GREATER LAKE CITY ALLIANCE

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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

2015

Legal Domicile

Principal Officer

ROBERT TILTON

Phone

8433740138

Tax Period

2023-01-01 to 2023-12-31

GREATER LAKE CITY ALLIANCE, founded in 2015, is a mid-sized nonprofit in the Community Improvement sector that reported $13.3M in total revenue in fiscal year 2023. Revenue fell 27% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $6.8M, a strong 51% operating margin.

Mission

TO PROVIDE FINANCIAL SUPPORT TO GOVERNMENTAL ENTITIES, SECTION501(C)(3) ORGANIZATIONS, AND OTHER ENTITIES, AS WELL AS TO ENGAGEDIRECTLY IN COMMUNITY AND ECONOMIC DEVELOPMENT ACTIVITIES, THATFURTHER THESE PURPOSES.

Program Service Accomplishments

Program 1

Expenses: $411,794 Revenue: $16,566

PROVIDING FINANCIAL ASSISTANCE TO THE CITY FOR VARIOUS PROJECTS TO ENHANCE THE CITY OF LAKE CITY. PROJECTS INCLUDE, 37 UNIT APARTMENT COMPLEX, THE SITE WORK STARTED IN 2023, CONSULTING SERVICES...

PROVIDING FINANCIAL ASSISTANCE TO THE CITY FOR VARIOUS PROJECTS TO ENHANCE THE CITY OF LAKE CITY. PROJECTS INCLUDE, 37 UNIT APARTMENT COMPLEX, THE SITE WORK STARTED IN 2023, CONSULTING SERVICES PERTAINING TO WATER AND SEWER OF LAKE CITY, AND RE-ZONING OF LAKE CITY.

Program 2

Expenses: $4,163,476 Revenue: $3,593,182

IN 2018 THE ORGANIZATION TOOK OVER THE OPERATIONS OF THE INN WHICH IS THE CORNERSTONE OF DOWNTOWN DEVELOPMENT IN LAKE CITY.THE RV PARK WAS COMPLETED IN 2019, THE RV PARK WAS STARTED TO ALLOWVISITORS TO STAY AND VISIT LAKE CITY. THESE ENDEAVOURS ARE TO CONTINUETHE MISSION OF GREATER LAKE CITY ALLIANCE. GLCA ALSO OPERATES THECROSSROADS HOSPITALITY GROUP WHICH PROVIDES SERVICES AND CHG OPERATESTHE GREEN FROG SOCIAL HOUSE RESTAURANT, SNAX - ICE CREAM SHOP -GLCA CLOSED OPERATIONS AT SNAX IN OCTOBER/NOVEMBER 2023. ANOTHER BUSINESS WAS SLATED TO TAKE OVER THE LEASE AND DID SO IN EARLY 2024, LC BISTRO (RESTAURANT AT THE INN AT THE CROSSROADS). GLCA HAS A PROPERTYMANAGEMENT COMPONENT INVOLVING RENT/LEASE OF OFFICE SPACE AND/ORAPARTMENTS.

Program 3

Expenses: $1,363,039 Revenue: $25,181

THE CONTINUUM CONTINUES OPERATIONS AS A DUAL ENROLLMENT PROGRAM BETWEEN AREA HIGH SCHOOLS, FRANCIS MARION UNIVERSITY AND FLORENCE DARLINGTON TECHNICAL COLLEGE.

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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 $10,209,709

Program Service Revenue $3,628,363

Investment Income $65,068

Other Revenue $-579,040

TOTAL REVENUE $13,324,100

Expense Breakdown

Grants Paid $0

Salaries & Benefits $717,529

Fundraising Expenses $52

Program Expenses $5,938,309

Other Expenses $5,808,809

TOTAL EXPENSES $6,526,338

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,324,100	$18,279,945	-0.3%
Expenses	$6,526,338	$5,789,137	+0.1%
Net Income	$6,797,762	$12,490,808	-0.5%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID E GREEN	DIRECTOR	0.50	Director	$0	$0	$0
ROBERT PHILLIPS	DIRECTOR	0.50	Director	$0	$0	$0
COLLIN ALTMAN	DIRECTOR	0.50	Director	$0	$0	$0
LEE NETTLES	DIRECTOR	0.50	Director	$0	$0	$0
ANNA BURROWN MCCLELLAN	DIRECTOR	0.50	Director	$0	$0	$0
ROBERT TILTON	CHAIR	0.50	Officer	$0	$0	$0
JOETTA FLOYD	SECRETARY	0.50	Officer	$0	$0	$0
HARRY LESESNE	EXECUTIVE DIRECTOR	40.00	Officer	$0	$0	$0
JASON E MORSE	PROJECT MANAGER	40.00	Highest	$173,056	$6,656	$179,712

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	No data	No data	No data	No data
2023	$13,324,100	$6,526,338	$88,351,265	$6,797,762
2022	$18,279,945	$5,789,137	$81,553,645	$12,490,808
2021	$19,968,830	$4,460,326	$96,049,976	$15,508,504
2020	$4,068,172	$4,985,314	$80,430,458	$-917,142
2019	$24,364,379	$6,481,892	$81,242,584	$17,882,487