SOUTHERN ECONOMIC DEVELOPMENT COUNCIL (EIN 586075177) - 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

1968

Legal Domicile

Principal Officer

MATTHEW TACKETT

Phone

4045233030

Tax Period

2024-01-01 to 2024-12-31

SOUTHERN ECONOMIC DEVELOPMENT COUNCIL, founded in 1968, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 50% from the prior year, signaling strong growth momentum.

Mission

PURSUE HIGH PERSONAL AND PROFESSIONAL STANDARDS TO ENHANCE THE IMAGE OF THE ECONOMIC DEVELOPMENT PROCESS. 2) PROVIDE PROFESSIONAL SERVICE AND EDUCATIONAL OPPORTUNITIES TO DEVELOP AND IMPROVE MEMBER SKILLS. 3) IMPROVE QUALITY OF LIFE OF CITIZENS OF REGION THROUGH IMPLEMENTATION, CREATION & RETENTION OF QUALITY EMPLOYMENT OPPORTUNITIES.

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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 $267,144

Program Service Revenue $1,060,882

Investment Income $17,038

Other Revenue $11,738

TOTAL REVENUE $1,356,802

Expense Breakdown

Grants Paid $0

Salaries & Benefits $349,088

Fundraising Expenses $0

Program Expenses $906,063

Other Expenses $1,016,937

TOTAL EXPENSES $1,366,025

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,356,802	$904,536	+0.5%
Expenses	$1,366,025	$874,859	+0.6%
Net Income	$-9,223	$29,677	-1.3%

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

$159,983

Total Directors

$159,983

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW TACKETT	PRESIDENT	40.00	Officer Director	$159,983	$0	$159,983
JOE HINES	SECRETARY / TREASURER	1.00	Director	$0	$0	$0
SCOTT POAG	IMMEDIATE PAST CHAIRMAN	1.00	Director	$0	$0	$0
BRIAN GWIN	CHAIRMAN	1.00	Director	$0	$0	$0
JANA DYKE	FIRST VICE CHAIRMAN	1.00	Director	$0	$0	$0
RICHARD BLACKWELL	SOUTHEAST REGIONAL DIRECTO	1.00	Director	$0	$0	$0
COURTLAND ROBINSON	MID-ATLANTIC REGIONAL DIRE	1.00	Director	$0	$0	$0
CHRIS MASINGILL	WESTERN REGIONAL DIRECTOR	1.00	Director	$0	$0	$0
TIM WESTON	SECOND VICE CHAIRMAN	1.00	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	$1,356,802	$1,366,025	$721,810	$-9,223
2023	$904,536	$874,859	$573,366	$29,677
2022	$654,083	$619,836	$540,511	$34,247
2021	$721,605	$641,491	$431,186	$80,114
2020	$467,145	$429,982	$372,765	$37,163
2019	$664,304	$759,967	$393,566	$-95,663
2018	$683,479	$679,089	$477,694	$4,390

SOUTHERN ECONOMIC DEVELOPMENT COUNCIL