RAPPAHANNOCK ECONOMIC DEVELOPMENT CORPORATION (EIN 541389463) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1983

Legal Domicile

Principal Officer

JOE DISTEFANO

Phone

5403732897

Tax Period

2024-10-01 to 2025-09-30

RAPPAHANNOCK ECONOMIC DEVELOPMENT CORPORATION, founded in 1983, is a small nonprofit that reported $331K in total revenue in fiscal year 2017. Revenue decreased 11% compared to the prior year.

Mission

TO PROMOTE ECONOMIC DEVELOPMENT AND GROWTH OF THE SMALL BUSINESS COMMUNITY WITHIN VIRGINIA, MARYLAND, WEST VIRGINIA AND WASHINGTON, DC. TO PROMOTE AND INCREASE PRIVATE SECTOR INVESTMENT IN LONG-TERM FIXED ASSETS, WHICH WILL INCREASE PRODUCTIVITY, CREATE OR RETAIN EMPLOYMENT OPPORTUNITIES AND INCREASE THE LOCAL TAX BASE IN THE AREA OF OPERATIONS. IN SUMMARY, IT IS THE INTENT OF THE RAPPAHANNOCK ECONOMIC DEVELOPMENT CORPORATION TO PROVIDE A POSITIVE ECONOMIC IMPACT WITHIN ITS COMMUNITY, OR MEET A PUBLIC POLICY GOAL OF THE SMALL BUSINESS ADMINISTRATION (SBA).

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $865,515

Investment Income $85,942

Other Revenue $34,382

TOTAL REVENUE $985,839

Expense Breakdown

Grants Paid $0

Salaries & Benefits $582,329

Fundraising Expenses $0

Program Expenses $872,938

Other Expenses $330,670

TOTAL EXPENSES $912,999

Year-over-Year Comparison

	2024	2023	Change
Revenue	$985,839	$702,011	+0.4%
Expenses	$912,999	$692,219	+0.3%
Net Income	$72,840	$9,792	+6.4%

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

$192,937

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TERI TOSTI	CHAIRWOMAN	1.00	Officer Director	$0	$0	$0
KRISTIN SHIELDS	VICE CHAIRWO	1.00	Officer Director	$0	$0	$0
BRIAN BAKER	PAST CHAIRMA	1.00	Officer Director	$0	$0	$0
GEORGE CHRISTOPHER	TREASURER	1.00	Officer Director	$0	$0	$0
KATHY SPEAKMAN	SECRETARY	1.00	Officer Director	$0	$0	$0
BILL OETERS	ASSISTANT SE	1.00	Officer Director	$0	$0	$0
RICH IRON	DIRECTOR	1.00	Director	$0	$0	$0
CURRY ROBERTS	DIRECTOR	1.00	Director	$0	$0	$0
MATT KELLY	DIRECTOR	1.00	Director	$0	$0	$0
STEVEN APICELLA	DIRECTOR	1.00	Director	$0	$0	$0
MIKE KENNISON	DIRECTOR	1.00	Director	$0	$0	$0
BRENDA HISGHMAN	DIRECTOR	1.00	Director	$0	$0	$0
JOE DISTEFANO	PRESIDENT	40.00	Officer	$192,937	$0	$192,937

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
2025	$985,839	$912,999	$876,961	$72,840
2024	$702,011	$692,219	$613,702	$9,792
2023	$728,607	$716,341	$620,046	$12,266
2022	$637,675	$642,889	$549,871	$-5,214
2021	$608,606	$559,108	$656,629	$49,498
2020	$507,587	$411,882	$483,122	$95,705
2019	$375,293	$377,648	$434,948	$-2,355
2018	$330,764	$336,758	$364,428	$-5,994

RAPPAHANNOCK ECONOMIC DEVELOPMENT CORPORATION