ECONOMIC DEVELOPMENT ASSOCIATION

EIN: 630577301

DECATUR, AL

Total Revenue
$467,770
Total Expenses
$335,909
Total Assets
$2,593,491
Net Assets
$2,350,446
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
AL
Principal Officer
JEREMY W NAILS
Phone
2563531213
Tax Period
2023-10-01 to 2024-09-30

ECONOMIC DEVELOPMENT ASSOCIATION, founded in 1969, is a small nonprofit that reported $352K in total revenue in fiscal year 2017. Revenue decreased 7% compared to the prior year. Expenses of $310K left a modest 12% surplus.

Mission

ECONOMIC DEVELOPMENT IN MORGAN 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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $371,370
Investment Income $90,287
Other Revenue $6,113
TOTAL REVENUE $467,770

Expense Breakdown

Grants Paid $0
Salaries & Benefits $183,230
Fundraising Expenses $48,450
Program Expenses $167,958
Other Expenses $152,679
TOTAL EXPENSES $335,909

Year-over-Year Comparison

2023 2022 Change
Revenue $467,770 $448,217 +0.0%
Expenses $335,909 $346,336 0.0%
Net Income $131,861 $101,881 +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

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Governance

Voting Members
14
Independent Members
14
Employees
4
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
5
$0
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CRYSTAL BROWN NON-VOTING M N/A
Director
$0 $0 $0
GREG CLEMONS TREASURER N/A
Officer Director
$0 $0 $0
KEVIN CORUM VICE CHAIRMA N/A
Officer Director
$0 $0 $0
RAY HARDIN MEMBER N/A
Director
$0 $0 $0
JOHN HOLLEY MEMBER N/A
Director
$0 $0 $0
CHRIS HOWARD MEMBER N/A
Director
$0 $0 $0
GENE KANIKOVSKY MEMBER N/A
Director
$0 $0 $0
GARY LIVINGSTON MEMBER N/A
Director
$0 $0 $0
ARTHUR ORR CHAIRMAN N/A
Officer Director
$0 $0 $0
KELLI POWERS MEMBER N/A
Director
$0 $0 $0
JASMINE SANDERFER NON-VOTING M N/A
Director
$0 $0 $0
BOB SITTASON MEMBER N/A
Director
$0 $0 $0
STEWART SMALLWOOD MEMBER N/A
Director
$0 $0 $0
JIMMY RAY SMITH MEMBER N/A
Director
$0 $0 $0
WADE WEAVER MEMBER N/A
Director
$0 $0 $0
MARY ILA WARD SECRETARY N/A
Officer Director
$0 $0 $0
JEREMY W NAILS PRESIDENT 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
2024 $467,770 $335,909 $2,593,491 $131,861
2023 $448,217 $346,336 $2,461,274 $101,881
2022 $382,417 $300,911 $2,122,081 $81,506
2021 $395,859 $273,811 $2,039,638 $122,048
2020 $409,829 $270,349 $1,915,305 $139,480
2019 $398,749 $276,270 $1,781,068 $122,479
2018 $351,877 $309,998 $1,655,147 $41,879
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