Carolina Voices 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

1954

Legal Domicile

Principal Officer

Peter Leo

Phone

7043741564

Tax Period

2024-07-01 to 2025-06-30

Carolina Voices Inc, founded in 1954, is a small nonprofit in the Arts, Culture & Humanities sector that reported $298K in total revenue in fiscal year 2024. Revenue decreased 14% compared to the prior year.

Mission

Carolina Voices celebrates the power of the human voice to enrich, educate and unite.

Program Service Accomplishments

Program 1

Expenses: $259,607

Concerts by the following choral groups: Mainstage Choir (consists of 75-100 volunteer auditioned singers). Festival Singers (Classical Chamber Choir consisting of 26-32 auditioned singers), and...

Concerts by the following choral groups: Mainstage Choir (consists of 75-100 volunteer auditioned singers). Festival Singers (Classical Chamber Choir consisting of 26-32 auditioned singers), and Impromptu (Elite 10-16 member core of singer/actor/dancers who play "lead" roles in many mainstage choir performances).The number of concerts for each ensemble in FY 2025:MainStage - 2 Concerts (December & May)Festival Singers - 2 Concerts (November & April)Impromptu - 2 Concerts (October & April)We did collaborate with Queen City Performing Arts to present Sing for the Cure in March 2025 of which 26 singers, representing all three ensembles of Carolina Voices, participated.

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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 $156,191

Program Service Revenue $135,499

Investment Income $4,430

Other Revenue $1,567

TOTAL REVENUE $297,687

Expense Breakdown

Grants Paid $0

Salaries & Benefits $88,524

Fundraising Expenses $27,371

Program Expenses $259,607

Other Expenses $229,886

TOTAL EXPENSES $318,410

Year-over-Year Comparison

	2024	2023	Change
Revenue	$297,687	$345,676	-0.1%
Expenses	$318,410	$300,129	+0.1%
Net Income	$-20,723	$45,547	-1.5%

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

$49,646

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Peter Leo	Executive Dir.	40.00	Officer	$49,646	$0	$49,646
Sue Wheldon	Chair	5.00	Officer Director	$0	$0	$0
Stephanie Murray	Treasurer	3.00	Officer Director	$0	$0	$0
Destiny Crawford	Vice Chair	1.00	Officer Director	$0	$0	$0
Andrea Wash	Secretary	1.00	Officer Director	$0	$0	$0
Marguerite Carson	Past Chair	1.00	Officer Director	$0	$0	$0
Vanessa Davis	Board member	1.00	Director	$0	$0	$0
Lisa Lawrence	Board member	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
2025	$297,687	$318,410	$110,663	$-20,723
2024	$345,676	$300,129	$130,967	$45,547
2023	$289,797	$309,113	$85,023	$-19,316
2022	$211,154	$237,855	$114,719	$-26,701
2019	$317,681	$304,572	$66,935	$13,109
2018	$313,669	$312,285	$52,257	$1,384