Business Expansion Funding Corp

EIN: 561434029 501(c)(3)

Charlotte, NC

Total Revenue
$4,049,362
Total Expenses
$3,713,914
Total Assets
$7,840,079
Net Assets
$5,866,144
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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
1982
Legal Domicile
NC
Principal Officer
Elaine Fairman
Phone
7044143000
Tax Period
2024-10-01 to 2025-09-30

Business Expansion Funding Corp, founded in 1982, is a community nonprofit that reported $4.0M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $3.7M left a modest 8% surplus.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $264,261
Program Service Revenue $3,667,522
Investment Income $117,579
Other Revenue $0
TOTAL REVENUE $4,049,362

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,190,680
Fundraising Expenses $0
Program Expenses $2,987,880
Other Expenses $523,234
TOTAL EXPENSES $3,713,914

Year-over-Year Comparison

2024 2023 Change
Revenue $4,049,362 $3,684,649 +0.1%
Expenses $3,713,914 $3,151,547 +0.2%
Net Income $335,448 $533,102 -0.4%
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

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Governance

Voting Members
11
Independent Members
11
Employees
27
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
4
$314,221
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Elaine Fairman Executive Dir. 50.00
Officer
$286,018 $28,203 $314,221
Louis Rogers III Busines Dev. Off. 54.00
$204,703 $23,048 $227,751
Greg Simmons Busines Dev. Off. 54.00
$184,187 $29,857 $214,044
Cynthia Kiker Closing Manager 50.00
$121,181 $23,792 $144,973
Heather L Newgreen Portfolio Manager 50.00
$114,193 $14,912 $129,105
Joe Mynatt Director 0.50
Director
$0 $0 $0
Kelly Love-Sayasithsena Secretary 0.50
Officer Director
$0 $0 $0
Sheldon Hilaire Director 0.50
Director
$0 $0 $0
Brian Huber Treasurer 0.50
Officer Director
$0 $0 $0
Tim Key Board Chair 1.00
Officer Director
$0 $0 $0
Fernando Ycaza Director 0.50
Director
$0 $0 $0
Thomas McTier Director 0.50
Director
$0 $0 $0
Tamara Bryant Director 0.50
Director
$0 $0 $0
Mitch Sells Director 0.50
Director
$0 $0 $0
Tom Davis Director 0.50
Director
$0 $0 $0
Tracie Sells Director 0.50
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 $4,049,362 $3,713,914 $7,840,079 $335,448
2024 $3,684,649 $3,151,547 $6,948,094 $533,102
2023 $3,841,989 $2,618,652 $6,685,225 $1,223,337
2022 $2,675,636 $2,291,757 $4,493,684 $383,879
2021 $2,336,502 $1,884,129 $3,968,789 $452,373
2020 $1,948,174 $1,806,761 $3,742,585 $141,413
2019 $1,767,043 $1,614,351 $3,037,243 $152,692
2018 $1,629,611 $1,568,420 $2,870,407 $61,191
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