BUSINESS DEVELOPMENT CORPORATION OF THE NORTHERN PANHANDLE (EIN 550630721) - 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

1983

Legal Domicile

Principal Officer

LUKE MYERS

Phone

3047485041

Tax Period

2024-01-01 to 2024-12-31

BUSINESS DEVELOPMENT CORPORATION OF THE NORTHERN PANHANDLE, founded in 1983, is a community nonprofit in the Community Improvement sector that reported $4.9M in total revenue in fiscal year 2024. Revenue fell 32% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $902K, a strong 18% operating margin.

Mission

TO PROVIDE LEADERSHIP IN ORDER TO STIMULATE INVESTMENTS AND COORDINATE PARTNERSHIPS TO FOSTER THE GROWTH OF JOBS AND ENHANCE THE QUALITY OF LIFE IN THE LOCAL TRI STATE AREA.

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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 $492,067

Program Service Revenue $4,101,656

Investment Income $265,565

Other Revenue $20,983

TOTAL REVENUE $4,880,271

Expense Breakdown

Grants Paid $0

Salaries & Benefits $383,724

Fundraising Expenses $0

Program Expenses $3,704,530

Other Expenses $3,594,707

TOTAL EXPENSES $3,978,431

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,880,271	$7,173,321	-0.3%
Expenses	$3,978,431	$3,217,000	+0.2%
Net Income	$901,840	$3,956,321	-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

$94,750

Total Directors

$94,750

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN FRANKOVITCH	DIRECTOR	1.00	Director	$0	$0	$0
AJ THOMAS	DIRECTOR	1.00	Director	$0	$0	$0
PAUL COWEY	DIRECTOR	1.00	Director	$0	$0	$0
LUKE MYERS	PRESIDENT	2.00	Officer Director	$0	$0	$0
JOE PAOLO	DIRECTOR	1.00	Director	$0	$0	$0
BOB REED	DIRECTOR	1.00	Director	$0	$0	$0
CHUCK BELL	DIRECTOR	1.00	Director	$0	$0	$0
BECKY UHLLY	DIRECTOR	1.00	Director	$0	$0	$0
STEVE MAGUSCHAK	DIRECTOR	1.00	Director	$0	$0	$0
DAVID FRANJOINE	DIRECTOR	1.00	Director	$0	$0	$0
DEBBIE PUSKARICH	DIRECTOR	1.00	Director	$0	$0	$0
TERRY WEIGEL	DIRECTOR	1.00	Director	$0	$0	$0
FLORA PERRONE	DIRECTOR	1.00	Director	$0	$0	$0
SHIRLEY KEMP	DIRECTOR	1.00	Director	$0	$0	$0
DAVID KLICK	DIRECTOR	1.00	Director	$0	$0	$0
DAVE VELEGOL	DIRECTOR	1.00	Director	$0	$0	$0
DAVID ARTIMAN	TREASURER	2.00	Officer Director	$0	$0	$0
JOSEPH LUCKINO	DIRECTOR	0.00	Director	$0	$0	$0
ANTHONY CLEMENTS	EXECUTIVE DIRECTOR/SECRETARY	40.00	Officer Director	$94,750	$0	$94,750
JACOB KEENEY	FORMER CO-EXECUTIVE DIRECTOR	40.00		$129,842	$0	$129,842

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	$4,880,271	$3,978,431	$175,157,340	$901,840
2023	$7,173,321	$3,217,000	$68,622,453	$3,956,321
2022	$4,644,626	$2,566,598	$24,515,891	$2,078,028
2021	$4,528,897	$2,746,658	$14,386,715	$1,782,239
2020	$2,772,229	$2,628,188	$12,102,429	$144,041
2019	$4,066,006	$3,727,516	$12,242,153	$338,490
2018	$2,505,292	$2,491,652	$9,781,522	$13,640

BUSINESS DEVELOPMENT CORPORATION OF THE NORTHERN PANHANDLE