WIREGRASS ECONOMIC DEVELOPMENT CORPORATION (EIN 631113305) - 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

1994

Legal Domicile

Principal Officer

JOHN L MITCHELL JR

Phone

3343934769

Tax Period

2024-01-01 to 2024-12-31

WIREGRASS ECONOMIC DEVELOPMENT CORPORATION, founded in 1994, is a small nonprofit that reported $505K in total revenue in fiscal year 2018. Revenue surged 69% from the prior year, signaling strong growth momentum. The organization ran a surplus of $177K, a strong 35% operating margin.

Mission

TO PROMOTE COMMERCIAL AND INDUSTRIAL GROWTH AND PROSPERITY FOR THE CITY OF ENTERPRISE, COFFEE COUNTY AND GENEVA COUNTY, ALABAMA. THE BOARD WILL PURSUE A PROGRAM WHICH INCLUDES, BUT IS NOT LIMITED TO: (1) ESTABLISH AND MAINTAIN A SUPPORT AND RETENTION PROGRAM FOR EXISTING BUSINESS AND INDUSTRY; (2) WORK TO MAINTAIN A HIGH PER CAPITA INCOME AND CREATE JOBS THAT PAY ABOVE THE AVERAGE WAGE RATES FOR SOUTHEAST ALABAMA; (3) RECRUIT NEW MANUFACTURING AND SERVICE SECTOR JOBS FOR OUR MARKET AREA; (4) WORK TO INCREASE RETAIL SALES WITHIN OUR TRADE AREA ON AN ANNUAL BASIS; AND, ALL OTHER AREAS DEEMED NECESSARY TO PROMOTE ECONOMIC DEVELOPMENT IN SOUTHEAST 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 (2024)

Revenue Breakdown

Contributions & Grants $332,659

Program Service Revenue $0

Investment Income $5,457

Other Revenue $123,496

TOTAL REVENUE $461,612

Expense Breakdown

Grants Paid $0

Salaries & Benefits $206,650

Fundraising Expenses $0

Program Expenses $341,679

Other Expenses $247,904

TOTAL EXPENSES $454,554

Year-over-Year Comparison

	2024	2023	Change
Revenue	$461,612	$377,146	+0.2%
Expenses	$454,554	$455,903	0.0%
Net Income	$7,058	$-78,757	-1.1%

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

$100,320

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIM BROWN	BOARD MEMBER	0.00	Director	$0	$0	$0
ROBBIN THOMPSON	TREASURER	0.00	Director	$0	$0	$0
JIMMY BLACK	SECRETARY	0.00	Director	$0	$0	$0
CHARLES HALLBERT	BOARD MEMBER	0.00	Director	$0	$0	$0
TRENT DILLARD	BOARD MEMBER	0.00	Director	$0	$0	$0
BRIAN MCLEOD	BOARD MEMBER	0.00	Director	$0	$0	$0
DANNY LONG	BOARD MEMBER	0.00	Director	$0	$0	$0
TOM MADDOX	BOARD MEMBER	0.00	Director	$0	$0	$0
JOHN L MITCHELL JR	CHAIRMAN	0.00	Director	$0	$0	$0
JASON THRASH	VICE CHAIR	0.00	Director	$0	$0	$0
MARK PARKER	BOARD MEMBER	0.00	Director	$0	$0	$0
JAMES TREY SHIVER	BOARD MEMBER	0.00	Director	$0	$0	$0
CASEY DORRILL	BOARD MEMBER	0.00	Director	$0	$0	$0
ROB RHOADES	BOARD MEMBER	0.00	Director	$0	$0	$0
JIMMY JONES	BOARD MEMBER	0.00	Director	$0	$0	$0
PAUL BARNES	BOARD MEMBER	0.00	Director	$0	$0	$0
DAVID HAYES	BOARD MEMBER	0.00	Director	$0	$0	$0
ADAM SHANKS	BOARD MEMBER	0.00	Director	$0	$0	$0
JACOB COWEN	BOARD MEMBER	0.00	Director	$0	$0	$0
O'NEAL BOSWELL	BOARD MEMBER	0.00	Director	$0	$0	$0
WILLIAM COOPER	BOARD MEMBER	0.00	Director	$0	$0	$0
WENDEL NOLEN	BOARD MEMBER	0.00	Director	$0	$0	$0
JOEY HESTER	BOARD MEMBER	0.00	Director	$0	$0	$0
TURNER TOWNSEND	BOARD MEMBER	0.00	Director	$0	$0	$0
TOBY SEAY	BOARD MEMBER	0.00	Director	$0	$0	$0
ROBERT HINSON	BOARD MEMBER	0.00	Director	$0	$0	$0
CHARLES CHUCK SCHIEFFER	TREASURER	0.00	Director	$0	$0	$0
JESSE QUILLEN	EXECUTIVE DIRECTOR	40.00	Officer	$100,320	$0	$100,320

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	$461,612	$454,554	$955,124	$7,058
2023	$377,146	$455,903	$930,957	$-78,757
2022	$445,491	$423,414	$1,008,357	$22,077
2021	$479,607	$383,787	$987,523	$95,820
2020	$512,644	$403,131	$894,163	$109,513
2019	$557,581	$537,353	$808,280	$20,228
2018	$505,041	$327,991	$802,821	$177,050

WIREGRASS ECONOMIC DEVELOPMENT CORPORATION