MONTROSE ECONOMIC DEVELOPMENT CORPORATION (EIN 742041618) - Form 990 Financial Analysis & Trantor Score

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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

1957

Legal Domicile

Principal Officer

SANDRA HEAD

Phone

9702499438

Tax Period

2024-01-01 to 2024-12-31

MONTROSE ECONOMIC DEVELOPMENT CORPORATION, founded in 1957, is a small nonprofit that reported $136K in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. Expenses of $244K exceeded revenue, resulting in a 80% operating deficit.

Mission

THE MISSION OF MEDC IS TO STRENGTHEN MONTROSE COUNTY'S ECONOMIC BASE AND INCREASE THE STANDARD OF LIVING FOR ALL OF ITS RESIDENTS THROUGH THE RETENTION, EXPANSION, ATTRACTION, AND DEVELOPMENT OF PRIMARY JOBS AND CAPITAL INVESTMENTS. THIS MISSION INCLUDES THE PROMOTION OF WORKFORCE ENHANCEMENT, AGRICULTURE ADVANCEMENT, AND OTHER BUSINESS DEVELOPMENT THAT PROVIDES ECONOMIC DIVERSIFICATION AND STABILIZATION.

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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 $140,570

Program Service Revenue $0

Investment Income $7,422

Other Revenue $-12,118

TOTAL REVENUE $135,874

Expense Breakdown

Grants Paid $0

Salaries & Benefits $140,837

Fundraising Expenses $2,789

Other Expenses $103,587

TOTAL EXPENSES $244,424

Year-over-Year Comparison

	2024	2023	Change
Revenue	$135,874	$163,624	-0.2%
Expenses	$244,424	$217,910	+0.1%
Net Income	$-108,550	$-54,286	+1.0%

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

$130,304

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SANDY HEAD	EXECUTIVE DIRECTOR	40.00	Director	$80,000	$0	$80,000
DAVE FRANK	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINE KINION	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT LOCKE	DIRECTOR	1.00	Director	$0	$0	$0
ZANDER PARKER	DIRECTOR	1.00	Director	$0	$0	$0
MARTIN LUTZ	DIRECTOR	1.00	Director	$0	$0	$0
JEFF MENGENHAUSEN	DIRECTOR	1.00	Director	$0	$0	$0
JIMMY MERRIT	TREASURER	1.00	Officer Director	$0	$0	$0
STEVE METHENY	DIRECTOR	1.00	Director	$0	$0	$0
BUCK MILLER	PAST CHAIR	1.00	Officer Director	$0	$0	$0
FRANK RODRIGUEZ	DIRECTOR	1.00	Director	$0	$0	$0
JAMIE SAFF	VICE CHAIR	1.00	Officer Director	$0	$0	$0
CORRI SCHMIDT	CHAIR	1.00	Officer Director	$0	$0	$0
ANTHONY RUSSO	DIRECTOR	1.00	Director	$0	$0	$0
CARRIE STEPHENSON	DIRECTOR	1.00	Director	$0	$0	$0
MARI STEINBACK	DIRECTOR	1.00	Director	$0	$0	$0
MEGAN WILSON	DIRECTOR	1.00	Director	$0	$0	$0
STEVE POPE	DIRECTOR	1.00	Director	$0	$0	$0
DAVID SCHIELDT	SECRETARY	1.00	Officer Director	$0	$0	$0
PATRICIA CUMMINGS	EXECUTIVE ASSISTANT	40.00	Director	$50,304	$0	$50,304
JACK JOHNSTON	DIRECTOR	1.00	Director	$0	$0	$0
SUE HANSEN	DIRECTOR	1.00	Director	$0	$0	$0
TONYA MADDOX	DIRECTOR	1.00	Director	$0	$0	$0
ED HAWTHORNE	DIRECTOR	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	$135,874	$244,424	$269,099	$-108,550
2023	$163,624	$217,910	$380,170	$-54,286
2022	$139,991	$212,880	$436,577	$-72,889
2021	$375,991	$213,008	$509,578	$162,983

MONTROSE ECONOMIC DEVELOPMENT CORPORATION