ECONOMIC DEVELOPMENT CORPORATION OF LEA COUNTY (EIN 850164863) - Form 990 Financial Analysis & Trantor Score

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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

1963

Legal Domicile

Principal Officer

JENNIFER GRASSHAM

Phone

5753972039

Tax Period

2023-07-01 to 2024-06-30

ECONOMIC DEVELOPMENT CORPORATION OF LEA COUNTY, founded in 1963, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. The organization ran a surplus of $304K, a strong 20% operating margin.

Mission

PROMOTING AND MARKETING ASSETS OF LEA COUNTY TO ATTRACT CAPITAL INVESTMENT

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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 $324,451

Program Service Revenue $1,139,804

Investment Income $65,308

Other Revenue $24,887

TOTAL REVENUE $1,554,450

Expense Breakdown

Grants Paid $0

Salaries & Benefits $442,918

Fundraising Expenses $0

Program Expenses $802,678

Other Expenses $807,036

TOTAL EXPENSES $1,249,954

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,554,450	$1,766,110	-0.1%
Expenses	$1,249,954	$1,293,663	0.0%
Net Income	$304,496	$472,447	-0.4%

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

$163,475

Total Directors

$163,475

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JENNIFER GRASSHAM	PRESIDENT	40.00	Officer Director	$163,475	$0	$163,475
BILL RICHARDS	CHAIR	1.00	Officer Director	$0	$0	$0
GARY SCHUBERT	CHAIR ELECT	1.00	Officer Director	$0	$0	$0
RUSSELL DOSS	PAST CHAIR	1.00	Officer Director	$0	$0	$0
SAM SPENCER	TREASURER	1.00	Officer Director	$0	$0	$0
JAMES LACKEY	SECRETARY	1.00	Officer Director	$0	$0	$0
BEN DONAHUE	DIRECTOR	1.00	Director	$0	$0	$0
KALI BROWN	DIRECTOR	1.00	Director	$0	$0	$0
DAVID SHAW	DIRECTOR	1.00	Director	$0	$0	$0
DAVID JIMENEZ	DIRECTOR	1.00	Director	$0	$0	$0
TINA TIFFANY	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD MARTIN	DIRECTOR	1.00	Director	$0	$0	$0
JOHN PAUL HENDERSON	DIRECTOR	1.00	Director	$0	$0	$0
REBECCA JAMISON	DIRECTOR	1.00	Director	$0	$0	$0
TRES HICKS	DIRECTOR	1.00	Director	$0	$0	$0
BRADLEY BISHOP	DIRECTOR	1.00	Director	$0	$0	$0
ASHLEY KEGLEY	DIRECTOR	1.00	Director	$0	$0	$0
RACHEL SLADE	DIRECTOR	1.00	Director	$0	$0	$0
LISA HARDISON	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
2025	No data	No data	No data	No data
2024	$1,554,450	$1,249,954	$3,921,749	$304,496
2023	$1,766,110	$1,293,663	$1,840,220	$472,447
2022	$1,340,620	$1,041,283	$2,601,725	$299,337
2021	$1,260,846	$890,949	$1,111,066	$369,897
2020	$1,031,367	$1,128,389	$729,710	$-97,022
2019	$1,115,367	$1,103,186	$788,312	$12,181

ECONOMIC DEVELOPMENT CORPORATION OF LEA COUNTY