DOWNTOWN ROANOKE INC

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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

Principal Officer

TINA WORKMAN

Phone

5403422028

Tax Period

2024-07-01 to 2025-06-30

DOWNTOWN ROANOKE INC, founded in 1960, is a community nonprofit that reported $1.8M in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Expenses of $2.1M exceeded revenue, resulting in a 14% operating deficit.

Mission

DOWNTOWN ROANOKE, INC - MAKING YOUR DOWNTOWN EXPERIENCE EXCEPTIONAL THROUGH PROGRAMS, MARKETING, EVENTS, ECONOMIC DEVELOPMENT, ADVOCACY AND LEADERSHIP.

Program Service Accomplishments

Program 1

THE ORGANIZATION WAS CHARTERED IN 1960 TO PROVIDE LEADERSHIP AND SUPPORT FOR THE DOWNTOWN AREA, AND TO UNITE ITS CITIZENS WITH A COMMON DESIRE TO PRESERVE THE CHARACTER OF THE PAST WHILE PURSUING...

THE ORGANIZATION WAS CHARTERED IN 1960 TO PROVIDE LEADERSHIP AND SUPPORT FOR THE DOWNTOWN AREA, AND TO UNITE ITS CITIZENS WITH A COMMON DESIRE TO PRESERVE THE CHARACTER OF THE PAST WHILE PURSUING INNOVATIVE DEVELOPMENT PLANS FOR THE FUTURE. THE ORGANIZATION IS THE DOWNTOWN'S PRIMARY ECONOMIC DEVELOPMENT ORGANIZATION IN PARTNERSHIP WITH THE CITY OF ROANOKE, DOWNTOWN PROPERTY OWNERS, AND THE BUSINESS COMMUNITY. THE ORGANIZATION ALSO PROVIDED SPECIFIED SERVICES TO THE CITY AS SET FORTH IN THE TERMS OF THE DOWNTOWN SERVICE DISTRICT (DSD) AGREEMENT BETWEEN THE ORGANIZATION AND THE CITY.

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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 $0

Program Service Revenue $1,811,618

Investment Income $25,270

Other Revenue $0

TOTAL REVENUE $1,836,888

Expense Breakdown

Grants Paid $0

Salaries & Benefits $425,149

Fundraising Expenses $0

Other Expenses $1,671,055

TOTAL EXPENSES $2,096,204

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,836,888	$1,988,465	-0.1%
Expenses	$2,096,204	$2,011,740	+0.0%
Net Income	$-259,316	$-23,275	+10.1%

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

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

$149,152

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TINA WORKMAN	PRESIDENT &	40.00	Officer	$134,632	$14,520	$149,152
MATT PUMO	CHAIR	2.00	Officer Director	$0	$0	$0
NADRA SCOTT	CHAIR ELECT	2.00	Officer Director	$0	$0	$0
BRIAN R WELLS	TREASURER/PA	2.00	Officer Director	$0	$0	$0
TIM BELCHER	SECRETARY	2.00	Officer Director	$0	$0	$0
LARRY JACKSON	BOARD MEMBER	2.00	Director	$0	$0	$0
BILLY SIPLE	BOARD MEMBER	2.00	Director	$0	$0	$0
ERIC SICHAU	BOARD MEMBER	2.00	Director	$0	$0	$0
SHON AGUERO	BOARD MEMBER	2.00	Director	$0	$0	$0
DUKE BALDRIDGE	BOARD MEMBER	2.00	Director	$0	$0	$0
BLAIR GODSEY	BOARD MEMBER	2.00	Director	$0	$0	$0
R NEAL KEESEE JR	BOARD MEMBER	2.00	Director	$0	$0	$0
OLIVIA KING	BOARD MEMBER	2.00	Director	$0	$0	$0
ROBERT LINDSTROM	BOARD MEMBER	2.00	Director	$0	$0	$0
BRIAN MANN	BOARD MEMBER	2.00	Director	$0	$0	$0
CHRIS MICHAEL	BOARD MEMBER	2.00	Director	$0	$0	$0
KATY NEWBERRY	BOARD MEMBER	2.00	Director	$0	$0	$0
TONY PEARMAN	BOARD MEMBER	2.00	Director	$0	$0	$0
RHONDA SHANNON	BOARD MEMBER	2.00	Director	$0	$0	$0
LUCAS THORTON	BOARD MEMBER	2.00	Director	$0	$0	$0
STACIE VEST	BOARD MEMBER	2.00	Director	$0	$0	$0
DANIEL WICKHAM	BOARD MEMBER	2.00	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
2025	$1,836,888	$2,096,204	$1,070,008	$-259,316
2024	$1,988,465	$2,011,740	$1,224,183	$-23,275
2023	$2,420,683	$2,454,595	$1,410,696	$-33,912
2022	$1,484,786	$1,399,036	$1,136,101	$85,750
2021	$1,230,407	$1,008,787	$943,018	$221,620
2020	$1,484,300	$1,332,624	$680,558	$151,676
2019	$1,468,745	$1,412,085	$680,799	$56,660