GADSDEN-ETOWAH INDUSTRIAL DEVELOPM… - Form 990 Financial Data

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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

1984

Legal Domicile

Principal Officer

MIKE HARRIS

Phone

2565439423

Tax Period

2024-10-01 to 2025-09-30

GADSDEN-ETOWAH INDUSTRIAL DEVELOPMENT AUTHORITY, founded in 1984, is a small nonprofit that reported $619K in total revenue in fiscal year 2024. Expenses of $582K left a modest 6% surplus.

Mission

TO PROMOTE INDUSTRY AND DEVELOP TRADE BY INDUCING MANUFACTURING, INDUSTRIAL, AND COMMERCIAL ENTERPRISES TO LOCATE IN ETOWAH COUNTY, ALABAMA

Program Service Accomplishments

Program 1

Expenses: $468,645 Revenue: $602,884

TO PROMOTE INDUSTRY AND DEVELOP TRADE BY INDUCING MANUFACTURING, INDUSTRIAL, AND COMMERCIAL ENTERPRISES TO LOCATE IN ETOWAH COUNTY, ALABAMA

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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 $0

Program Service Revenue $602,884

Investment Income $16,329

Other Revenue $0

TOTAL REVENUE $619,213

Expense Breakdown

Grants Paid $0

Salaries & Benefits $309,084

Fundraising Expenses $0

Program Expenses $468,645

Other Expenses $272,847

TOTAL EXPENSES $581,931

Year-over-Year Comparison

	2024	2023	Change
Revenue	$619,213	$627,839	0.0%
Expenses	$581,931	$511,823	+0.1%
Net Income	$37,282	$116,016	-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

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

$215,841

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE HARRIS	PRESIDENT	1.00	Officer Director	$0	$0	$0
JEFF ALLEN	FINANCE CHAI	1.00	Officer Director	$0	$0	$0
JEFF LANKFORD	DIRECTOR	1.00	Director	$0	$0	$0
CHAD HARE	DIRECTOR	1.00	Director	$0	$0	$0
ANTHONY TARVER	DIRECTOR	1.00	Director	$0	$0	$0
KEITH BLACKWELL	DIRECTOR	1.00	Director	$0	$0	$0
DR ALAN COSBY	DIRECTOR	1.00	Director	$0	$0	$0
G KENT HANEY	DIRECTOR	1.00	Director	$0	$0	$0
NANDA PATEL	DIRECTOR	1.00	Director	$0	$0	$0
ALAN SMITH	DIRECTOR	1.00	Director	$0	$0	$0
DEVERICK WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
HUGH MILLER	DIRECTOR	1.00	Director	$0	$0	$0
CATHERINE MARTIN	DIRECTOR	1.00	Director	$0	$0	$0
TIM HEARD	DIRECTOR	1.00	Director	$0	$0	$0
SHANE ELLISON	DIRECTOR	1.00	Director	$0	$0	$0
JESSE BATTLES	DIRECTOR	1.00	Director	$0	$0	$0
WES SUTTON	DIRECTOR	1.00	Director	$0	$0	$0
PHIL OWENS	DIRECTOR	1.00	Director	$0	$0	$0
JAMES D HOOKS	EXECUTIVE DI	40.00	Officer	$100,000	$25,265	$125,265
WILLIAM GREENE	DEPUTY EXECU	40.00	Officer	$70,500	$20,076	$90,576

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	$619,213	$581,931	$1,059,690	$37,282
2024	$627,839	$511,823	$1,035,686	$116,016
2023	$562,433	$444,622	$841,609	$117,811
2022	$415,686	$365,386	$719,252	$50,300
2021	$457,186	$345,971	$663,197	$111,215
2020	$418,688	$339,730	$551,997	$78,958
2019	$377,202	$236,629	$473,502	$140,573
2018	$374,000	$171,276	$329,714	$202,724

GADSDEN-ETOWAH INDUSTRIAL DEVELOPMENT AUTHORITY