BIG ROCK FOUNDATION INC

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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

1999

Legal Domicile

Principal Officer

TOMMY BENNETT

Phone

2522473575

Tax Period

2023-11-01 to 2024-10-31

BIG ROCK FOUNDATION INC, founded in 1999, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $418K in total revenue in fiscal year 2023. Revenue fell 73% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $97K, a strong 23% operating margin.

Mission

THE ORGANIZATIONS PRIMARY EXEMPT PURPOSE IS RAISING FUNDS FOR CHARITIES AND WORTHY COMMUNITY PROJECTS TO PROMOTE CONSERVATION AMONG SPORTSFISHERMEN AND PRESERVE MARITIME CULTURE AND HERITAGE WHILE PROMOTING MARINE EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $277,083

THE ORGANIZATION WAS ABLE TO DONATE BACK TO LOCAL CORE CHARITIES $159,690. THESE CHARITIES REPRESENT A DIVERSE GROUP OF ORGANIZATIONS THROUGHOUT CARTERET COUNTY AND NORTH CAROLINA. THE BOYS AND GIRLS CLUB OF THE COASTAL PLAINS WAS OUR LARGEST DONEE FOR FY 2023-2024 AND THE FUNDS RECEIVED BY THE BOYS AND GIRLS CLUB ARE USED TO INSPIRE AND ENABLE ALL YOUNG PEOPLE, ESPECIALLY THOSE WHO NEED THEM MOST, TO REALIZE THEIR FULL POTENTIAL AS PRODUCTIVE, RESPONSIBLE AND CARING CITIZENS. THEY WERE AWARDED $35,000. THE FOUNDATION ALSO AWARDED FUNDS TO CARTERET HEALTH CARE IN THE AMOUNT OF $25,000 AND THESE FUNDS ARE FOR PATIENT COMFORT/CARE DURING CHEMOTHERAPY AND RADIATION TREATMENTS. OTHER ORGANIZATIONS SUCH AS THE EAST CAROLINA BOY SCOUTS AND THE BROAD STREET CLINIC WERE AWARDED $7,500 EACH TO ASSIST WITH THEIR ANNUAL BUDGETING PROGRAMS.

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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 $194,026

Program Service Revenue $0

Investment Income $137,123

Other Revenue $87,147

TOTAL REVENUE $418,296

Expense Breakdown

Grants Paid $159,690

Salaries & Benefits $120,904

Fundraising Expenses $0

Program Expenses $277,083

Other Expenses $40,942

TOTAL EXPENSES $321,536

Year-over-Year Comparison

	2023	2022	Change
Revenue	$418,296	$1,522,401	-0.7%
Expenses	$321,536	$284,275	+0.1%
Net Income	$96,760	$1,238,126	-0.9%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DALE BRITT	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD CROWE	DIRECTOR	1.00	Director	$0	$0	$0
RANDY RAMSEY	DIRECTOR	1.00	Director	$0	$0	$0
CASEY WAGNER	DIRECTOR	1.00	Director	$0	$0	$0
JIM BAILEY	DIRECTOR	1.00	Director	$0	$0	$0
HOWARD BASNIGHT	DIRECTOR	1.00	Director	$0	$0	$0
DEW FORBES	DIRECTOR	1.00	Director	$0	$0	$0
JACK JORDAN	DIRECTOR	1.00	Director	$0	$0	$0
BILLY KORNEGAY	DIRECTOR	1.00	Director	$0	$0	$0
CURTIS STRANGE	DIRECTOR	1.00	Director	$0	$0	$0
ROGER CROWE	DIRECTOR	1.00	Director	$0	$0	$0
LES COLLINS	DIRECTOR	1.00	Director	$0	$0	$0
EMERY IVEY	DIRECTOR	1.00	Director	$0	$0	$0
JOY BELL	VICE PRESIDENT	1.00	Officer	$0	$0	$0
MIKE THOMPSON	TREASURER	1.00	Officer	$0	$0	$0
TOMMY BENNETT	PRESIDENT	1.00	Officer	$0	$0	$0
CAROLINE PETRILLI	SECRETARY	1.00	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
2024	$418,296	$321,536	$5,601,466	$96,760
2023	$1,522,401	$284,275	$5,594,887	$1,238,126
2022	$2,403,434	$202,841	$4,292,311	$2,200,593
2021	$154,426	$544,961	$2,065,987	$-390,535
2020	$381,844	$110,416	$2,456,522	$271,428
2018	$147,356	$58,260	$1,791,983	$89,096