CORKTOWN ECONOMIC DEVELOPMENT CORP

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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

2015

Legal Domicile

Principal Officer

Dennis Fulton

Phone

2485611174

Tax Period

2018-01-01 to 2018-12-31

CORKTOWN ECONOMIC DEVELOPMENT CORP, founded in 2015, is a micro nonprofit that reported $12K in total revenue in fiscal year 2018. Revenue fell 85% from the prior year — a significant decline worth monitoring. Expenses of $22K exceeded revenue, resulting in a 84% operating deficit.

Mission

OUT MISSION IS TO ADVANCE THE ECONOMIC GROWTH AND DEVELOPMENT OF DETROIT'S OLDEST NEIGHBORHOOD, CORKTOWN, THROUGH STRATEGIC PLANNING, TACTICAL URBANISM, AND COMMUNITY ENGAGEMENT

Program Service Accomplishments

Program 1

Expenses: $22,121

LIASON WITH CITY OF DETROIT AND MICHIGAN DEPARTMENT OF TRANSPORTATION TO COMPLETE A SIGNIFICANT STREETSCAPE IMPROVMENT PROJECT IN THE CORKTOWN NEIGHBORHOOD

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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 (2018)

Revenue Breakdown

Contributions & Grants $12,000

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $12,000

Expense Breakdown

Grants Paid $12,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $22,121

Other Expenses $10,121

TOTAL EXPENSES $22,121

Year-over-Year Comparison

	2018	2017	Change
Revenue	$12,000	$79,300	-0.8%
Expenses	$22,121	$65,702	-0.7%
Net Income	$-10,121	$13,598	-1.7%

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

N/A

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
CHRISTOPHER HAJEK	Director	0.50	Director	$0	$0	$0
DAVID ESPARZA	Director	0.50	Director	$0	$0	$0
GARLIN GILCHRISTII	Director	0.50	Director	$0	$0	$0
JAMES VAN DYKE	Director	0.50	Director	$0	$0	$0
MIKE KHALIL	Director	0.50	Director	$0	$0	$0
JAMES SCHULTZ	Director	0.50	Director	$0	$0	$0
VINCE KEENAN	Director	0.50	Director	$0	$0	$0
RYAN COOLEY	Director	0.50	Director	$0	$0	$0
ALLYAH SABREE	Director	0.50	Director	$0	$0	$0
MARK WALLACE	Director	0.50	Director	$0	$0	$0
DENNIS FULTON	Treasurer	2.00	Officer	$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
2018	$12,000	$22,121	$149,742	$-10,121