LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE (EIN 900183669) - 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

2004

Legal Domicile

Principal Officer

JOHN OSBORNE

Phone

8067494500

Tax Period

2023-10-01 to 2024-09-30

LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE, founded in 2004, is a mid-sized nonprofit in the Community Improvement sector that reported $16.8M in total revenue in fiscal year 2023. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.1M, a strong 25% operating margin.

Mission

TO PROMOTE ECONOMIC GROWTH BY CREATING HIGH QUALITY JOBS, INVESTING IN NEW CAPITAL IMPROVEMENTS, RETAINING AND EXPANDING EXISTING BUSINESSES AND ENHANCING LUBBOCK'S QUALITY OF LIFE.

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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 $15,390,998

Program Service Revenue $0

Investment Income $1,371,276

Other Revenue $82,877

TOTAL REVENUE $16,845,151

Expense Breakdown

Grants Paid $7,475,670

Salaries & Benefits $1,638,336

Fundraising Expenses $0

Program Expenses $12,097,591

Other Expenses $3,586,819

TOTAL EXPENSES $12,700,825

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,845,151	$12,728,693	+0.3%
Expenses	$12,700,825	$6,099,792	+1.1%
Net Income	$4,144,326	$6,628,901	-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

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

$789,135

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN OPPERMAN	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS CARPENTER	DIRECTOR	1.00	Director	$0	$0	$0
HENRY PATEL	DIRECTOR	1.00	Director	$0	$0	$0
SONNY GARZA	DIRECTOR	1.00	Director	$0	$0	$0
WALTER CATHEY	DIRECTOR	1.00	Director	$0	$0	$0
BLAKE WOMBLE	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA COLLIER	DIRECTOR	1.00	Director	$0	$0	$0
BRETT CATE	DIRECTOR	2.00	Director	$0	$0	$0
LORI RICE-SPEARMAN	DIRECTOR	1.00	Director	$0	$0	$0
JOHN OSBORNE	CEO	20.00	Officer	$372,272	$33,553	$405,825
JANA JOHNSTON	CFO/COO	20.00	Officer	$208,423	$20,008	$228,431
CHRISTINE ALLEN	VICE PRESIDENT	20.00	Officer	$128,852	$26,027	$154,879
JAMES CONWRIGHT	CHAIRMAN	2.00	Officer	$0	$0	$0
SARAH BEVERS	VICE CHAIRMAN	1.00	Officer	$0	$0	$0
CAROLYN ROWLEY	DIRECTOR OF BUSINESS RETEN	20.00	Highest	$126,310	$17,703	$144,013
DAVID RUSHING	DIRECTOR OF RECRUITMENT	20.00	Highest	$148,420	$7,034	$155,454
KATHERINE WHITE	DIRECTOR OF MARKETING & CO	20.00	Highest	$126,737	$6,975	$133,712
JORGE QUIRINO	DIRECTOR OF DOWNTOWN & SPE	20.00	Highest	$127,581	$15,337	$142,918

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	$16,845,151	$12,700,825	$56,265,447	$4,144,326
2023	$12,728,693	$6,099,792	$61,566,582	$6,628,901
2022	$10,240,082	$46,636,205	$26,107,253	$-36,396,123
2021	$13,680,218	$4,844,684	$29,508,777	$8,835,534
2020	$7,562,648	$7,377,566	$25,650,903	$185,082
2019	$7,350,664	$16,622,196	$29,565,850	$-9,271,532
2018	$6,524,810	$7,259,784	$26,418,342	$-734,974

LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE