ALTON ECONOMIC DEVELOPMENT CORPORATION (EIN 421523453) - 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

2010

Legal Domicile

Principal Officer

DAN VANDE GRIEND

Tax Period

2024-01-01 to 2024-12-31

ALTON ECONOMIC DEVELOPMENT CORPORATION, founded in 2010, is a small nonprofit in the Community Improvement sector that reported $145K in total revenue in fiscal year 2024. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $588K exceeded revenue, resulting in a 307% operating deficit.

Mission

TO PROVIDE THE CITY OF ALTON, IOWA WITH ECONOMIC DEVELOPMENT POSSIBILITIES RANGING FROM RESIDENTIAL, INDUSTRIAL AND COMMERCIAL DEVELOPMENT. THE ORGANIZATION WILL MAKE AVAILABLE PLACES OF RESIDENCE AND WORK ATTRACTING PEOPLE TO THE CITY OF ALTON. THE ORGANIZATION ALSO PROVIDES ECONOMIC CONSULTING ON A MONTHLY BASIS TO THE CITY OF ALTON.

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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 $62,902

Program Service Revenue $80,237

Investment Income $1,431

Other Revenue $0

TOTAL REVENUE $144,570

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $588,105

Other Expenses $588,105

TOTAL EXPENSES $588,105

Year-over-Year Comparison

	2024	2023	Change
Revenue	$144,570	$199,112	-0.3%
Expenses	$588,105	$184,368	+2.2%
Net Income	$-443,535	$14,744	-31.1%

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
DAN VANDE GRIEND	PRESIDENT	N/A	Officer Director	$0	$0	$0
HARLAN JORGENSEN	DIRECTOR	N/A	Officer Director	$0	$0	$0
DALE OLTMANS	EXECUTIVE DI	N/A	Officer 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	$144,570	$588,105	$1,923,918	$-443,535
2023	$199,112	$184,368	$1,148,411	$14,744
2022	$117,638	$97,250	$1,182,982	$20,388
2021	$305,897	$228,191	$1,162,594	$77,706
2020	$57,232	$17,809	$567,113	$39,423
2018	$63,974	$47,670	$500,255	$16,304

ALTON ECONOMIC DEVELOPMENT CORPORATION