ASHEVILLE INDEPENDENT RESTAURANT

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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

2002

Legal Domicile

Principal Officer

ANTHONY CERRATO

Phone

8287772048

Tax Period

2024-01-01 to 2024-12-31

ASHEVILLE INDEPENDENT RESTAURANT, founded in 2002, is a small nonprofit in the Community Improvement sector that reported $310K in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $347K exceeded revenue, resulting in a 12% operating deficit.

Mission

COOPERATIVELY PROMOTE THE COMMON INTERESTS AND CONTRIBUTE TO THE WELL BEING AND EDUCATION OF INDEPENDENT RESTAURANT OWNERS, EMPLOYEES, PATRONS AND OTHER NON-PROFIT ORGANIZATIONS.

Program Service Accomplishments

Program 1

Expenses: $332,559 Revenue: $89,083

THE ORGANIZATION SERVED OVER 100 MEMBER RESTAURANTS, THEIR PATRONS, EMPLOYEES AND OWNERS, OVER 50 ASSOCIATE BUSINESS MEMBERS, AND THE PUBLIC AT LARGE WITH EDUCATION ON THE BENEFITS OF KEEPING LOCALLY OWNED BUSINESSES ACTIVE AND THRIVING, SAFE FOOD HANDLING, AND ENVIRONMENTAL ISSUES. THIS WAS DONE VIA WEEKLY ENEWSLETTERS, CLASSROOM INSTRUCTION, RADIO AND WEBSITE EDUCATIONAL FORMATS.

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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 $164,802

Program Service Revenue $89,083

Investment Income $2,689

Other Revenue $53,225

TOTAL REVENUE $309,799

Expense Breakdown

Grants Paid $0

Salaries & Benefits $121,535

Fundraising Expenses $14,449

Program Expenses $332,559

Other Expenses $225,473

TOTAL EXPENSES $347,008

Year-over-Year Comparison

	2024	2023	Change
Revenue	$309,799	$278,872	+0.1%
Expenses	$347,008	$201,821	+0.7%
Net Income	$-37,209	$77,051	-1.5%

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

Total Directors

$84,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MEGHAN ROGERS	EXECUTIVE DI	40.00	Director	$84,000	$0	$84,000
ELIZABETH BUTTON	CHAIR	2.00	Officer Director	$0	$0	$0
CHRIS CAVANAUGH	NON-VOTING M	2.00	Director	$0	$0	$0
ANTHONY CERRATO	TREASURER	2.00	Officer Director	$0	$0	$0
JOHN FLEER	BOARD MEMBER	2.00	Director	$0	$0	$0
DANO HOLCOMB	BOARD MEMBER	2.00	Director	$0	$0	$0
CATHY HORTON	NON VOTING M	2.00	Director	$0	$0	$0
VICTORIA ISLEY	NON VOTING M	2.00	Director	$0	$0	$0
MIKE MCCARTY	BOARD MEMBER	2.00	Director	$0	$0	$0
MICHAEL MURPHY	NON VOTING M	2.00	Director	$0	$0	$0
TREVOR PAYNE	BOARD MEMBER	2.00	Director	$0	$0	$0
SABRINA ROCKOFF	NON VOTING M	2.00	Director	$0	$0	$0
VANESSA SALOMO	VICE CHAIR	2.00	Officer Director	$0	$0	$0
AMANDA SCHAEFER	BOARD MEMBER	2.00	Director	$0	$0	$0
JAEL SKEFFINGTON	BOARD MEMBER	2.00	Director	$0	$0	$0
LISA SMITH-VANN	BOARD MEMBER	2.00	Director	$0	$0	$0
CHARLOTTE STACK	BOARD MEMBER	2.00	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
2024	$309,799	$347,008	$136,132	$-37,209
2023	$278,872	$201,821	$173,341	$77,051
2022	$155,418	$184,005	$96,290	$-28,587
2021	$155,576	$124,228	$124,877	$31,348
2019	$223,038	$216,721	$123,670	$6,317
2018	$196,100	$184,633	$117,352	$11,467