HICKORY CHORAL SOCIETY

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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

1978

Legal Domicile

Principal Officer

GAIL SUMMER

Phone

8283222210

Tax Period

2023-07-01 to 2024-06-30

HICKORY CHORAL SOCIETY, founded in 1978, is a small nonprofit that reported $248K in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $215K left a modest 13% surplus.

Mission

TO TRANSFORM LIVES THROUGH PERFORMANCE, SUPPORT OF MUSIC EDUCATION, AND THE ADVANCEMENT OF SOCIAL HARMONY IN THE NORTH CAROLINA FOOTHILLS AND BEYOND.

Program Service Accomplishments

Program 1

Expenses: $132,283 Revenue: $79,771

PROVIDE LIVE PERFORMANCES OF CHORAL MUSIC FOR THE GREATER HICKORY AREA AND SUPPORT MUSIC EDUCATION IN AREA PUBLIC SCHOOLS

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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 (2023)

Revenue Breakdown

Contributions & Grants $122,951

Program Service Revenue $79,756

Investment Income $12,873

Other Revenue $31,948

TOTAL REVENUE $247,528

Expense Breakdown

Grants Paid $0

Salaries & Benefits $56,889

Fundraising Expenses $0

Program Expenses $132,283

Other Expenses $157,753

TOTAL EXPENSES $214,642

Year-over-Year Comparison

	2023	2022	Change
Revenue	$247,528	$228,777	+0.1%
Expenses	$214,642	$218,792	0.0%
Net Income	$32,886	$9,985	+2.3%

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

100

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	Role	Reportable Comp	Other Comp	Total
BECCA EASTERLING	DIRECTOR	Director	$0	$0	$0
MARK MCGINNIS	DIRECTOR	Director	$0	$0	$0
TONY IKARD	DIRECTOR	Director	$0	$0	$0
KATE LAWHORN	DIRECTOR	Director	$0	$0	$0
GRANT LOGAN	DIRECTOR	Director	$0	$0	$0
SHARON MILLIGAN	PAST PRESIDENT	Officer	$0	$0	$0
KATHY IVEY	SECRETARY	Officer	$0	$0	$0
TODD DICKERSON	TREASURER	Officer	$0	$0	$0
GAIL SUMMER	PRESIDENT	Officer	$0	$0	$0
MARTY LIGHT	PRESIDENT-ELECT	Officer	$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	No data	No data	No data	No data
2024	$247,528	$214,642	$902,177	$32,886
2023	$228,777	$218,792	$869,030	$9,985
2022	$234,940	$278,424	$859,624	$-43,484
2021	$245,017	$118,782	$906,636	$126,235
2020	$165,220	$133,082	$810,151	$32,138
2019	$137,835	$129,030	$746,004	$8,805
2018	$261,898	$111,314	$730,912	$150,584