CABARRUS COUNTY TOURISM AUTHORITY

EIN: 262726341 Community Improvement

CONCORD, NC

Total Revenue
$7,770,158
Total Expenses
$7,375,763
Total Assets
$9,884,202
Net Assets
$6,945,535
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
NC
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.

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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%)

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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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Governance

Voting Members
12
Independent Members
12
Employees
22
Volunteers
70

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
3
$0
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
4
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
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