TRAVERSE CITY CENTER OF ENTREPRENEURSHIP (EIN 824116553) - 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

2018

Legal Domicile

Principal Officer

CRAIG WESLEY

Phone

2319386519

Tax Period

2024-01-01 to 2024-12-31

TRAVERSE CITY CENTER OF ENTREPRENEURSHIP, founded in 2018, is a community nonprofit that reported $2.2M in total revenue in fiscal year 2024. Revenue surged 91% from the prior year, signaling strong growth momentum. Expenses of $1.9M left a modest 13% surplus.

Mission

Our mission is to accelerate the growth of tech startups, entrepreneurs, and scalable businesses in NW Lower Michigan.

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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 $1,539,925

Program Service Revenue $591,823

Investment Income $54,491

Other Revenue $0

TOTAL REVENUE $2,186,239

Expense Breakdown

Grants Paid $205,063

Salaries & Benefits $1,156,161

Fundraising Expenses $0

Program Expenses $1,703,436

Other Expenses $538,519

TOTAL EXPENSES $1,899,743

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,186,239	$1,141,785	+0.9%
Expenses	$1,899,743	$1,150,295	+0.7%
Net Income	$286,496	$-8,510	-34.7%

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

$215,664

Total Directors

$80,803

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHILOH SLOMSKY	CFO AND TRIBAL LIAISON	40.0	Officer	$100,000	$6,218	$106,218
ERIC ROBERTS	ED(THRU9/24) BD MEM(EFF 10/24)	40.0	Officer Director	$73,120	$7,683	$80,803
CRAIG WESLEY	EXEC. DIRECTOR (EFF. 10/2024)	40.0	Officer	$26,153	$2,490	$28,643
LOWELL GRUMEN	CHAIR	1.0	Officer Director	$0	$0	$0
JANIE MCNABB	VICE CHAIR	1.0	Officer Director	$0	$0	$0
GREG LUYT	SECRETARY	1.0	Officer Director	$0	$0	$0
REBECCA TEAHEN	TREASURER	1.0	Officer Director	$0	$0	$0
ASHLEY SLOAT	BOARD MEMBER	1.0	Officer 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	$2,186,239	$1,899,743	$2,353,206	$286,496
2023	$1,141,785	$1,150,295	$442,756	$-8,510
2022	$1,044,952	$1,028,416	$418,238	$16,536
2021	$975,371	$792,710	$293,792	$182,661
2020	$368,085	$841,274	$106,401	$-473,189
2019	$570,843	$537,580	$429,251	$33,263
2018	$629,947	$250,565	$389,592	$379,382

TRAVERSE CITY CENTER OF ENTREPRENEURSHIP