IRENE WORTHAM CENTER INC

EIN: 560733452 501(c)(3)

ASHEVILLE, NC

Total Revenue
$4,771,388
Total Expenses
$4,833,558
Total Assets
$4,089,637
Net Assets
$3,723,977
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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
1962
Legal Domicile
NC
Principal Officer
CHAD WHITTEMORE
Phone
8282747518
Tax Period
2023-07-01 to 2024-06-30

IRENE WORTHAM CENTER INC, founded in 1962, is a community nonprofit that reported $4.8M in total revenue in fiscal year 2023. Revenue surged 29% from the prior year, signaling strong growth momentum.

Mission

THE IRENE WORTHAM CENTER, ALONG WITH IRENE WORTHAM RESIDENTIAL CENTER, DELIVER COMPREHENSIVE, QUALITY RESIDENTIAL AND DAY SERVICES IN A CARING ATMOSPHERE FOR INDIVIDUALS WITH SEVERE AND PROFOUND DISABILITIES.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $839,360
Program Service Revenue $3,820,430
Investment Income $83,590
Other Revenue $28,008
TOTAL REVENUE $4,771,388

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,007,349
Fundraising Expenses $0
Program Expenses $3,729,076
Other Expenses $1,826,209
TOTAL EXPENSES $4,833,558

Year-over-Year Comparison

2023 2022 Change
Revenue $4,771,388 $3,690,766 +0.3%
Expenses $4,833,558 $4,177,880 +0.2%
Net Income $-62,170 $-487,114 -0.9%
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

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Governance

Voting Members
10
Independent Members
10
Employees
187
Volunteers
50

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
5
$147,012
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LAURA BROWN DIRECTOR 1.50
Director
$0 $0 $0
MICKEY DALE DIRECTOR 1.50
Director
$0 $0 $0
WES MCCALL DIRECTOR 1.50
Director
$0 $0 $0
JEFF HICKS DIRECTOR 1.50
Director
$0 $0 $0
DEXTER HAZEL DIRECTOR 1.50
Director
$0 $0 $0
RHYNA SIMMERS DIRECTOR 1.50
Director
$0 $0 $0
DR LARRY FISHER SECRETARY 1.50
Officer Director
$0 $0 $0
CHAD WHITTEMORE TREASURER 1.50
Officer Director
$0 $0 $0
JASON GAST VICE-CHAIR 1.50
Officer Director
$0 $0 $0
RITA MADDUX CHAIR 1.50
Officer Director
$0 $0 $0
MATTHEW HENRY PRESIDENT & CEO 20.00
Officer
$71,065 $4,882 $147,012
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 No data No data No data No data
2024 $4,771,388 $4,833,558 $4,089,637 $-62,170
2023 $3,690,766 $4,177,880 $4,076,111 $-487,114
2022 $4,331,071 $3,791,720 $4,560,913 $539,351
2021 $4,214,016 $3,454,807 $4,209,411 $759,209
2020 $3,455,235 $3,503,303 $4,059,578 $-48,068
2019 $3,138,498 $3,260,708 $3,434,039 $-122,210
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