LAKE MARTIN ECONOMIC DEV ALLIANCE … - 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

1998

Legal Domicile

Principal Officer

TC COLEY

Phone

2562154411

Tax Period

2023-10-01 to 2024-09-30

LAKE MARTIN ECONOMIC DEV ALLIANCE INC, founded in 1998, is a small nonprofit that reported $313K in total revenue in fiscal year 2023. The organization ran a surplus of $99K, a strong 32% operating margin.

Mission

THE MISSION IS TWO FOLD, TO ATTRACT NEW BUSINESS TO THE AREA AND RETENTION OF EXISTING BUSINESS AND INDUSTRY.

Program Service Accomplishments

Program 1

THE MISSION IS TWO FOLD, TO ATTRACT NEW BUSINESS TO THE AREA AND RETENTION OF EXISTING BUSINESS AND INDUSTRY.

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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 $312,436

Program Service Revenue $0

Investment Income $453

Other Revenue $0

TOTAL REVENUE $312,889

Expense Breakdown

Grants Paid $0

Salaries & Benefits $121,997

Fundraising Expenses $0

Other Expenses $91,650

TOTAL EXPENSES $213,647

Year-over-Year Comparison

	2023	2022	Change
Revenue	$312,889	$304,925	+0.0%
Expenses	$213,647	$331,220	-0.4%
Net Income	$99,242	$-26,295	-4.8%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
WOODY BAIRD	EXECUTIVE COMMITTEE	Director	$0	$0	$0
PHIL BLASINGAME	DIRECTOR	Director	$0	$0	$0
TC COLEY	CHAIRMAN	Director	$0	$0	$0
BUFFY COLVIN	DIRECTOR	Director	$0	$0	$0
RANDY DAWKINS	DIRECTOR	Director	$0	$0	$0
TAL EAST	EXECUTIVE COMMITTEE	Director	$0	$0	$0
LORI HARRELL	DIRECTOR	Director	$0	$0	$0
JIM PEACE	EXECUTIVE COMMITTEE	Director	$0	$0	$0
DAVID STURDIVANT	EXECUTIVE COMMITTEE	Director	$0	$0	$0
JIMMY FRANK GOODMAN	EXECUTIVE COMMITTEE	Director	$0	$0	$0
RICHARD DEAN	EXECUTIVE COMMITTEE	Director	$0	$0	$0
ANDREA ELLIS-MORRIS	DIRECTOR	Director	$0	$0	$0
JEFF LYNN	DIRECTOR	Director	$0	$0	$0
CONNIE BAINBRIDGE	DIRECTOR	Director	$0	$0	$0
STEVE ROBINSON	DIRECTOR	Director	$0	$0	$0
LAMAR DAUGHTERY	DIRECTOR	Director	$0	$0	$0
LEISA WOODY	DIRECTOR	Director	$0	$0	$0
RACHEL MCCORMICK	DIRECTOR	Director	$0	$0	$0
LES SELLERS	DIRECTOR	Director	$0	$0	$0
IW KIM	DIRECTOR	Director	$0	$0	$0
SANDRA HOWELL	DIRECTOR	Director	$0	$0	$0
JOHN STRICKLAND	DIRECTOR	Director	$0	$0	$0
LISA MILLER	DIRECTOR	Director	$0	$0	$0
MARK SPENCER	DIRECTOR	Director	$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	$312,889	$213,647	$181,193	$99,242
2023	$304,925	$331,220	$96,236	$-26,295
2022	$285,661	$254,119	$122,531	$31,542
2021	$307,411	$352,779	$90,989	$-45,368
2020	$300,672	$208,382	$136,357	$92,290
2019	$266,210	$262,685	$44,067	$3,525
2018	$318,165	$332,118	$40,542	$-13,953

LAKE MARTIN ECONOMIC DEV ALLIANCE INC