SOUTH RIVER DEVELOPMENT CORPORATION

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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

1997

Legal Domicile

Principal Officer

KIM BYRD

Phone

5409469230

Tax Period

2023-01-01 to 2023-12-31

SOUTH RIVER DEVELOPMENT CORPORATION, founded in 1997, is a community nonprofit in the Human Services sector that reported $1.2M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Net assets of $5.0M represent 49 months of operating reserves.

Mission

DEVELOPMENT AND MANAGEMENT OF SPECIAL NEEDS AND LOW INCOME HOUSING PROJECTS

Program Service Accomplishments

Program 1

Expenses: $978,144 Revenue: $1,217,796

DEVELOPMENT AND MANAGEMENT OF SPECIAL NEEDS AND LOW INCOME HOUSING PROJECTS

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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 $0

Program Service Revenue $1,217,796

Investment Income $8,434

Other Revenue $0

TOTAL REVENUE $1,226,230

Expense Breakdown

Grants Paid $0

Salaries & Benefits $287,768

Fundraising Expenses $0

Program Expenses $978,144

Other Expenses $1,035,799

TOTAL EXPENSES $1,323,567

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,226,230	$1,403,151	-0.1%
Expenses	$1,323,567	$1,347,273	0.0%
Net Income	$-97,337	$55,878	-2.7%

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

$119,369

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARYANN MAUPIN	PRESIDENT	3.00	Officer Director	$0	$0	$0
SPENCER CROSS	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
DAVID BULLOCK	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS REIDER	DIRECTOR	1.00	Director	$0	$0	$0
DR FRANCINE JOHNSTON	DIRECTOR	1.00	Director	$0	$0	$0
CALVIN WOODSON	DIRECTOR	1.00	Director	$0	$0	$0
MARY SCOTT MILLER	DIRECTOR	1.00	Director	$0	$0	$0
DR MARGARET VANHUSS	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY BYRD	EXEC. VP	8.00	Officer	$0	$14,170	$119,369

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	$1,226,230	$1,323,567	$8,279,281	$-97,337
2022	$1,403,151	$1,347,273	$8,422,474	$55,878
2021	$1,724,713	$2,126,052	$8,333,932	$-401,339
2020	$2,224,485	$2,090,993	$8,596,358	$133,492
2019	$1,818,815	$1,995,692	$13,237,508	$-176,877
2018	$1,949,346	$1,707,123	$13,544,897	$242,223