CROSSNORE SCHOOL CHILDRENS FOUNDAT… - Form 990 Financial Data

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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

2012

Legal Domicile

Principal Officer

BRETT LOFTIS

Phone

8287334305

Tax Period

2023-10-01 to 2024-09-30

CROSSNORE SCHOOL CHILDRENS FOUNDATION, founded in 2012, is a small nonprofit in the Education sector that reported $841K in total revenue in fiscal year 2023. Revenue fell 81% from the prior year — a significant decline worth monitoring. Expenses of $1.8M exceeded revenue, resulting in a 117% operating deficit.

Mission

THE FOUNDATION PROVIDES FINANCIAL SUPPORT TO CROSSNORE COMMUNITIES FOR CHILDREN THROUGH THE DISTRIBUTION OF INVESTMENT EARNINGS.

Program Service Accomplishments

Program 1

Expenses: $1,711,126 Revenue: $0

THE FOUNDATION PROVIDES FINANCIAL SUPPORT TO CROSSNORE COMMUNITIES FOR CHILDREN THROUGH THE DISTRIBUTION OF INVESTMENT EARNINGS.

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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 $0

Program Service Revenue $0

Investment Income $841,429

Other Revenue $0

TOTAL REVENUE $841,429

Expense Breakdown

Grants Paid $1,711,126

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,711,126

Other Expenses $110,890

TOTAL EXPENSES $1,822,016

Year-over-Year Comparison

	2023	2022	Change
Revenue	$841,429	$4,510,488	-0.8%
Expenses	$1,822,016	$6,022,832	-0.7%
Net Income	$-980,587	$-1,512,344	-0.4%

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

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

$555,862

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TED LAPORTE	CHAIR (AS OF 1/2024)	2.00	Officer Director	$0	$0	$0
JONATHAN BLANCO	CHAIR (THRU 1/23) VICE CHAIR (AS OF 1/24)	4.00	Officer Director	$0	$0	$0
RUSH DICKSON	SECRETARY/TREASURER (AS OF 1/2024)	0.00	Officer Director	$0	$0	$0
DAVID RIGGINS	SECRETARY/TREASURER (THRU 12/2023)	5.00	Officer Director	$0	$0	$0
BICK CARDWELL JR	TRUSTEE	2.00	Director	$0	$0	$0
SARIBETH DOZIER	TRUSTEE	2.00	Director	$0	$0	$0
CATHY FIELDS	TRUSTEE THRU 1/2024	2.00	Director	$0	$0	$0
KELLY GRAVES	TRUSTEE	2.00	Director	$0	$0	$0
CHARLES O IZARD	TRUSTEE	2.00	Director	$0	$0	$0
TED LAPORTE	TRUSTEE	2.00	Director	$0	$0	$0
KATHERYN NORTHINGTON	TRUSTEE	2.00	Director	$0	$0	$0
TRACI ROYSTER	TRUSTEE (AS OF 1/2024)	2.00	Director	$0	$0	$0
VERNER STANLEY	TRUSTEE (THRU 1/2024)	0.00	Director	$0	$0	$0
CHIP WILLIAMSON	TRUSTEE	0.00	Director	$0	$0	$0
WORTH WILLIAMSON	TRUSTEE (THRU 1/2024)	0.00	Director	$0	$0	$0
BRETT LOFTIS	CEO	0.25	Officer	$0	$58,496	$359,675
TERESA HUFFMAN	CHIEF FINANCE OFFICER	0.25	Officer	$0	$17,925	$196,187

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	$841,429	$1,822,016	$40,588,087	$-980,587
2023	$4,510,488	$6,022,832	$36,029,436	$-1,512,344
2022	No data	$10,492,091	$37,541,780	No data
2022	No data	$10,492,091	$37,541,780	No data
2021	$6,567,708	$1,337,288	$47,316,199	$5,230,420
2020	$4,096,023	$1,360,005	$43,874,031	$2,736,018

CROSSNORE SCHOOL CHILDRENS FOUNDATION