DOWNTOWN WAYNESVILLE ASSOCIATION (EIN 561489920) - 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

TERESA PENNINGTON

Phone

8284563517

Tax Period

2021-01-01 to 2021-12-31

DOWNTOWN WAYNESVILLE ASSOCIATION, founded in 1985, is a small nonprofit that reported $139K in total revenue in fiscal year 2021. Revenue surged 69% from the prior year, signaling strong growth momentum. The organization ran a surplus of $21K, a strong 15% operating margin.

Mission

UNDERTAKING REVITALIZATION ACTIVITIES WITHIN THE MUNCIPIAL SERVICE DISTRICT AND DOWNTOWN AREA OF WAYNESVILLE, NORTH CAROLINA WHILE PRESERVING AND SUSTAINING THE SOCIAL, CULTURAL,ECONOMIC AND HISTORICAL ROLE OF DOWNTOWN AS THE CENTER OF THE COMMUNITY

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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 (2021)

Revenue Breakdown

Contributions & Grants $139,345

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $139,345

Expense Breakdown

Grants Paid $0

Salaries & Benefits $67,776

Fundraising Expenses $0

Program Expenses $25,388

Other Expenses $50,248

TOTAL EXPENSES $118,024

Year-over-Year Comparison

	2021	2020	Change
Revenue	$139,345	$82,516	+0.7%
Expenses	$118,024	$141,952	-0.2%
Net Income	$21,321	$-59,436	-1.4%

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

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

Total Directors

Key Employees

$21,223

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEANETTE PRICE	TREASURER	0.00	Director	$0	$0	$0
TERESA PENNINGTON	PAST PRESIDENT	0.00	Director	$0	$0	$0
JOYCE MASSIE	AT LARGE	0.00	Director	$0	$0	$0
ALEX MCKAY	DESIGN	0.00	Director	$0	$0	$0
TIFFANY LOGAN	PRMOTION	0.00	Director	$0	$0	$0
JON FEICHTER	AT LARGE	0.00	Director	$0	$0	$0
ANTHONY SUTTON	AT LARGE	0.00	Director	$0	$0	$0
JW Kirkpatrick III	Director	0.00	Director	$0	$0	$0
Carolyn Brunk	Chair	0.00	Director	$0	$0	$0
Jonathan Key	Vice Chair	0.00	Director	$0	$0	$0
Olivia Carver	Secretary	0.00	Director	$0	$0	$0
Cynthia Phillips	Executive Director	40.00	Highest	$39,614	$0	$39,614
BETH GILLMORE	INTRUM DIRECTOR	40.00	Key Emp Highest	$21,223	$0	$21,223

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
2021	$139,345	$118,024	No data	$21,321
2020	$82,516	$141,952	$111,818	$-59,436
2019	$155,624	$163,757	$131,422	$-8,133

DOWNTOWN WAYNESVILLE ASSOCIATION