NORTH SIOUX CITY ECONOMIC DEVELOPMENT CORP (EIN 460450254) - 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

1996

Legal Domicile

Principal Officer

MIKE HUBER

Phone

7124440826

Tax Period

2023-01-01 to 2023-12-31

NORTH SIOUX CITY ECONOMIC DEVELOPMENT CORP, founded in 1996, is a micro nonprofit in the Community Improvement sector that reported $88K in total revenue in fiscal year 2018. Expenses of $136K exceeded revenue, resulting in a 54% operating deficit.

Mission

TO PROVIDE IMPETUS REQUIRED TO SPUR ECONOMIC DEVELOPMENT IN NORTH SIOUX CITY AREA; ENCOURAGE NEW BUSINESS AND BUSINESS RELOCATION BY OFFERING INCENTIVES AND DEVELOPMENT OF THE INFRASTRUCTURE.

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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 $138,130

Program Service Revenue $0

Investment Income $6,727

Other Revenue $0

TOTAL REVENUE $144,857

Expense Breakdown

Grants Paid $0

Salaries & Benefits $97,552

Fundraising Expenses $0

Program Expenses $58,714

Other Expenses $25,332

TOTAL EXPENSES $122,884

Year-over-Year Comparison

	2023	2022	Change
Revenue	$144,857	$110,439	+0.3%
Expenses	$122,884	$123,118	0.0%
Net Income	$21,973	$-12,679	-2.7%

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

$92,288

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE HUBER	PRESIDENT	1.00	Officer Director	$0	$0	$0
GREG HOFFMAN	TREASURER	1.00	Officer Director	$0	$0	$0
KEVIN HEISS	DIRECTOR	1.00	Director	$0	$0	$0
JAMIE WANKUM	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KATHY GUNDERSON	DIRECTOR	1.00	Director	$0	$0	$0
MEGAN MOORE	DIRECTOR	1.00	Director	$0	$0	$0
JOHN STEVENS	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW NILGES	EXECUTIVE DIRECTOR	40.00	Officer	$70,000	$22,288	$92,288

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	No data	No data	No data	No data
2023	$144,857	$122,884	$252,999	$21,973
2022	$110,439	$123,118	$180,664	$-12,679
2021	$102,543	$109,372	$318,779	$-6,829
2020	$103,708	$99,486	$133,508	$4,222
2019	$95,872	$97,331	$59,655	$-1,459
2018	$88,445	$136,398	$57,614	$-47,953

NORTH SIOUX CITY ECONOMIC DEVELOPMENT CORP