EMERALD SOUTH ECONOMIC DEVELOPMENT COLLOBORATIVE (EIN 831478837) - 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

GHIAN FOREMAN

Phone

7733394956

Tax Period

2025-01-01 to 2025-12-31

EMERALD SOUTH ECONOMIC DEVELOPMENT COLLOBORATIVE, founded in 2018, is a community nonprofit that reported $1.8M in total revenue in fiscal year 2025. Revenue surged 119% from the prior year, signaling strong growth momentum. The organization ran a surplus of $295K, a strong 17% operating margin.

Mission

TO ENSURE THAT ACCESS AND OPPORTUNITIES ARE SHARED TO BENEFIT RESIDENTs AND BUSINESS OWNERS OF CHICAGOS SOUTHSIDE. AIM TO FOSTER GROWTH, ATTRACT NEW INVESTMENT, DEVELOP OUR LOCAL WORKFORCE AND SUPPORT INCLUSIVE HOUSING.

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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 (2025)

Revenue Breakdown

Contributions & Grants $1,766,970

Program Service Revenue $0

Investment Income $14,985

Other Revenue $0

TOTAL REVENUE $1,781,955

Expense Breakdown

Grants Paid $0

Salaries & Benefits $480,541

Fundraising Expenses $0

Program Expenses $1,328,186

Other Expenses $1,006,316

TOTAL EXPENSES $1,486,857

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,781,955	$814,915	+1.2%
Expenses	$1,486,857	$2,610,753	-0.4%
Net Income	$295,098	$-1,795,838	-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

Independent Members

Employees

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

$229,731

Total Directors

$229,731

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GHIAN FORMAN	PRESIDENT CEO	040.00	Officer Director	$229,731	$0	$229,731
JOEL HAMERNICK	EX CO-CHAIR	002.00	Director	$0	$0	$0
MICHAEL STRAUTMANIS	CHAIRMAN	002.00	Officer Director	$0	$0	$0
FATHER RICHARD TOLLIVER	TREASURER AND SECRETARY	002.00	Officer Director	$0	$0	$0
REV TORREY BARRETT	DIRECTOR	001.00	Director	$0	$0	$0
MARC B BROOKS	DIRECTOR	001.00	Director	$0	$0	$0
SHAYNE EVANS	DIRECTOR	001.00	Director	$0	$0	$0
LIZ GARDNER	DIRECTOR	001.00	Director	$0	$0	$0
STEPHANIE GREEN	DIRECTOR	001.00	Director	$0	$0	$0
JACKY GRIMSHAW	DIRECTOR	001.00	Director	$0	$0	$0
CALVIN HOLMES	DIRECTOR	001.00	Director	$0	$0	$0
REV JESSEE KNOX III	DIRECTOR	001.00	Director	$0	$0	$0
PHAEDRA LESLIE	DIRECTOR	001.00	Director	$0	$0	$0
KIMBERLY LEWIS	DIRECTOR	001.00	Director	$0	$0	$0
DONALD MCGRUDER	DIRECTOR	001.00	Director	$0	$0	$0
DAWVEED SCULLY	DIRECTOR	001.00	Director	$0	$0	$0
SUSAN SHER	DIRECTOR	001.00	Director	$0	$0	$0
CORY L THAMES	DIRECTOR	001.00	Director	$0	$0	$0
HUBERT O THOMPSON	DIRECTOR	001.00	Director	$0	$0	$0
CHARISE WILLIAMS	DIRECTOR	001.00	Director	$0	$0	$0
CHARLES YOUNG	DIRECTOR	001.00	Director	$0	$0	$0
N/A	ASST TREASURER AND SECRETARY	040.00	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
2025	$1,781,955	$1,486,857	$1,345,049	$295,098
2024	$814,915	$2,610,753	$1,008,737	$-1,795,838
2023	$3,207,639	$2,631,828	$2,986,656	$575,811
2022	$5,111,552	$3,175,140	$2,699,120	$1,936,412
2021	$2,272,249	$2,277,914	$1,198,764	$-5,665

EMERALD SOUTH ECONOMIC DEVELOPMENT COLLOBORATIVE