UNION DEVELOPMENT CORPORATION (EIN 431566819) - 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

1955

Legal Domicile

Principal Officer

ROBERT BORGMANN

Phone

6365833600

Tax Period

2024-02-01 to 2025-01-31

UNION DEVELOPMENT CORPORATION, founded in 1955, is a micro nonprofit that reported $4K in total revenue in fiscal year 2024. Revenue surged 100% from the prior year, signaling strong growth momentum. Expenses of $21K exceeded revenue, resulting in a 413% operating deficit.

Mission

TO AID THE CITY OF UNION IN THE RECRUITMENT OF INDUSTRIAL DEVELOPMENT AND TO ASSIST WITH ECONOMIC DEVELOPMENT ISSUES.

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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 $1,500

Program Service Revenue $0

Investment Income $0

Other Revenue $2,500

TOTAL REVENUE $4,000

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $20,512

TOTAL EXPENSES $20,512

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,000	$2,001	+1.0%
Expenses	$20,512	$19,580	+0.0%
Net Income	$-16,512	$-17,579	-0.1%

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

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
ROBERT BORGMANN	PRESIDENT	3.00	Officer Director	$0	$0	$0
BRANDON BARDOT	DIRECTOR	2.00	Director	$0	$0	$0
DAVE BAILEY	SECRETARY/TR	2.00	Officer Director	$0	$0	$0
JOEL DOEPKER	DIRECTOR	2.00	Director	$0	$0	$0
ED STRUBBERG	DIRECTOR	2.00	Director	$0	$0	$0
GREG TOELKE	DIRECTOR	2.00	Director	$0	$0	$0
MIKE ELLIOTT	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
DAVID HAGEDORN	DIRECTOR	2.00	Director	$0	$0	$0
RAY PRACHT	DIRECTOR	2.00	Director	$0	$0	$0
ALVERA HEEGER	DIRECTOR	2.00	Director	$0	$0	$0
JAMES STRUBBERG	DIRECTOR	2.00	Director	$0	$0	$0
ED STOWE	DIRECTOR	2.00	Director	$0	$0	$0
DAVE VANLEER	DIRECTOR	2.00	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	$4,000	$20,512	$759,850	$-16,512
2024	$2,001	$19,580	$759,809	$-17,579
2023	$20,026	$18,641	$760,146	$1,385
2022	$72,792	$75,573	$841,257	$-2,781
2021	No data	$50,079	$894,527	No data
2020	$77,952	$946,062	$914,298	$-868,110
2019	$21,305	$46,100	$1,892,208	$-24,795

UNION DEVELOPMENT CORPORATION