GOTHENBURG IMPROVEMENT COMPANY (EIN 470662728) - 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

1967

Legal Domicile

Principal Officer

NATE WYATT

Phone

3085373505

Tax Period

2024-01-01 to 2024-12-31

GOTHENBURG IMPROVEMENT COMPANY, founded in 1967, is a community nonprofit in the Community Improvement sector that reported $2.2M in total revenue in fiscal year 2024. Revenue fell 65% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.5M, a strong 65% operating margin.

Mission

TO PROMOTE THE CITY OF GOTHENBURG TO POTENTIAL NEW BUSINESSES

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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 $1,817,023

Program Service Revenue $0

Investment Income $400,925

Other Revenue $18,000

TOTAL REVENUE $2,235,948

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $774,521

TOTAL EXPENSES $774,521

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,235,948	$6,317,535	-0.6%
Expenses	$774,521	$3,305,619	-0.8%
Net Income	$1,461,427	$3,011,916	-0.5%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE BACON	DIRECTOR	N/A	Director	$0	$0	$0
MICK BRANT	DIRECTOR	N/A	Director	$0	$0	$0
DEVIN BRUNDAGE	VICE PRESIDE	N/A	Director	$0	$0	$0
AMBER BURGE	DIRECTOR	N/A	Director	$0	$0	$0
HELEN COOL	DIRECTOR	N/A	Director	$0	$0	$0
MISHAYLA FREBURG	DIRECTOR	N/A	Director	$0	$0	$0
VERLIN JANSSEN	DIRECTOR	N/A	Director	$0	$0	$0
JANA JOBMAN	TREASURER	N/A	Officer Director	$0	$0	$0
SHANE MAXWELL	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
WILL RAHJES	DIRECTOR	N/A	Director	$0	$0	$0
KARL RANDECKER	DIRECTOR	N/A	Director	$0	$0	$0
TODD RHODES	DIRECTOR	N/A	Director	$0	$0	$0
JOE RICHESON	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
LUKE RICKERTSEN	DIRECTOR	N/A	Director	$0	$0	$0
COLTEN VENTEICHER	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
NATE WYATT	PRESIDENT	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
2024	$2,235,948	$774,521	$8,232,292	$1,461,427
2023	$6,317,535	$3,305,619	$7,243,290	$3,011,916
2022	$734,336	$2,036,660	$2,651,300	$-1,302,324
2021	$2,515,357	$654,414	$4,457,755	$1,860,943
2020	$399,216	$317,397	$1,175,614	$81,819
2019	$100,897	$170,025	$1,266,353	$-69,128
2018	$149,261	$223,187	$1,540,167	$-73,926

GOTHENBURG IMPROVEMENT COMPANY