BOONE COUNTY ECONOMIC DEVELOPMENT … - 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

Legal Domicile

Principal Officer

CRAIG CAMPBELL

Phone

8707417474

Tax Period

2023-01-01 to 2023-12-31

BOONE COUNTY ECONOMIC DEVELOPMENT CORPORATION is a micro nonprofit that reported $25K in total revenue in fiscal year 2023. Revenue surged 276% from the prior year, signaling strong growth momentum. Expenses of $903K exceeded revenue, resulting in a 3560% operating deficit.

Mission

TO DEVELOP AN INDUSTRIAL PARK AND FACILITATE WORKFORCE DEVELOPMENT FOR BOONE COUNTY, ARKANSAS

Program Service Accomplishments

Program 1

Expenses: $700,000

TO FUND THE BUILDING OF THE CENTER FOR ROBOTICS MANUFACTURING AND INNOVATION BUILDING ON THE NORTH ARKANSAS COLLEGE CAMPUS.

Program 2

Expenses: $197,389

PROVIDES 150,000 FOR A CENTER FOR ROBOTICS MANUFACTING AND INNOVATION (CRMI) SCHOLARSHIP FUND. NORTHWEST ARKANSAS ECONOMIC DEVELOPMENT INC. (NWAEDD), WITH APPROPRIATE PARTNERS, WILL DEVELOP A...

PROVIDES 150,000 FOR A CENTER FOR ROBOTICS MANUFACTING AND INNOVATION (CRMI) SCHOLARSHIP FUND. NORTHWEST ARKANSAS ECONOMIC DEVELOPMENT INC. (NWAEDD), WITH APPROPRIATE PARTNERS, WILL DEVELOP A SCHOLARSHIP PROGRAM FOR STUDENTS ATTENDING THE CRMI. ADDITIONAL FUNDS WILL BE PLACED IN A "SPECIAL WORKFORCE FUND" TO BE DISTRIBUTED TO PAY FOR ANY ADDITIONAL ITEMS THAT ARE NOT ELIGIBLE TO BE PAID UNDER FEDERAL PROGRAMS BUT ARE AN URGENT FINANCIAL NEED FOR STUDENTS.

Program 3

Expenses: $3,814

TRANSFERRED 5 ACRES OF LAND TO NWAEDD UNDER THE DIRECTION OF JOE WILLIS TO BE USED AT THEIR DISCRETION.

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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 $0

Program Service Revenue $0

Investment Income $24,672

Other Revenue $0

TOTAL REVENUE $24,672

Expense Breakdown

Grants Paid $901,203

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $901,203

Other Expenses $1,737

TOTAL EXPENSES $902,940

Year-over-Year Comparison

	2023	2022	Change
Revenue	$24,672	$6,562	+2.8%
Expenses	$902,940	$1,923	+468.5%
Net Income	$-878,268	$4,639	-190.3%

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
CATHY BRANDT	TREASURER	1.00	Officer	$0	$0	$0
CRAIG CAMPBELL	PRESIDENT	4.00	Officer	$0	$0	$0
JANE CHRISTENSON	DIRECTOR	N/A	Director	$0	$0	$0
BRAD CRAWFORD	SECRETARY	N/A	Officer	$0	$0	$0
DR RICK MASSENGALE	DIRECTOR	N/A	Director	$0	$0	$0
MIKE MCNUTT	DIRECTOR	N/A	Director	$0	$0	$0
SCOTT MILLER	VICE PRESIDE	N/A	Officer	$0	$0	$0
LAYNE RAGSDALE	DIRECTOR	N/A	Director	$0	$0	$0
KEN REEVES	DIRECTOR	N/A	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
2023	$24,672	$902,940	No data	$-878,268
2022	$6,562	$1,923	$878,268	$4,639
2021	$8,165	$711	$873,629	$7,454
2020	$15,853	$12,742	$866,175	$3,111
2019	$28,194	$45,976	$863,064	$-17,782
2018	$15,775	$68,117	$880,846	$-52,342

BOONE COUNTY ECONOMIC DEVELOPMENT CORPORATION