95,016

TOTAL EXPENSES $387,284

Year-over-Year Comparison

	2024	2023	Change
Revenue	$363,357	$141,767	+1.6%
Expenses	$387,284	$160,238	+1.4%
Net Income	$-23,927	$-18,471	+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

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

$56,680

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NANCY NAEVE	DIRECTOR	40.00	Officer	$56,680	$0	$56,680
NICK APPLEGATE	PAST PRESIDE	1.00	Officer Director	$0	$0	$0
SCOTT CONRAD	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIANNA DEAN	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
JEN VON EHWEGEN	SECRETARY	1.00	Officer Director	$0	$0	$0
DUSTIN GROSSNICKLE	BOARD MEMBER	1.00	Director	$0	$0	$0
ERIC MEETER	PRESIDENT	1.00	Officer Director	$0	$0	$0
SALLY MEYERS	BOARD MEMBER	1.00	Director	$0	$0	$0
EBONY RAHE	TREASURER	1.00	Officer Director	$0	$0	$0
AMALIE SABOE	BOARD MEMBER	1.00	Director	$0	$0	$0
KATIE TECHEN	BOARD MEMBER	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	$363,357	$387,284	$289,869	$-23,927
2024	$141,767	$160,238	$331,094	$-18,471
2023	$140,941	$314,093	$364,505	$-173,152
2022	$170,370	$114,667	$575,741	$55,703
2021	$203,334	$110,013	$535,016	$93,321
2020	$212,021	$78,102	$400,950	$133,919

SPENCER MAIN STREET COMPANY