ASHEVILLE AREA CHAMBER OF COMMERCE COMMUNITY BETTERMENT FOUNDATION

EIN: 561762978 501(c)(3) Philanthropy & Grantmaking

ASHEVILLE, NC

Total Revenue
$3,782,364
Total Expenses
$4,013,723
Total Assets
$2,151,279
Net Assets
$1,124,058
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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
1991
Legal Domicile
NC
Principal Officer
KATHRYN CRAMER
Phone
8282586119
Tax Period
2022-07-01 to 2023-06-30

ASHEVILLE AREA CHAMBER OF COMMERCE COMMUNITY BETTERMENT FOUNDATION, founded in 1991, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $3.8M in total revenue in fiscal year 2022. Revenue fell 43% from the prior year — a significant decline worth monitoring.

Mission

DEVELOP AND ACCELERATE GROWTH & EMPLOYMENT OPPORTUNITIES FOR 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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $3,154,301
Program Service Revenue $573,857
Investment Income $21,707
Other Revenue $32,499
TOTAL REVENUE $3,782,364

Expense Breakdown

Grants Paid $491,147
Salaries & Benefits $0
Fundraising Expenses $32,248
Program Expenses $3,981,475
Other Expenses $3,522,576
TOTAL EXPENSES $4,013,723

Year-over-Year Comparison

2022 2021 Change
Revenue $3,782,364 $6,607,474 -0.4%
Expenses $4,013,723 $6,589,290 -0.4%
Net Income $-231,359 $18,184 -13.7%
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
16
Independent Members
16
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
4
$313,550
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JANICE BRUMIT CHAIR 1.00
Officer Director
$0 $0 $0
JOHN F A V CECIL VICE CHAIR 1.00
Officer Director
$0 $0 $0
SUZANNE DEFERIE TREASURER 1.00
Officer Director
$0 $0 $0
BEN HAMRICK BOARD MEMBER 1.00
Director
$0 $0 $0
W LOUIS BISSETTE BOARD MEMBER 1.00
Director
$0 $0 $0
TRACY BUCHANAN BOARD MEMBER 1.00
Director
$0 $0 $0
WILLIAM A V CECIL BOARD MEMBER 1.00
Director
$0 $0 $0
CAROLYN COWARD BOARD MEMBER 1.00
Director
$0 $0 $0
HIMANSHU KARVIR BOARD MEMBER 1.00
Director
$0 $0 $0
MICHAEL MEGUIAR BOARD MEMBER 1.00
Director
$0 $0 $0
ROBERT ROBERTS BOARD MEMBER 1.00
Director
$0 $0 $0
DANA STONESTREET BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN WINKENWERDER BOARD MEMBER 1.00
Director
$0 $0 $0
LAURA WEBB BOARD MEMBER 1.00
Director
$0 $0 $0
AUSTIN WALKER BOARD MEMBER 1.00
Director
$0 $0 $0
TERRI KING BOARD MEMBER 1.00
Director
$0 $0 $0
KATHRYN CRAMER SECRETARY 1.00
Officer
$0 $25,338 $313,550
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 No data No data No data No data
2023 $3,782,364 $4,013,723 $2,151,279 $-231,359
2022 $6,607,474 $6,589,290 $2,704,997 $18,184
2021 $6,471,789 $5,587,769 $2,583,932 $884,020
2020 $508,643 $474,379 $977,915 $34,264
2019 $525,568 $555,955 $1,160,798 $-30,387
2018 $547,269 $383,872 $1,452,168 $163,397
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