GIDDINGS ECONOMIC DEVELOPMENT CORP

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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

MEGAN KIRK

Phone

9795422067

Tax Period

2023-10-01 to 2024-09-30

GIDDINGS ECONOMIC DEVELOPMENT CORP, founded in 1996, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. The organization ran a surplus of $480K, a strong 45% operating margin.

Mission

GEDC IS FOCUSED ON GROWING THE ECONOMY AND JOBS IN GIDDINGS, TEXAS, WE ARE AGGRESSIVELY PRO-BUSINESS WITH A PROVEN TRACK RECORD. THE GIDDINGS ECONOMIC DEVELOPMENT CORPORATION SERVES THE LOCAL BUSINESS COMMUNITY AND THOSE SEEKING TO EXPAND OR LOCATE INTO THE AREA.

Program Service Accomplishments

Program 1

Expenses: $446,214 Revenue: $990,342

PROMOTE ECONOMIC DEVELOPMENT IN GIDDINGS, TX BY PROVIDING BUSINESS RETENTION AND EXPANSION GRANTS, BUSINESS ATTRACTION GRANTS AND PRESERVING AND RESTORING HISTORIC PROPERTIES FOR DOWNTOWN...

PROMOTE ECONOMIC DEVELOPMENT IN GIDDINGS, TX BY PROVIDING BUSINESS RETENTION AND EXPANSION GRANTS, BUSINESS ATTRACTION GRANTS AND PRESERVING AND RESTORING HISTORIC PROPERTIES FOR DOWNTOWN REVITALIZATION.

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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 $986,592

Investment Income $78,730

Other Revenue $3,750

TOTAL REVENUE $1,069,072

Expense Breakdown

Grants Paid $0

Salaries & Benefits $60,152

Fundraising Expenses $0

Program Expenses $446,214

Other Expenses $529,177

TOTAL EXPENSES $589,329

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,069,072	$987,363	+0.1%
Expenses	$589,329	$799,998	-0.3%
Net Income	$479,743	$187,365	+1.6%

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

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
MEGAN KIRK	PRESIDENT	3.00	Officer Director	$0	$0	$0
KAYLA SCHNELL	TREASURER	3.00	Officer Director	$0	$0	$0
DEENA MUNIZ	BOARD MEMBER	1.00	Director	$0	$0	$0
ED JOHNSON	BOARD MEMBER	1.00	Director	$0	$0	$0
TONY FRANCIS	BOARD MEMBER	1.00	Director	$0	$0	$0
LINDA PRUITT	BOARD MEMBER	1.00	Director	$0	$0	$0
JACOB JANDA	BOARD 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	$1,069,072	$589,329	$5,850,594	$479,743
2023	$987,363	$799,998	$5,509,741	$187,365
2022	$704,225	$444,984	$5,371,991	$259,241
2021	$696,133	$427,122	$5,273,023	$269,011
2019	$729,944	$459,082	$4,677,994	$270,862