Richmond Economic Development Corporation (EIN 581375509) - 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

1979

Legal Domicile

Phone

9109978190

Tax Period

2023-04-01 to 2024-03-31

Richmond Economic Development Corporation, founded in 1979, is a small nonprofit in the Community Improvement sector that reported $120K in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. The organization ran a surplus of $107K, a strong 89% operating margin.

Mission

TO FACILITATE THE ECONOMIC DEVELOPMENT OF RICHMOND COUNTY

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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 $0

Program Service Revenue $0

Investment Income $15,409

Other Revenue $104,798

TOTAL REVENUE $120,207

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $13,018

Other Expenses $13,018

TOTAL EXPENSES $13,018

Year-over-Year Comparison

	2023	2022	Change
Revenue	$120,207	$99,609	+0.2%
Expenses	$13,018	$6,284	+1.1%
Net Income	$107,189	$93,325	+0.1%

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
N/A	VICE CHAIRMAN	0.5	Officer Director	$0	$0	$0
N/A	TREASURER	0.5	Officer Director	$0	$0	$0
N/A	SECRETARY	0.5	Officer Director	$0	$0	$0
N/A	CHAIRMAN	0.5	Officer Director	$0	$0	$0
N/A	Director	0.5	Director	$0	$0	$0
N/A	DIRECTOR	0.5	Director	$0	$0	$0
N/A	Director	0.5	Director	$0	$0	$0
N/A	Director	0.5	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
2025	No data	No data	No data	No data
2024	$120,207	$13,018	$633,762	$107,189
2023	$99,609	$6,284	$526,532	$93,325
2022	$-468,344	$25,753	$664,790	$-494,097
2021	$245,035	$51,880	$2,234,511	$193,155
2020	$15,024	$6,644	$1,921,180	$8,380
2019	$26,034	$4,723	$1,105,181	$21,311

Richmond Economic Development Corporation