KERN ECONOMIC DEVELOPMENT CORPORATION (EIN 770151886) - 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

1986

Legal Domicile

Principal Officer

RICHARD CHAPMAN

Phone

6618625150

Tax Period

2022-07-01 to 2023-06-30

KERN ECONOMIC DEVELOPMENT CORPORATION, founded in 1986, is a small nonprofit that reported $930K in total revenue in fiscal year 2022. Expenses of $857K left a modest 8% surplus.

Mission

ATTRACTING NEW BUSINESS & INDUSTRY TO ALL CITIES & COMMUNITIES IN KERN COUNTY. RETAIN EXISTING INDUSTRY & COMPILE DATA TO ATTRACT NEW INDUSTRY.

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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 (2022)

Revenue Breakdown

Contributions & Grants $221,782

Program Service Revenue $651,553

Investment Income $1,386

Other Revenue $55,540

TOTAL REVENUE $930,261

Expense Breakdown

Grants Paid $0

Salaries & Benefits $634,449

Fundraising Expenses $0

Other Expenses $222,087

TOTAL EXPENSES $856,536

Year-over-Year Comparison

	2022	2021	Change
Revenue	$930,261	$971,949	0.0%
Expenses	$856,536	$792,500	+0.1%
Net Income	$73,725	$179,449	-0.6%

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

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

$177,965

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALYSSA ARMESTO	DIRECTOR	1.00	Director	$0	$0	$0
JIMMY BALENTINE	DIRECTOR	1.00	Director	$0	$0	$0
ROB DUCHOW	DIRECTOR	1.00	Director	$0	$0	$0
BILL FARRIS	DIRECTOR	1.00	Director	$0	$0	$0
TED CORDOVA	DIRECTOR	1.00	Director	$0	$0	$0
DAREN ALEXANDER	DIRECTOR	1.00	Director	$0	$0	$0
DAVID HOWLETT	DIRECTOR	1.00	Director	$0	$0	$0
TIM CURLEY	DIRECTOR	1.00	Director	$0	$0	$0
SAUL AYON	DIRECTOR	1.00	Director	$0	$0	$0
ROMAN CYRUS	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN BAUTISTA	DIRECTOR	1.00	Director	$0	$0	$0
RICK KREISER	DIRECTOR	1.00	Director	$0	$0	$0
WAYNE KRESS	DIRECTOR	1.00	Director	$0	$0	$0
JOSH BRYANT	DIRECTOR	1.00	Director	$0	$0	$0
JOE HAY	DIRECTOR	1.00	Director	$0	$0	$0
ALEXANDRO GARCIA	DIRECTOR	1.00	Director	$0	$0	$0
MIKE MOORE	DIRECTOR	1.00	Director	$0	$0	$0
SHERI HORN-BUNK	DIRECTOR	1.00	Director	$0	$0	$0
JOE HUGHES	DIRECTOR	1.00	Director	$0	$0	$0
JEFF JONES	DIRECTOR	1.00	Director	$0	$0	$0
MAYBELLE LIQUIGAN	DIRECTOR	1.00	Director	$0	$0	$0
MARK NOVAK	DIRECTOR	1.00	Director	$0	$0	$0
JASON MARSHALL	DIRECTOR	1.00	Director	$0	$0	$0
CATHY PROUT	DIRECTOR	1.00	Director	$0	$0	$0
DEREK SPRAGUE	DIRECTOR	1.00	Director	$0	$0	$0
TIM SULLIVAN	DIRECTOR	1.00	Director	$0	$0	$0
NICK AMBROSINI	DIRECTOR	1.00	Director	$0	$0	$0
KAREN MACEDONIO	DIRECTOR	1.00	Director	$0	$0	$0
CHEVELLE KRINITT	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT THAYER	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN WIGGINS	DIRECTOR	1.00	Director	$0	$0	$0
SUZANNE NOBLE	DIRECTOR	1.00	Director	$0	$0	$0
MARY BETH GARRISON	DIRECTOR	1.00	Director	$0	$0	$0
JOHN GUINN	DIRECTOR	1.00	Director	$0	$0	$0
JASON WELLS	DIRECTOR	1.00	Director	$0	$0	$0
BECKIE DILTZ	DIRECTOR	1.00	Director	$0	$0	$0
KEN KELLER	DIRECTOR	1.00	Director	$0	$0	$0
JEY LACEY	DIRECTOR	1.00	Director	$0	$0	$0
MEGAN LOPEZ	DIRECTOR	1.00	Director	$0	$0	$0
TOM SABA	DIRECTOR	1.00	Director	$0	$0	$0
ANDRAE GONZALES	DIRECTOR	1.00	Director	$0	$0	$0
MARY BARLOW	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINA SCRIVNER	CHAIR KERN ECONOMIC DEV FNDTN	1.00	Director	$0	$0	$0
RICHARD CHAPMAN	PRESIDENT	40.00	Officer	$177,965	$0	$177,965
DANA BRENNAN	CHAIR	1.00	Officer	$0	$0	$0
JOE ASHLEY	IMMEDIATE PAST CHAIR	1.00	Officer	$0	$0	$0
DAVID COUCH	SUPERVISOR	1.00	Officer	$0	$0	$0
ANDY STANLEY	TREASURER	1.00	Officer	$0	$0	$0
DENISE NEWTON	SECRETARY	1.00	Officer	$0	$0	$0
ZACK SCRIVNER	SUPERVISOR	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$930,261	$856,536	$1,140,986	$73,725
2022	$971,949	$792,500	$1,184,437	$179,449
2021	$963,253	$688,953	$889,493	$274,300
2020	$748,063	$856,159	$575,877	$-108,096
2019	$822,701	$857,530	$625,349	$-34,829
2018	$771,369	$809,217	$700,767	$-37,848

KERN ECONOMIC DEVELOPMENT CORPORATION