KENTUCKY ASSOCIATION FOR ECONOMIC DEVELOPMENT INC (EIN 743242650) - 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

Phone

5022279653

Tax Period

2023-01-01 to 2023-12-31

KENTUCKY ASSOCIATION FOR ECONOMIC DEVELOPMENT INC is a small nonprofit in the Community Improvement sector that reported $537K in total revenue in fiscal year 2023. Revenue fell 71% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 101% operating deficit.

Mission

OUR PURPOSE IS TO EDUCATE, ADVOCATE AND CONNECT WITH OUR MEMBERS ON ISSUES THAT ARE IMPORTANT TO THE ECONOMIC DEVELOPMENT IN THE COMMONWEALTH OF KENTUCKY.

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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 $30,000

Program Service Revenue $483,700

Investment Income $23,416

Other Revenue $0

TOTAL REVENUE $537,116

Expense Breakdown

Grants Paid $0

Salaries & Benefits $196,928

Fundraising Expenses $0

Other Expenses $883,221

TOTAL EXPENSES $1,080,149

Year-over-Year Comparison

	2023	2022	Change
Revenue	$537,116	$1,883,550	-0.7%
Expenses	$1,080,149	$1,190,069	-0.1%
Net Income	$-543,033	$693,481	-1.8%

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
AMANDA DAVENPORT	CHAIRPERSON	2.00	Director	$0	$0	$0
KIMBERLY ROSSETTI	CHAIR-ELECT	2.00	Officer Director	$0	$0	$0
RAY HAGERMAN	SEC/TREAS	2.00	Officer Director	$0	$0	$0
BRETT TRAVER	IMMED PAST CHAI	2.00	Director	$0	$0	$0
AMANDA CLARK	Director	2.00	Director	$0	$0	$0
GINA GREATHOUSE	Director	2.00	Director	$0	$0	$0
CARTER HENDRICKS	Director	2.00	Officer Director	$0	$0	$0
RODNEY HITCH	Director	2.00	Director	$0	$0	$0
DANNY ISAACS	Director	2.00	Director	$0	$0	$0
BRITTANEY JOHNSON	Director	2.00	Director	$0	$0	$0
COLBY KIRK	Director	2.00	Director	$0	$0	$0
JASON SLONE	Director	2.00	Director	$0	$0	$0
TOM WEST	Director	2.00	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	$537,116	$1,080,149	$2,864,991	$-543,033
2022	$1,883,550	$1,190,069	$3,478,711	$693,481
2021	$1,500,072	$522,720	$2,734,558	$977,352
2020	$379,913	$232,995	$1,714,434	$146,918
2019	$680,288	$433,398	$1,472,264	$246,890
2018	$435,699	$548,492	$1,194,383	$-112,793

KENTUCKY ASSOCIATION FOR ECONOMIC DEVELOPMENT INC