CORSICA INC (EIN 460441625) - 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

Phone

6059465888

Tax Period

2023-09-01 to 2024-08-31

CORSICA INC, founded in 1993, is a micro nonprofit in the Community Improvement sector that reported $90K in total revenue in fiscal year 2017. Revenue surged 91% from the prior year, signaling strong growth momentum. The organization ran a surplus of $77K, a strong 86% operating margin.

Mission

COMMUNITY GROWTH AND DEVELOPMENT

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $18,796

Investment Income $-3,039

Other Revenue $0

TOTAL REVENUE $15,757

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $36,042

TOTAL EXPENSES $36,042

Year-over-Year Comparison

	2023	2022	Change
Revenue	$15,757	N/A	N/A
Expenses	$36,042	N/A	N/A
Net Income	$-20,285	N/A	N/A

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

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
JERIS TIMMERMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
DAN NOTEBOOM	BOARD MEMBER	1.00	Director	$0	$0	$0
JENNY PLOOSTER	BOARD MEMEBER	1.00	Director	$0	$0	$0
LOGAN DENNING	BOARD MEMBER	1.00	Director	$0	$0	$0
ROCKY NELSON	BOARD MEMBER	1.00	Director	$0	$0	$0
TRENT VANDENHOEK	BOARD MEMBER	1.00	Director	$0	$0	$0
JIM DEBOER	BOARD MEMBER	1.00	Director	$0	$0	$0
TYLER DOCKENDORF	BOARD MEMBER	1.00	Director	$0	$0	$0
BARB GROENEWEG	Secretary	2.00	Officer	$0	$0	$0
JEFF CLEVELAND	Treasurer	2.00	Officer	$0	$0	$0
JAMIE REXWINKEL	Vice President	2.00	Officer	$0	$0	$0
LUKE BAMBERG	President	2.00	Officer	$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	No data	No data	No data	No data
2024	$15,757	$36,042	$1,365,886	$-20,285
2022	$89,972	$28,008	$541,008	$61,964
2018	$89,577	$12,583	$342,530	$76,994

CORSICA INC