Brookings Economic Development Corporation (EIN 460440746) - 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

1995

Legal Domicile

Phone

6056978103

Tax Period

2024-01-01 to 2024-12-31

Brookings Economic Development Corporation, founded in 1995, is a small nonprofit that reported $940K in total revenue in fiscal year 2018. Expenses of $1.1M exceeded revenue, resulting in a 21% operating deficit.

Mission

Dedicated to serve the Brookings Area by enhancing the economic well-being of the City of Brookings and its surrounding areas and to improve its quality of life and prosperity.

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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 $370,283

Program Service Revenue $61,693

Investment Income $64,506

Other Revenue $365,069

TOTAL REVENUE $861,551

Expense Breakdown

Grants Paid $441,620

Salaries & Benefits $413,310

Fundraising Expenses $0

Other Expenses $331,089

TOTAL EXPENSES $1,186,019

Year-over-Year Comparison

	2024	2023	Change
Revenue	$861,551	$778,346	+0.1%
Expenses	$1,186,019	$960,856	+0.2%
Net Income	$-324,468	$-182,510	+0.8%

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

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

$105,102

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Tim Reed	CEO	40.00	Officer	$95,419	$9,683	$105,102
Daniel Scholl	Director	1.00	Director	$0	$0	$0
Spence Hawley	Director	1.00	Director	$0	$0	$0
Marcus Heemstra	Director	1.00	Director	$0	$0	$0
Don Greiner	Director	1.00	Director	$0	$0	$0
Jeremy Johnson	Director	1.00	Director	$0	$0	$0
Andy Johnson	Director	1.00	Director	$0	$0	$0
Nick Wendell	Director	1.00	Director	$0	$0	$0
Curt Lundquist	Director	1.00	Director	$0	$0	$0
Andrew Brown	Director	1.00	Director	$0	$0	$0
Steve Carnes	Director	1.00	Director	$0	$0	$0
Angela Boersma	Sec/Treas	1.00	Officer Director	$0	$0	$0
Mike Bartley	Director	1.00	Director	$0	$0	$0
Amanda Ver Helst	Director	1.00	Director	$0	$0	$0
Tom Fishback	President	1.00	Officer Director	$0	$0	$0
Victoria Blatchford	Past President	1.00	Officer Director	$0	$0	$0
Justin Gray	Vice President	1.00	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	$861,551	$1,186,019	$6,035,353	$-324,468
2023	$778,346	$960,856	$6,222,177	$-182,510
2022	$2,897,269	$777,366	$6,432,125	$2,119,903
2021	$828,178	$943,093	$4,223,331	$-114,915
2020	$760,659	$1,105,483	$4,327,059	$-344,824
2019	$938,791	$1,219,959	$4,663,015	$-281,168
2018	$939,800	$1,140,101	$4,956,290	$-200,301

Brookings Economic Development Corporation