ASHLAND AREA ECONOMIC DEVELOPMENT INC (EIN 813500970) - 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

2016

Legal Domicile

Principal Officer

CAMEO CAREY

Phone

4192893200

Tax Period

2024-01-01 to 2024-12-31

ASHLAND AREA ECONOMIC DEVELOPMENT INC, founded in 2016, is a small nonprofit in the Community Improvement sector that reported $109K in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year. The organization ran a surplus of $37K, a strong 34% operating margin.

Mission

TO FACILITATE THE SUCCESS OF THE COMMUNITY'S EXISTING BUSINESSES, ATTRACT VIABLE COMPANIES TO THE COMMUNITY, AND ENHANCE THE OVERALL QUALITY OF LIFE IN THE AREA.

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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 $108,179

Program Service Revenue $0

Investment Income $648

Other Revenue $345

TOTAL REVENUE $109,172

Expense Breakdown

Grants Paid $0

Salaries & Benefits $14,623

Fundraising Expenses $0

Other Expenses $57,854

TOTAL EXPENSES $72,477

Year-over-Year Comparison

	2024	2023	Change
Revenue	$109,172	$125,368	-0.1%
Expenses	$72,477	$108,479	-0.3%
Net Income	$36,695	$16,889	+1.2%

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

N/A

Independent Members

N/A

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
JORDAN LANCE	SECRETARY	2.0	Officer Director	$0	$0	$0
MATT MILLER	PRESIDENT	2.0	Officer Director	$0	$0	$0
KEITH BOALES	BOARD MEMBER	2.0	Director	$0	$0	$0
MIKE WELCH	VICE PRESIDENT	2.0	Officer Director	$0	$0	$0
B J HARVEY	TREASURER	2.0	Officer Director	$0	$0	$0
BEN USELTON	BOARD MEMBER	2.0	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
2024	$109,172	$72,477	$204,755	$36,695
2023	$125,368	$108,479	$171,031	$16,889
2022	$116,051	$99,917	$152,598	$16,134
2021	$137,623	$81,324	$136,424	$56,299
2020	$146,467	$85,346	$81,467	$61,121
2019	$180,982	$179,641	$19,135	$1,341
2018	$198,260	$212,879	$22,493	$-14,619

ASHLAND AREA ECONOMIC DEVELOPMENT INC