Friends of the Battleship North Carolina Inc (EIN 581074102) - 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

1986

Legal Domicile

Principal Officer

Ron Henderson

Phone

9103999117

Tax Period

2024-10-01 to 2025-09-30

Friends of the Battleship North Carolina Inc, founded in 1986, is a small nonprofit in the Arts, Culture & Humanities sector that reported $225K in total revenue in fiscal year 2024. Expenses of $413K exceeded revenue, resulting in a 84% operating deficit.

Mission

The Mission of the Corporation is to support the Battleship North Carolina, to promote and perpetuate other activities relating to the Battleship North Carolina and to work cooperatively with the North Carolina Department of Natural and Cultural Resources.

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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 $118,536

Program Service Revenue $85,499

Investment Income $20,877

Other Revenue $0

TOTAL REVENUE $224,912

Expense Breakdown

Grants Paid $37,155

Salaries & Benefits $29,595

Fundraising Expenses $13,458

Program Expenses $340,066

Other Expenses $346,491

TOTAL EXPENSES $413,241

Year-over-Year Comparison

	2024	2023	Change
Revenue	$224,912	$223,913	+0.0%
Expenses	$413,241	$188,201	+1.2%
Net Income	$-188,329	$35,712	-6.3%

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

156

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

$27,492

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Frank Glossl	Executive Director	20.00	Director	$27,492	$0	$27,492
Ron Henderson	Chair	3.00	Officer Director	$0	$0	$0
Jeff Mixon	Secretary	3.00	Officer Director	$0	$0	$0
Ronald Rhodes	Treasurer	10.00	Officer Director	$0	$0	$0
John Whitley	Vice Chair	3.00	Officer Director	$0	$0	$0
Gordon Hume	Member at Large	3.00	Director	$0	$0	$0
Joe Calla	Member at Large	3.00	Director	$0	$0	$0
Jim Buell	Director	3.00	Director	$0	$0	$0
Patrick Cummings	Director	3.00	Director	$0	$0	$0
Alexander Dydula	Director	3.00	Director	$0	$0	$0
Dave Hoyt	Director	3.00	Director	$0	$0	$0
Kellie Corcoran	Director	3.00	Director	$0	$0	$0
Karen Marzilli	Member at Large	3.00	Director	$0	$0	$0
John Munn	Director	3.00	Director	$0	$0	$0
Richard Rodgers	Director	3.00	Director	$0	$0	$0
Bruce Tingle	Director	3.00	Director	$0	$0	$0
Jim Owens	Director	3.00	Director	$0	$0	$0
Roger Weigold	Director	3.00	Director	$0	$0	$0
Ted Powers	Director	3.00	Director	$0	$0	$0
Bob Groman	Director	3.00	Director	$0	$0	$0
Kevin McCarthy	Director	3.00	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	$224,912	$413,241	$1,007,451	$-188,329
2024	$223,913	$188,201	$999,913	$35,712
2023	$210,886	$103,982	$885,021	$106,904
2022	$159,422	$104,812	$772,684	$54,610
2021	$135,524	$57,630	$704,207	$77,894
2020	$212,644	$2,216,806	$631,218	$-2,004,162
2019	$318,369	$487,266	$2,784,824	$-168,897
2018	$399,342	$199,195	$3,019,268	$200,147

Friends of the Battleship North Carolina Inc