NORTH CAROLINA ASSOCIATION OF LAUNDERERS AND CLEAN (EIN 560492894) - 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

1946

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

NORTH CAROLINA ASSOCIATION OF LAUNDERERS AND CLEAN, founded in 1946, is a small nonprofit that reported $115K in total revenue in fiscal year 2023. Revenue surged 82% from the prior year, signaling strong growth momentum. The organization ran a surplus of $32K, a strong 28% operating margin.

Mission

TO SOLICIT & ENCOURAGE MEMBERSHIP AND PARTICIPATION OF PROFESSIONAL CLEANING AND LAUNDERING SERVICES. TO PROMOTE THE HIGHEST STANDARDS OF BUSINESS PRACTICES. TO SERVE MEMBERS BY PROVIDING LEGISLATIVE AND REGULATORY REPRESENTATION, EDUCATION, TRAINING AND GROUP PROGRAMS.

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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 $41,046

Program Service Revenue $54,739

Investment Income $19,429

Other Revenue $0

TOTAL REVENUE $115,214

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $83,389

Other Expenses $83,389

TOTAL EXPENSES $83,389

Year-over-Year Comparison

	2023	2022	Change
Revenue	$115,214	$63,245	+0.8%
Expenses	$83,389	$93,475	-0.1%
Net Income	$31,825	$-30,230	-2.1%

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

N/A

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WES BRUNSON	DIRECTOR AT LARGE	1.50	Director	$0	$0	$0
GROSHANS JIM	DIRECTOR AT LARGE	1.50	Director	$0	$0	$0
BRIAN HARRELL	DIRECTOR AT LARGE	1.50	Director	$0	$0	$0
DAVID MAKEPEACE	DIRECTOR AT LARGE	1.50	Director	$0	$0	$0
TOM WILSON	DIRECTOR AT LARGE	1.50	Director	$0	$0	$0
COOKI PATEL	DIRECTOR AT LARGE	1.50	Director	$0	$0	$0
RICHARD MOORE	DIRECTOR AT LARGE	1.50	Director	$0	$0	$0
MARVIN THOMAS	DIRECTOR AT LARGE	1.50	Director	$0	$0	$0
HAROLD SMITH	DIRECTOR AT LARGE	1.50	Director	$0	$0	$0
DAVID LEE	DIRECTOR AT LARGE	1.50	Director	$0	$0	$0
LEE LAWSON	DIRECTOR AT LARGE	1.50	Director	$0	$0	$0
KYLE CRUMPTON	DIRECTOR AT LARGE	1.50	Director	$0	$0	$0
KYLE PANTHER	VP ADMINPRES-ELECT	4.00	Officer Director	$0	$0	$0
RON TROY	VP MEMBERSHIP	4.00	Officer Director	$0	$0	$0
JIMMY LEE	TREASURER	4.00	Officer Director	$0	$0	$0
RITA FOLEY	VP GOVERNMENT AFFAIRS	4.00	Officer Director	$0	$0	$0
CHRIS EDWARDS	PRESIDENT	6.00	Officer Director	$0	$0	$0
LARRY HILL	VP EDUCATION & TRAINING	4.00	Officer Director	$0	$0	$0
DAVID KNIGHT	ALLIED TRADE REPRESENTATIVE	4.00	Officer Director	$0	$0	$0
SCOTT LLOYD	SERGEANT AT ARMS	4.00	Officer Director	$0	$0	$0
ALLAN CHEATHAM	IMMEDIATE PAST PRESIDENT	4.00	Officer Director	$0	$0	$0
PATRICK COLLINS	SECRETARY	4.00	Officer Director	$0	$0	$0
PAUL B GOODSON	EXECUTIVE DIRECTOR	30.00	Officer	$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	No data	No data	No data	No data
2023	$115,214	$83,389	$145,326	$31,825
2022	$63,245	$93,475	$112,862	$-30,230
2021	$86,280	$73,777	$143,217	$12,503
2020	$57,666	$59,223	$130,614	$-1,557
2019	$90,538	$85,126	$133,762	$5,412
2019	$90,538	$85,376	$133,762	$5,162
2018	$73,981	$86,740	$126,734	$-12,759

NORTH CAROLINA ASSOCIATION OF LAUNDERERS AND CLEAN