MID STATE DEVELOPMENT CORPORATION

EIN: 953507734

BAKERSFIELD, CA

Total Revenue
$149,647
Total Expenses
$248,785
Total Assets
N/A
Net Assets
N/A
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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
1980
Legal Domicile
CA
Principal Officer
FRANK C GALLEGOS
Phone
6613224241
Tax Period
2023-10-01 to 2024-09-30

MID STATE DEVELOPMENT CORPORATION, founded in 1980, is a small nonprofit that reported $150K in total revenue in fiscal year 2023. Revenue fell 82% from the prior year — a significant decline worth monitoring. Expenses of $249K exceeded revenue, resulting in a 66% operating deficit.

Mission

TO STIMULATE ECONOMIC DEVELOPMENT AND CREATE (OR RETAIN) JOBS IN THE REGION BY HELPING SMALL AND MEDIUM - SIZE BUSINESSES OBTAIN FINANCING.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $149,590
Investment Income $57
Other Revenue $0
TOTAL REVENUE $149,647

Expense Breakdown

Grants Paid $0
Salaries & Benefits $147,634
Fundraising Expenses $0
Program Expenses $182,970
Other Expenses $101,151
TOTAL EXPENSES $248,785

Year-over-Year Comparison

2023 2022 Change
Revenue $149,647 $821,922 -0.8%
Expenses $248,785 $773,562 -0.7%
Net Income $-99,138 $48,360 -3.1%
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

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Governance

Voting Members
15
Independent Members
15
Employees
5
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
4
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARK AUGUSTINE BOARD MEMBER N/A
Director
$0 $0 $0
DEANNA BLAISE BOARD MEMBER N/A
Director
$0 $0 $0
MORGAN CLAYTON BOARD MEMBER N/A
Director
$0 $0 $0
PATRICK COLLINS BOARD MEMBER N/A
Director
$0 $0 $0
RICHARD FANUCCHI BOARD MEMBER N/A
Director
$0 $0 $0
STEPHEN HAUPT BOARD MEMBER N/A
Director
$0 $0 $0
BART HILL SECRETARY N/A
Director
$0 $0 $0
WAYNE KRESS BOARD MEMBER N/A
Director
$0 $0 $0
NICK ORTIZ BOARD MEMBER N/A
Director
$0 $0 $0
JOHN PRYOR BOARD MEMBER N/A
Director
$0 $0 $0
MARK SMITH BOARD MEMBER N/A
Director
$0 $0 $0
FRANK C GALLEGOS CENCAL EXEC N/A
Officer
$0 $0 $0
TROY GRANT TREASURER N/A
Officer
$0 $0 $0
ANTHONY OLIVIERI CHAIR N/A
Officer
$0 $0 $0
CHERYL SCOTT PAST CHAIR N/A
Officer
$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 $149,647 $248,785 No data $-99,138
2023 $821,922 $773,562 $1,111,122 $48,360
2022 $777,454 $813,447 $1,160,589 $-35,993
2021 $507,057 $673,233 $1,346,116 $-166,176
2020 $693,820 $806,036 $1,311,136 $-112,216
2019 $656,650 $778,968 $1,429,039 $-122,318
2018 $724,047 $746,675 $1,470,146 $-22,628
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