One Economy Financial 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

2019

Legal Domicile

Phone

5155006080

Tax Period

2023-10-01 to 2024-09-30

One Economy Financial Development Corp, founded in 2019, is a small nonprofit in the Community Improvement sector that reported $251K in total revenue in fiscal year 2023. Revenue surged 30% from the prior year, signaling strong growth momentum.

Mission

CREATE A PATHWAY TO FINANCIAL STABILITY AND WEALTH AMONG LOW TO MODERATE INCOME INDIVIDUALS AND SMALL BUSINESSES WITH AN EMPHASIS ON THE BLACK COMMUNITY IN CENTRAL IOWA.

Program Service Accomplishments

Program 1

Expenses: $211,544 Revenue: $3,077

THE SOLIDARITY LOAN PROGRAM MAKES LOANS TO THOSE UNSERVED OR UNDERSERVED BY THE TRADITIONAL BANKING SYSTEM. DURING FISCAL YEAR SEPTEMBER 30, 2024, THE ORGANIZATION MADE 11 LOANS TOTALING $67,318 TO 7 DIFFERENT CLIENTS. IN ADDITION, THE SMALL BUSINESS LOAN PROGRAM MAKES LOANS TO ENTREPENEURS UNSERVED OR UNDERSERVED BY THE TRADITIONAL BANKING SYSTEM. DURING FISCAL YEAR SEPTEMBER 30, 2024, THE ORGANIZATION MADE 3 LOANS TOTALING $13,500 TO 3 DIFFERENT CLIENTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $229,994

Program Service Revenue $3,077

Investment Income $17,942

Other Revenue $0

TOTAL REVENUE $251,013

Expense Breakdown

Grants Paid $2,620

Salaries & Benefits $159,131

Fundraising Expenses $73

Program Expenses $211,544

Other Expenses $109,562

TOTAL EXPENSES $271,313

Year-over-Year Comparison

	2023	2022	Change
Revenue	$251,013	$193,219	+0.3%
Expenses	$271,313	$279,516	0.0%
Net Income	$-20,300	$-86,297	-0.8%

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

$87,923

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID ATTAWAY	BOARD TREASURER	10.0	Officer Director	$0	$0	$0
LU SPAINE	BOARD VICE CHAIR	8.0	Officer Director	$0	$0	$0
MIKE TRAMONTINA	BOARD SECRETARY	4.0	Officer Director	$0	$0	$0
TED WILLIAMS	BOARD CHAIR	12.0	Officer Director	$0	$0	$0
Alexis Davis	Board Member	1.0	Director	$0	$0	$0
Aliou Keita	Board Member	5.0	Director	$0	$0	$0
AMELIA LOBO	BOARD MEMBER	2.0	Director	$0	$0	$0
COLIN PENNYCOOKE	BOARD MEMBER	2.0	Director	$0	$0	$0
Dr Marvin DeJear	Board Member	10.0	Director	$0	$0	$0
JOE BANTZ	BOARD MEMBER	2.0	Director	$0	$0	$0
Meg Schneider	Board Member	1.0	Director	$0	$0	$0
TESSIE JOHNSON	BOARD MEMBER	1.0	Director	$0	$0	$0
VADA GRANTHAM	BOARD MEMBER	6.0	Director	$0	$0	$0
VINCE C LINTZ	EXECUTIVE DIRECTOR	40.0	Officer	$85,000	$2,923	$87,923

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	$251,013	$271,313	$577,253	$-20,300
2023	$193,219	$279,516	$665,512	$-86,297
2022	$170,216	$182,964	$616,098	$-12,748
2021	$424,312	$93,109	$443,137	$331,203
2021	$405,562	$93,110	$187,031	$312,452

One Economy Financial Development Corp