ROANOKE ECONOMIC DEVELOPMENT INC

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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

1999

Legal Domicile

Principal Officer

MARSHALL CHERRY

Phone

2522092236

Tax Period

2023-01-01 to 2023-12-31

ROANOKE ECONOMIC DEVELOPMENT INC, founded in 1999, is a small nonprofit in the Community Improvement sector that reported $766K in total revenue in fiscal year 2023. Expenses of $954K exceeded revenue, resulting in a 24% operating deficit.

Mission

THIS CORPORATION IS ORGANIZED FOR THE FOLLOWING PURPOSES: CHARITABLE, EDUCATIONAL, SCIENTIFIC, INDULGING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER THE SECTIONS 501(C)(3) AND 170(C)(2) OF THE INTERNAL REVENUE CODE OF 1986.

Program Service Accomplishments

Program 1

Expenses: $723,112

THIS CORPORATION IS ORGANIZED FOR THE FOLLOWING PURPOSES: CHARITABLE, EDUCATIONAL, SCIENTIFIC, INDULGING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT...

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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 (2023)

Revenue Breakdown

Contributions & Grants $711,629

Program Service Revenue $54,728

Investment Income $0

Other Revenue $0

TOTAL REVENUE $766,357

Expense Breakdown

Grants Paid $0

Salaries & Benefits $297,630

Fundraising Expenses $0

Program Expenses $723,112

Other Expenses $656,063

TOTAL EXPENSES $953,693

Year-over-Year Comparison

	2023	2022	Change
Revenue	$766,357	$712,657	+0.1%
Expenses	$953,693	$1,475,251	-0.4%
Net Income	$-187,336	$-762,594	-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

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
ALLEN W SPELLER	CHAIRMAN	1.00	Officer Director	$0	$0	$0
ROBERT NRIDDICK	VICE CHAIR	1.00	Officer Director	$0	$0	$0
DELORES H AMASON	SEC./TREASUR	1.00	Officer Director	$0	$0	$0
DARNELL LEE	DIRECTOR	1.00	Director	$0	$0	$0
KENNETH JERNIGAN	DIRECTOR	1.00	Director	$0	$0	$0
MARVA BOND	DIRECTOR	1.00	Director	$0	$0	$0
CAROLYN D BRADLEY	DIRECTOR	1.00	Director	$0	$0	$0
COLUMBUS JEFFERS	DIRECTOR	1.00	Director	$0	$0	$0
CINDY VAUGHAN	DIRECTOR	1.00	Director	$0	$0	$0
MARSHALL CHERRY	PRESIDENT &	1.00	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
2024	No data	No data	No data	No data
2023	$766,357	$953,693	$1,414,748	$-187,336
2022	$712,657	$1,475,251	$1,564,458	$-762,594
2021	$1,497,561	$845,041	$1,056,746	$652,520
2020	$223,015	$674,799	$1,171,513	$-451,784
2019	$983,849	$507,901	$897,813	$475,948
2018	$403,192	$387,555	$845,844	$15,637