Spartanburg County Foundation (EIN 570351398) - 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

1943

Legal Domicile

Phone

8645820138

Tax Period

2024-01-01 to 2024-12-31

Spartanburg County Foundation, founded in 1943, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $48.6M in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year. The organization ran a surplus of $8.8M, a strong 18% operating margin.

Mission

The Spartanburg County Foundation is committed to improving the lives of Spartanburg County residents by promoting philanthropy, encouraging community engagement, and responding to community needs.

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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 $42,476,187

Program Service Revenue $0

Investment Income $3,452,246

Other Revenue $2,635,357

TOTAL REVENUE $48,563,790

Expense Breakdown

Grants Paid $34,908,855

Salaries & Benefits $1,709,573

Fundraising Expenses $161,129

Program Expenses $35,806,009

Other Expenses $3,148,651

TOTAL EXPENSES $39,767,079

Year-over-Year Comparison

	2024	2023	Change
Revenue	$48,563,790	$54,208,519	-0.1%
Expenses	$39,767,079	$33,170,987	+0.2%
Net Income	$8,796,711	$21,037,532	-0.6%

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

$528,048

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mr Robert Richardson	Secretary / Treasurer	2.0	Officer Director	$0	$0	$0
Mr Vic Bailey III	Vice Chair	2.0	Officer Director	$0	$0	$0
Ms Cathy H McCabe	Chair	2.0	Officer Director	$0	$0	$0
Dr Leonard Starks	Trustee	2.0	Director	$0	$0	$0
Mr Norman Chapman	Trustee	2.0	Director	$0	$0	$0
Mr Scott Montgomery	Trustee	2.0	Director	$0	$0	$0
Ms Nancy Bain Cote	Trustee	2.0	Director	$0	$0	$0
Mr Troy M Hanna	President & CEO / Asst. Sec.	40.0	Officer	$200,053	$44,976	$245,029
Ms Ashley Whitt	Vice President of Grants & Community Impact	40.0	Officer	$91,833	$20,946	$112,779
Ms Kaley A Greene	Chief Financial Officer (beginning June 2024)	40.0	Officer	$62,139	$3,879	$66,018
Ms Karen Nichols	Vice President of Philanthropic Services	40.0	Officer	$76,550	$27,672	$104,222

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	$48,563,790	$39,767,079	$247,921,619	$8,796,711
2023	$54,208,519	$33,170,987	$224,655,520	$21,037,532
2022	$21,477,572	$21,761,604	$187,108,813	$-284,032
2021	$29,550,562	$18,209,904	$213,613,348	$11,340,658
2020	$26,341,368	$13,615,669	$210,601,978	$12,725,699
2019	$33,790,059	$15,266,040	$181,263,172	$18,524,019
2018	$20,421,535	$16,936,687	$156,091,906	$3,484,848

Spartanburg County Foundation