North Carolina Arts Foundation (EIN 463987880) - 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

2013

Legal Domicile

Principal Officer

Michael Lowder

Phone

9194120751

Tax Period

2024-07-01 to 2025-06-30

North Carolina Arts Foundation, founded in 2013, is a community nonprofit in the Unknown sector that reported $2.4M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $973K, a strong 41% operating margin.

Mission

Collaborate with individuals, arts and cultural organizations, other foundations and businesses, and the North Carolina Arts Council to support arts programs that have proven public value and are statewide or regional in scope.

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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 $2,215,134

Program Service Revenue $5,000

Investment Income $138,364

Other Revenue $878

TOTAL REVENUE $2,359,376

Expense Breakdown

Grants Paid $902,500

Salaries & Benefits $120,000

Fundraising Expenses $0

Program Expenses $1,203,546

Other Expenses $363,996

TOTAL EXPENSES $1,386,496

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,359,376	$2,101,079	+0.1%
Expenses	$1,386,496	$619,417	+1.2%
Net Income	$972,880	$1,481,662	-0.3%

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

$120,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
John Willingham	President	1.00	Officer Director	$0	$0	$0
Marla Adams	Director	0.50	Officer Director	$0	$0	$0
Chad Cheek	Director	1.00	Director	$0	$0	$0
Joe Logan	Director	0.25	Director	$0	$0	$0
Henry Walston	Director	0.25	Director	$0	$0	$0
Stephen Hill	Ex Officio	0.25	Director	$0	$0	$0
Beverly Nipper Bowles	Director	0.50	Officer Director	$0	$0	$0
Davy Arch	Director	0.25	Director	$0	$0	$0
Suzanne Fetscher	Director	1.00	Director	$0	$0	$0
Michael Lowder	Director	1.00	Director	$0	$0	$0
John Mitchell	Director	0.25	Director	$0	$0	$0
Patrick Sims	Director	0.25	Director	$0	$0	$0
Wayne Martin	Executive Director	40.00	Officer	$120,000	$0	$120,000

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	$2,359,376	$1,386,496	$3,462,881	$972,880
2024	$2,101,079	$619,417	$2,342,823	$1,481,662
2023	$262,471	$698,168	$718,228	$-435,697
2022	$757,398	$557,144	$1,142,667	$200,254
2021	$567,690	$473,123	$942,413	$94,567
2019	$639,196	$472,096	$1,006,384	$167,100

North Carolina Arts Foundation