Lake Economic Development Corporation (EIN 881275204) - 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

2022

Legal Domicile

Principal Officer

Abel Biri

Phone

3527644123

Tax Period

2023-10-01 to 2024-09-30

Lake Economic Development Corporation, founded in 2022, is a small nonprofit in the Community Improvement sector that reported $715K in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $635K left a modest 11% surplus.

Mission

The Lake Economic Area Development (LEAD) Partnership is a public/ private organization created and designed to lead efforts in further growing, diversifying and uniting the Lake County, FL regional economy.

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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 $715,275

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $715,275

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $634,727

Other Expenses $634,727

TOTAL EXPENSES $634,727

Year-over-Year Comparison

	2023	2022	Change
Revenue	$715,275	$641,697	+0.1%
Expenses	$634,727	$588,375	+0.1%
Net Income	$80,548	$53,322	+0.5%

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

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Abel Biri	Chairman	0.50	Officer Director	$0	$0	$0
Brad Weber	Vice-Chairman	0.50	Officer Director	$0	$0	$0
Don Robuck	Secretary	0.50	Officer Director	$0	$0	$0
Christian Miller	Treasurer	0.50	Officer Director	$0	$0	$0
Ben Pauluhn	Immediate Past Chair	0.50	Director	$0	$0	$0
Al Minner	Director	0.50	Director	$0	$0	$0
Stacy Sewell	Director	0.50	Director	$0	$0	$0
Jeff Cagan	Director	0.50	Director	$0	$0	$0
Marc Hoenstine	Director	0.50	Director	$0	$0	$0
Joe Ciceri	Director	0.50	Director	$0	$0	$0
Pam Rivas	Director	0.50	Director	$0	$0	$0
Lance Sewell	Director	0.50	Director	$0	$0	$0
Kathy Judkins	Director	0.50	Director	$0	$0	$0
Phil Braun	Director	0.50	Director	$0	$0	$0
Davis Talmage	Director	0.50	Director	$0	$0	$0
Mike Duffield	Director	0.50	Director	$0	$0	$0
Dan Tatro	Director	0.50	Director	$0	$0	$0
Duanne Booth	Director	0.50	Director	$0	$0	$0
Chris Creech	Director	0.50	Director	$0	$0	$0
Will Parsons	Director	0.50	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	$715,275	$634,727	$450,200	$80,548
2023	$641,697	$588,375	$314,086	$53,322

Lake Economic Development Corporation