INNOVATE ANDERSON (EIN 570981427) - 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

1993

Legal Domicile

Principal Officer

ROBERT WILSON

Phone

8642325588

Tax Period

2024-01-01 to 2024-12-31

INNOVATE ANDERSON, founded in 1993, is a micro nonprofit that reported $87K in total revenue in fiscal year 2024. Revenue surged 257% from the prior year, signaling strong growth momentum. Expenses of $112K exceeded revenue, resulting in a 29% operating deficit.

Mission

TO PROMOTE DEVELOPMENT OF ANDERSON COUNTY SOUTH CAROLINA THROUGH MARKETING, EDUCATION, AND TOURISM FOR THE PURPOSE OF ECONOMIC DEVELOPMENT FOCUSED ON JOB CREATION AND CAPITAL INVESTMENT.

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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 $0

Program Service Revenue $0

Investment Income $86,578

Other Revenue $0

TOTAL REVENUE $86,578

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $62,556

Other Expenses $111,796

TOTAL EXPENSES $111,796

Year-over-Year Comparison

	2024	2023	Change
Revenue	$86,578	$24,238	+2.6%
Expenses	$111,796	$80,684	+0.4%
Net Income	$-25,218	$-56,446	-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

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

$60,365

Total Directors

$60,365

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE WOOLES	IND CONSULTA	40.00	Officer Director	$60,365	$0	$60,365
JOEY NIMMER	BOARD MEMBER	1.00	Director	$0	$0	$0
TERENCE V ROBERTS	CHAIRMAN	1.00	Officer	$0	$0	$0
ROBERT WILSON	TREASURER	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	$86,578	$111,796	$1,213,569	$-25,218
2023	$24,238	$80,684	$1,210,465	$-56,446
2022	$130,897	$111,933	$1,150,890	$18,964
2021	$158,071	$142,735	$1,437,530	$15,336
2020	$32,952	$143,139	$1,327,208	$-110,187
2019	$14,738	$75,079	$1,186,581	$-60,341
2018	$-672,327	$142,758	$1,246,922	$-815,085

INNOVATE ANDERSON