GREELEYWELD ECONOMIC DEVELOPMENT

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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

1987

Legal Domicile

Principal Officer

RICHARD WERNER

Phone

9703564565

Tax Period

2024-01-01 to 2024-12-31

GREELEYWELD ECONOMIC DEVELOPMENT, founded in 1987, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2024. Expenses of $973K left a modest 8% surplus.

Mission

OUR MISSION FOCUSES ON FACILITATING AND ATTRACTING INVESTMENT, CREATING NEW JOB OPPORTUNITIES, STIMULATING INCOME GROWTH AND EXPANDING THE LOCAL COMMUNITY TAX BASE.

Program Service Accomplishments

Program 1

Expenses: $17,418 Revenue: $9,064

UPSTATE COLORADO ECONOMIC DEVELOPMENT ADMINISTERS THE GREELEY COMMUNITY DEVELOPMENT FUND(GCDF) AND THE WELD/LARIMER REVOLVING LOAN FUND (RLF). THESE FUNDS ARE USED TO STIMULATE ECONOMIC GROWTH...

UPSTATE COLORADO ECONOMIC DEVELOPMENT ADMINISTERS THE GREELEY COMMUNITY DEVELOPMENT FUND(GCDF) AND THE WELD/LARIMER REVOLVING LOAN FUND (RLF). THESE FUNDS ARE USED TO STIMULATE ECONOMIC GROWTH THROUGH NEW BUSINESS AND BUSINESS EXPANSION LOANS.

Program 2

Expenses: $644,512 Revenue: $335,387

UPSTATE COLORADO ECONOMIC DEVELOPMENT ENGAGES IN ECONOMIC STIMULATION THROUGH THE ATTRACTION OF NEW BUSINESS AND EXPANDING BUSINESSES. THIS IS ACCOMPLISHED THROUGH MARKETING AND OTHER INVESTMENTS.

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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 $573,720

Program Service Revenue $344,451

Investment Income $134,667

Other Revenue $0

TOTAL REVENUE $1,052,838

Expense Breakdown

Grants Paid $0

Salaries & Benefits $714,111

Fundraising Expenses $48,673

Program Expenses $661,930

Other Expenses $259,320

TOTAL EXPENSES $973,431

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,052,838	$1,074,424	0.0%
Expenses	$973,431	$852,690	+0.1%
Net Income	$79,407	$221,734	-0.6%

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

$212,632

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD WERNER	PRESIDENT/CE	40.00	Officer	$212,632	$0	$212,632
DEAN BROWN	DIRECTOR	1.00	Director	$0	$0	$0
PERRY BUCK	DIRECTOR	1.00	Director	$0	$0	$0
TIM CROISSANT	DIRECTOR	1.00	Director	$0	$0	$0
DALE HALL	DIRECTOR	1.00	Director	$0	$0	$0
JAKE HALLAUER	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER KIRK	DIRECTOR	1.00	Director	$0	$0	$0
WESLEY LAVANCHY	DIRECTOR	1.00	Director	$0	$0	$0
NICK LARSON	DIRECTOR	1.00	Director	$0	$0	$0
BILL MEIER	CHAIR	1.00	Officer Director	$0	$0	$0
JASON OLTMAN	PAST CHAIR	1.00	Officer Director	$0	$0	$0
CHARLIE PEPIN	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN ROSS	DIRECTOR	1.00	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
2024	$1,052,838	$973,431	$5,957,286	$79,407
2023	$1,074,424	$852,690	$5,918,899	$221,734
2022	$674,390	$733,957	$5,495,975	$-59,567
2021	$2,297,456	$2,148,970	$5,499,914	$148,486
2020	$4,305,575	$4,113,721	$5,529,812	$191,854
2019	$2,569,143	$2,469,181	$5,416,481	$99,962
2018	$2,114,396	$2,067,984	$5,197,673	$46,412