NORTH CAROLINA CHAMBER FOUNDATION

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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

1995

Legal Domicile

Principal Officer

GARY J SALAMIDO

Phone

9198361400

Tax Period

2023-01-01 to 2023-12-31

NORTH CAROLINA CHAMBER FOUNDATION, founded in 1995, is a community nonprofit in the Mental Health sector that reported $2.7M in total revenue in fiscal year 2023. The organization ran a surplus of $1.0M, a strong 37% operating margin.

Mission

THE PURPOSE AND MISSION OF THE ORGANIZATION IS TO PROMOTE THE SOCIAL WELFARE OF THE STATE OF NORTH CAROLINA AND ITS CITIZENS BY IDENTIFYING, INVESTIGATING, STUDYING, RESEARCHING, AND ANALYZING IN A NONPARTISAN MANNER THE FACTORS THAT ENHANCE THE BUSINESS CLIMATE, WORKFORCE DEVELOPMENT, AND QUALITY OF LIFE OF THE STATE, INCLUDING THE PROSPECTS FOR THE CREATION AND RETENTION OF JOBS FOR THE STATE'S CITIZENS, AND EDUCATING AND INSTRUCTING THE BUSINESS COMMUNITY AND GENERAL PUBLIC BY DISSEMINATING AND PUBLISHING THE KNOWLEDGE GAINED AS A RESULT OF THOSE ACTIVITIES. THE ORGANIZATION WILL NOT DIRECT ITS EFFORTS OR EXPEND FUNDS IN MAKING ANY LEGISLATIVE RECOMMENDATIONS, PREPARING PROSPECTIVE LEGISLATION, OR CONTACTING LEGISLATORS OR OTHER ELECTED OFFICIALS FOR THE PURPOSE OF INFLUENCING LEGISLATION.

Program Service Accomplishments

Program 1

Expenses: $1,286,688

PROACTIVELY DELIVER PRO-BUSINESS SOLUTIONS FOR NORTH CAROLINA'S MOST DAUNTING ECONOMIC CHALLENGES TO EFFECTIVELY PRODUCE MEANINGFUL OUTCOMES. DRIVE IMPLEMENTATION OF "NORTH CAROLINA VISION 2030 - A PLAN FOR ACCELERATING JOB GROWTH AND SECURING NORTH CAROLINA'S FUTURE," DEVELOPED WITH THE INVOLVEMENT OF TOP NORTH CAROLINA BUSINESS LEADERS, LOCAL CHAMBERS OF COMMERCE AND KEY STAKEHOLDERS. PROMOTE ACCOUNTABILITY, TRANSPARENCY AND CLEAR METRICS KEY FOR MEASURING PROGRESS THATIS ACCESSIBLE TO CITIZENS, POLITICIANS, ASSOCIATIONS, UNIVERSITIES AND ANYONE WHO HAS AN INTERNET- ENABLED DEVICE.

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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 $2,697,341

Program Service Revenue $0

Investment Income $-11,108

Other Revenue $0

TOTAL REVENUE $2,686,233

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,286,688

Other Expenses $1,685,045

TOTAL EXPENSES $1,685,045

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,686,233	$-12,968	-208.1%
Expenses	$1,685,045	$765,454	+1.2%
Net Income	$1,001,188	$-778,422	-2.3%

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

$308,996

Total Directors

$1,020,114

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GARY J SALAMIDO	BOARD MEMBER	1.00	Director	$0	$22,735	$711,118
MEREDITH ARCHIE	PRESIDENT	36.50	Officer Director	$0	$16,779	$199,504
AMY FOWLER	TREASURER	7.50		$0	$10,019	$128,155
JANEL BOYD	SECRETARY	1.00	Officer Director	$0	$11,973	$109,492
LAURA BUNN	TREASURER	7.50	Officer Director	$0	$0	$0
JIM HANSEN	BOARD MEMBER	1.00	Director	$0	$0	$0
D RUSSELL HARRIS	BOARD MEMBER	1.00	Director	$0	$0	$0
DALE JENKINS	BOARD MEMBER	1.00	Director	$0	$0	$0
FRANK B HOLDING JR	CHAIR	1.00	Officer Director	$0	$0	$0
CHARMAINE RIGGINS	BOARD MEMBER	1.00	Director	$0	$0	$0
SEPIDEH SAIDI	BOARD MEMBER	1.00	Director	$0	$0	$0
STEPHEN C SCOTT	BOARD MEMBER	1.00	Director	$0	$0	$0
JULE SMITH	BOARD MEMBER	1.00	Director	$0	$0	$0
TUNDE SOTUNDE	BOARD MEMBER	1.00	Director	$0	$0	$0
DEREK B STEED	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID H WEAVER	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT WOMBLE	BOARD MEMBER	1.00	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
2024	No data	No data	No data	No data
2023	$2,686,233	$1,685,045	$5,545,570	$1,001,188
2022	$-12,968	$765,454	$3,636,911	$-778,422
2021	$1,221,482	$660,218	$5,209,130	$561,264
2020	$1,342,557	$827,516	$5,037,047	$515,041
2019	$370,333	$622,475	$4,223,438	$-252,142
2018	$747,243	$711,950	$3,675,354	$35,293