The Cypress of Charlotte Club Inc

EIN: 562103741 Housing & Shelter

Charlotte, NC

Total Revenue
$26,035,837
Total Expenses
$25,002,364
Total Assets
$7,628,456
Net Assets
$-3,727,609
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
NC
Phone
7047145500
Tax Period
2024-01-01 to 2024-12-31

The Cypress of Charlotte Club Inc, founded in 1998, is a mid-sized nonprofit in the Housing & Shelter sector that reported $26.0M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $25.0M left a modest 4% surplus.

Mission

THE CYPRESS OF CHARLOTTE CLUB, INC WAS ESTABLISHED AS A NON-PROPIETARY, NON-SHAREHOLDER, NOT-FOR-PROFIT MUTUAL BENEFIT CORPORATION UNDER THE LAWS OF NC, EXCLUSIVELY TO MAINTAIN HOUSING FOR ELDERLY, TO DIRECTLY PROVIDE HEALTHCARE FOR THE PHYSICAL AND MENTAL WELL-BEING OF ITS RESIDENTS, TO PROVIDE FINANCIAL SECURITY FOR ITS RESIDENTS WITH POLICIES PERMITTING RESIDENTS TO REMAIN AT THE CYPRESS EVEN THOUGH THEY MAY RUN OUT OF FUNDS, AND TO OPERATE THE FACILITY AT ITS LOWEST FEASIBLE AND ACCEPTABLE COST.

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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 (2024)

Revenue Breakdown

Contributions & Grants $12,592
Program Service Revenue $25,992,084
Investment Income $31,161
Other Revenue $0
TOTAL REVENUE $26,035,837

Expense Breakdown

Grants Paid $0
Salaries & Benefits $15,905,059
Fundraising Expenses $0
Program Expenses $17,976,743
Other Expenses $9,097,305
TOTAL EXPENSES $25,002,364

Year-over-Year Comparison

2024 2023 Change
Revenue $26,035,837 $23,414,010 +0.1%
Expenses $25,002,364 $23,270,494 +0.1%
Net Income $1,033,473 $143,516 +6.2%
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
5
Independent Members
3
Employees
623
Volunteers
15

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
$136,024
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
James P Coleman VP and Treasurer 5.0
Officer Director
$0 $0 $0
Marc Puntereri President 20.0
Officer Director
$0 $0 $0
Dr Robert Higgins Director 0.3
Director
$0 $0 $0
Michael J Harrison Director 0.3
Director
$0 $0 $0
Michelle Fish Director 0.3
Director
$0 $0 $0
Marty Jensen Executvie Director 40.0
Officer
$0 $0 $0
Terry Payne Director of Finance 40.0
Officer
$124,588 $11,436 $136,024
Evaristo Gustines Director of Food and Beverage 40.0
Highest
$114,818 $10,804 $125,622
Jessica Haynes Director of HR 40.0
Highest
$127,168 $10,916 $138,084
Kelly Simon Director of Home Care 40.0
Highest
$112,500 $12,419 $124,919
Tammy Wilson Director of Nursing 40.0
Highest
$116,168 $12,419 $128,587
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 $26,035,837 $25,002,364 $7,628,456 $1,033,473
2023 $23,414,010 $23,270,494 $7,598,867 $143,516
2022 $25,107,943 $21,158,936 $9,961,254 $3,949,007
2021 $19,033,502 $18,547,964 $4,602,507 $485,538
2020 $19,032,867 $19,004,806 $4,791,592 $28,061
2019 $19,274,530 $18,715,015 $5,689,690 $559,515
2018 $18,071,339 $18,040,598 $5,316,093 $30,741
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