Mitchell County Economic Developme… - 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

2000

Legal Domicile

Phone

6417324790

Tax Period

2023-07-01 to 2024-06-30

Mitchell County Economic Development Commission, founded in 2000, is a small nonprofit that reported $723K in total revenue in fiscal year 2023. Revenue surged 366% from the prior year, signaling strong growth momentum. The organization ran a surplus of $251K, a strong 35% operating margin.

Mission

Promote Economic Development in Mitchell County

Program Service Accomplishments

Program 1

Expenses: $472,096

Staff is hired to provide support and information to members so that economic development can occur on a joint county wide basis

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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 $579,858

Program Service Revenue $125,372

Investment Income $9,715

Other Revenue $8,007

TOTAL REVENUE $722,952

Expense Breakdown

Grants Paid $0

Salaries & Benefits $141,327

Fundraising Expenses $0

Program Expenses $472,096

Other Expenses $330,769

TOTAL EXPENSES $472,096

Year-over-Year Comparison

	2023	2022	Change
Revenue	$722,952	$155,121	+3.7%
Expenses	$472,096	$245,341	+0.9%
Net Income	$250,856	$-90,220	-3.8%

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

N/A

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
Sam Heimer	President	5.00	Director	$0	$0	$0
Todd Frein	Vice Chairman	5.00	Director	$0	$0	$0
Harlan Bisbee	Treasurer	5.00	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
2026	No data	No data	No data	No data
2024	$722,952	$472,096	$830,742	$250,856
2024	$819,724	$675,613	$978,445	$144,111
2023	$155,121	$245,341	$579,886	$-90,220
2022	$269,780	$160,276	$670,106	$109,504

Mitchell County Economic Development Commission