MOREHEAD ROWAN COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (EIN 611126724) - 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

1990

Legal Domicile

Principal Officer

JASON SLONE

Phone

6067845874

Tax Period

2024-07-01 to 2025-06-30

MOREHEAD ROWAN COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY, founded in 1990, is a community nonprofit that reported $3.1M in total revenue in fiscal year 2024. Revenue surged 416% from the prior year, signaling strong growth momentum. The organization ran a surplus of $836K, a strong 27% operating margin.

Mission

THE AUTHORITY SERVES THE CITY OF MOREHEAD AND COUNTY OF ROWAN. THE GOAL IS TO PROMOTE AND MAINTAIN INDUSTRY. THE AUTHORITY PRESENTLY MAINTAINS 2 SITES FOR INDUSTRIAL EXPANSION

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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 $813,778

Program Service Revenue $0

Investment Income $2,534

Other Revenue $2,279,040

TOTAL REVENUE $3,095,352

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,246,676

Other Expenses $2,259,389

TOTAL EXPENSES $2,259,389

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,095,352	$600,054	+4.2%
Expenses	$2,259,389	$101,154	+21.3%
Net Income	$835,963	$498,900	+0.7%

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

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
PAUL GOODPASTER	DIRECTOR	N/A	Director	$0	$0	$0
MIKE KNUDSON	DIRECTOR	N/A	Director	$0	$0	$0
DONALD LLOYD	DIRECTOR	N/A	Director	$0	$0	$0
JASON SLONE	DIRECTOR	N/A	Director	$0	$0	$0
JENNIFER ANDERSON	OFFICER	N/A	Officer	$0	$0	$0
MICHAEL ROWE	OFFICER	N/A	Officer	$0	$0	$0
SHANA SAVARD-HOGGE	OFFICER	N/A	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
2025	$3,095,352	$2,259,389	$3,208,369	$835,963
2024	$600,054	$101,154	$3,828,974	$498,900
2022	$320,030	$5,400	$1,692,519	$314,630
2021	$993,093	$4,940	$1,377,889	$988,153
2020	$245,407	$265,751	$389,736	$-20,344

MOREHEAD ROWAN COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY