7 DEGREES OF CHANGE FOUNDATION INC

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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

2009

Legal Domicile

Principal Officer

PAUL NORCROSS

Phone

3368801713

Tax Period

2022-07-01 to 2023-06-30

7 DEGREES OF CHANGE FOUNDATION INC, founded in 2009, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $188K in total revenue in fiscal year 2022. Revenue fell 96% from the prior year — a significant decline worth monitoring. Expenses of $792K exceeded revenue, resulting in a 320% operating deficit.

Mission

TO BUILD ON OUR SUCESSES IN THE AREAS OF EDUCAITON AND LITERACY AND TO EXPAND OUR OUTREACH TO HELP MORE PEOPLE WITH BOOKS, LIBRARIES, EDUCATION SERVICES AND THERAPEUTIC PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $561,657 Revenue: $47,607

AS A CHARTER MANAGEMENT ORGANIZATION, THE FOUNDATION PROVIDES MANAGEMENT, OPERATIONAL AND EDUCATIONAL SERVICES TO PHOENIX ACADEMY, A K-8 CHARTER SCHOOL IN HIGH POINT, NC. THE FOUNDATION IS...

AS A CHARTER MANAGEMENT ORGANIZATION, THE FOUNDATION PROVIDES MANAGEMENT, OPERATIONAL AND EDUCATIONAL SERVICES TO PHOENIX ACADEMY, A K-8 CHARTER SCHOOL IN HIGH POINT, NC. THE FOUNDATION IS RESPONSIBLE FOR THE IMPLEMENTATION AND ADMINISTRATION OF THE EDUCATION PROGRAM UNDER THE OVERSIGHT AND CONTROL OF THE BOARD OF PHOENIX ACADEMY. THE FOUNDATION IS ALSO RESPONSIBLE FOR THE MANAGEMENT OF PERSONNEL, FACILITY OPERATION, BUSINESS AND ACCOUNTING OPERATIONS AND OTHER FUNCTIONS NECESSARY FOR THE ADMINISTRATION OF PHOENIX ACADEMY.

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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 (2022)

Revenue Breakdown

Contributions & Grants $5,445

Program Service Revenue $47,607

Investment Income $69,555

Other Revenue $65,703

TOTAL REVENUE $188,310

Expense Breakdown

Grants Paid $0

Salaries & Benefits $486,857

Fundraising Expenses $70,468

Program Expenses $561,657

Other Expenses $304,956

TOTAL EXPENSES $791,813

Year-over-Year Comparison

	2022	2021	Change
Revenue	$188,310	$4,668,531	-1.0%
Expenses	$791,813	$1,162,329	-0.3%
Net Income	$-603,503	$3,506,202	-1.2%

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

N/A

Employees

Volunteers

N/A

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

$392,400

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KIMBERLY NORCROSS	VICE CHAIR/V	40.00	Officer	$196,200	$0	$196,200
PAUL NORCROSS	CHAIR/PRESID	40.00	Officer	$196,200	$0	$196,200

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	No data	No data	No data	No data
2023	$188,310	$791,813	$3,842,679	$-603,503
2022	$4,668,531	$1,162,329	$4,495,690	$3,506,202
2021	$1,781,088	$1,437,147	$1,118,720	$343,941
2019	$1,335,938	$1,357,304	$371,754	$-21,366