CHERRYVILLE COMMUNITY DEVELOPMENT CORPORATION

EIN: 561470584 501(c)(3) Community Improvement

CHERRYVILLE, NC

Total Revenue
$16,077
Total Expenses
$695
Total Assets
$267,797
Net Assets
$267,797
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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
1977
Legal Domicile
NC
Principal Officer
PALMER E HUFFSTETLER SR
Phone
7044353716
Tax Period
2023-10-01 to 2024-09-30

CHERRYVILLE COMMUNITY DEVELOPMENT CORPORATION, founded in 1977, is a micro nonprofit in the Community Improvement sector that reported $16K in total revenue in fiscal year 2023. The organization ran a surplus of $15K, a strong 96% operating margin.

Mission

TO AID, PURSUE AND ENCOURAGE ECONOMIC DEVELOPMENT IN THE CHERRYVILLE, NC AREA.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $16,077
Other Revenue $0
TOTAL REVENUE $16,077

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $695
Other Expenses $695
TOTAL EXPENSES $695

Year-over-Year Comparison

2023 2022 Change
Revenue $16,077 N/A N/A
Expenses $695 N/A N/A
Net Income $15,382 N/A N/A
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
7
Independent Members
7
Employees
N/A
Volunteers
7

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
$0
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
D M PAYSEUR PRESIDENT 1.00
Officer Director
$0 $0 $0
PALMER E HUFFSTETLER SR TREASURER 2.00
Officer Director
$0 $0 $0
BEN BLACKBURN SECRETARY 0.50
Officer Director
$0 $0 $0
TERRY STROUPE VICE PRESIDE 0.50
Officer Director
$0 $0 $0
RICHARD RANDALL BOARD MEMBER 0.50
Director
$0 $0 $0
SUSAN LEWIS BOARD MEMBER 0.50
Director
$0 $0 $0
REGGIE WALKER BOARD MEMBER 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
2024 $16,077 $695 $267,797 $15,382
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