THE WORKING LANDS TRUST INC

EIN: 462913344 501(c)(3) Environment

GOLD HILL, NC

Total Revenue
$1,463,005
Total Expenses
$825,303
Total Assets
$1,528,653
Net Assets
$1,283,104
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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

Principal Officer
MICHAEL FULK
Phone
3364602562
Tax Period
2024-01-01 to 2024-12-31

THE WORKING LANDS TRUST INC is a community nonprofit in the Environment sector that reported $1.5M in total revenue in fiscal year 2024. Revenue fell 65% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $638K, a strong 44% operating margin.

Mission

TO SUSTAIN NORTH CAROLINA'S FOOD AND FIBER SUPPLY - FROM THE APPALACHIANS TO THE OUTER BANKS - THROUGH THE CONSERVATION OF OUR WORKING FARMS AND FORESTS

Program Service Accomplishments

Program 1
Expenses: $712,195

ONGOING PROCUREMENT OF CONSERVATION EASEMENTS TO PRESERVE FARMLAND, SCENIC CORRIDORS, HISTORIC AREAS, IMPORTANT HABITAT AND WATER QUALITY BUFFERS. ONGOING MONITORING OF 20 PLUS CONSERVATION EASEMENTS...

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ONGOING PROCUREMENT OF CONSERVATION EASEMENTS TO PRESERVE FARMLAND, SCENIC CORRIDORS, HISTORIC AREAS, IMPORTANT HABITAT AND WATER QUALITY BUFFERS. ONGOING MONITORING OF 20 PLUS CONSERVATION EASEMENTS COVERING MORE THAN 1,000 ACRES OF PRESERVED LAND

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,451,557
Program Service Revenue $0
Investment Income $11,448
Other Revenue $0
TOTAL REVENUE $1,463,005

Expense Breakdown

Grants Paid $0
Salaries & Benefits $318,047
Fundraising Expenses $1,206
Program Expenses $712,195
Other Expenses $507,256
TOTAL EXPENSES $825,303

Year-over-Year Comparison

2024 2023 Change
Revenue $1,463,005 $4,206,112 -0.7%
Expenses $825,303 $4,166,697 -0.8%
Net Income $637,702 $39,415 +15.2%
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

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Governance

Voting Members
11
Independent Members
11
Employees
5
Volunteers
9

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
5
$94,201
Total Directors
12
$94,201
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL FULK EXECUTIVE DI 40.00
Officer Director
$94,201 $0 $94,201
PHILLIP FARLAND DIRECTOR 0.92
Director
$0 $0 $0
DEWITT HARDEE DIRECTOR 0.00
Director
$0 $0 $0
EDWARD HUNT DIRECTOR 0.92
Director
$0 $0 $0
JACK JORDAN DIRECTOR 0.92
Director
$0 $0 $0
JASMINE LOCKLEAR DIRECTOR 2.31
Director
$0 $0 $0
JESSICA LONG DIRECTOR 0.00
Director
$0 $0 $0
CHESTER LOWDER VICE CHAIR 0.92
Officer Director
$0 $0 $0
MARK MEGALOS BOARD CHAIR 2.31
Officer Director
$0 $0 $0
JAMES NARRON DIRECTOR 0.92
Director
$0 $0 $0
ALLEN PLASTER TREASURER 1.15
Officer Director
$0 $0 $0
MIKKI SAGER SECRETARY 2.31
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
2024 $1,463,005 $825,303 $1,528,653 $637,702
2023 $4,206,112 $4,166,697 $788,415 $39,415
2022 $7,273,261 $7,051,433 $631,961 $221,828
2022 $7,234,620 $181,274 $29,563,536 $7,053,346
2021 $12,071,093 $292,994 $22,486,316 $11,778,099
2020 $2,742,953 $206,893 $10,713,679 $2,536,060
2019 $2,963,639 $204,809 $8,199,154 $2,758,830
2018 $3,836,224 $39,097 $5,397,972 $3,797,127
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