CABARRUS ECONOMIC DEVELOPMENT INC (EIN 561513284) - 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

MIKE LEGG

Phone

7047824000

Tax Period

2023-07-01 to 2024-06-30

CABARRUS ECONOMIC DEVELOPMENT INC, founded in 1985, is a small nonprofit that reported $786K in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $897K exceeded revenue, resulting in a 14% operating deficit.

Mission

COMMUNITY 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 $0

Program Service Revenue $780,490

Investment Income $5,378

Other Revenue $0

TOTAL REVENUE $785,868

Expense Breakdown

Grants Paid $0

Salaries & Benefits $463,333

Fundraising Expenses $0

Program Expenses $756,908

Other Expenses $433,464

TOTAL EXPENSES $896,797

Year-over-Year Comparison

	2023	2022	Change
Revenue	$785,868	$698,355	+0.1%
Expenses	$896,797	$753,850	+0.2%
Net Income	$-110,929	$-55,495	+1.0%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LLOYD PAYNE	BOARD MEMBER	0.50	Director	$0	$0	$0
MIKE LEGG	TREASURER	1.00	Officer Director	$0	$0	$0
MIKE DOWNS	SECRETARY	1.00	Officer Director	$0	$0	$0
DOUG PARIS	BOARD MEMBER	0.50	Director	$0	$0	$0
RANDY HOLLOWAY	BOARD MEMBER	0.50	Director	$0	$0	$0
STEVE FISHER	VICE CHAIR	0.50	Officer Director	$0	$0	$0
MICHAEL WILSON	BOARD MEMBER	0.50	Director	$0	$0	$0
GREG WALTER	PAST CHAIR	0.50	Director	$0	$0	$0
SHAREE CARTER	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
JAY EAVES	BOARD MEMBER	0.50	Director	$0	$0	$0
ROB DONHAM	BOARD MEMBER	0.50	Director	$0	$0	$0
DONNA CARPENTER	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
2025	No data	No data	No data	No data
2024	$785,868	$896,797	$844,380	$-110,929
2023	$698,355	$753,850	$930,067	$-55,495
2022	$866,942	$581,063	$973,565	$285,879
2021	$748,631	$680,627	$597,044	$68,004
2020	$714,466	$718,710	$552,832	$-4,244
2019	$714,473	$628,530	$567,331	$85,943
2018	$693,862	$662,365	$510,033	$31,497

CABARRUS ECONOMIC DEVELOPMENT INC