KDS Inc CO Norton Sound Economic Development (EIN 920143907) - 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

2013

Legal Domicile

Principal Officer

Janis Ivanoff

Phone

9072742248

Tax Period

2024-01-01 to 2024-12-31

KDS Inc CO Norton Sound Economic Development, founded in 2013, is a community nonprofit in the Community Improvement sector that reported $3.5M in total revenue in fiscal year 2024. Revenue fell 44% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $3.4M, a strong 98% operating margin.

Mission

KDS, Inc. holds title to property for Norton Sound Development Corporation (NSEDC), EIN 86-0710852, which is tax exempt under 501(c)(4). NSEDC's purpose is to promote economic development in the Norton Sound region as a participant in the Community Development Quota Program which uses quota share income to fund economic development activities in member villages in western Alaska, in accordance with section 305(I)(1) of the Magnuson-Stevens Fishery Conservation and Management Act, codified at 16 USC 1855(I)(1).

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,456,954

Investment Income $0

Other Revenue $0

TOTAL REVENUE $3,456,954

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $76,911

Other Expenses $76,911

TOTAL EXPENSES $76,911

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,456,954	$6,149,405	-0.4%
Expenses	$76,911	$73,361	+0.0%
Net Income	$3,380,043	$6,076,044	-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

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

$1,751,576

Total Directors

$763,038

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Janis Ivanoff	President & CEO	1.00	Officer	$0	$79,949	$473,086
Simon Kinneen	VP and CBO	1.00	Officer	$0	$74,855	$363,256
Tyler Rhodes	COO	1.00	Officer	$0	$73,076	$341,714
Matt Coates	Treasurer & CFO	1.00	Officer	$0	$69,428	$297,525
Wes Jones	Quota Manager	1.00		$0	$65,825	$253,891
Paul Ivanoff	Comm Benefits Dir	1.00		$0	$64,097	$232,896
Justin Noffsker	NSSP Director	1.00		$0	$45,075	$226,970
Josh Osborne	NSSP Plant Manager	1.00		$0	$44,317	$217,794
Kathy Wheelehan	Secretary	1.00	Officer	$0	$32,563	$213,997
Leslie Ladegard	HR Director	1.00		$0	$43,393	$206,604
Frank Katchatag	Chairman	1.00	Officer Director	$0	$0	$61,998
Milton Cheemuk	Director	1.00	Director	$0	$0	$60,727
James Sherman	Director	1.00	Director	$0	$0	$60,280
Dean Peterson	Director	1.00	Director	$0	$0	$55,797
Harvey Sookiayak	Director	1.00	Director	$0	$0	$54,924
Daniel Harrelson	Director	1.00	Director	$0	$0	$54,855
Anna Oxereok	Director	1.00	Director	$0	$0	$50,929
Shirley Antoghame	Director	1.00	Director	$0	$0	$50,117
Frieda Southall	Director	1.00	Director	$0	$0	$49,116
Preston Rookok	Director	1.00	Director	$0	$0	$49,098
Morris Nashoanak	Director	1.00	Director	$0	$0	$48,547
Joseph Garnie	Director	1.00	Director	$0	$0	$46,836
Melvin Otton	Director	1.00	Director	$0	$0	$44,356
Arthur Amaktoolik	Director	1.00	Director	$0	$0	$39,404
Samantha Ozenna	Director	1.00	Director	$0	$0	$18,335
Frances Ozenna	Director	1.00	Director	$0	$0	$11,415
Ronald Daniels	Director	1.00	Director	$0	$0	$6,304

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	$3,456,954	$76,911	$28,044,895	$3,380,043
2023	$6,149,405	$73,361	$31,660,699	$6,076,044
2022	$5,561,948	$71,666	$25,581,255	$5,490,282
2021	$5,140,395	$254,047	$30,730,931	$4,886,348
2020	$2,452,541	$335,035	$27,246,904	$2,117,506
2019	$5,468,195	$568,933	$28,103,570	$4,899,262
2018	$1,997,407	$611,419	$24,492,224	$1,385,988

KDS Inc CO Norton Sound Economic Development