INDIAN WELLS ECONOMIC DEVELOPMENT … - 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

2017

Legal Domicile

Principal Officer

Scott O'Neil

Phone

7603858811

Tax Period

2021-01-01 to 2021-12-31

INDIAN WELLS ECONOMIC DEVELOPMENT CORPORATION, founded in 2017, is a small nonprofit in the Community Improvement sector that reported $136K in total revenue in fiscal year 2021. Revenue surged 261% from the prior year, signaling strong growth momentum. The organization ran a surplus of $68K, a strong 50% operating margin.

Mission

To enhance the economy and quality of life in the Indian Wells Valley.

Program Service Accomplishments

Program 1

Expenses: $12,516 Revenue: $0

The Parade of 1000 Flags is a commemoration of September 11, 2001. The IWV Economic Development Corporation is partnering with The News Review in 2021 to ensure the continuation of this...

The Parade of 1000 Flags is a commemoration of September 11, 2001. The IWV Economic Development Corporation is partnering with The News Review in 2021 to ensure the continuation of this community-centric event started by the Ridgecrest Exchange Club in 2008. On Saturday, September 11, 2021, the 20th anniversary of the attacks, 1,000 flag bearers parade down China Lake Blvd to Freedom Park where the flags will be posted. A short program follows.

Program 2

Expenses: $45,434 Revenue: $0

To enhance quality of life, it is crucial that other local nonprofits can fulfill their missions. Proceeds from the sale of 911 Perdew were to be split with the Nexus Foundation to benefit...

To enhance quality of life, it is crucial that other local nonprofits can fulfill their missions. Proceeds from the sale of 911 Perdew were to be split with the Nexus Foundation to benefit RidgeProject and the Women's Center High Desert.

Program 3

Expenses: $7,125 Revenue: $0

This program focuses on the needs of the areas largest employers to recruit and retain quality labor thus effecting the need for a higher quality of life and developing the local economy. This...

This program focuses on the needs of the areas largest employers to recruit and retain quality labor thus effecting the need for a higher quality of life and developing the local economy. This includes identifying resources to gather data and identify opportunities to support the economic development of the area and meet the communities needs. Additionally, a study update was contracted with Counsilman-Hunsaker, an aquatic design expert, to support a grant application to build a community pool. The public pool shut down in 2016 and the community has been without an aquatic facility since then.

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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 (2021)

Revenue Breakdown

Contributions & Grants $34,800

Program Service Revenue $0

Investment Income $100,714

Other Revenue $0

TOTAL REVENUE $135,514

Expense Breakdown

Grants Paid $50,368

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $65,075

Other Expenses $17,611

TOTAL EXPENSES $67,979

Year-over-Year Comparison

	2021	2020	Change
Revenue	$135,514	$37,523	+2.6%
Expenses	$67,979	$31,000	+1.2%
Net Income	$67,535	$6,523	+9.4%

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

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
CHRISTOPHER ELLIS	CHAIR/PRESIDENT	3	Officer Director	$0	$0	$0
DANIEL SPURGEON	VICE CHAIR	1	Director	$0	$0	$0
JAMES SUVER	TREASURER/CFO	0.2	Officer Director	$0	$0	$0
DONNA HOCKER	SECRETARY	3	Officer Director	$0	$0	$0
SCOTT ONEIL	EXECUTIVE DIRECTOR	20	Officer Director	$0	$0	$0
JOHN WATKINS	DIRECTOR	0.2	Director	$0	$0	$0
STUART WITT	DIRECTOR	0.2	Director	$0	$0	$0
DAVE OSTASH	DIRECTOR	0.2	Officer Director	$0	$0	$0
ANDY CORZINE	DIRECTOR	0.2	Officer Director	$0	$0	$0
DON ZDEBA	DIRECTOR	0.2	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
2021	$135,514	$67,979	$143,199	$67,535
2020	$37,523	$31,000	$325,664	$6,523
2019	$347,895	$69,011	$315,867	$278,884

INDIAN WELLS ECONOMIC DEVELOPMENT CORPORATION