GREATER COLUMBUS ECONOMIC DEVELOPM… - Form 990 Financial Data

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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

2016

Legal Domicile

Principal Officer

JASON HESTER

Phone

8123787300

Tax Period

2023-01-01 to 2023-12-31

GREATER COLUMBUS ECONOMIC DEVELOPMENT CO, founded in 2016, is a small nonprofit in the Community Improvement sector that reported $498K in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year.

Mission

TO BUILD A WORLD-CLASS COMMUNITY BY ENHANCING THE QUALITY OF LIFE, ECONOMIC OPPORTUNITY AND PERSONAL WELL-BEING OF OUR CITIZENS.

Program Service Accomplishments

Program 1

Expenses: $294,425 Revenue: $125,256

ADMINISTRATIVE AND MARKETING SERVICES FOR THE RECRUITMENT OF NEW BUSINESSES: EDC WORKS AND ACTS AS THE COORDINATOR OF NEW BUSINESS RECRUITMENT ACTIVITIES FOR THE COMMUNITIES OF BARTHOLOMEW COUNTY...

ADMINISTRATIVE AND MARKETING SERVICES FOR THE RECRUITMENT OF NEW BUSINESSES: EDC WORKS AND ACTS AS THE COORDINATOR OF NEW BUSINESS RECRUITMENT ACTIVITIES FOR THE COMMUNITIES OF BARTHOLOMEW COUNTY, INDIANA. THESE ACTIVITIES INCLUDE ACTIVELY MARKETING AND SEEKING NEW BUSINESSES TO LOCATE IN COLUMBUS, EDINBURGH, AND THE OTHER COMMUNITIES OF BARTHOLOMEW COUNTY, AND PROVIDING SITE LOCATION AND ECONOMIC DEVELOPMENT SERVICES AND ACTIVITIES TO THOSE POTENTIAL NEW BUSINESSES.

Program 2

Expenses: $43,972 Revenue: $18,707

ADMINISTRATIVE AND MARKETING SERVICES FOR THE RETENTION AND EXPANSION OF EXISTING PRIMARY BUSINESSES: EDC WORKS AND ACTS AS THE COORDINATOR OF EXISTING BUSINESS RETENTION AND EXPANSION ACTIVITIES FOR THE COMMUNITIES OF BARTHOLOMEW COUNTY, INDIANA. THESE ACTIVITIES INCLUDE ACTIVELY MEETING ONEONONE WITH EXISTING PRIMARY BUSINESSES AND ENCOURAGING BUSINESS RETENTION BY IDENTIFYING AND ADDRESSING ANY IMPEDIMENTS TO INDIVIDUAL BUSINESS OPERATIONS OR BUSINESS NEEDS. SERVICES ALSO INCLDUE ALL NECESSARY ACTIVITIES RELATED TO BUSINESS EXPANSION INCLUDING, BUT NOT LIMITED TO, IDENTIFYING, ASSEMBLING, AND SUBMITTING APPLICABLE EXPANSION SPACE, SECURING STATE AND LOCAL INCENTIVE PACKAGES, AND OVERSEEING THE ENTIRE PROCESS.

Program 3

Expenses: $43,972 Revenue: $18,707

INFRASTRUCTURE DEVELOPMENT: EDC WORKS IN A SUPPORTING ROLE TO LOCAL GOVERNMENT TO IDENTIFY NEEDED IMPROVEMENTS, EXPANSIONS, OR NEW INVESTMENTS WITH RESPECT TO ROAD ACCESS, WATER AND SEWER PROJECTS...

INFRASTRUCTURE DEVELOPMENT: EDC WORKS IN A SUPPORTING ROLE TO LOCAL GOVERNMENT TO IDENTIFY NEEDED IMPROVEMENTS, EXPANSIONS, OR NEW INVESTMENTS WITH RESPECT TO ROAD ACCESS, WATER AND SEWER PROJECTS, AND OTHER PROJECTS DEEMED NECESSARY TO SUPPORT EXISTING AND NEW PROSPECTIVE BUSINESSES IN THE COMMUNITY. THIS INCLUDES, BUT IS NOT LIMITED TO, IDENTIFYING RELEVANT PROPERTY FOR ECONOMIC DEVELOPMENT PURPOSES INCLUDING BUSINESS RETENTION, EXPANSION, AND ATTRACTION PROJECTS, AND ADVISING RELEVANT PUBLIC AND PRIVATESECTOR STAKEHOLDERS ON NECESSARY DEVELOPMENT ISSUES.

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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 $325,090

Program Service Revenue $146,570

Investment Income $10,235

Other Revenue $16,100

TOTAL REVENUE $497,995

Expense Breakdown

Grants Paid $0

Salaries & Benefits $320,948

Fundraising Expenses $0

Program Expenses $382,369

Other Expenses $169,302

TOTAL EXPENSES $490,250

Year-over-Year Comparison

	2023	2022	Change
Revenue	$497,995	$526,632	-0.1%
Expenses	$490,250	$552,682	-0.1%
Net Income	$7,745	$-26,050	-1.3%

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

$148,938

Total Directors