ARIZONA ASSOCIATION FOR ECONOMIC D… - Form 990 Financial Data

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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

1974

Legal Domicile

Principal Officer

KATIE HURST

Phone

6022402233

Tax Period

2023-07-01 to 2024-06-30

ARIZONA ASSOCIATION FOR ECONOMIC DEVELOPMENT, founded in 1974, is a small nonprofit that reported $612K in total revenue in fiscal year 2023. Expenses of $555K left a modest 9% surplus.

Mission

TO SERVE AS ARIZONA'S UNIFIED VOICE ADVOCATING FOR RESPONSIBLE ECONOMIC DEVELOPMENT THROUGH PROFESSIONAL EDUCATION, PUBLIC POLICY, AND COLLABORATION.

Program Service Accomplishments

Program 1

Arizona Economic Development Pro certification (AZED Pro), educational webinars and roundtables, Basic Economic Development Course offered with the International Economic Development Council, EDDE...

Arizona Economic Development Pro certification (AZED Pro), educational webinars and roundtables, Basic Economic Development Course offered with the International Economic Development Council, EDDE Awards and Golden Prospector Awards, facilitating regional collaboration across Arizona,advocacy for economic development policies.

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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 $183,000

Program Service Revenue $416,430

Investment Income $11,801

Other Revenue $339

TOTAL REVENUE $611,570

Expense Breakdown

Grants Paid $0

Salaries & Benefits $239,533

Fundraising Expenses $0

Other Expenses $315,272

TOTAL EXPENSES $554,805

Year-over-Year Comparison

	2023	2022	Change
Revenue	$611,570	$601,283	+0.0%
Expenses	$554,805	$613,536	-0.1%
Net Income	$56,765	$-12,253	-5.6%

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

200

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
CARRIE KELLY	EXECUTIVE DIRECTOR	40.00		$56,045	$0	$56,045
KATIE HURST	EXECUTIVE DIRECTOR	40.00		$32,219	$0	$32,219
SKIP BECKER	President	3.00	Officer Director	$0	$0	$0
KARLA MORAN	PRES ELECT	3.00	Officer Director	$0	$0	$0
JENNIFER LINDLEY	Vice President	3.00	Officer Director	$0	$0	$0
HEATH VESCOVI-CHIORDI	SECY/TREAS	3.00	Officer Director	$0	$0	$0
WENDY BRIDGES	PAST PRES	3.00	Officer Director	$0	$0	$0
CUTTER CHAMBERLAIN	Director	0.00	Director	$0	$0	$0
TOM PITTS	Director	0.00	Director	$0	$0	$0
JAMES SMITH	Director	0.00	Director	$0	$0	$0
TIM SUAN	Director	0.00	Director	$0	$0	$0
KIRSTEN HALL	Director	0.00	Director	$0	$0	$0
MICHAEL JANSEN	Director	0.00	Director	$0	$0	$0
KRISTEN STEPHENSON	Director	0.00	Director	$0	$0	$0
RICHARD HERNANDEZ	Director	0.00	Director	$0	$0	$0
JACK FITCHETT	Director	0.00	Director	$0	$0	$0
MAGGIE HOLMBERG	Director	0.00	Director	$0	$0	$0
SUZANNE BOYLES	Director	0.00	Director	$0	$0	$0
AMANDA BRUNO	Director	0.00	Director	$0	$0	$0
JAYE O'DONNELL	Director	0.00	Director	$0	$0	$0
REBECCA TIMMER	Director	0.00	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	$611,570	$554,805	$485,656	$56,765
2023	$601,283	$613,536	$400,327	$-12,253
2022	$607,489	$602,580	$444,695	$4,909
2021	$384,763	$423,638	$468,682	$-38,875
2020	$499,013	$500,490	$446,099	$-1,477
2019	$601,430	$574,223	$453,495	$27,207

ARIZONA ASSOCIATION FOR ECONOMIC DEVELOPMENT