GREATER RALEIGH CHAMBER OF COMMERC… - Form 990 Financial Data

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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

1984

Legal Domicile

Principal Officer

ADRIENNE H COLE

Phone

9196647012

Tax Period

2023-10-01 to 2024-09-30

GREATER RALEIGH CHAMBER OF COMMERCE COMMUNITY DEVELOPMENT FOUNDATION, founded in 1984, is a small nonprofit that reported $905K in total revenue in fiscal year 2023. Revenue surged 46% from the prior year, signaling strong growth momentum. Expenses of $817K left a modest 10% surplus.

Mission

CIVIC BETTERMENT AND ECONOMIC DEVELOPMENT

Program Service Accomplishments

Program 1

Expenses: $238,638

SUPPORT TOWARDS RALEIGH ECONOMIC DEVELOPMENT THROUGH THE EDGE PROGRAM

Program 2

Expenses: $215,635 Revenue: $428,350

LEADERSHIP RALEIGH - CONNECTS A DIVERSE NETWORK OF COMMUNITY LEADERS BY PROVIDING ENHANCED LEADERSHIP SKILLS AND KNOWLEDGE OF CURRENT ISSUES TO FOSTER MEANINGFUL AND LASTING ENGAGEMENT. PARTICIPANTS HAVE THE OPPORTUNITY TO ENGAGE WITH LOCAL BUSINESS EXECUTIVES, COMMUNITY LEADERS, AND ELECTED OFFICIALS; LEARN ABOUT OUR COMMUNITY THROUGH UNIQUE TOURS AND BEHIND-THE-SCENES EXPERIENCES; AND PARTICIPATE IN SMALL GROUP PROJECTS THAT EXPLORE CRITICAL COMMUNITY ISSUES.EMERGING LEADERS - DEVELOPS AND EXPANDS THE CAPACITY OF TOMORROW'S LEADERS. PARTICIPANTS HAVE THE OPPORTUNITY TO ENHANCE THEIR LEADERSHIP SKILLS BY LEARNING FROM OTHERS; IMPROVE AWARENESS OF WHAT IT TAKES TO LEAD AND SUCCEED; INTERACT WITH COMMUNITY AND BUSINESS LEADERS IN A SMALL GROUP-SETTING; AND STRENGTHEN THEIR NETWORK BY CONNECTING WITH PEERS WHO HAVE SIMILAR GOALS.

Program 3

Expenses: $276,750 Revenue: $39,000

OTHER PROGRAM SERVICES FOR CIVIC BETTERMENT AND ECONOMIC DEVELOPMENT

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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 $393,490

Program Service Revenue $467,350

Investment Income $22,578

Other Revenue $21,960

TOTAL REVENUE $905,378

Expense Breakdown

Grants Paid $110,250

Salaries & Benefits $64,384

Fundraising Expenses $0

Program Expenses $731,023

Other Expenses $642,845

TOTAL EXPENSES $817,479

Year-over-Year Comparison

	2023	2022	Change
Revenue	$905,378	$619,235	+0.5%
Expenses	$817,479	$605,431	+0.4%
Net Income	$87,899	$13,804	+5.4%

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

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

$399,994

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DELISA ALEXANDER	MEMBER	2.00	Director	$0	$0	$0
ERNIE BOVIO	TREASURER	2.00	Director	$0	$0	$0
DAN CAHILL	CHAIR	2.00	Director	$0	$0	$0
JACK CLAYTON	MEMBER	2.00	Director	$0	$0	$0
GARY GREENE	CHAIR-ELECT	2.00	Director	$0	$0	$0
RICK GUIRLINGER	MEMBER	2.00	Director	$0	$0	$0
RUSSELL KILLEN	GENERAL COUNSEL	2.00	Director	$0	$0	$0
SUZIE KOONCE	MEMBER	2.00	Director	$0	$0	$0
BRIAN LEARY	MEMBER	2.00	Director	$0	$0	$0
REBECCA QUINN-WOLF	MEMBER	2.00	Director	$0	$0	$0
CHARLES ROYAL	FOUNDATION CHAIR	2.00	Officer Director	$0	$0	$0
SHAN TEEL	MEMBER	2.00	Director	$0	$0	$0
PAT WILKINS	MEMBER	2.00	Director	$0	$0	$0
GEORGE YORK	MEMBER	2.00	Director	$0	$0	$0
ADRIENNE COLE	PRESIDENT	8.00	Officer	$0	$33,000	$399,994
JANET POTTER	GENERAL MGR./SENIOR VP	8.00	Highest	$0	$19,641	$216,048
MICHAEL HALEY	SENIOR VP OF ECON. DEV.	5.00	Highest	$0	$17,936	$197,299

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	$905,378	$817,479	$977,857	$87,899
2023	$619,235	$605,431	$814,171	$13,804
2022	$574,129	$426,486	$605,220	$147,643
2021	$395,521	$352,902	$457,577	$42,619
2020	$199,081	$195,094	$414,958	$3,987
2019	$183,545	$328,879	$410,971	$-145,334
2018	$386,768	$345,688	$556,305	$41,080

GREATER RALEIGH CHAMBER OF COMMERCE COMMUNITY DEVELOPMENT FOUNDATION