Carolina Crown INC

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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

1988

Legal Domicile

Principal Officer

James Coates

Phone

8035472270

Tax Period

2024-01-01 to 2024-12-31

Carolina Crown INC, founded in 1988, is a community nonprofit that reported $3.6M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year.

Mission

Carolina Crown, a premier world-class performing arts organization, is dedicated to enriching communities by inspiring lifelong excellence in young people. We achieve this through exceptional educational and performance opportunities within the performing arts. Our vision is to foster a more vibrant, connected, and compassionate world through the transformative power of the Crown experience. At the heart of this mission is the acclaimed Crown Drum Corps, composed of talented students aged 16 to 22 from across the globe. These young performers come together to create unforgettable moments on the field, traveling nationwide to compete and collaborate with other elite ensembles. Through their captivating performances, the Crown Drum Corps not only showcases the art of marching music but also helps expand and strengthen performing arts communities worldwide.

Program Service Accomplishments

Program 1

Expenses: $2,780,358

The world champion drum and bugle corps consist of student ages sixteen (16) to twenty-two (22) that come from around the world to perform alongside their peers. The corps travels around the nation for tours and to compete against other similar corps. Carolina Crown aims to develop integrity, commitment, respect, and excellence in the rising generation.

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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 (2024)

Revenue Breakdown

Contributions & Grants $603,536

Program Service Revenue $1,350,299

Investment Income $27,178

Other Revenue $1,622,858

TOTAL REVENUE $3,603,871

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,118,642

Fundraising Expenses $20,669

Program Expenses $2,780,358

Other Expenses $2,489,311

TOTAL EXPENSES $3,607,953

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,603,871	$3,944,741	-0.1%
Expenses	$3,607,953	$3,900,666	-0.1%
Net Income	$-4,082	$44,075	-1.1%

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

450

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

$99,463

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Matt Nolan	Board Member	2.00	Director	$0	$0	$0
Don Rawlins	Past Chair	2.00	Officer Director	$0	$0	$0
Nick Annan	Vice Chair	2.00	Officer Director	$0	$0	$0
Dr Antonio Boyd	Board Member	2.00	Officer Director	$0	$0	$0
Brian Rose	Treasurer	2.00	Officer Director	$0	$0	$0
Joe Rosemond	Chair	2.00	Officer Director	$0	$0	$0
Anthony Tang	Board Member	2.00	Director	$0	$0	$0
Steve Tant	Board Member	2.00	Director	$0	$0	$0
Kelsey Bevensee	Secretary	2.00	Director	$0	$0	$0
Bill Loelius	Emeritus	2.00	Director	$0	$0	$0
Doug Madar	Emeritus	2.00	Director	$0	$0	$0
Kevin Smith	President Emeritus	2.00	Director	$0	$0	$0
Jennifer Jablonski	Board Member	2.00	Director	$0	$0	$0
Greg Vaughn	Board Member	2.00	Director	$0	$0	$0
Terrence Williams	Board Member	2.00	Director	$0	$0	$0
Kerry Cordan	Board Member	2.00	Director	$0	$0	$0
Lorri Unumb	Board Member	2.00	Director	$0	$0	$0
LoriAnn Summers	Board Member	2.00	Director	$0	$0	$0
Joe Roach	Executive Director	40.00	Officer	$99,463	$0	$99,463

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	$3,603,871	$3,607,953	$2,799,122	$-4,082
2023	$3,944,741	$3,900,666	$2,893,883	$44,075
2022	$2,937,873	$3,476,493	$2,846,712	$-538,620
2021	$3,188,994	$1,380,789	$3,174,944	$1,808,205
2020	$829,758	$772,308	$1,494,382	$57,450
2019	$2,592,222	$2,660,464	$1,224,676	$-68,242
2018	$2,686,025	$2,683,822	$1,165,177	$2,203