CHILDREN'S MUSEUM OF ALAMANCE COUN… - 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

2007

Legal Domicile

Principal Officer

J PATRICK HARMAN

Phone

3362287997

Tax Period

2024-01-01 to 2024-12-31

CHILDREN'S MUSEUM OF ALAMANCE COUNTY INC, founded in 2007, is a small nonprofit in the Arts, Culture & Humanities sector that reported $420K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $521K exceeded revenue, resulting in a 24% operating deficit.

Mission

ENCOURAGE CHILDREN TO EXERCISE THEIR CURIOSITY, DEVELOP THEIR IMAGINATION, AND EXPLORE

Program Service Accomplishments

Program 1

Expenses: $9,625 Revenue: $190,394

THE MUSEUM'S PROGRAM SERVICES ARE DESIGNED TO EDUCATE CHILDREN AND MAKE LEARNING FUN THROUGH OFFERING WEEKLY AND MONTHLY PROGRAMS, HOSTING BIRTHDAY PARTIES, FACILITY RENTALS AND FIELD TRIPS THAT...

THE MUSEUM'S PROGRAM SERVICES ARE DESIGNED TO EDUCATE CHILDREN AND MAKE LEARNING FUN THROUGH OFFERING WEEKLY AND MONTHLY PROGRAMS, HOSTING BIRTHDAY PARTIES, FACILITY RENTALS AND FIELD TRIPS THAT EDUCATE AND PROMOTE LITERACY CONSISTENT WITH THE NC STANDARD COURSE OF STUDY.

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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 $118,505

Program Service Revenue $190,394

Investment Income $88,809

Other Revenue $22,728

TOTAL REVENUE $420,436

Expense Breakdown

Grants Paid $0

Salaries & Benefits $306,793

Fundraising Expenses $12,635

Program Expenses $431,253

Other Expenses $213,849

TOTAL EXPENSES $520,642

Year-over-Year Comparison

	2024	2023	Change
Revenue	$420,436	$380,865	+0.1%
Expenses	$520,642	$490,486	+0.1%
Net Income	$-100,206	$-109,621	-0.1%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAITLIN BROOKS	DIRECTOR	N/A	Director	$0	$0	$0
MEREDITH CANIPE	SECRETARY	N/A	Officer Director	$0	$0	$0
MICHELE DAVIS	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
REISHA DRUMGOLD	DIRECTOR	N/A	Director	$0	$0	$0
REMONIA ENOCH	TREASURER	N/A	Officer Director	$0	$0	$0
J PATRICK HARMAN	PRESIDENT	N/A	Officer Director	$0	$0	$0
FRANK HARRIS	DIRECTOR	N/A	Director	$0	$0	$0
MARTA MCKENZIE	DIRECTOR	N/A	Director	$0	$0	$0
YAZMIN GARCIA RICO	DIRECTOR	N/A	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	$420,436	$520,642	$3,673,516	$-100,206
2023	$380,865	$490,486	$3,634,820	$-109,621
2022	$373,671	$477,228	$3,585,051	$-103,557
2021	$370,656	$452,664	$4,037,180	$-82,008
2020	$338,451	$426,910	$4,088,339	$-88,459
2019	$439,856	$529,289	$4,068,012	$-89,433
2018	$302,496	$533,456	$4,049,034	$-230,960

CHILDREN'S MUSEUM OF ALAMANCE COUNTY INC