ASHEBORO RANDOLPH COUNTY AREA ECONOMIC DEVELOPMENT CORPORATION (EIN 561458493) - 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

Formation Year

1985

Legal Domicile

Principal Officer

KEVIN FRANKLIN

Phone

3366262233

Tax Period

2023-07-01 to 2024-06-30

ASHEBORO RANDOLPH COUNTY AREA ECONOMIC DEVELOPMENT CORPORATION, founded in 1985, is a small nonprofit that reported $699K in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $607K left a modest 13% surplus.

Mission

RECRUITMENT OF VARIOUS INDUSTRIES AND BUSINESSES

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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 $689,819

Program Service Revenue $0

Investment Income $8,784

Other Revenue $0

TOTAL REVENUE $698,603

Expense Breakdown

Grants Paid $0

Salaries & Benefits $393,132

Fundraising Expenses $0

Other Expenses $213,991

TOTAL EXPENSES $607,123

Year-over-Year Comparison

	2023	2022	Change
Revenue	$698,603	$588,206	+0.2%
Expenses	$607,123	$756,176	-0.2%
Net Income	$91,480	$-167,970	-1.5%

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

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

$123,470

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BOB CRUMLEY	PAST CHAIRMAN	1.00	Officer Director	$0	$0	$0
DANIEL MORRIS	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
DAVID RAMSEY	TREASURER/SECRETARY	1.00	Officer Director	$0	$0	$0
FRED SMITH	CHAIR	1.00	Officer Director	$0	$0	$0
GARY BETTS	BOARD MEMBER	0.20	Director	$0	$0	$0
FRANK EDMONSON	BOARD MEMBER	0.20	Director	$0	$0	$0
DARRELL FRYE	MEMBER AT LARGE	0.20	Director	$0	$0	$0
DIANE JAMES	BOARD MEMBER	0.20	Director	$0	$0	$0
RICH MCNABB	BOARD MEMBER	0.20	Director	$0	$0	$0
DALE BRINKLEY	BOARD MEMBER	0.20	Director	$0	$0	$0
KAREN SCOTTON	BOARD MEMBER	0.20	Director	$0	$0	$0
DAVID SMITH	BOARD MEMBER	0.20	Director	$0	$0	$0
FILMORE YORK	BOARD MEMBER	0.20	Director	$0	$0	$0
BAXTER HAMMER	BOARD MEMBER	0.20	Director	$0	$0	$0
HAMPTON SPIVEY	BOARD MEMBER	0.20	Director	$0	$0	$0
TERRY CAVINESS	BOARD MEMBER	0.20	Director	$0	$0	$0
ART MARTINEZ	BOARD MEMBER	0.20	Director	$0	$0	$0
ZEB HOLDEN	BOARD MEMBER	0.20	Director	$0	$0	$0
LEWIS DORSETT	BOARD MEMBER	0.20	Director	$0	$0	$0
DAVID FERNANDEZ	BOARD MEMBER	0.20	Director	$0	$0	$0
CHRIS HARRINGTON	BOARD MEMBER	0.20	Director	$0	$0	$0
AC HURLEY	BOARD MEMBER	0.20	Director	$0	$0	$0
KEVIN FRANKLIN	PRESIDENT	40.00	Officer	$108,336	$15,134	$123,470

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	$698,603	$607,123	$1,181,325	$91,480
2023	$588,206	$756,176	$1,088,175	$-167,970
2022	$546,841	$556,273	$1,255,274	$-9,432
2021	$485,535	$438,871	$1,261,831	$46,664
2020	$449,881	$339,230	$1,215,738	$110,651
2019	$485,215	$408,593	$1,106,331	$76,622

ASHEBORO RANDOLPH COUNTY AREA ECONOMIC DEVELOPMENT CORPORATION