Building a Better Economy

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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

Principal Officer

Russel Richter

Phone

5173749100

Tax Period

2024-01-01 to 2024-12-31

Building a Better Economy, founded in 2019, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2024. Revenue surged 370% from the prior year, signaling strong growth momentum.

Mission

To operate exclusively for the promotion of civic action and social welfare by promoting the common good and general welfare of the residents of, and visitors to the State of Michigan; to support public policies on the federal, state, and local levels, that will bring about civic betterments and social improvements to Michigan residents; to support activities and programs that improve the quality and effectiveness of government for the State of Michigan; to promote, encourage and advocate citizen participation in political events, civic events and activities, and governmental events and associated activities; to promote charitable causes, including lessening the burdens of government in the State of Michigan; and to receive and administer funds to sponsor, conduct research, secure goods and services, or to hold events in conjunction with the promotion of these purposes.

Program Service Accomplishments

Program 1

Expenses: $660,523

ISSUE ADVOCACY RELATED TO MATTERS OF PUBLIC POLICY, MATTERS SIGNIFICANT TO THE STATE OF MICHIGAN, PUBLIC OFFICIALS, AND THOSE PROPOSING TO BE PUBLIC OFFICIALS

Program 2

Expenses: $442,951

POLLING AND PUBLIC POLICY RESEARCH AND ACTIVITIES

Program 3

Expenses: $282,000

Supported other social welfare and not-for-profit organizations through cash contributions

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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 $1,509,275

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,509,275

Expense Breakdown

Grants Paid $282,000

Salaries & Benefits $0

Fundraising Expenses $39,103

Program Expenses $1,450,539

Other Expenses $1,332,736

TOTAL EXPENSES $1,653,839

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,509,275	$321,059	+3.7%
Expenses	$1,653,839	$158,994	+9.4%
Net Income	$-144,564	$162,065	-1.9%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RUSSEL RICHTER	President	1.00	Officer Director	$0	$0	$0
PAUL CORDES	Vice President	1.00	Officer Director	$0	$0	$0
Jason Gillikin	Secretary/Treas	1.00	Officer Director	$0	$0	$0
Renae Moore	Asst Secretary	1.00	Officer	$0	$0	$0
ALLISON CHOREY	Asst Treasurer	1.00	Officer	$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	No data	No data	No data	No data
2024	$1,509,275	$1,653,839	$79,315	$-144,564
2023	$321,059	$158,994	$223,849	$162,065
2022	$1,481,374	$1,639,244	$61,784	$-157,870
2022	$1,481,374	$1,639,244	$61,784	$-157,870
2021	$221,889	$25,458	$219,654	$196,431