Aberdeen Development Corporation

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1955

Legal Domicile

Principal Officer

Tim Hanigan

Phone

6052295335

Tax Period

2023-01-01 to 2023-12-31

Aberdeen Development Corporation, founded in 1955, is a small nonprofit that reported $921K in total revenue in fiscal year 2023. Revenue fell 43% from the prior year — a significant decline worth monitoring. Expenses of $1.7M exceeded revenue, resulting in a 83% operating deficit.

Mission

Recruit, retain, expand, and provide entrepreneurial support to enhance economic opportunity in Aberdeen and our surrounding region.

Program Service Accomplishments

Program 1

The corporation focuses on recruitment of new business and retention/expansion of existing business by promoting the region through disbursement of information and the building, selling and leasing of development sites. The corporation continued its industry efforts, but also placed an emphasis on entrepreneurial support and labor retention and recruitment.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $224,162

Program Service Revenue $283,036

Investment Income $352,012

Other Revenue $61,502

TOTAL REVENUE $920,712

Expense Breakdown

Grants Paid $662,327

Salaries & Benefits $457,462

Fundraising Expenses $0

Other Expenses $565,197

TOTAL EXPENSES $1,684,986

Year-over-Year Comparison

	2023	2022	Change
Revenue	$920,712	$1,606,263	-0.4%
Expenses	$1,684,986	$1,041,174	+0.6%
Net Income	$-764,274	$565,089	-2.4%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$204,513

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Bockorny	CEO	40.00	Officer	$178,047	$26,466	$204,513
Tim Hanigan	Chair	2.00	Officer Director	$0	$0	$0
Kip Hansen	Vice-Chair	1.00	Officer Director	$0	$0	$0
Scott Noeldner	Secretary/Treasurer	1.00	Officer Director	$0	$0	$0
Char Hager	Director	1.00	Director	$0	$0	$0
David Kreber	Director	1.00	Director	$0	$0	$0
Katie Washnok	Director	1.00	Director	$0	$0	$0
Mark Gederos	Director	1.00	Director	$0	$0	$0
Keri Satrang	Director	1.00	Director	$0	$0	$0
Ryan Schmike	Director	1.00	Director	$0	$0	$0
Adam Butcher	Director	1.00	Director	$0	$0	$0
Jeff Lee	Director	1.00	Director	$0	$0	$0
Mark Malchow	Director	1.00	Director	$0	$0	$0
Spencer Sommers	Director	1.00	Director	$0	$0	$0
Nicole Summner	Director	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
2024	No data	No data	No data	No data
2023	$920,712	$1,684,986	$11,453,901	$-764,274
2022	$1,606,263	$1,041,174	$12,144,487	$565,089
2021	$503,905	$1,169,286	$13,966,811	$-665,381
2020	$2,549,970	$1,387,029	$16,953,277	$1,162,941
2020	$2,353,282	$2,364,340	$15,412,175	$-11,058
2019	$1,413,746	$2,492,708	$15,154,003	$-1,078,962