CAROLINA SOARING ASSOCIATION

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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

2007

Legal Domicile

Principal Officer

TIM PLACE

Phone

8036224569

Tax Period

2024-01-01 to 2024-12-31

CAROLINA SOARING ASSOCIATION, founded in 2007, is a micro nonprofit in the Recreation & Sports sector that reported $37K in total revenue in fiscal year 2024. Expenses of $31K left a modest 14% surplus.

Mission

THE ASSOCIATION DEVOTES ITS PROGRAMS TO THE STUDY OF SOARING WEATHER AND EDUCATIONAL PROGRAMS IN THE SCIENCE OF MOTORLESS FLIGHT.

Program Service Accomplishments

Program 1

Expenses: $29,828 Revenue: $36,515

THE ASSOCIATION DEVOTES ITS PROGRAMS TO THE STUDY OF SOARING WEATHER AND EDUCATIONAL PROGRAMS IN THE SCIENCE OF MOTORLESS FLIGHT.

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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 $18,170

Program Service Revenue $18,341

Investment Income $3

Other Revenue $0

TOTAL REVENUE $36,514

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $29,828

Other Expenses $31,440

TOTAL EXPENSES $31,440

Year-over-Year Comparison

	2024	2023	Change
Revenue	$36,514	$35,162	+0.0%
Expenses	$31,440	$31,140	+0.0%
Net Income	$5,074	$4,022	+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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIM PLACE	TREASURER	1.00	Officer	$0	$0	$0
LARRY TRAVERS	PRESIDENT	2.00	Officer	$0	$0	$0
PAUL VANGASTEL	SECRETARY	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	$36,514	$31,440	$71,644	$5,074
2023	$35,162	$31,140	$66,570	$4,022
2022	$38,471	$36,110	$62,548	$2,361
2021	$32,662	$33,576	$60,187	$-914
2020	$27,143	$30,606	$61,101	$-3,463
2019	$30,170	$46,915	$64,564	$-16,745