DOWNTOWN GOLDSBORO DEVELOPMENT CORP (EIN 561142598) - 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

Principal Officer

GRAYSON HUSSEY

Phone

9197354959

Tax Period

2024-07-01 to 2025-06-30

DOWNTOWN GOLDSBORO DEVELOPMENT CORP is a small nonprofit in the Community Improvement sector that reported $472K in total revenue in fiscal year 2024. Revenue surged 125% from the prior year, signaling strong growth momentum. The organization ran a surplus of $315K, a strong 67% operating margin.

Mission

PROVIDE LEADERSHIP DEDICATED TO THE IMPROVEMENT OF DOWNTOWN GOLDSBORO BY CREATING AND FACILITATING DOWNTOWN DEVELOPMENT, PROMOTION AND PRESERVATION ACTIVITIES. STRIVE TO ENHANCE THE APPEARANCE, DESIRABILITY AND VITALITY OF DOWNTOWN GOLDSBORO.

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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 $384,407

Program Service Revenue $47,119

Investment Income $17,441

Other Revenue $23,102

TOTAL REVENUE $472,069

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $156,768

Other Expenses $156,768

TOTAL EXPENSES $156,768

Year-over-Year Comparison

	2024	2023	Change
Revenue	$472,069	$209,884	+1.2%
Expenses	$156,768	$182,300	-0.1%
Net Income	$315,301	$27,584	+10.4%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LIZA GOVAN	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
GRAYSON HUSSEY	PRESIDENT	N/A	Officer Director	$0	$0	$0
ANGELA JACKSON	TREASURER	N/A	Officer Director	$0	$0	$0
DOUG MCGRATH	PAST PRESIDE	N/A	Officer 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	$472,069	$156,768	$1,281,197	$315,301
2024	$209,884	$182,300	$976,534	$27,584
2023	$141,520	$145,979	$962,063	$-4,459
2022	$143,180	$141,737	$976,098	$1,443
2021	$138,368	$99,048	$601,008	$39,320
2020	$203,817	$115,748	$575,982	$88,069
2019	$209,565	$159,381	$503,147	$50,184

DOWNTOWN GOLDSBORO DEVELOPMENT CORP