CLOSING THE GAP IN HEALTH CARE INC

EIN: 522450102 501(c)(3) Medical Research

NORTH CHARLESTON, SC

Total Revenue
$195,078
Total Expenses
$285,177
Total Assets
$60,629
Net Assets
$60,476
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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
2004
Legal Domicile
SC
Principal Officer
THADDEUS JOHN BELL
Phone
8435521574
Tax Period
2024-01-01 to 2024-12-31

CLOSING THE GAP IN HEALTH CARE INC, founded in 2004, is a small nonprofit in the Medical Research sector that reported $195K in total revenue in fiscal year 2024. Revenue fell 66% from the prior year — a significant decline worth monitoring. Expenses of $285K exceeded revenue, resulting in a 46% operating deficit.

Mission

PROVIDE HEALTH INFORMATION TO AFRICAN AMERICANS REGARDING HEALTH DISPARITIES AND INCREASE AFRICAN AMERICANS IN THE HEALTH CARE PROFESSION.

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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 $240,493
Program Service Revenue $0
Investment Income $71
Other Revenue $-45,486
TOTAL REVENUE $195,078

Expense Breakdown

Grants Paid $0
Salaries & Benefits $100,366
Fundraising Expenses $13,975
Program Expenses $198,277
Other Expenses $184,811
TOTAL EXPENSES $285,177

Year-over-Year Comparison

2024 2023 Change
Revenue $195,078 $573,915 -0.7%
Expenses $285,177 $477,185 -0.4%
Net Income $-90,099 $96,730 -1.9%
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
8
Independent Members
8
Employees
5
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
2
$73,579
Total Directors
8
$0
Key Employees
2
$73,579
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THADDEUS J BELL PRESIDENT & CEO 35
Officer Key Emp
$50,699 $0 $50,699
GARY E BELL TREASURER 25
Officer Key Emp
$22,880 $0 $22,880
WILLI GLEE CHAIRMAN OF THE BOARD 1
Director
$0 $0 $0
SAMUEL GRISWOLD BOARD MEMBER 1
Director
$0 $0 $0
ARETHA JONES BOARD MEMBER 1
Director
$0 $0 $0
DEAN FLOYD BOARD MEMBER 1
Director
$0 $0 $0
MARGARET MAYS BOARD MEMBER 1
Director
$0 $0 $0
JUANITA MAINOR HARPER BOARD MEMBER 1
Director
$0 $0 $0
MONIQUE BROWN BOARD MEMBER 1
Director
$0 $0 $0
DREW CLAWSON BOARD MEMBER 1
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 $195,078 $285,177 $60,629 $-90,099
2023 $573,915 $477,185 $150,685 $96,730
2022 $474,090 $472,135 $57,930 $1,955
2021 $362,395 $327,477 $70,753 $34,918
2020 $51,449 $167,276 $31,968 $-115,827
2019 $252,715 $253,422 $134,257 $-707
2018 $153,834 $168,216 $135,527 $-14,382
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