GALVESTON ECONOMIC DEVELOPMENT (EIN 760582349) - 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

1998

Legal Domicile

Principal Officer

BILL COLTZER

Phone

4097700216

Tax Period

2025-01-01 to 2025-12-31

GALVESTON ECONOMIC DEVELOPMENT, founded in 1998, is a small nonprofit in the Community Improvement sector that reported $250K in total revenue in fiscal year 2025. Revenue decreased 18% compared to the prior year. Expenses of $303K exceeded revenue, resulting in a 21% operating deficit.

Mission

PROMOTE AND DEVELOP ECONOMIC DEVELOPMENT ACTIVITIES

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $185,225

Investment Income $14,355

Other Revenue $50,450

TOTAL REVENUE $250,030

Expense Breakdown

Grants Paid $0

Salaries & Benefits $144,397

Fundraising Expenses $0

Program Expenses $303,263

Other Expenses $158,866

TOTAL EXPENSES $303,263

Year-over-Year Comparison

	2025	2024	Change
Revenue	$250,030	$306,449	-0.2%
Expenses	$303,263	$292,884	+0.0%
Net Income	$-53,233	$13,565	-4.9%

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

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
VICTOR PIERSON	DIRECTOR	1.00	Director	$0	$0	$0
JOHNNY SMECCA	DIRECTOR	1.00	Director	$0	$0	$0
TODD SULLIVAN	DIRECTOR	1.00	Director	$0	$0	$0
GALE BURKETT	DIRECTOR	1.00	Director	$0	$0	$0
HOWIE BENTLEY	DIRECTOR	1.00	Director	$0	$0	$0
KEITH BASSETT	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG BROWN	DIRECTOR	1.00	Director	$0	$0	$0
TODD SCOTT	DIRECTOR	1.00	Director	$0	$0	$0
BERT BAGLEY	DIRECTOR	1.00	Director	$0	$0	$0
RYAN DUGGAN	DIRECTOR	1.00	Director	$0	$0	$0
MIKE FOSSUM	DIRECTOR	1.00	Director	$0	$0	$0
MARIE ROBB	DIRECTOR	1.00	Director	$0	$0	$0
MAUREEN PATTON	DIRECTOR	1.00	Director	$0	$0	$0
DILAN GOODWIN	DIRECTOR	1.00	Director	$0	$0	$0
FRED RASCHKE	DIRECTOR	1.00	Director	$0	$0	$0
DARRELL CARNEY	DIRECTOR	1.00	Director	$0	$0	$0
JOHN KELSO	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN MAXWELL	DIRECTOR	1.00	Director	$0	$0	$0
MARTY MILES	DIRECTOR	1.00	Director	$0	$0	$0
JASON MILLS	DIRECTOR	1.00	Director	$0	$0	$0
RODGER REES	DIRECTOR	1.00	Director	$0	$0	$0
JOCHEN REISER	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE ROBINSON	DIRECTOR	1.00	Director	$0	$0	$0
GINA SPAGNOLA	DIRECTOR	1.00	Director	$0	$0	$0
VJ TRAMONTE	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW NEIGHBORS	DIRECTOR	1.00	Director	$0	$0	$0
BILL COLTZER	CHAIRMAN	1.00	Officer	$0	$0	$0
ALLAN RASMUSSSEN	TREASURER	2.00	Officer	$0	$0	$0
JONATHAN HALE	VICE CHAIRMAN	1.00	Officer	$0	$0	$0
JOSEPH ROZIER	SECRETARY	2.00	Officer	$0	$0	$0
MYLES SHELTON	PAST CHAIRMAN	1.00	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
2025	$250,030	$303,263	$40,609	$-53,233
2024	No data	No data	No data	No data
2023	$269,883	$281,967	$45,894	$-12,084
2022	$261,566	$260,657	$60,988	$909
2021	$298,949	$311,384	$57,212	$-12,435
2020	$313,498	$281,787	$69,504	$31,711
2019	$304,760	$322,870	$37,795	$-18,110
2018	$287,950	$351,205	$55,905	$-63,255

GALVESTON ECONOMIC DEVELOPMENT