COVINGTON, KY
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)TRI-COUNTY ECONOMIC DEVELOPMENT CHARITABLE CORPORATION, founded in 2018, is a small nonprofit in the Community Improvement sector that reported $168K in total revenue in fiscal year 2024. Revenue fell 34% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 571% operating deficit.
THE MISISON OF THE TRI-COUNTY ECONOMIC DEVELOPMENT CHARITABLE CORPORATION IS TO PROVIDE PRIVATE-SECTOR LEADERSHIP AND RESOURCES TO THE TRI-COUNTY ECONOMIC DEVELOPMENT CORPORATION (TRI-ED) IN MARKETING AND PROMOTING THE THREE NORTHERN KENTUCKY COUNTIES ON A NATIONAL AND INTERNATIONAL BASIS, AS A LOCATION FOR NEW OR EXPANDING (1) MANUFACTURING PROJECTS (2) OFFICE PROJECTS, (3) WAREHOUSE/DISTRIBUTION PROJECTS, AND (4) LARGE COMMERCIAL AND SERVICE PROJECTS.
SUPPORT SERVICES RENDERED TO THE TRI-COUNTY ECONOMIC DEVELOPMENT CORPORTATION, WHICH PROVIDE BOONE, CAMPBELL, AND KENTON COUNTIES AND THE MUNICIPALITIES AND BUSINESS INTERESTS THEREIN WITH...
SUPPORT SERVICES RENDERED TO THE TRI-COUNTY ECONOMIC DEVELOPMENT CORPORTATION, WHICH PROVIDE BOONE, CAMPBELL, AND KENTON COUNTIES AND THE MUNICIPALITIES AND BUSINESS INTERESTS THEREIN WITH PROFESSIONAL ECONOMIC DEVELOPMENT SERVICES COMPRISED OF: ADDRESSING THE CURRENT AND FUTURE WORKFORCE NEEDS OF NORTHERN KENTUCKY, INDETIFY AND PREPARE SITES FOR SUBSEQUENT PRIVATE COMMERCIAL AND INDUSTRIAL DEVELOPMENT THAT EXCEEDS COMMUNITY EMPLOYMENT AND WAGE TARGETS, AND PROVIDE DATA, INSIGHTS, AND A FORUM TO COMMUNITY LEADERS THAT CONTRIBUTE TO PROSPERITY, GROWTH AND EQUITY IN THE REGION.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $168,061 | $254,784 | -0.3% |
| Expenses | $1,127,562 | $814,363 | +0.4% |
| Net Income | $-959,501 | $-559,579 | +0.7% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| CAREY SANDERS | VICE CHAIR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| BEN BRANDSTETTER | CHAIR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| KRIS KNOCHELMANN | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| GARY MOORE | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| STEVE PENDERY | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| NORMAND DESMARAIS | SECRETARY | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| ADRIAN HOTHEM | TREASURER | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| JIM DRESSMAN | FORMER CHAIR | 1.00 |
Director
|
$0 | $0 | $0 |
| LEE CRUME | PRESIDENT & CEO | 11.00 |
Officer
|
$0 | $15,227 | $395,767 |
| CHRISTINE RUSSELL | VP OF STRATEGY | 34.00 |
Key Emp
|
$0 | $6,560 | $188,571 |
| KIMBERLY ROSSETTI | VP OF ECONOMIC DEVELOPMENT | 6.00 |
Key Emp
|
$0 | $8,100 | $158,965 |
| CHERLY BESL | VP OF MARKETING & COMMUNICATIONS | 12.00 |
Highest
|
$0 | $7,514 | $129,359 |
| DAVID MCALEESE | RESEARCH DIRECTOR | 16.00 |
Highest
|
$0 | $4,280 | $112,919 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | $168,061 | $1,127,562 | $1,667,929 | $-959,501 |
| 2024 | $254,784 | $814,363 | $2,414,363 | $-559,579 |
| 2023 | $1,176,302 | $564,965 | $2,926,916 | $611,337 |
| 2022 | $2,155,761 | $15 | $2,175,472 | $2,155,746 |
Compare TRI-COUNTY ECONOMIC DEVELOPMENT CHARITABLE CORPORATION with other nonprofits in Kentucky and across the country.