The Industrial Development Corp of the City of McKenzie Tennessee (EIN 621248814) - 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

1962

Legal Domicile

Principal Officer

Monica Heath

Phone

7313522004

Tax Period

2024-07-01 to 2025-06-30

The Industrial Development Corp of the City of McKenzie Tennessee, founded in 1962, is a small nonprofit that reported $285K in total revenue in fiscal year 2024. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $351K exceeded revenue, resulting in a 23% operating deficit.

Mission

To attract and retain industries in the McKenzie TN area.

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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 $33,750

Program Service Revenue $0

Investment Income $72,941

Other Revenue $178,332

TOTAL REVENUE $285,023

Expense Breakdown

Grants Paid $0

Salaries & Benefits $81,948

Fundraising Expenses $0

Program Expenses $334,636

Other Expenses $269,264

TOTAL EXPENSES $351,212

Year-over-Year Comparison

	2024	2023	Change
Revenue	$285,023	$387,610	-0.3%
Expenses	$351,212	$544,612	-0.4%
Net Income	$-66,189	$-157,002	-0.6%

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

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
Letha Basford	Director	1.00	Director	$0	$0	$0
Daniel Hollowell	Director	1.00	Director	$0	$0	$0
Ricky Price	Vice Chairman	1.00	Officer Director	$0	$0	$0
Craig Hobson	Director	1.00	Director	$0	$0	$0
Chuck Sisson	Director	1.00	Director	$0	$0	$0
Mark Anderson II	Director	1.00	Director	$0	$0	$0
Joel Washburn	Chairman	2.00	Officer Director	$0	$0	$0
John Wright	Director	1.00	Director	$0	$0	$0
Dennis Coleman	Secretary	1.00	Officer 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	$285,023	$351,212	$4,109,864	$-66,189
2024	$387,610	$544,612	$4,334,245	$-157,002
2023	$217,339	$322,299	$4,504,611	$-104,960
2022	$1,645,711	$406,048	$3,609,090	$1,239,663
2021	$291,372	$225,847	$2,535,320	$65,525
2021	$278,374	$225,819	$2,358,260	$52,555
2020	$242,745	$221,682	$2,469,520	$21,063
2019	$554,730	$401,016	$2,150,584	$153,714
2018	$436,877	$439,935	$2,048,407	$-3,058

The Industrial Development Corp of the City of McKenzie Tennessee