CHARLOTTE HORNETS FOUNDATION INC (EIN 200946449) - 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

JAMES H DUNLEVY CPA

Phone

7046889000

Tax Period

2023-10-01 to 2024-09-30

CHARLOTTE HORNETS FOUNDATION INC, founded in 2004, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $655K in total revenue in fiscal year 2023. Revenue fell 51% from the prior year — a significant decline worth monitoring. Expenses of $1.3M exceeded revenue, resulting in a 93% operating deficit.

Mission

THE FOUNDATION SUPPORTS THE ENRICHMENT OF THOSE IN NEED, ESPECIALLY (CONTINUED IN SCH O) CHILDREN, IN THE CHARLOTTE AREA THROUGH COMMUNITY OUTREACH AND SUPPORTING OTHER ORGS WITH SIMILAR GOALS.

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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 $857,309

Program Service Revenue $0

Investment Income $75,561

Other Revenue $-277,621

TOTAL REVENUE $655,249

Expense Breakdown

Grants Paid $1,256,187

Salaries & Benefits $0

Fundraising Expenses $3,010

Program Expenses $1,256,187

Other Expenses $10,471

TOTAL EXPENSES $1,266,658

Year-over-Year Comparison

	2023	2022	Change
Revenue	$655,249	$1,346,185	-0.5%
Expenses	$1,266,658	$399,294	+2.2%
Net Income	$-611,409	$946,891	-1.6%

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

N/A

Employees

N/A

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

$203,755

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL JORDAN	DIRECTOR, CHAIRMAN (THRU 10/23)	1.00	Officer Director	$0	$0	$0
FRED WHITFIELD	DIR., VICE CHAIRMAN (THRU 10/23)	1.00	Officer Director	$0	$0	$0
RICK SCHNALL	DIR., CO-CHAIRPERSON (AS OF 10/23)	1.00	Officer Director	$0	$0	$0
GABE PLOTKIN	DIR., CO-CHAIRPERSON (AS OF 10/23)	1.00	Officer Director	$0	$0	$0
JAMES JORDAN	DIRECTOR, PRESIDENT	1.00	Officer Director	$0	$0	$0
JAMES H DUNLEVY	DIRECTOR, TREASURER	2.00	Officer Director	$0	$0	$0
AMY DAWSON	DIRECTOR (AS OF 10/23)	1.00	Director	$0	$0	$0
DAMIAN MILLS	DIRECTOR (AS OF 10/23)	1.00	Director	$0	$0	$0
MC BELK PILON	DIRECTOR	1.00	Director	$0	$0	$0
BETSY MACK	EXECUTIVE DIRECTOR	40.00	Officer	$0	$11,528	$203,755
SHANNON GILLIGAN	SECRETARY (AS OF 10/23)	1.00	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	$655,249	$1,266,658	$1,592,532	$-611,409
2023	$1,346,185	$399,294	$1,909,998	$946,891
2022	$410,729	$276,833	$931,076	$133,896
2021	$174,079	$214,781	$948,608	$-40,702
2020	$327,400	$443,809	$562,011	$-116,409
2019	$622,966	$472,872	$956,258	$150,094
2018	$398,155	$435,206	$872,262	$-37,051

CHARLOTTE HORNETS FOUNDATION INC