BESSEMER REDEVELOPMENT CORP

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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

2020

Legal Domicile

Principal Officer

BRIAN GIATTINA

Phone

2055152500

Tax Period

2023-01-01 to 2023-12-31

BESSEMER REDEVELOPMENT CORP, founded in 2020, is a small nonprofit in the Community Improvement sector that reported $605K in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $302K, a strong 50% operating margin.

Mission

WE BELIEVE THAT BESSSEMER, ALABAMA COMMUNITIES AND NEIGHBORHOODS CAN HAVE A QUALITY OF LIFE THAT MAKES IT DESERVING OF THE NAME MARVEL CITY. BESSEMER REDEVELOPMENT CORPORATION ("THE ORGANIZATION") SEEKS TO DO ITS PART IN MOVING THAT FORWARD THROUGH TARGETED CATALYTIC PROJECTS THAT ARE MULTI-FACETED AND BRING OTHER LIKE-MINDED DEVELOPERS TO THE TABLE.

Program Service Accomplishments

Program 1

Expenses: $258,458

ACQUISITIONS OF VACANT AND BLIGHTED PROPERTIES FOR REDEVELOPMENT.

Program 2

Expenses: $40,323

RENOVATION OF THE BESSEMER TRAIN DEPOT TO ENHANCE THE COMMUNITY.

Program 3

Expenses: $4,377

COMMUNITY WORKFORCE HOUSING ADDED THREE NEW MODULAR HOMES AVAILABLE FOR SALE IN THE 6TH AVENUE BLOCK OF BESSEMER.

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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 $556,940

Program Service Revenue $0

Investment Income $40,598

Other Revenue $7,326

TOTAL REVENUE $604,864

Expense Breakdown

Grants Paid $4,700

Salaries & Benefits $126,739

Fundraising Expenses $0

Program Expenses $303,158

Other Expenses $171,719

TOTAL EXPENSES $303,158

Year-over-Year Comparison

	2023	2022	Change
Revenue	$604,864	$777,066	-0.2%
Expenses	$303,158	$496,941	-0.4%
Net Income	$301,706	$280,125	+0.1%

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

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
BRIAN GIATTINA	PRESIDENT	20.00	Officer Director	$0	$0	$0
MIKE ROGERS	DIRECTOR	1.00	Director	$0	$0	$0
ED WELDEN	DIRECTOR	1.00	Director	$0	$0	$0
DAVE PAIGE	DIRECTOR	1.00	Director	$0	$0	$0
ASHLEY NORRIS	DIRECTOR	1.00	Director	$0	$0	$0
CALVIN BELL	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	No data	No data	No data	No data
2023	$604,864	$303,158	$3,288,982	$301,706
2022	$777,066	$496,941	$1,300,172	$280,125
2021	$396,736	$98,941	$687,534	$297,795