THE IREDELL MUSEUMS 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

2004

Legal Domicile

Phone

7048734734

Tax Period

2024-07-01 to 2025-06-30

THE IREDELL MUSEUMS INC, founded in 2004, is a small nonprofit in the Arts, Culture & Humanities sector that reported $110K in total revenue in fiscal year 2024. Revenue fell 30% from the prior year — a significant decline worth monitoring. Expenses of $158K exceeded revenue, resulting in a 44% operating deficit.

Mission

A NON PROFIT ORGANIZATION WHOSE MISSION IS TO PRESERVE, PROMOTE, AND PROVIDE LEARNING EXPERIENCES IN CULTURE, HERITAGE, SCIENCE, AND ARTS

Program Service Accomplishments

Program 1

Expenses: $136,653 Revenue: $109,708

PROGRAMS THAT EDUCATE AND PROVIDE LEARNING EXPERIENCES IN CULTURE, HERITAGE, SCIENCE, AND ARTS

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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 $109,708

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $109,708

Expense Breakdown

Grants Paid $0

Salaries & Benefits $95,344

Fundraising Expenses $0

Program Expenses $136,653

Other Expenses $62,923

TOTAL EXPENSES $158,267

Year-over-Year Comparison

	2024	2023	Change
Revenue	$109,708	$157,408	-0.3%
Expenses	$158,267	$152,404	+0.0%
Net Income	$-48,559	$5,004	-10.7%

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

Total Directors

Key Employees

$37,350

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JUSTYN KISSAM	PROGRAMS OPREATIONS MANAGER	40.00	Highest	$48,585	$0	$48,585
KATHRYN BLANKENSHIP	EDUCATIONAL COORDINATOR	40.00	Key Emp	$37,350	$0	$37,350
HARRISON JENKINS	MEMBER	1.00	Director	$0	$0	$0
SHEILA JENKINS	MEMBER	1.00	Director	$0	$0	$0
SARAH ROGERS	SECRETARY	2.00	Officer	$0	$0	$0
LEON IJAMES	PRESIDENT	3.00	Officer	$0	$0	$0
CAROL A CIAMPANELLA	TREASURER	5.00	Officer	$0	$0	$0
ERICA HORNE	VICE PRESIDENT	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
2026	No data	No data	No data	No data
2025	$109,708	$158,267	$355,262	$-48,559
2024	$157,408	$152,404	$405,843	$5,004
2023	$160,123	$125,249	$400,369	$34,874
2022	$111,662	$111,643	No data	$19
2021	$138,472	$90,547	$370,434	$47,925
2020	$83,454	$113,190	$321,901	$-29,736