Huerfano County Economic Developme… - 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

2014

Legal Domicile

Principal Officer

Carlton Croft

Phone

7197383000

Tax Period

2024-01-01 to 2024-12-31

Huerfano County Economic Development Inc, founded in 2014, is a small nonprofit in the Community Improvement sector that reported $570K in total revenue in fiscal year 2024. Revenue surged 109% from the prior year, signaling strong growth momentum. Expenses of $526K left a modest 8% surplus.

Mission

Promotion of economic development, support local business, provide housing and business support, collaboration of government programs

Program Service Accomplishments

Program 1

Expenses: $75,284

Development of Cubbies and Caboose cubicles, Land development

Program 2

Expenses: $8,950

Development of Chamber

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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 $570,125

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $570,125

Expense Breakdown

Grants Paid $8,950

Salaries & Benefits $284,510

Fundraising Expenses $0

Program Expenses $84,234

Other Expenses $232,758

TOTAL EXPENSES $526,218

Year-over-Year Comparison

	2024	2023	Change
Revenue	$570,125	$272,842	+1.1%
Expenses	$526,218	$284,760	+0.8%
Net Income	$43,907	$-11,918	-4.7%

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

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

$58,804

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Carlton Croft	Executive Director	040.00	Director	$58,804	$0	$58,804
Kay Whitley	Secretary	000.25	Officer Director	$0	$0	$0
Lola Spradley	President	010.00	Officer Director	$0	$0	$0
Jim Littlefield	Vice- President	000.25	Officer Director	$0	$0	$0
Kerrie Myler	Treasurer	000.25	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	No data	No data	No data	No data
2024	$570,125	$526,218	$149,615	$43,907
2023	$272,842	$284,760	$109,644	$-11,918
2022	$1,389,801	$1,364,742	$119,755	$25,059
2021	$104,532	$104,038	$89,018	$494
2020	$219,571	$185,747	$85,594	$33,824

Huerfano County Economic Development Inc