GARNER ECONOMIC DEVELOPMENT CORPORATION (EIN 800667463) - 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

2010

Legal Domicile

Principal Officer

JEFF SWAIN

Phone

9197734431

Tax Period

2024-07-01 to 2025-06-30

GARNER ECONOMIC DEVELOPMENT CORPORATION, founded in 2010, is a small nonprofit in the Community Improvement sector that reported $193K in total revenue in fiscal year 2024. The organization ran a surplus of $152K, a strong 79% operating margin.

Mission

THE GEDC (GARNER ECONOMIC DEVELOPMENT CORPORATION) IS AN ECONOMIC DEVELOPMENT NON-PROFIT ORGANIZATION THAT IS DEDICATED TO IMPROVING THE QUALITY OF LIFE OF ALL GARNER RESIDENTS THROUGH BUSINESS RECRUITMENT, SUPPORTING ENTREPRENEURSHIP AND THE RETENTION OF EXISTING EMPLOYERS. THE GEDC IS LED BY A SIX-MEMBER BOARD OF DIRECTORS. THE BOARD ADVISES THE TOWN COUNCIL AND WORKS WITH LOCAL LEADERS TO PROMOTE AND FURTHER THE TOWN OF GARNER'S ECONOMIC DEVELOPMENT INTERESTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $45,000

Program Service Revenue $0

Investment Income $133,184

Other Revenue $14,601

TOTAL REVENUE $192,785

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $17,335

Other Expenses $40,495

TOTAL EXPENSES $40,495

Year-over-Year Comparison

	2024	2023	Change
Revenue	$192,785	$197,070	0.0%
Expenses	$40,495	$33,710	+0.2%
Net Income	$152,290	$163,360	-0.1%

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
JEFF SWAIN	CHAIRMAN	1.00	Director	$0	$0	$0
ELMO VANCE	BOARD MEMBER	1.00	Director	$0	$0	$0
BUCK KENNEDY	BOARD MEMBER	1.00	Director	$0	$0	$0
MEGAN PUMAREJO	TREASURER	1.00	Director	$0	$0	$0
BILL MOYER	SECRETARY	1.00	Director	$0	$0	$0
KEVIN PAYNE	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
2025	$192,785	$40,495	$3,866,385	$152,290
2024	$197,070	$33,710	$3,632,631	$163,360

GARNER ECONOMIC DEVELOPMENT CORPORATION