Greenville Area Development Corporation (EIN 571125289) - 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

2001

Legal Domicile

Phone

8642352008

Tax Period

2024-07-01 to 2025-06-30

Greenville Area Development Corporation, founded in 2001, is a community nonprofit in the Community Improvement sector that reported $2.5M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. The organization ran a surplus of $940K, a strong 37% operating margin.

Mission

PROMOTING AND ENHANCING THE ECONOMIC GROWTH AND DEVELOPMENT OF GREENVILLE COUNTY, SOUTH CAROLINA. GADC WAS FORMED BY GREENVILLE COUNTY COUNCIL.

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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 $2,420,985

Program Service Revenue $0

Investment Income $115,041

Other Revenue $0

TOTAL REVENUE $2,536,026

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,065,701

Fundraising Expenses $21,319

Program Expenses $1,306,694

Other Expenses $530,569

TOTAL EXPENSES $1,596,270

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,536,026	$2,684,993	-0.1%
Expenses	$1,596,270	$2,435,424	-0.3%
Net Income	$939,756	$249,569	+2.8%

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

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

$342,502

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHAD TUMBLIN	SECRETARY	1.0	Officer Director	$0	$0	$0
JIM BURNS	VICE CHAIR	1.0	Officer Director	$0	$0	$0
JUSTIN BAGWELL	TREASURER	1.0	Officer Director	$0	$0	$0
MARSHALL FRANKLIN	CHAIR	1.0	Officer Director	$0	$0	$0
AMANDA O'BRIEN	BOARD MEMBER	1.0	Director	$0	$0	$0
CHARLES PISZCZOR	BOARD MEMBER	1.0	Director	$0	$0	$0
DAN TRIPP	BOARD MEMBER	1.0	Director	$0	$0	$0
DR LARRY MILLER	BOARD MEMBER	1.0	Director	$0	$0	$0
H G BUTCH KIRVEN JR	BOARD MEMBER	1.0	Director	$0	$0	$0
LIZ SEMAN	BOARD MEMBER	1.0	Director	$0	$0	$0
MCNEIL EPPS	BOARD MEMBER	1.0	Director	$0	$0	$0
MICHAEL JOHNSON	BOARD MEMBER	1.0	Director	$0	$0	$0
SCOTT CHASE	BOARD MEMBER	1.0	Director	$0	$0	$0
WILLIAM MOON	BOARD MEMBER	1.0	Director	$0	$0	$0
KEVIN LANDMESSER	INTERIM CEO / SR VP	37.5	Officer	$143,081	$31,805	$174,886
MAXWELL STEWART	PRESIDENT	37.5	Officer	$139,404	$28,212	$167,616
CHARLES SMITH	SENIOR PROJECT MANAGER	37.5	Highest	$133,490	$34,294	$167,784
TAVIA GADDY	SENIOR PROJECT MANAGER / VP	37.5	Highest	$134,405	$37,942	$172,347

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	$2,536,026	$1,596,270	$3,985,153	$939,756
2024	No data	No data	No data	No data
2023	$2,199,110	$1,571,011	$2,817,864	$628,099
2022	$1,984,050	$4,129,398	$2,285,724	$-2,145,348
2021	$2,418,141	$2,385,995	$4,479,595	$32,146
2020	$2,380,406	$1,215,565	$4,206,871	$1,164,841
2019	$2,193,417	$1,520,441	$3,038,342	$672,976
2018	$1,982,197	$1,381,011	$2,453,249	$601,186

Greenville Area Development Corporation