POLK CITY CHAMBER & ECONOMIC DEVELOPMENT CORPORATION (EIN 421439040) - 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

1995

Legal Domicile

Principal Officer

BRIAN NELSON ENDS 123124

Phone

5159843098

Tax Period

2024-01-01 to 2024-12-31

POLK CITY CHAMBER & ECONOMIC DEVELOPMENT CORPORATION, founded in 1995, is a small nonprofit in the Community Improvement sector that reported $245K in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $208K left a modest 15% surplus.

Mission

TO BUILD A FIRM FOUNDATION IN ECONOMIC AND COMMUNITY SUPPORT BY TAKING A LEADERSHIP ROLE IN CREATING MARKETING STRATEGIES, ORGANIZING NETWORKING OPPORTUNITIES AND SERVING AS A LIAISON WITH STATE AND LOCAL GOVERNMENTS.

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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 $182,940

Program Service Revenue $60,033

Investment Income $2,031

Other Revenue $0

TOTAL REVENUE $245,004

Expense Breakdown

Grants Paid $0

Salaries & Benefits $67,306

Fundraising Expenses $0

Program Expenses $208,497

Other Expenses $141,191

TOTAL EXPENSES $208,497

Year-over-Year Comparison

	2024	2023	Change
Revenue	$245,004	$193,380	+0.3%
Expenses	$208,497	$177,363	+0.2%
Net Income	$36,507	$16,017	+1.3%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC HOCKENBERRY 123125	DIRECTOR	0.50	Director	$0	$0	$0
BRANDON CONVERSE ENDS 123124	VICE-PRESIDE	0.50	Officer Director	$0	$0	$0
BRIAN NELSON ENDS 123124	PRESIDENT	1.00	Officer Director	$0	$0	$0
JAKE LUNDGREN ENDS 123124	DIRECTOR	0.50	Director	$0	$0	$0
LARAMIE SANDQUIST ENDS 123125	DIRECTOR	0.50	Director	$0	$0	$0
MONICA CONVERSE ENDS 123125	SECRETARY/TR	0.50	Officer Director	$0	$0	$0
SARAH BACEHOWSKI ENDS 123126	DIRECTOR	0.50	Director	$0	$0	$0
SUSIE SHELDAHL ENDS 123126	EXECUTIVE DI	40.00	Officer Director	$0	$0	$0
CHELSEA HUISMAN	CITY MANAGER	0.50	Director	$0	$0	$0
STEVE KARSJEN	MAYOR	0.50	Director	$0	$0	$0
MICHAEL KLINE	NORTH POLK S	0.50	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	$245,004	$208,497	$174,177	$36,507
2021	$237,529	$123,120	$187,065	$114,409
2021	$237,529	$131,783	$168,402	$105,746
2019	$278,626	$204,995	$106,729	$73,631

POLK CITY CHAMBER & ECONOMIC DEVELOPMENT CORPORATION