GOLDSBORO DEVELOPMENT CORPORATION (EIN 311480310) - 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

1997

Legal Domicile

Principal Officer

WILLIAMS TURNER

Phone

9197354226

Tax Period

2024-07-01 to 2025-06-30

GOLDSBORO DEVELOPMENT CORPORATION, founded in 1997, is a small nonprofit in the Housing & Shelter sector that reported $211K in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $441K exceeded revenue, resulting in a 109% operating deficit.

Mission

PROVIDE HOUSING FOR LOW AND VERY LOW INCOME

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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 $210,203

Investment Income $1,180

Other Revenue $0

TOTAL REVENUE $211,383

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $386,982

Other Expenses $441,290

TOTAL EXPENSES $441,290

Year-over-Year Comparison

	2024	2023	Change
Revenue	$211,383	$181,126	+0.2%
Expenses	$441,290	$336,515	+0.3%
Net Income	$-229,907	$-155,389	+0.5%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM TURNER	CHAIRMAN	1.00	Officer Director	$0	$0	$0
SIERRA CARMICHAEL	MEMBER	1.00	Director	$0	$0	$0
JEAN WHITFIELD	MEMBER	1.00	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	$211,383	$441,290	$2,271,401	$-229,907
2024	$181,126	$336,515	$2,549,801	$-155,389
2023	$168,560	$390,596	$2,705,287	$-222,036
2022	$161,242	$227,357	$2,962,441	$-66,115
2021	$182,169	$154,127	$3,004,036	$28,042
2020	$80,908	$174,750	$2,975,829	$-93,842
2019	$1,401,813	$252,440	$3,079,119	$1,149,373

GOLDSBORO DEVELOPMENT CORPORATION