CABARRUS COUNTY TOURISM AUTHORITY

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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

2008

Legal Domicile

Principal Officer

JOHN MILLS

Phone

7047824340

Tax Period

2024-07-01 to 2025-06-30

CABARRUS COUNTY TOURISM AUTHORITY, founded in 2008, is a community nonprofit in the Community Improvement sector that reported $7.8M in total revenue in fiscal year 2024. Expenses of $7.4M left a modest 5% surplus.

Mission

DRIVE VISITATION TO CABARRUS COUNTY TO GENERATE THE MAXIMUM IMPACT THROUGH HOTEL STAYS AND VISITOR SPENDING.

Program Service Accomplishments

Program 1

Expenses: $6,269,399

DRIVE VISITATION TO CABARRUS COUNTY TO GENERATE THE MAXIMUM IMPACT THROUGH HOTEL STAYS AND VISITOR SPENDING.

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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 $0

Program Service Revenue $7,550,801

Investment Income $207,781

Other Revenue $11,576

TOTAL REVENUE $7,770,158

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,073,527

Fundraising Expenses $0

Program Expenses $6,269,399

Other Expenses $5,302,236

TOTAL EXPENSES $7,375,763

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,770,158	$7,391,269	+0.1%
Expenses	$7,375,763	$6,430,107	+0.1%
Net Income	$394,395	$961,162	-0.6%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GREG WALTER	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
STEVE STEINBACHER	SECRETARY	1.00	Officer Director	$0	$0	$0
JAY WHITE	TREASURER	1.00	Officer Director	$0	$0	$0
KENNY WORTMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
ALISON PALADINO	BOARD MEMBER	1.00	Director	$0	$0	$0
SEAN NEWTON	BOARD MEMBER	1.00	Director	$0	$0	$0
LLOYD PAYNE	BOARD MEMBER	1.00	Director	$0	$0	$0
DEVANTE WATKINS	BOARD MEMBER	1.00	Director	$0	$0	$0
ANGELA BROWN	BOARD MEMBER	1.00	Director	$0	$0	$0
MELISSA EWERT	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES ROSS	BOARD MEMBER	1.00	Director	$0	$0	$0
VINAY PATEL	BOARD MEMBER	1.00	Director	$0	$0	$0
DONNA CARPENTER	PRESIDENT/CEO	40.00	Highest	$183,615	$31,721	$215,336
JOHN MILLS	EX. VICE PRESIDENT FINANCE	40.00	Highest	$136,506	$26,751	$163,257
MICHAEL BONOFFSKI	SR VP MARKETING	40.00	Highest	$129,444	$25,117	$154,561
JOHN POOLE	SR VP SALES	40.00	Highest	$123,114	$24,289	$147,403

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	$7,770,158	$7,375,763	$9,884,202	$394,395
2024	$7,391,269	$6,430,107	$8,662,539	$961,162
2023	$7,240,239	$7,621,148	$7,825,518	$-380,909
2022	$6,458,365	$4,720,081	$8,063,508	$1,738,284
2021	$3,753,868	$2,771,239	$5,282,456	$982,629
2020	$4,157,600	$4,581,328	$3,846,907	$-423,728
2019	$5,770,181	$5,574,269	$4,249,810	$195,912