OPEN CHURCH OF CHARLOTTE

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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

2000

Legal Domicile

Principal Officer

YOON SEOK CHOI

Phone

7048492661

Tax Period

2022-12-01 to 2023-11-30

OPEN CHURCH OF CHARLOTTE, founded in 2000, is a small nonprofit in the Religion sector that reported $594K in total revenue in fiscal year 2022. Expenses of $521K left a modest 12% surplus.

Mission

THE PURPOSE IS TO ADVANCE AND PROMOTE THE WORSHIP OF GOD; ENGAGE IN AND PROMOTE THE STUDY OF THE HOLY SCRIPTURES; ADVANCE THE GOSPEL OF JESUS CHRIST BY PREACHING, EVANGELISM, TEACHING AND THE ADMINISTRATION OF THE ORDINANCES OF THE CHURCH; CREATE AND SUSTAIN CHRISTIAN FELLOWSHIP AS A NURTURING AND DISCIPLINE FUNCTION OF THE CHURCH; PROMOTE THE BIBLICAL PRINCIPLES OF JUSTICE AND RIGHTEOUSNESS IN PERSONAL, SOCIAL, COMMUNITY AND NATIONAL LIFE; CARRY ON THE WORK OF THE CHURCH IN ALL ITS SPIRITUAL, BENEVOLENT, EDUCATIONAL, PHILANTHROPIC, CIVIL AND SOCIAL ASPECTS OF ACTIVITIES; PROMOTE THE SPIRITUAL WELFARE OF ALL PERSONS AND TO DISSEMINATE THE WORD OF GOD TO THE PEOPLE OF ALL NATIONS THROUGH EVANGELISTIC, EDUCATIONAL AND CHARITABLE MISSIONS.

Program Service Accomplishments

Program 1

Expenses: $91,129

MISSION SUPPORT

Program 2

Expenses: $71,512

WORSHIP SERVICE

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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 (2022)

Revenue Breakdown

Contributions & Grants $593,517

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $593,517

Expense Breakdown

Grants Paid $0

Salaries & Benefits $77,801

Fundraising Expenses $0

Program Expenses $162,641

Other Expenses $443,288

TOTAL EXPENSES $521,089

Year-over-Year Comparison

	2022	2021	Change
Revenue	$593,517	N/A	N/A
Expenses	$521,089	N/A	N/A
Net Income	$72,428	N/A	N/A

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

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

$30,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
YOON SEOK CHOI	SENIOR PASTO	40.00	Officer	$30,000	$0	$30,000
HYUN SE LEE	TREASURER	N/A	Officer	$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
2023	$593,517	$521,089	$953,052	$72,428