Carolina Hurricanes Foundation (EIN 222652765) - 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

1986

Legal Domicile

Principal Officer

DOUG WARF

Phone

9198615467

Tax Period

2023-08-01 to 2024-07-31

Carolina Hurricanes Foundation, founded in 1986, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $1.2M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $345K, a strong 29% operating margin.

Mission

THE FOUNDATION RAISES AND DONATES MONEY TO VARIOUS ORGANIZATIONS IN ORDER TO SUPPORT THE LOCAL COMMUNITY.

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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 $1,176,819

Program Service Revenue $0

Investment Income $39,975

Other Revenue $-34,004

TOTAL REVENUE $1,182,790

Expense Breakdown

Grants Paid $639,685

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $639,685

Other Expenses $198,405

TOTAL EXPENSES $838,090

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,182,790	$1,004,092	+0.2%
Expenses	$838,090	$611,568	+0.4%
Net Income	$344,700	$392,524	-0.1%

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

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
DON WADDELL	PRESIDENT (THRU 05/24)	1.0	Officer Director	$0	$0	$0
SHAUN NICHOLSON	TREASURER	1.0	Officer Director	$0	$0	$0
NIGEL WHEELER	SECRETARY	1.0	Officer Director	$0	$0	$0
GREG DOBBYN	BOARD MEMBER	1.0	Director	$0	$0	$0
COURTNEY KAMLET	BOARD MEMBER	1.0	Director	$0	$0	$0
MICHAEL MCMYNE	BOARD MEMBER	1.0	Director	$0	$0	$0
REBECCA QUINN-WOLF	BOARD MEMBER	1.0	Director	$0	$0	$0
LISA SCHILLER	BOARD MEMBER	1.0	Director	$0	$0	$0
HARVEY SCHMITT	BOARD MEMBER	1.0	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
2024	$1,182,790	$838,090	$1,883,895	$344,700
2023	$1,004,092	$611,568	$1,083,414	$392,524
2022	$743,119	$381,362	$900,723	$361,757
2021	$244,866	$173,433	$594,153	$71,433
2020	$813,618	$793,800	$496,593	$19,818
2019	$920,686	$815,097	$301,030	$105,589
2018	$603,591	$600,083	$180,018	$3,508

Carolina Hurricanes Foundation