Charlotte Area Fund Inc (EIN 566063127) - 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

1963

Legal Domicile

Principal Officer

NICOLAS WHARTON

Phone

7043723010

Tax Period

2024-07-01 to 2025-06-30

Charlotte Area Fund Inc, founded in 1963, is a community nonprofit in the Human Services sector that reported $2.1M in total revenue in fiscal year 2024. Revenue decreased 5% compared to the prior year.

Mission

The Charlotte Area Funds mission, as Meckenburg Countys designated community action agency, is to provide programs and services that assist economically disadvantaged citizens with gaining the skills and abilities necessary to become self-sufficient.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,078,969

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $2,078,969

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,068,366

Fundraising Expenses $0

Program Expenses $1,711,808

Other Expenses $1,122,356

TOTAL EXPENSES $2,190,722

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,078,969	$2,198,058	-0.1%
Expenses	$2,190,722	$2,247,886	0.0%
Net Income	$-111,753	$-49,828	+1.2%

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

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

$121,977

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NICOLAS WHARTON	CEO	40.00	Officer	$121,977	$0	$121,977
DOROTHY COUNTS-SCOGGINS	DIRECTOR	1.00	Officer Director	$0	$0	$0
REGINALD GODETTE	TREASURER	1.00	Officer Director	$0	$0	$0
ABBIE BUTLER	BOARD CHAIR	1.00	Director	$0	$0	$0
ANNIE PEARL ANDERSON	SECRETARY	1.00	Director	$0	$0	$0
PERLINDA GABRIEL	DIRECTOR	1.00	Director	$0	$0	$0
MATTIE MARSHALL	DIRECTOR	1.00	Director	$0	$0	$0
NATHAN CURRIE	VICE CHAIR	1.00	Director	$0	$0	$0
COREY CARTER	DIRECTOR	1.00	Director	$0	$0	$0
DR MELVINE HERRING	DIRECTOR	1.00	Director	$0	$0	$0
LORI BROWN	DIRECTOR	1.00	Director	$0	$0	$0
MARJORIE MOLINA	DIRECTOR	1.00	Director	$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	$2,078,969	$2,190,722	$1,028,192	$-111,753
2024	$2,198,058	$2,247,886	$1,085,374	$-49,828
2024	$2,198,059	$2,247,886	$1,085,375	$-49,827
2023	$2,676,158	$2,645,490	$1,127,749	$30,668
2022	$2,384,758	$2,378,349	$1,319,086	$6,409
2022	$2,384,758	$2,353,562	$1,275,759	$31,196
2021	$3,737,990	$2,774,134	$1,658,422	$963,856
2021	$3,737,990	$2,790,208	$1,658,422	$947,782
2020	$1,745,684	$1,819,631	$802,881	$-73,947
2019	$1,596,817	$1,575,733	$267,803	$21,084
2019	$1,564,301	$1,583,754	$227,215	$-19,453
2018	$1,641,472	$1,639,578	$254,282	$1,894

Charlotte Area Fund Inc