Destination Cleveland County (EIN 208085344) - 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

2006

Legal Domicile

Principal Officer

Michelle Garey

Phone

7044822001

Tax Period

2024-07-01 to 2025-06-30

Destination Cleveland County, founded in 2006, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.6M in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $1.4M left a modest 15% surplus.

Mission

To promote the cultural and economic development of Cleveland County, NC by uniting our counties history, heritage, culture, and arts to create a vibrant economy while embracing the future and preserving the past.

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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 $1,225,241

Program Service Revenue $229,305

Investment Income $33,137

Other Revenue $135,563

TOTAL REVENUE $1,623,246

Expense Breakdown

Grants Paid $0

Salaries & Benefits $446,081

Fundraising Expenses $133,841

Program Expenses $1,000,262

Other Expenses $941,315

TOTAL EXPENSES $1,387,396

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,623,246	$1,237,636	+0.3%
Expenses	$1,387,396	$1,222,493	+0.1%
Net Income	$235,850	$15,143	+14.6%

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

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

$89,714

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mary Beth Martin	Executive Dir.	45.00	Officer	$82,625	$7,089	$89,714
Melanie Graham	Director	1.00	Director	$0	$0	$0
Tom McNichol	Director	1.00	Director	$0	$0	$0
Larry Dooley	Director	1.00	Director	$0	$0	$0
Mary Pat Monteith	Sec./Treasurer	1.00	Officer Director	$0	$0	$0
Sherry Grenier	Director	1.00	Director	$0	$0	$0
Michelle Garey	Chair	2.00	Officer Director	$0	$0	$0
Laura Lampley	Director	1.00	Director	$0	$0	$0
Millie Wood	Past Chair	1.00	Officer Director	$0	$0	$0
Randy Wieck	Director	1.00	Director	$0	$0	$0
Scott Stinchcomb	Director	1.00	Director	$0	$0	$0
Roger Holland	Director	1.00	Director	$0	$0	$0
Woody Fish	Ex-Officio	2.00	Director	$0	$0	$0
Roger Harris	Ex-Officio	2.00	Director	$0	$0	$0
Jack Buchanan	Director	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
2025	$1,623,246	$1,387,396	$5,893,704	$235,850
2024	$1,237,636	$1,222,493	$5,646,398	$15,143
2023	$-13,473	$971,859	$4,925,715	$-985,332
2022	$848,896	$978,269	$7,052,846	$-129,373
2021	$703,606	$842,974	$7,212,747	$-139,368
2020	$1,082,158	$942,528	$7,565,013	$139,630
2019	$811,845	$1,104,986	$7,409,935	$-293,141
2018	$812,209	$1,039,682	$7,660,835	$-227,473

Destination Cleveland County