MOORESVILLE-SOUTH IREDELL ECONOMIC… - Form 990 Financial Data

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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

2006

Principal Officer

RUSS ROGERSON

Phone

7046631898

Tax Period

2018-03-01 to 2019-02-28

MOORESVILLE-SOUTH IREDELL ECONOMIC DEVELOPMENT CORPORATION, founded in 2006, is a small nonprofit that reported $447K in total revenue in fiscal year 2018. Revenue fell 51% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $121K, a strong 27% operating margin.

Mission

THE ORGANIZATION WAS ORGANIZED TO FURTHER THE ECONOMIC DEVELOPMENT OF THE MOORESVILLE-SOUTH IREDELL REGION AND TO PROMOTE EMPLOYMENT OPPORTUNITIES.

Program Service Accomplishments

Program 1

Expenses: $269,536

THE ORGANIZATION WAS ORGANIZED TO PROMOTE ECONOMIC DEVELOPMENT AND BUSINESS RETENTION FOR MOORESVILLE AND THE SOUTHERN PORTION OF IREDELL COUNTY.

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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 $417,281

Program Service Revenue $0

Investment Income $52

Other Revenue $30,000

TOTAL REVENUE $447,333

Expense Breakdown

Grants Paid $0

Salaries & Benefits $206,357

Fundraising Expenses $0

Program Expenses $269,536

Other Expenses $119,714

TOTAL EXPENSES $326,071

Year-over-Year Comparison

	2018	2017	Change
Revenue	$447,333	$919,316	-0.5%
Expenses	$326,071	$354,917	-0.1%
Net Income	$121,262	$564,399	-0.8%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES MALLORY	CHAIRMAN	3.00	Officer Director	$0	$0	$0
BETH JONES	DIRECTOR	3.00	Director	$0	$0	$0
COSTI KUTTEH	DIRECTOR	3.00	Director	$0	$0	$0
MILES ATKINS	DIRECTOR	5.00	Director	$0	$0	$0
TEROSS YOUNG	DIRECTOR	3.00	Director	$0	$0	$0
RON SMITH	DIRECTOR	3.00	Director	$0	$0	$0
RYAN RASE	DIRECTOR	3.00	Director	$0	$0	$0
JUSTIN LONGINO	DIRECTOR	3.00	Director	$0	$0	$0
JIM MARSHALL	CHAIRMAN	3.00	Officer Director	$0	$0	$0
BOB PALMES	VICE CHAIRMA	3.00	Officer Director	$0	$0	$0
STEVE DAILEY	DIRECTOR	3.00	Director	$0	$0	$0
JEFF CERNUTO	DIRECTOR	3.00	Director	$0	$0	$0
DAVID ALEXANDER	SECRETARY	5.00	Officer Director	$0	$0	$0
PAUL COOK	CO-TREASURER	5.00	Officer Director	$0	$0	$0
RON JOHNSON	CO-TREASURER	4.00	Officer Director	$0	$0	$0
GARY THOMAS	DIRECTOR	5.00	Director	$0	$0	$0
TIM BREWER	EX-OFFICIO	4.00	Director	$0	$0	$0
MARK BRADY	EX-OFFICIO	3.00	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
2019	$447,333	$326,071	No data	$121,262
2018	$919,316	$354,917	$791,349	$564,399

MOORESVILLE-SOUTH IREDELL ECONOMIC DEVELOPMENT CORPORATION