AMERICAN SUBCONTRACTORS ASSOC OF T… - Form 990 Financial Data

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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

1969

Legal Domicile

Principal Officer

DAVID VAN MAANEN

Phone

8036702794

Tax Period

2022-07-01 to 2023-06-30

AMERICAN SUBCONTRACTORS ASSOC OF THE CAROLINAS INC, founded in 1969, is a small nonprofit that reported $124K in total revenue in fiscal year 2022. Revenue fell 39% from the prior year — a significant decline worth monitoring. Expenses of $238K exceeded revenue, resulting in a 92% operating deficit.

Mission

TO IMPROVE THE BUSINESS ENVIRONMENT FOR THE CONSTRUCTION INDUSTRY AND TO SERVE AS A STEWARD FOR THE COMMUNITY; TO PROMOTE THE VALUES OF ASA; TO BECOME A LEADER IN THE CONSTRUCTION INDUSTRY BY REPRESENTING THE INTERESTS OF THE MEMBERSHIP BY DEVELOPING LAWS AND LEGISLATION, AND BY SETTING A STANDARD OF SUPPORT, QUALITY, AND SERVICE TO OUR CUSTOMERS AND COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $208,313 Revenue: $40,740

THE AMERICAN SUBCONTRACTORS ASSOCIATION OF THE CAROLINAS "ASAC" PERFORMS THE FOLLOWING FUNCTIONS FOR THE COMMUNITY:- MAINTAINS A DATABASE OF GENERAL CONTRACTORS THROUGHOUT THE UNITED STATES TO...

THE AMERICAN SUBCONTRACTORS ASSOCIATION OF THE CAROLINAS "ASAC" PERFORMS THE FOLLOWING FUNCTIONS FOR THE COMMUNITY:- MAINTAINS A DATABASE OF GENERAL CONTRACTORS THROUGHOUT THE UNITED STATES TO PROVIDE SUBCONTRACTOR REFERENCES ON PAYMENT PRACTICES, CONTRACT CLAUSES, JOB ORGANIZATION, AND MORE;- PUBLISHES A MONTHLY NEWSLETTER, THE CAROLINA SUBCONTRACTOR, WHICH IS DISTRIBUTED TO ALL MEMBERS AND MANY NON-MEMBER CONSTRUCTION PROFESSIONALS;- HOLDS AN ANNUAL CONVENTION AND TRADE-SHOW FOR THE SUBCONTRACTING INDUSTRY WHICH OFFERS EDUCATIONAL PROGRAMS RELATING TO THE CURRENT BUSINESS CLIMATE AND NETWORKING OPPORTUNITIES;- OFFERS EDUCATIONAL PROGRAMS AND NETWORKING OPPORTUNITIES AT EIGHT CAROLINAS CHAPTER LOCATIONS THROUGH MEETINGS, SEMINARS, AND SOCIAL EVENTS;- PROVIDES FINANCIAL ASSISTANCE TO SUBCONTRACTORS AND SUPPLIERS WHO FACE LAWSUITS IN WHICH THE LEGAL EXPENSES ARE EITHER NOT AFFORDABLE OR ARE EXCESSIVE IN TERMS OF THE AMOUNT OF MONEY IN CONTROVERSY IN THE CASE THROUGH THE ASAC LEGAL ASSISTANCE FUND PROGRAM.- AND WORKS TO PROMOTE LEGISLATION FAVORABLE TO SUBCONTRACTS AND SUPPLIERS IN THE INDUSTRY.

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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 (2022)

Revenue Breakdown

Contributions & Grants $14,800

Program Service Revenue $40,740

Investment Income $1,664

Other Revenue $66,452

TOTAL REVENUE $123,656

Expense Breakdown

Grants Paid $17,500

Salaries & Benefits $47,300

Fundraising Expenses $0

Program Expenses $208,313

Other Expenses $173,107

TOTAL EXPENSES $237,907

Year-over-Year Comparison

	2022	2021	Change
Revenue	$123,656	$202,916	-0.4%
Expenses	$237,907	$187,898	+0.3%
Net Income	$-114,251	$15,018	-8.6%

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

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

$38,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID VAN MAANEN	PRESIDENT	1.00	Officer Director	$0	$0	$0
LANCE DILLON	FIRST VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
BRENT GESLING	SECOND VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MIKE YOUNG	SECRETARY	1.00	Officer Director	$0	$0	$0
ROB JENKINS	TREASURER	1.00	Officer Director	$0	$0	$0
BRIAN JOHNSON	CHAIRMAN	1.00	Officer Director	$0	$0	$0
DUFFY POWERS	STATE COUNCIL	1.00	Officer Director	$0	$0	$0
CHRIS CAFFAREL	DIRECTOR	1.00	Director	$0	$0	$0
ARTHURE DEHAY	DIRECTOR	1.00	Director	$0	$0	$0
MIKE SWEAT	DIRECTOR	1.00	Director	$0	$0	$0
TRIPP WHITESIDES	DIRECTOR	1.00	Director	$0	$0	$0
KELLY DILLON	INTERIM EXECUTIVE DIRECTOR	40.00	Officer	$38,500	$0	$38,500

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
2023	$123,656	$237,907	No data	$-114,251
2022	$202,916	$187,898	$484,918	$15,018
2021	$170,894	$122,770	$412,760	$48,124
2020	$270,435	$203,585	$371,616	$66,850
2019	$209,549	$227,845	$348,079	$-18,296

AMERICAN SUBCONTRACTORS ASSOC OF THE CAROLINAS INC