EASTON ECONOMIC DEVELOPMENT CORP

EIN: 463947749 501(c)(3) Community Improvement

EASTON, MD

Total Revenue
$318,408
Total Expenses
$336,450
Total Assets
$179,470
Net Assets
$85,402
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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
2013
Legal Domicile
MD
Principal Officer
FRANK GUNSALLUS
Phone
4106907348
Tax Period
2025-01-01 to 2025-06-30

EASTON ECONOMIC DEVELOPMENT CORP, founded in 2013, is a small nonprofit in the Community Improvement sector that reported $318K in total revenue in fiscal year 2025. Revenue fell 45% from the prior year — a significant decline worth monitoring.

Mission

TO DRIVE ECONOMIC VITALITY, SMART REDEVELOPMENT, AND BUSINESS FORMATION TO FOSTER A HEALTHY QUALITY OF LIFE FOR ALL GENERATIONS

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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 (2025)

Revenue Breakdown

Contributions & Grants $318,379
Program Service Revenue $0
Investment Income $29
Other Revenue $0
TOTAL REVENUE $318,408

Expense Breakdown

Grants Paid $0
Salaries & Benefits $158,422
Fundraising Expenses $0
Program Expenses $289,919
Other Expenses $178,028
TOTAL EXPENSES $336,450

Year-over-Year Comparison

2025 2024 Change
Revenue $318,408 $576,464 -0.4%
Expenses $336,450 $580,007 -0.4%
Net Income $-18,042 $-3,543 +4.1%
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

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Governance

Voting Members
16
Independent Members
16
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
4
$0
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANTHONY KERN VICE CHAIR 1.00
Officer Director
$0 $0 $0
HERBERT MILLER CHAIRMAN EMERITUS 20.00
Director
$0 $0 $0
LLOYD L SCOTT BEATTY JR DIRECTOR 1.00
Director
$0 $0 $0
MATTHEW PETERS DIRECTOR 1.00
Director
$0 $0 $0
PETER HYMAN BOARD MEMBER 1.00
Director
$0 $0 $0
RON ENGLE BOARD MEMBER 1.00
Director
$0 $0 $0
TED BAUTZ BOARD MEMBER 3.00
Director
$0 $0 $0
HOLLY DEKARSKE EXECUTIVE DIRECTOR 40.00
Director
$0 $0 $0
MARY ELLEN CARTER BOARD MEMBER 1.00
Director
$0 $0 $0
JIM MARVEL BOARD MEMBER 1.00
Director
$0 $0 $0
JULIA FOXWELL BOARD MEMBER 1.00
Director
$0 $0 $0
FRANK GUNSALLUS III TREASURER 1.00
Officer Director
$0 $0 $0
TOM KLEIN CHAIRMAN 1.00
Officer Director
$0 $0 $0
KURT FUCHS BOARD MEMBER 1.00
Director
$0 $0 $0
JESSICA MUMBULO SECRETARY 1.00
Officer Director
$0 $0 $0
MAUREEN CURRY BOARD MEMBER 1.00
Director
$0 $0 $0
MEGAN COOK BOARD MEMBER 1.00
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 $318,408 $336,450 $179,470 $-18,042
2024 No data No data No data No data
2023 $644,606 $582,307 $210,402 $62,299
2022 $530,958 $560,982 $166,601 $-30,024
2021 $592,718 $536,838 $122,433 $55,880
2020 $321,130 $380,052 $76,271 $-58,922
2019 $409,820 $402,622 $107,050 $7,198
2018 $363,201 $406,231 $157,014 $-43,030
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