OCEANA COUNTY ECONOMIC ALLIANCE

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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

2018

Legal Domicile

Principal Officer

Phil Morse

Phone

2318733369

Tax Period

2023-01-01 to 2023-12-31

OCEANA COUNTY ECONOMIC ALLIANCE, founded in 2018, is a micro nonprofit in the Community Improvement sector that reported $97K in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $88K left a modest 9% surplus.

Mission

To stimulate economic development in Oceana County, Michigan, through programs designed to expand existing industries and employment opportunities and encourage new industries and employers to locate and do business in Oceana County; and to solicit, receive, and administer funds exclusively for such charitable purposes.

Program Service Accomplishments

Program 1

Expenses: $35,000 Revenue: $0

In 2021, the Alliance facilitated 268 business assists in Oceana County throughout the year. Each assist represents an interaction creating tangible, actionable value for businesses and organizations receiving support. Emphasizing the need for economic development resources, especially in times of difficulty. $105,996 was obtained in grant services through collaboration with local businesses and the OCEA.

Program 2

Expenses: $25,000 Revenue: $0

OCEA helped host monthly HR Network luncheon events in Oceana County bring together more than 100 HR professionals with average attendance of 11 per event. OCEA also hosted Developer Day in October, a full day event programmed to promote private investment and development in Oceana County.

Program 3

Expenses: $5,000 Revenue: $0

More than 100 high school seniors were impacted by programming related to Discover Manufacturing and Tech Week utilizing partnerships with local manufacturers to arrange tours and programming related to career opportunities for high school graduates and working to increase partnerships between employers and local school districts.

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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 $97,259

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $97,259

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $65,000

Other Expenses $88,348

TOTAL EXPENSES $88,348

Year-over-Year Comparison

	2023	2022	Change
Revenue	$97,259	$88,500	+0.1%
Expenses	$88,348	$81,055	+0.1%
Net Income	$8,911	$7,445	+0.2%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Larry Byl	Trustee	5	Director	$0	$0	$0
Jami Cutter	Trustee	5	Director	$0	$0	$0
Scott Rumsey	Treasurer	10	Officer Director	$0	$0	$0
Scott Beal	Secretary	10	Officer Director	$0	$0	$0
Tammy Carey	Past President	10	Officer Director	$0	$0	$0
Alex Hardy	Trustee	5	Director	$0	$0	$0
Mishelle Comstock	Trustee	5	Director	$0	$0	$0
Rob Splane	Trustee	5	Director	$0	$0	$0
Joseph Conkle	Trustee	5	Director	$0	$0	$0
Phil Morse	Trustee	5	Director	$0	$0	$0
Brady Selner	President	10	Officer Director	$0	$0	$0
Eric Gustad	Vice President	10	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
2023	$97,259	$88,348	$37,127	$8,911