MIAMI AREA ECONOMIC DEVELOPMENT SE… - 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

1985

Principal Officer

SHANNON DUHON

Phone

9185428405

Tax Period

2023-01-01 to 2023-12-31

MIAMI AREA ECONOMIC DEVELOPMENT SERVICE INC, founded in 1985, is a micro nonprofit in the Community Improvement sector that reported $436K in total revenue in fiscal year 2023. Revenue fell 1379% from the prior year — a significant decline worth monitoring.

Mission

TO PROVIDE EXPANSION AND LOCATION ASSISTANCE TO EXISTING AND NEW BUSINESSES IN NORTHEASTERN OKLAHOMA.

Program Service Accomplishments

Program 1

Expenses: $23,444

MAEDS REVOLVING LOAN FUND

Program 2

Expenses: $110

ECONOMIC DEVELOPMENT AND LOCAL ENTREPENEUR LOAN FUND

Program 3

Expenses: $50

REVOLVING LOAN ADMINISTRATION FUND

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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 $107,950

Program Service Revenue $43,811

Investment Income $-596,795

Other Revenue $9,420

TOTAL REVENUE $-435,614

Expense Breakdown

Grants Paid $0

Salaries & Benefits $79,408

Fundraising Expenses $0

Program Expenses $23,604

Other Expenses $93,232

TOTAL EXPENSES $172,640

Year-over-Year Comparison

	2023	2022	Change
Revenue	$-435,614	$34,046	-13.8%
Expenses	$172,640	$24,200	+6.1%
Net Income	$-608,254	$9,846	-62.8%

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

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
SHANNON DUHON	DIRECTOR	40.00	Director	$0	$0	$0
HEATHER LILLARD	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
BRETT HAYES	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
AMANDA DAVIS	TREASURER	1.00	Officer Director	$0	$0	$0
ART COUSATTE	MEMBER	1.00	Director	$0	$0	$0
NICK BOWERS	MEMBER	1.00	Director	$0	$0	$0
BLAKE FLAMING	MEMBER	1.00	Director	$0	$0	$0
MIKE FURNAS	MEMBER	1.00	Director	$0	$0	$0
CRAIG HARPER	MEMBER	1.00	Director	$0	$0	$0
MICHAEL HART	MEMBER	1.00	Director	$0	$0	$0
NICK HIGHSMITH	MEMBER	1.00	Director	$0	$0	$0
BO REESE	MEMBER	1.00	Director	$0	$0	$0
DR KYLE STAFFORD	MEMBER	1.00	Director	$0	$0	$0
SHON TAYLOR	MEMBER	1.00	Director	$0	$0	$0
CAMERON WILKINS	MEMBER	1.00	Director	$0	$0	$0
KIRK WILLIAMS	MEMBER	1.00	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	No data	No data	No data	No data
2023	$-435,614	$172,640	$2,954,075	$-608,254
2022	$34,046	$24,200	$4,410,039	$9,846
2021	$212,165	$252,092	$4,355,656	$-39,927
2020	$210,366	$247,216	$4,594,665	$-36,850
2019	$218,255	$232,728	$4,950,552	$-14,473
2018	$226,330	$286,295	$5,002,199	$-59,965

MIAMI AREA ECONOMIC DEVELOPMENT SERVICE INC