TITUSVILLE DEVELOPMENT CORPORATION (EIN 630964639) - 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

1984

Legal Domicile

Principal Officer

DR RONALD BAYLES

Tax Period

2023-01-01 to 2023-12-31

TITUSVILLE DEVELOPMENT CORPORATION INC, founded in 1984, is a small nonprofit that reported $907K in total revenue in fiscal year 2020. Revenue surged 67% from the prior year, signaling strong growth momentum. Expenses of $810K left a modest 11% surplus.

Mission

To empower the community by removing blight in low income neighborhoods, providing financial education workshops, and offering affordable housing.

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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 $241,771

Program Service Revenue $323,146

Investment Income $0

Other Revenue $169,947

TOTAL REVENUE $734,864

Expense Breakdown

Grants Paid $0

Salaries & Benefits $106,273

Fundraising Expenses $0

Program Expenses $720,145

Other Expenses $613,872

TOTAL EXPENSES $720,145

Year-over-Year Comparison

	2023	2022	Change
Revenue	$734,864	$842,030	-0.1%
Expenses	$720,145	$571,920	+0.3%
Net Income	$14,719	$270,110	-0.9%

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

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

$46,984

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR RONALD BAYLES	EXECUTIVE DIRECTOR	40.00	Officer	$46,984	$0	$46,984
JODI TRAUTWEIN	BOARD MEMBER	2.00	Director	$0	$0	$0
MARION STERLING	BOARD MEMBER	2.00	Director	$0	$0	$0
DR CATHY BRADFORD	SECRETARY	2.00	Director	$0	$0	$0
SHIRLEY HILL	TREASURER	2.00	Director	$0	$0	$0
RONALD MIMS	PRESIDENT	2.00	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	No data	No data	No data	No data
2023	$734,864	$720,145	$1,977,521	$14,719
2022	$842,030	$571,920	$2,497,014	$270,110
2021	$1,038,951	$881,678	$2,096,903	$157,273
2020	$907,168	$809,742	$1,890,244	$97,426

TITUSVILLE DEVELOPMENT CORPORATION