Downtown Morehead City Inc (EIN 562041447) - 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

1997

Legal Domicile

Tax Period

2023-07-01 to 2024-06-30

Downtown Morehead City Inc, founded in 1997, is a small nonprofit in the Community Improvement sector that reported $190K in total revenue in fiscal year 2023. Expenses of $166K left a modest 12% surplus.

Mission

Downtown Morehead City Incs mission is to promote, foster and help retore downtown Morehead City NC as a destination by fostering a comprehensive and sustainable revitalization process designed to improve all aspects of the downtown.

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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 $116,347

Program Service Revenue $126

Investment Income $0

Other Revenue $73,280

TOTAL REVENUE $189,753

Expense Breakdown

Grants Paid $0

Salaries & Benefits $112,574

Fundraising Expenses $0

Program Expenses $164,131

Other Expenses $53,552

TOTAL EXPENSES $166,126

Year-over-Year Comparison

	2023	2022	Change
Revenue	$189,753	$179,013	+0.1%
Expenses	$166,126	$160,525	+0.0%
Net Income	$23,627	$18,488	+0.3%

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

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Tony Holloway	Past Board Chair	0.10	Director	$0	$0	$0
Chrissy Suralik	Board Member	0.10	Director	$0	$0	$0
Doug Brady	Board Member	0.10	Director	$0	$0	$0
Lori Tulloch	Board Member	0.10	Officer Director	$0	$0	$0
Kayla Brown	Board Chair	0.10	Officer Director	$0	$0	$0
Mark Kelly	Board Member	0.10	Officer Director	$0	$0	$0
Jason Eure	Board Member	0.10	Officer	$0	$0	$0
Kathryn Metts	Exec Director	40.00	Key Emp	$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	$189,753	$166,126	$237,389	$23,627
2023	$179,013	$160,525	$219,778	$18,488
2022	$159,523	$152,293	$202,431	$7,230
2021	$148,022	$146,245	$192,832	$1,777
2020	$169,274	$161,513	$169,306	$7,761
2019	$158,598	$135,861	$221,466	$22,737
2018	$155,678	$112,395	$141,852	$43,283

Downtown Morehead City Inc