ROWAN ECONOMIC DEVELOPMENT COUNCIL (EIN 561442745) - 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

1984

Legal Domicile

Principal Officer

ROD CRIDER

Phone

7046375526

Tax Period

2024-01-01 to 2024-12-31

ROWAN ECONOMIC DEVELOPMENT COUNCIL, founded in 1984, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Expenses of $1.4M exceeded revenue, resulting in a 17% operating deficit.

Mission

PROMOTING ECONOMIC AND INDUSTRIAL DEVELOPMENT IN ROWAN COUNTY, NORTH CAROLINA

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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 $1,156,740

Program Service Revenue $0

Investment Income $8,093

Other Revenue $0

TOTAL REVENUE $1,164,833

Expense Breakdown

Grants Paid $0

Salaries & Benefits $770,011

Fundraising Expenses $13,165

Program Expenses $1,355,390

Other Expenses $585,379

TOTAL EXPENSES $1,368,555

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,164,833	$1,182,628	0.0%
Expenses	$1,368,555	$1,106,231	+0.2%
Net Income	$-203,722	$76,397	-3.7%

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

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

$208,317

Total Directors

$208,317

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NICOLE HOLMES MATANGIRA	CHAIRPERSON	0.00	Officer Director	$0	$0	$0
GARY BLABON	IMMEDIATE PA	0.00	Director	$0	$0	$0
TIM PROPER	VICE CHAIR	0.00	Officer Director	$0	$0	$0
ROD CRIDER	PRESIDENT &	40.00	Officer Director	$208,317	$0	$208,317
LARRY ROTH	SECRETARY /	0.00	Officer Director	$0	$0	$0
GREG ALCORN	BOARD MEMBER	0.00	Director	$0	$0	$0
DR ANTHONY DAVIS	BOARD MEMBER	0.00	Director	$0	$0	$0
LUKE FISHER	BOARD MEMBER	0.00	Director	$0	$0	$0
KARLA FOSTER LEONARD	BOARD MEMBER	0.00	Director	$0	$0	$0
CYNTHIA MYNATT	BOARD MEMBER	0.00	Director	$0	$0	$0
TERRY OSBORNE	BOARD MEMBER	0.00	Director	$0	$0	$0
ASHLEY STEWART	BOARD MEMBER	0.00	Director	$0	$0	$0
VICTOR WALLACE	BOARD MEMBER	0.00	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
2024	$1,164,833	$1,368,555	$467,256	$-203,722
2023	$1,182,628	$1,106,231	$671,419	$76,397
2022	$1,162,948	$1,053,416	$595,021	$109,532
2021	$615,272	$490,899	$483,390	$124,373
2021	$1,038,746	$1,016,385	$358,607	$22,361
2020	$885,306	$1,123,917	$340,059	$-238,611
2019	$935,305	$881,687	$574,857	$53,618

ROWAN ECONOMIC DEVELOPMENT COUNCIL