SOUTH ROME REDEVELOPMENT CORPORATION (EIN 550838185) - Form 990 Financial Analysis & Trantor Score

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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

2002

Legal Domicile

Principal Officer

DAVID WILLIAMS

Phone

7065918339

Tax Period

2024-01-01 to 2024-12-31

SOUTH ROME REDEVELOPMENT CORPORATION, founded in 2002, is a small nonprofit in the Community Improvement sector that reported $122K in total revenue in fiscal year 2024. Revenue fell 66% from the prior year — a significant decline worth monitoring. Expenses of $713K exceeded revenue, resulting in a 483% operating deficit.

Mission

REDEVELOPMENT OF THE SOUTH BROAD STREET AREA OF ROME, GA

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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 $12,498

Program Service Revenue $99,829

Investment Income $10,008

Other Revenue $0

TOTAL REVENUE $122,335

Expense Breakdown

Grants Paid $304,218

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $690,319

Other Expenses $408,551

TOTAL EXPENSES $712,769

Year-over-Year Comparison

	2024	2023	Change
Revenue	$122,335	$357,003	-0.7%
Expenses	$712,769	$145,380	+3.9%
Net Income	$-590,434	$211,623	-3.8%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID WILLIAMS	CHAIR	0.50	Officer Director	$0	$0	$0
JONATHAN LUTTRELL	TREASURER	0.50	Officer Director	$0	$0	$0
JONATHAN HARRIS	BOARD MEMBER	0.50	Director	$0	$0	$0
MATT PEER	BOARD MEMBER	0.50	Director	$0	$0	$0
SCOTT PRESTON	SECRETARY	0.50	Officer Director	$0	$0	$0
STEPHANIE MCCLANAHAN	BOARD MEMBER	0.50	Director	$0	$0	$0
BOBBY JONES	VICE CHAIR	0.50	Officer Director	$0	$0	$0
WILLIAM RICHARDSON	BOARD MEMBER	0.50	Director	$0	$0	$0
MELVIN INGRAM	BOARD MEMBER	0.50	Director	$0	$0	$0
JACKIE JENKINS	BOARD MEMBER	0.50	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	$122,335	$712,769	$203,771	$-590,434
2023	$357,003	$145,380	$794,190	$211,623
2022	$444,233	$280,668	$582,567	$163,565
2021	$519,496	$343,687	$420,924	$175,809
2020	$259,042	$293,383	$925,676	$-34,341
2019	$339,751	$361,485	$860,533	$-21,734
2018	$400,259	$382,731	$978,827	$17,528

SOUTH ROME REDEVELOPMENT CORPORATION