Covington County Economic Development Comm (EIN 621504373) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1992

Legal Domicile

Principal Officer

Mark Parker

Tax Period

2023-10-01 to 2024-09-30

Covington County Economic Development Comm, founded in 1992, is a small nonprofit that reported $466K in total revenue in fiscal year 2017. Revenue surged 67% from the prior year, signaling strong growth momentum. Expenses of $513K exceeded revenue, resulting in a 10% operating deficit.

Mission

To promote industry and develop trade by inducing manufacturing, and commercial enterprises to locate and/or expand in Coviington County, Alabama.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $383,238

Program Service Revenue $0

Investment Income $-16,469

Other Revenue $131,474

TOTAL REVENUE $498,243

Expense Breakdown

Grants Paid $0

Salaries & Benefits $278,900

Fundraising Expenses $0

Program Expenses $523,704

Other Expenses $270,519

TOTAL EXPENSES $549,419

Year-over-Year Comparison

	2023	2022	Change
Revenue	$498,243	$475,240	+0.0%
Expenses	$549,419	$552,457	0.0%
Net Income	$-51,176	$-77,217	-0.3%

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

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
Bill Powers	Director	0.25	Director	$0	$0	$0
Patricia Gunter	Director	0.25	Director	$0	$0	$0
Vickie Demurs	Director	0.25	Director	$0	$0	$0
Michael Smith	Director	0.25	Director	$0	$0	$0
Gail Lee	Director	0.25	Director	$0	$0	$0
Daniel Wells	Director	0.25	Director	$0	$0	$0
Jed Blackwell	Director	0.25	Director	$0	$0	$0
Gail C Robbins	Director	0.25	Director	$0	$0	$0
Michael Andrews	Director	0.25	Director	$0	$0	$0
Becky Bracke	Director	0.25	Director	$0	$0	$0
Earl V Johnson	Director	0.25	Director	$0	$0	$0
Micah Garner	Director	0.25	Director	$0	$0	$0
Gary Smith	PresidentDirector	2.00	Officer Director	$0	$0	$0
Greg Henderson	TreaDirector	2.00	Officer Director	$0	$0	$0
Mark Parker	ChairmanDirector	4.00	Officer Director	$0	$0	$0
James Clifton	PresidentCEO	40.00	Officer	$0	$0	$0
Jacob Morgan	Vice PresidentSec	40.00	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
2024	$498,243	$549,419	$573,530	$-51,176
2023	$475,240	$552,457	$710,301	$-77,217
2022	$539,970	$610,520	$1,025,199	$-70,550
2021	$644,791	$470,342	$1,167,838	$174,449
2020	$561,112	$451,204	$1,131,267	$109,908
2019	$634,156	$566,562	$1,085,180	$67,594
2018	$465,793	$512,757	$1,177,231	$-46,964

Covington County Economic Development Comm