SOUTHERN FINANCE ASSOCIATION

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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

1960

Legal Domicile

Phone

2564536026

Tax Period

2023-01-01 to 2023-12-31

SOUTHERN FINANCE ASSOCIATION, founded in 1960, is a small nonprofit in the Public & Societal Benefit sector that reported $197K in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $344K exceeded revenue, resulting in a 75% operating deficit.

Mission

The Southern Finance Association is an academic association that promotes education and research in the field of Finance through an annual meeting of the membership to present original academic research papers and through the publication of the Journal of Financial Research four times per year.

Program Service Accomplishments

Program 1

Expenses: $247,523 Revenue: $0

The annual meeting of the Southern Finance Association is held in November of each year. In 2023 it brought approximately 300 participants to the meeting to present original academic research papers. The Association has 10 time slots for I concurrent sessions each where 3 or 4 research papers are presented discussed and critiqued during the three days of the meeting. Approximately 250 research papers were presented in 2023. A portion of the above expenses was payment for the annual meeting from 2022.

Program 2

Expenses: $29,583 Revenue: $0

The Southern Finance Association sponsors the Journal of Financial Research in conjunction with the Southwestern Finance Association. The journal is published 4 times per year by Wiley Publishers on behalf of the two associations. The journal is distributed to approximately 650 members of the two associations and to academic libraries worldwide through electronic and print distribution.

Program 3

Expenses: $10,100 Revenue: $0

Outstanding Paper awards

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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 $3,500

Program Service Revenue $95,906

Investment Income $43,060

Other Revenue $54,262

TOTAL REVENUE $196,728

Expense Breakdown

Grants Paid $0

Salaries & Benefits $56,924

Fundraising Expenses $0

Program Expenses $287,206

Other Expenses $287,206

TOTAL EXPENSES $344,130

Year-over-Year Comparison

	2023	2022	Change
Revenue	$196,728	$154,330	+0.3%
Expenses	$344,130	$175,397	+1.0%
Net Income	$-147,402	$-21,067	+6.0%

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

$56,924

Total Directors

Key Employees

$33,816

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ronnie Clayton	Executive Director	10.00	Officer Key Emp Highest	$33,816	$0	$33,816
Walter Reinhart	VP for Finance	5.00	Officer	$22,544	$0	$22,544
Bill Schmidt	VP for Administration	1.00	Officer	$0	$0	$0
Tina Yang	President	5.00	Officer	$0	$0	$0
Melissa Woodley	VP for Operations	1.00	Officer	$0	$0	$0
Kristina Minnick	VP for Operations	1.00	Officer	$0	$0	$0
Honghui Chen	Director	0.00	Officer	$0	$0	$0
Kathleen Fuller	Secretary	1.00	Officer	$564	$0	$564
Michael Highfield	Director	0.00	Officer	$0	$0	$0
Tina Yang	VP for Program	5.00	Officer	$0	$0	$0
Adam Yore	Director	0.00	Officer	$0	$0	$0
Ryan Davis	Director	0.00	Officer	$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	No data	No data	No data	No data
2023	$196,728	$344,130	$1,158,300	$-147,402
2022	$154,330	$175,397	$1,076,096	$-21,067
2021	$150,822	$179,659	$1,365,946	$-28,837
2020	$139,412	$153,168	$1,130,493	$-13,756