TITUSVILLE DEVELOPMENT CORPORATION

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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

DR RONALD BAYLES

Tax Period

2023-01-01 to 2023-12-31

TITUSVILLE DEVELOPMENT CORPORATION, founded in 1984, is a small nonprofit that reported $735K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Net assets of $1.8M represent 30 months of operating reserves.

Mission

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

Program Service Accomplishments

Program 1

Expenses: $720,145 Revenue: $14,719

Titusville Development Corporations Senior Citizens Programs offer health and wellness classes, financial education workshops, meals on wheels and a community food pantry. Titusville Development...

Titusville Development Corporations Senior Citizens Programs offer health and wellness classes, financial education workshops, meals on wheels and a community food pantry. Titusville Development Corporation offers senior citizens affordable housing development programming and we are excited to have expanded our mission to include providing affordable housing to through the path of homeownership. Our donations come from corporate and public/government partners for the purpose of construction and/or rehabing land/homes and keeping these properties within affordable ranges for senior citizens and families in our community.

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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 (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