MARSHALL AREA ECONOMIC DEVELOPMENT

EIN: 461516144 501(c)(3) Environment

MARSHALL, MI

Total Revenue
$119,254,589
Total Expenses
$107,493,348
Total Assets
$342,398,869
Net Assets
$303,450,519
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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
2012
Legal Domicile
MI
Principal Officer
JIM DURIAN
Tax Period
2024-07-01 to 2025-06-30

MARSHALL AREA ECONOMIC DEVELOPMENT, founded in 2012, is a major nonprofit in the Environment sector that reported $119.3M in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. Expenses of $107.5M left a modest 10% surplus.

Mission

ECONOMIC DEVELOPMENT, PROMOTION OF TOURISM, BUSINESS RETENTION, SMALL BUSINESS GROWTH AND DEVELOPMENT, AND VOLUNTEERISM

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $119,191,323
Program Service Revenue $0
Investment Income $42,278
Other Revenue $20,988
TOTAL REVENUE $119,254,589

Expense Breakdown

Grants Paid $0
Salaries & Benefits $612,728
Fundraising Expenses $0
Program Expenses $107,420,369
Other Expenses $106,880,620
TOTAL EXPENSES $107,493,348

Year-over-Year Comparison

2024 2023 Change
Revenue $119,254,589 $143,724,385 -0.2%
Expenses $107,493,348 $1,296,612 +81.9%
Net Income $11,761,241 $142,427,773 -0.9%
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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Governance

Voting Members
15
Independent Members
15
Employees
17
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
6
$187,811
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JIM DURIAN PRINCIPAL 40.00
Officer
$182,341 $5,470 $187,811
JOE CARON BOARD MEMBER N/A
Director
$0 $0 $0
MATT DAVIS BOARD MEMBER N/A
Director
$0 $0 $0
CARYN DRENTH BOARD MEMBER N/A
Director
$0 $0 $0
SARA JEFFERY BOARD MEMBER N/A
Director
$0 $0 $0
GEORGE JENKOT PAST CHAIR N/A
Officer Director
$0 $0 $0
REBECCA JONES SECRETARY N/A
Officer Director
$0 $0 $0
SCOTT KENNEDY BOARD MEMBER N/A
Director
$0 $0 $0
MIKE LOUNDS CHAIR N/A
Officer Director
$0 $0 $0
BOB LYNG BOARD MEMBER N/A
Director
$0 $0 $0
DEREK PERRY BOARD MEMBER N/A
Director
$0 $0 $0
JACK REED BOARD MEMBER N/A
Director
$0 $0 $0
JOHN RODOPOULOS BOARD MEMBER N/A
Director
$0 $0 $0
KELLI SCOTT TREASURER N/A
Officer Director
$0 $0 $0
IAN STEWART BOARD MEMBER N/A
Director
$0 $0 $0
RYAN TRAVER VICE CHAIR N/A
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
2025 $119,254,589 $107,493,348 $342,398,869 $11,761,241
2024 No data No data No data No data
2023 $151,641,399 $3,177,790 $203,118,967 $148,463,609
2022 $1,562,359 $1,471,032 $870,752 $91,327
2021 $741,485 $559,849 $792,698 $181,636
2020 $769,023 $643,503 $612,454 $125,520
2019 $615,201 $532,646 $557,069 $82,555
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