MARKET LUBBOCK ECONOMIC DEVELOPMENT CORPORATION (EIN 752621353) - 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

1995

Legal Domicile

Principal Officer

JOHN OSBORNE

Phone

8067494500

Tax Period

2023-10-01 to 2024-09-30

MARKET LUBBOCK ECONOMIC DEVELOPMENT CORPORATION, founded in 1995, is a community nonprofit in the Community Improvement sector that reported $9.4M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year.

Mission

TO ENHANCE AND ENCOURAGE ECONOMIC DEVELOPMENT AND JOB CREATION AND FACILITATE THE DEVELOPMENT OF NEW INDUSTRIES. MANAGE AND OVERSEE THE OPERATIONS OF VISIT LUBBOCK AND FOREIGN TRADE ZONE 260. VISIT LUBBOCK ENCOMPASSES THE OPERATIONS OF THE CONVENTION AND VISITORS BUREAU AND LUBBOCK SPORTS.

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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 $8,947,622

Program Service Revenue $21,953

Investment Income $469,796

Other Revenue $0

TOTAL REVENUE $9,439,371

Expense Breakdown

Grants Paid $3,093,748

Salaries & Benefits $1,447,521

Fundraising Expenses $0

Program Expenses $7,689,590

Other Expenses $4,679,788

TOTAL EXPENSES $9,221,057

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,439,371	$10,379,213	-0.1%
Expenses	$9,221,057	$8,854,597	+0.0%
Net Income	$218,314	$1,524,616	-0.9%

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

$789,135

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES CONWRIGHT	CHAIRMAN	2.00	Officer Director	$0	$0	$0
SARAH BEVERS	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
JOHN OPPERMAN	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS CARPENTER	DIRECTOR	1.00	Director	$0	$0	$0
HENRY PATEL	DIRECTOR	1.00	Director	$0	$0	$0
SONNY GARZA	DIRECTOR	1.00	Director	$0	$0	$0
WALTER CATHEY	DIRECTOR	1.00	Director	$0	$0	$0
BLAKE WOMBLE	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA COLLIER	DIRECTOR	1.00	Director	$0	$0	$0
BRETT CATE	DIRECTOR	1.00	Director	$0	$0	$0
LORI RICE-SPEARMAN	DIRECTOR	1.00	Director	$0	$0	$0
JOHN OSBORNE	CEO	20.00	Officer	$0	$33,553	$405,825
JANA JOHNSTON	CFO/COO	20.00	Officer	$0	$20,008	$228,431
CHRISTINE ALLEN	VICE PRESIDENT	20.00	Officer	$0	$26,027	$154,879
CAROLYN ROWLEY	DIRECTOR OF BUSINESS RETEN	20.00	Highest	$0	$17,703	$144,013
KATHERINE WHITE	DIRECTOR OF MARKETING & CO	20.00	Highest	$0	$6,975	$133,712
JORGE QUIRINO	DIRECTOR OF DOWNTOWN & SPE	20.00	Highest	$0	$15,337	$142,918
ROBERT HARRISON	DIRECTOR OF SPORTS	40.00	Highest	$117,396	$13,967	$131,363
AMY ZIENTEK	DIRECTOR OF TOURISM	40.00	Highest	$114,677	$14,770	$129,447
DAVID RUSHING	DIRECTOR OF RECRUITMENT	20.00	Highest	$0	$7,034	$155,454

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	$9,439,371	$9,221,057	$12,675,101	$218,314
2023	$10,379,213	$8,854,597	$12,882,396	$1,524,616
2022	$9,055,238	$7,002,008	$11,036,152	$2,053,230
2021	$8,303,064	$5,059,935	$8,726,484	$3,243,129
2020	$6,919,339	$7,246,864	$5,553,218	$-327,525
2019	$8,088,548	$6,030,956	$10,656,956	$2,057,592
2018	$7,613,437	$12,112,938	$11,120,500	$-4,499,501

MARKET LUBBOCK ECONOMIC DEVELOPMENT CORPORATION