HASTINGS ECONOMIC DEVELOPMENT CORP (EIN 470551577) - Form 990 Financial Analysis & Trantor Score

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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

1973

Legal Domicile

Principal Officer

SHANNON LANDAUER

Phone

4024618400

Tax Period

2024-01-01 to 2024-12-31

HASTINGS ECONOMIC DEVELOPMENT CORP, founded in 1973, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2024. Revenue surged 642% from the prior year, signaling strong growth momentum. Expenses of $2.2M exceeded revenue, resulting in a 28% operating deficit.

Mission

CIVIC BETTERMENT

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,397,988

Program Service Revenue $216,623

Investment Income $92,262

Other Revenue $0

TOTAL REVENUE $1,706,873

Expense Breakdown

Grants Paid $1,109,738

Salaries & Benefits $236,929

Fundraising Expenses $0

Program Expenses $2,149,666

Other Expenses $835,305

TOTAL EXPENSES $2,181,972

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,706,873	$230,012	+6.4%
Expenses	$2,181,972	$718,308	+2.0%
Net Income	$-475,099	$-488,296	0.0%

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

$182,577

Total Directors

$182,577

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TRAVIS TUREK	DIRECTOR	0.50	Director	$0	$0	$0
SCOTT KVOLS	DIRECTOR	0.50	Director	$0	$0	$0
ERIC BARBER	DIRECTOR	0.50	Director	$0	$0	$0
MIKE HARLING	DIRECTOR	0.50	Director	$0	$0	$0
TEENA KUCERA	DIRECTOR	0.50	Director	$0	$0	$0
RICH LLOYD	DIRECTOR	0.50	Director	$0	$0	$0
SHAWN HARTMANN	DIRECTOR	0.50	Director	$0	$0	$0
BETH COIL	PRESIDENT	0.50	Officer Director	$0	$0	$0
TRAVIS AUGUSTIN	DIRECTOR	0.50	Director	$0	$0	$0
BILL HITESMAN	DIRECTOR	0.50	Director	$0	$0	$0
CODY SMITH	SECRETARY/TREASURER	0.50	Officer Director	$0	$0	$0
DEE HAUSSLER	DIRECTOR	0.50	Director	$0	$0	$0
GARY BRANDT	DIRECTOR	0.50	Director	$0	$0	$0
BRIAN BASSETT	DIRECTOR	0.50	Director	$0	$0	$0
SHAWN SCOTT	DIRECTOR	0.50	Director	$0	$0	$0
PIERCE FIALA	DIRECTOR	0.50	Director	$0	$0	$0
DEREK ZEISLER	DIRECTOR	0.50	Director	$0	$0	$0
CHRISTOPHER WADDLE	DIRECTOR	0.50	Director	$0	$0	$0
CYRUS ROWAN	DIRECTOR	0.50	Director	$0	$0	$0
CHUCK NEWMANN	DIRECTOR	0.50	Director	$0	$0	$0
SCOTT BARWICK	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
JEFF SCHNEIDER	DIRECTOR	0.50	Director	$0	$0	$0
TERRY ANSTINE	DIRECTOR	0.50	Director	$0	$0	$0
JAY BECKBY	DIRECTOR	0.50	Director	$0	$0	$0
SHANNON LANDAUER	EXECUTIVE DIRECTOR	40.00	Officer Director	$182,577	$0	$182,577
BRIAN PRICE	DIRECTOR	0.50	Director	$0	$0	$0
TODD CERNY	DIRECTOR	0.50	Director	$0	$0	$0
LARRY CONSBRUCK	DIRECTOR	0.50	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	$1,706,873	$2,181,972	$7,409,503	$-475,099
2023	$230,012	$718,308	$7,679,193	$-488,296
2022	$-1,351,105	$429,271	$6,633,395	$-1,780,376
2021	$983,781	$445,843	$8,303,115	$537,938
2020	$758,520	$489,503	$7,866,110	$269,017
2019	$1,914,152	$426,610	$8,171,794	$1,487,542
2018	$2,723,809	$255,519	$6,803,474	$2,468,290

HASTINGS ECONOMIC DEVELOPMENT CORP