BUSINESS DEVELOPMENT BOARD OF MART… - 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

1991

Legal Domicile

Principal Officer

WILLIAM CORBIN

Phone

7722211380

Tax Period

2024-10-01 to 2025-09-30

BUSINESS DEVELOPMENT BOARD OF MARTIN COUNTY INC, founded in 1991, is a small nonprofit that reported $643K in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion.

Mission

TO LEAD ECONOMIC DEVELOPMENT BY SUPPORTING LOCAL CONTRIBUTORY BUSINESSES, ATTRACTING INVESTMENT, AND FOSTERING JOB CREATION.

Program Service Accomplishments

Program 1

STARTING, GROWING, RETAINING AND WELCOMING NEW BUSINESSES AND INDUSTRIES IS THE CORE BUSINESS OF THE BDB. IN FY 2025, THE BDB WORKED WITH APPROXIMATELY ** BUSINESS DEVELOPERS SEEKING TO INVEST...

STARTING, GROWING, RETAINING AND WELCOMING NEW BUSINESSES AND INDUSTRIES IS THE CORE BUSINESS OF THE BDB. IN FY 2025, THE BDB WORKED WITH APPROXIMATELY ** BUSINESS DEVELOPERS SEEKING TO INVEST, START-UP, GROW, REMAIN OR RELOCATE TO MARTIN COUNTY. THE BDB ALSO ASSISTED *** BUSINESSES WITH ASSORTED NEEDS.

Program 2

RETAINING AND GROWING MARTIN COUNTY BUSINESSES AND COMPANIES (GROW OUR OWN) THROUGH THE BDBS PULSE PROGRAM. THESE ARE DETAILED IN-PERSON INTERVIEWS WITH BUSINESS OWNER-OPERATORS TO ASCERTAIN THE...

RETAINING AND GROWING MARTIN COUNTY BUSINESSES AND COMPANIES (GROW OUR OWN) THROUGH THE BDBS PULSE PROGRAM. THESE ARE DETAILED IN-PERSON INTERVIEWS WITH BUSINESS OWNER-OPERATORS TO ASCERTAIN THE NEEDS OF LOCAL BUSINESSES. RESULTS ARE USED TO FURTHER GUIDE PROGRAM ACTIVITIES. ORGANIZED EXPORT UNIVERSITY 101 TO INFORM AND EDUCATE BUSINESS OWNER-OPERATORS OF BASIC IMPORT-EXPORT METHODS, PROCEDURES, AND REQUIREMENTS; APPROXIMATELY ** PERSONS ATTENDED.

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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 $575,190

Investment Income $9,357

Other Revenue $58,000

TOTAL REVENUE $642,547

Expense Breakdown

Grants Paid $0

Salaries & Benefits $363,310

Fundraising Expenses $0

Other Expenses $311,227

TOTAL EXPENSES $674,537

Year-over-Year Comparison

	2024	2023	Change
Revenue	$642,547	$540,871	+0.2%
Expenses	$674,537	$591,027	+0.1%
Net Income	$-31,990	$-50,156	-0.4%

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

$9,281

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN RABINOWITZ	PRESIDENT	2.00	Officer Director	$0	$0	$0
DAN ROMENCE	PRESIDENT-ELECT	2.00	Officer Director	$0	$0	$0
ERIC KIEHN	PAST PRESIDENT	0.30	Director	$0	$0	$0
LAUREN ABBOTT	TREASURER	0.30	Officer Director	$0	$0	$0
DAVID ROSENDAHL	SECRETARY	0.30	Officer Director	$0	$0	$0
BRIAN BAUER	BOARD MEMBER	0.30	Director	$0	$0	$0
MARSHALL CRITCHFIELD	BOARD MEMBER	0.30	Director	$0	$0	$0
CARMINE DIPAOLO	BOARD MEMBER	0.30	Director	$0	$0	$0
PATRICK GLEASON	BOARD MEMBER	0.30	Director	$0	$0	$0
REED HARTMAN	BOARD MEMBER	0.30	Director	$0	$0	$0
STEVEN HARTZ	BOARD MEMBER	0.30	Director	$0	$0	$0
MAYGAN JOHNSON	BOARD MEMBER	0.30	Director	$0	$0	$0
SEAN REED	BOARD MEMBER	0.30	Director	$0	$0	$0
RON ROSE	BOARD MEMBER	0.30	Director	$0	$0	$0
DAVID SNYDER	BOARD MEMBER	0.30	Director	$0	$0	$0
ED WEINBERG	BOARD MEMBER	0.30	Director	$0	$0	$0
TYSON WATERS	BOARD MEMBER	0.30	Director	$0	$0	$0
WILLIAM CORBIN	EXECUTIVE DIRECTOR	40.00	Officer	$9,281	$0	$9,281

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	$642,547	$674,537	$527,998	$-31,990
2024	$540,871	$591,027	$487,621	$-50,156
2023	$536,108	$572,862	$479,645	$-36,754
2022	$569,166	$490,657	$537,209	$78,509
2021	$509,385	$465,057	$481,013	$44,328
2020	$471,188	$428,212	$388,694	$42,976
2019	$472,528	$366,688	$338,489	$105,840
2018	$459,570	$445,071	$225,625	$14,499

BUSINESS DEVELOPMENT BOARD OF MARTIN COUNTY INC