TRIANGLE AQUATIC CENTER (EIN 141839387) - 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

2002

Legal Domicile

Principal Officer

KEVIN CHIGNELL

Phone

9194594045

Tax Period

2023-01-01 to 2023-08-31

TRIANGLE AQUATIC CENTER, founded in 2002, is a community nonprofit in the Recreation & Sports sector that reported $4.9M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $4.6M left a modest 7% surplus.

Mission

DEVELOPING SWIMMERS FOR LIFELONG SUCCESS

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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 $529,179

Program Service Revenue $3,955,836

Investment Income $214,844

Other Revenue $219,360

TOTAL REVENUE $4,919,219

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,189,078

Fundraising Expenses $0

Program Expenses $4,362,226

Other Expenses $3,407,744

TOTAL EXPENSES $4,596,822

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,919,219	$6,275,606	-0.2%
Expenses	$4,596,822	$5,820,641	-0.2%
Net Income	$322,397	$454,965	-0.3%

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

208

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
ROBBIE BELL	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN CHIGNELL	CHAIRMAN	3.00	Officer Director	$0	$0	$0
MICHAEL CURRAN	PAST CHAIRMA	3.00	Officer Director	$0	$0	$0
VAN FLETCHER	VICE CHAIRMA	3.00	Officer Director	$0	$0	$0
JEFF HENSLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
LISA HONAKER	BOARD MEMBER	1.00	Director	$0	$0	$0
CHARLIE HOUCHIN	BOARD MEMBER	1.00	Director	$0	$0	$0
KRISTIN CURRAN PAKE	SECRETARY	3.00	Officer Director	$0	$0	$0
NICK PALEOCRASSAS	BOARD MEMBER	1.00	Director	$0	$0	$0
CANDIS PARKER	BOARD MEMBER	1.00	Director	$0	$0	$0
JORDAN TODD	BOARD MEMBER	1.00	Director	$0	$0	$0
JONAH TURNER	BOARD MEMBER	1.00	Director	$0	$0	$0
TRAVIS WILLIAMS	BOARD MEMBER	1.00	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
2023	$4,919,219	$4,596,822	$25,827,862	$322,397
2022	$6,275,606	$5,820,641	$24,930,692	$454,965
2021	$5,716,572	$4,759,287	$23,604,525	$957,285
2020	$4,204,626	$7,611,958	$15,537,026	$-3,407,332
2019	$5,532,700	$5,482,396	$18,306,731	$50,304
2018	$4,525,039	$4,411,151	$16,223,972	$113,888

TRIANGLE AQUATIC CENTER