GASTON BUSINESS ASSOCIATION 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

1913

Legal Domicile

Principal Officer

PATRICK MUMFORD

Phone

7048642621

Tax Period

2024-01-01 to 2024-12-31

GASTON BUSINESS ASSOCIATION INC, founded in 1913, is a community nonprofit that reported $1.0M in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum.

Mission

TO CHAMPION AN ENVIRONMENT FOR HEALTHY ECONOMIC GROWTH AND QUALITY JOB CREATION IN GASTON COUNTY BY REMAINING ACTIVE ON MANY FRONTS, INCLUDING ECONOMIC DEVELOPMENT, REGIONAL INITIATIVES, MEMBERSHIP BENEFITS AND SERVICES, QUALITY OF LIFE, AND BUSINESS ADVOCACY.

Program Service Accomplishments

Program 1

Expenses: $597,148 Revenue: $1,044,273

TO PROMOTE BUSINESS, EDUCATION, AND COMMUNITY DEVELOPMENT IN GASTON COUNTY

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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 $786,637

Program Service Revenue $86,012

Investment Income $2,485

Other Revenue $169,139

TOTAL REVENUE $1,044,273

Expense Breakdown

Grants Paid $0

Salaries & Benefits $699,193

Fundraising Expenses $165,231

Program Expenses $597,148

Other Expenses $442,406

TOTAL EXPENSES $1,141,599

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,044,273	$781,585	+0.3%
Expenses	$1,141,599	$1,043,111	+0.1%
Net Income	$-97,326	$-261,526	-0.6%

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

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

$192,057

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICK MUMFORD	CEO	40.00	Key Emp	$173,627	$18,430	$192,057
ANGEL BAEZ	DIRECTOR	1.00	Director	$0	$0	$0
JEFF BOOKER	DIRECTOR	1.00	Director	$0	$0	$0
ERIC CLAY	PAST CHAIR	2.00	Officer Director	$0	$0	$0
NICOLETTE DAVIS	DIRECTOR	1.00	Director	$0	$0	$0
BRAD DRURY	DIRECTOR	1.00	Director	$0	$0	$0
JOHN FORGAN	DIRECTOR	1.00	Director	$0	$0	$0
RUSTY HARRIS	CHAIR ELECT	2.00	Officer Director	$0	$0	$0
MOSES NEUMAN JR	DIRECTOR	1.00	Director	$0	$0	$0
ROBIN LANG	DIRECTOR	1.00	Director	$0	$0	$0
KERRI MASSEY	CHAIR	3.00	Officer Director	$0	$0	$0
MELIA MAULDIN	DIRECTOR	1.00	Director	$0	$0	$0
JIM MORASSO	SECRETARY	2.00	Officer Director	$0	$0	$0
KEVIN RANDALL	DIRECTOR	1.00	Director	$0	$0	$0
JANET SYTZ	TREASURER	2.00	Officer Director	$0	$0	$0
MARTHA WEGNER	DIRECTOR	1.00	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
2024	$1,044,273	$1,141,599	$316,611	$-97,326
2023	$781,585	$1,043,111	$371,975	$-261,526
2022	$1,072,138	$947,261	$614,028	$124,877
2021	$796,647	$911,170	$346,943	$-114,523
2020	$725,142	$430,460	$465,523	$294,682
2019	$556,543	$570,993	$185,735	$-14,450
2018	$612,308	$602,613	$220,136	$9,695