CANTON ECONOMIC DEVELOPMENT CORPORATION (EIN 460434534) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1993

Legal Domicile

Principal Officer

LEON EICH

Phone

6059877382

Tax Period

2024-01-01 to 2024-12-31

CANTON ECONOMIC DEVELOPMENT CORPORATION, founded in 1993, is a micro nonprofit that reported $36K in total revenue in fiscal year 2019. Revenue surged 82% from the prior year, signaling strong growth momentum. Expenses of $33K left a modest 7% surplus.

Mission

TO FURTHER THE ECONOMIC DEVELOPMENT OF THE CITY OF CANTON, SD AND ITS ENVIRONS.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $592,631

Program Service Revenue $78,688

Investment Income $13,406

Other Revenue $743

TOTAL REVENUE $685,468

Expense Breakdown

Grants Paid $0

Salaries & Benefits $97,000

Fundraising Expenses $0

Program Expenses $79,188

Other Expenses $101,553

TOTAL EXPENSES $198,553

Year-over-Year Comparison

	2024	2023	Change
Revenue	$685,468	$430,890	+0.6%
Expenses	$198,553	$216,788	-0.1%
Net Income	$486,915	$214,102	+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

N/A

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
SCOTT LARSON	PRESIDENT	004.00	Officer Director	$0	$0	$0
DARIN OAKLAND	VICE PRESIDENT	N/A	Officer Director	$0	$0	$0
RUSS TOWNSEND	SECRETARY	000.50	Officer Director	$0	$0	$0
TODD GANNON	TREASURER	001.00	Officer Director	$0	$0	$0
BRYAN LAUNDERVILLE	DIRECTOR	001.00	Director	$0	$0	$0
NANCY BITTERMAN	DIRECTOR	N/A	Director	$0	$0	$0
JOEL KLATT	DIRECTOR	N/A	Director	$0	$0	$0
JON FRICK	DIRECTOR	001.00	Director	$0	$0	$0
BRAD GOODROAD	DIRECTOR	N/A	Director	$0	$0	$0
NICK THOMPSON	DIRECTOR	001.00	Director	$0	$0	$0
JOSIE JOHNSON	DIRECTOR	N/A	Director	$0	$0	$0
SANDRA LUNDSTROM	DIRECTOR	N/A	Director	$0	$0	$0
CHRIS YORK	DIRECTOR	N/A	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	$685,468	$198,553	$1,695,982	$486,915
2023	$430,890	$119,788	$1,330,772	$311,102
2022	$489,478	$122,297	$1,019,670	$367,181
2019	$35,827	$33,275	$470,534	$2,552

CANTON ECONOMIC DEVELOPMENT CORPORATION