SOUTHEASTERN NORTH CAROLINA COMMUN… - Form 990 Financial Data

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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

Principal Officer

KELVIN MACKLIN

Phone

2529773141

Tax Period

2023-01-01 to 2023-12-31

SOUTHEASTERN NORTH CAROLINA COMMUNITY DEVELOPMENT CORP, founded in 1997, is a small nonprofit in the Housing & Shelter sector that reported $383K in total revenue in fiscal year 2023. Revenue fell 39% from the prior year — a significant decline worth monitoring. Expenses of $1.3M exceeded revenue, resulting in a 243% operating deficit.

Mission

TO PROMOTE AND DEVELOP AFFORDABLE HOUSING AND RELATED SERVICES FOR QUALIFIED HOME BUYERS AND RESIDENTS IN THE ROCKY MOUNT COMMUNITY

Program Service Accomplishments

Program 1

Expenses: $1,165,303 Revenue: $249,387

TO PROMOTE AND DEVELOP AFFORDABLE HOUSING AND RELATED SERVICES FOR QUALIFIED HOME BUYERS AND RESIDENTS IN THE ROCKY MOUNT 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $133,790

Program Service Revenue $244,214

Investment Income $5,173

Other Revenue $0

TOTAL REVENUE $383,177

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,165,303

Other Expenses $1,315,125

TOTAL EXPENSES $1,315,125

Year-over-Year Comparison

	2023	2022	Change
Revenue	$383,177	$626,800	-0.4%
Expenses	$1,315,125	$531,041	+1.5%
Net Income	$-931,948	$95,759	-10.7%

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

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

$138,131

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KELLY SHORE	VICE CHAIRPERSON	0.05	Officer Director	$0	$0	$0
LEA HENRY	DIRECTOR	0.05	Director	$0	$0	$0
BRENDA CUTCHIN	DIRECTOR	0.05	Director	$0	$0	$0
GLORIA WIGGINS-HICK	DIRECTOR	0.05	Director	$0	$0	$0
GLORIA VALENTINE-DAVIS	DIRECTOR	0.05	Director	$0	$0	$0
NANCY BULLARD	DIRECTOR	0.05	Director	$0	$0	$0
CATHERINE HENDERSON	DIRECTOR	0.05	Director	$0	$0	$0
TED LORD	DIRECTOR	0.05	Director	$0	$0	$0
KELVIN MACKLIN	SECRETARY-TREASURER	2.00	Officer	$0	$8,809	$138,131

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	$383,177	$1,315,125	$6,487,839	$-931,948
2022	$626,800	$531,041	$5,154,866	$95,759
2021	$307,040	$486,042	$3,467,979	$-179,002
2020	$189,457	$450,517	$3,151,862	$-261,060
2019	$360,959	$490,040	$3,336,352	$-129,081
2018	$153,859	$296,914	$3,090,566	$-143,055

SOUTHEASTERN NORTH CAROLINA COMMUNITY DEVELOPMENT CORP