CHARLOTTE CITY MARKET

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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

2010

Legal Domicile

Principal Officer

MICHAEL J SMITH

Phone

7043329575

Tax Period

2023-07-01 to 2024-06-30

CHARLOTTE CITY MARKET, founded in 2010, is a small nonprofit in the Health Care sector that reported $587K in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $814K exceeded revenue, resulting in a 39% operating deficit.

Mission

THE MARKET AT 7TH STREET IS A MISSION-BASED NONPROFIT THAT COMBINES CULINARY AND RETAIL INNOVATION, ECONOMIC OPPORTUNITY, AND A SENSE OF BELONGING. THE MARKET: 1) INCUBATES NEW FOOD AND RETAIL BUSINESSES, 2) SUPPORTS ECONOMIC MOBILITY THROUGH ENTREPRENEURSHIP, AND 3) BUILDS COMMUNITY WELLNESS, AS A WELCOMING COMMONS FOR ALL.

Program Service Accomplishments

Program 1

Expenses: $690,331 Revenue: $383,278

THE MARKET RESERVES A PERCENTAGE OF SPACES FOR EARLY-STAGE, LOCAL ENTREPRENEURS, CHEFS, RETAILERS, AND MAKERS. THE MARKET PROVIDES BELOW-MARKET AND SCALABLE RENTS, MARKETING SUPPORT, EXPERIENTIAL...

THE MARKET RESERVES A PERCENTAGE OF SPACES FOR EARLY-STAGE, LOCAL ENTREPRENEURS, CHEFS, RETAILERS, AND MAKERS. THE MARKET PROVIDES BELOW-MARKET AND SCALABLE RENTS, MARKETING SUPPORT, EXPERIENTIAL EDUCATION PROGRAMS, ACCESS TO RESOURCES, AND MENTORSHIP SUPPORT THROUGH THE EARLY STAGES OF BUSINESS DEVELOPMENT.

Program 2

MANY OF THE MARKET'S EARLY ENTREPRENEURS ARE OWNERS WHO ARE HIGH-APTITUDE AND UNDER-CAPITALIZED THAT ARE LAUNCHING THEIR FIRST BUSINESSES. THE MARKET SUPPORTS THEM AS THEY NAVIGATE THE FIRST YEARS SO...

Program 3

THE MARKET IS THE DESIRED DESTINATION TO DEVELOP INNOVATIVE FOOD AND RETAIL CONCEPTS AND THE AUTHENTIC COMMUNITY GATHERING SPOT FOR ALL RESIDENTS AND VISITORS.

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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 $203,240

Program Service Revenue $362,741

Investment Income $0

Other Revenue $20,563

TOTAL REVENUE $586,544

Expense Breakdown

Grants Paid $0

Salaries & Benefits $286,450

Fundraising Expenses $29,517

Program Expenses $690,331

Other Expenses $527,155

TOTAL EXPENSES $813,605

Year-over-Year Comparison

	2023	2022	Change
Revenue	$586,544	$665,942	-0.1%
Expenses	$813,605	$684,095	+0.2%
Net Income	$-227,061	$-18,153	+11.5%

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

$114,563

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SALEM SUBER	EXECUTIVE DIRECTOR	40.00	Officer	$0	$20,729	$87,522
ELENI SAUNDERS	CFO	6.00	Officer	$0	$6,139	$27,041
HENDRICK ELLIS	DIRECTOR	1.00	Director	$0	$0	$0
HOLLY ESKRIDGE	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL B MURREY MD MPP	DIRECTOR	1.00	Director	$0	$0	$0
LAURA PERES	DIRECTOR	1.00	Director	$0	$0	$0
MICHELE GLESSNER	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD MATHIEU	DIRECTOR	1.00	Director	$0	$0	$0
HEIDI SMITH	DIRECTOR	1.00	Director	$0	$0	$0
CORINNE WEBER	DIRECTOR	1.00	Director	$0	$0	$0
ANTHONY TROTMAN	DIRECTOR	1.00	Director	$0	$0	$0
LEO SCARPATI	DIRECTOR	1.00	Director	$0	$0	$0
JOE HAUBENHOFER	DIRECTOR	1.00	Director	$0	$0	$0
LAURA WHITE	DIRECTOR	1.00	Director	$0	$0	$0
BLAIR PRIMIS	CHAIRMAN	1.00	Officer Director	$0	$0	$0
MICHAEL J SMITH	SECRETARY/TREASURER	5.00	Officer 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
2025	No data	No data	No data	No data
2024	$586,544	$813,605	$914,566	$-227,061
2023	$665,942	$684,095	$1,043,819	$-18,153
2022	$451,434	$668,838	$961,593	$-217,404
2021	$436,862	$536,744	$1,045,529	$-99,882
2020	$420,236	$467,269	$1,234,761	$-47,033
2019	$467,360	$488,333	$1,272,906	$-20,973
2018	$527,140	$531,031	$1,227,398	$-3,891