CLEVELAND COUNTY ECONOMIC DEVELOPM… - 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

1996

Legal Domicile

Principal Officer

LAWRENCE MCKINNEY

Phone

4055731900

Tax Period

2024-01-01 to 2024-12-31

CLEVELAND COUNTY ECONOMIC DEVELOPMENT COALITION, founded in 1996, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2024. Revenue decreased 11% compared to the prior year. Expenses of $1.3M left a modest 13% surplus.

Mission

IMPROVING THE QUALITY OF LIFE OF NORMAN RESIDENTS THROUGH THE CREATION AND RETENTION OF JOBS.

Program Service Accomplishments

Program 1

ENCOURAGING AND PROMOTING EXPANSION OF THE ECONOMIC BASE FOR THE BENEFIT OF NORMAN, OK THROUGH THE RETENTION OF EXISTING BUSINESS AND INDUSTRY AND THE ATTRACTION OF NEW 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 (2024)

Revenue Breakdown

Contributions & Grants $500,478

Program Service Revenue $500,000

Investment Income $47,577

Other Revenue $416,398

TOTAL REVENUE $1,464,453

Expense Breakdown

Grants Paid $0

Salaries & Benefits $414,947

Fundraising Expenses $0

Other Expenses $858,826

TOTAL EXPENSES $1,273,773

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,464,453	$1,649,929	-0.1%
Expenses	$1,273,773	$1,211,102	+0.1%
Net Income	$190,680	$438,827	-0.6%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LAWRENCE MCKINNEY	PRESIDENT	N/A	Highest	$285,771	$11,137	$296,908
ANDY SHERRER	TREASURER	N/A	Director	$0	$0	$0
MATT CLOUSE	CHAIRPERSON	N/A	Officer	$0	$0	$0
VERNON MCKOWN	VICE CHAIRMA	N/A	Officer	$0	$0	$0
CHUCK THOMPSON	SECRETARY	N/A	Officer	$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	$1,464,453	$1,273,773	$11,978,903	$190,680
2023	$1,649,929	$1,211,102	$11,594,377	$438,827
2022	$604,848	$852,864	$10,350,923	$-248,016
2022	$1,287,549	$484,684	$11,149,889	$802,865
2021	$3,499,437	$527,104	$10,589,213	$2,972,333
2020	$688,157	$716,503	$12,387,468	$-28,346
2019	$1,497,347	$903,533	$13,079,947	$593,814
2018	$897,959	$1,258,676	$15,859,023	$-360,717

CLEVELAND COUNTY ECONOMIC DEVELOPMENT COALITION