NORTH CAROLINA PRESS ASSOCIATION

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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

1995

Legal Domicile

Principal Officer

PHIL LUCEY

Phone

9195168015

Tax Period

2024-08-01 to 2025-07-31

NORTH CAROLINA PRESS ASSOCIATION, founded in 1995, is a small nonprofit that reported $144K in total revenue in fiscal year 2024. Revenue fell 52% from the prior year — a significant decline worth monitoring. Expenses of $321K exceeded revenue, resulting in a 123% operating deficit.

Mission

TO PROMOTE COMMUNICATION

Program Service Accomplishments

Program 1

Expenses: $232,547 Revenue: $56,301

ALL MEMBERS ARE INFORMED OF ACTIVITIES WITHIN THE NEWSPAPER ADVERTISING INDUSTRY AND WITHIN THEIR ASSOCIATION. A NEWSPAPER IS PUBLISHED. CONFERENCES AND CONTESTS ARE HELD THROUGOUT THE YEAR TO...

ALL MEMBERS ARE INFORMED OF ACTIVITIES WITHIN THE NEWSPAPER ADVERTISING INDUSTRY AND WITHIN THEIR ASSOCIATION. A NEWSPAPER IS PUBLISHED. CONFERENCES AND CONTESTS ARE HELD THROUGOUT THE YEAR TO STIMULATE INTEREST IN ADVERTISING.

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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 $197,716

Program Service Revenue $56,301

Investment Income $30,126

Other Revenue $-140,323

TOTAL REVENUE $143,820

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $232,547

Other Expenses $320,636

TOTAL EXPENSES $320,636

Year-over-Year Comparison

	2024	2023	Change
Revenue	$143,820	$297,271	-0.5%
Expenses	$320,636	$372,134	-0.1%
Net Income	$-176,816	$-74,863	+1.4%

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

$113,119

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PHIL LUCEY	EXECUTIVE DI	0.00	Officer	$0	$0	$113,119
KEVEN ZEPEZAUER	PRESIDENT	1.00	Director	$0	$0	$0
SCOTT CHAMPION	DIRECTOR	1.00	Director	$0	$0	$0
MORGAN HARPER	VICE PRESIDE	1.00	Director	$0	$0	$0
GENE FOWLER	PAST PRESIDE	1.00	Director	$0	$0	$0
JUSTIN SMITH	DIRECTOR	1.00	Director	$0	$0	$0
TREVOR DUNNELL	DIRECTOR	1.00	Director	$0	$0	$0
JOHN CARR	DIRECTOR	1.00	Director	$0	$0	$0
AFRIQUE KILMANJARO	DIRECTOR	1.00	Director	$0	$0	$0
DAVID WORONOFF	DIRECTOR	1.00	Director	$0	$0	$0
SHERRY JONES	DIRECTOR	1.00	Director	$0	$0	$0
KYLE STEPHENS	DIRECTOR	1.00	Director	$0	$0	$0
DIMON KENDRICK-HOLMES	DIRECTOR	1.00	Director	$0	$0	$0
MARIA HOUSE	DIRECTOR	1.00	Director	$0	$0	$0
NANCY BAKER	SEC/TREASURE	1.00	Director	$0	$0	$0
TAYLOR BATTEN	DIRECTOR	1.00	Director	$0	$0	$0
SOUGATA MUKHERJEE	DIRECTOR	1.00	Director	$0	$0	$0
JOHN BUSSIAN	DIRECTOR	1.00	Director	$0	$0	$0
MIKE TADYCH	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
2025	$143,820	$320,636	$1,292,397	$-176,816
2024	$297,271	$372,134	$1,519,001	$-74,863
2023	$156,264	$320,687	$1,543,485	$-164,423
2022	$222,552	$284,370	$1,738,561	$-61,818
2021	$459,342	$346,341	$1,872,462	$113,001
2020	$312,597	$335,785	$1,400,392	$-23,188
2019	$294,183	$311,979	$1,118,854	$-17,796
2018	$475,886	$361,910	$1,108,801	$113,976