ARTS COUNCIL OF CARTERET COUNTY 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

1976

Legal Domicile

Principal Officer

WILLIAM J IPOCK

Phone

2522415579

Tax Period

2023-07-01 to 2024-06-30

ARTS COUNCIL OF CARTERET COUNTY INC, founded in 1976, is a small nonprofit that reported $180K in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum.

Mission

TO ENCOURAGE AND SUPPORT THE DEVELOPMENT, PROMOTION, AND EXPANSION OF THE ARTS IN CARTERET COUNTY.

Program Service Accomplishments

Program 1

Expenses: $153,877

VARIOUS CONCERTS, WORKSHOPS AND PERFORMANCES TO PROMOTE THE ARTS IN CARTERET COUNTY

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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 (2023)

Revenue Breakdown

Contributions & Grants $143,833

Program Service Revenue $0

Investment Income $288

Other Revenue $36,055

TOTAL REVENUE $180,176

Expense Breakdown

Grants Paid $41,396

Salaries & Benefits $60,098

Fundraising Expenses $8,735

Program Expenses $153,877

Other Expenses $87,332

TOTAL EXPENSES $188,826

Year-over-Year Comparison

	2023	2022	Change
Revenue	$180,176	$128,523	+0.4%
Expenses	$188,826	$162,530	+0.2%
Net Income	$-8,650	$-34,007	-0.7%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID DALY	TRUSTEE	N/A	Director	$0	$0	$0
BEVERLY GLOVER-WOOD	PRESIDENT	N/A	Officer Director	$0	$0	$0
LIBBY HENDERSON	TRUSTEE	N/A	Director	$0	$0	$0
WILLIAM J IPOCK	TREASURER	N/A	Officer Director	$0	$0	$0
DAVID JAWORSKI	TRUSTEE	N/A	Director	$0	$0	$0
MARK KELLY	SECRETARY	N/A	Officer Director	$0	$0	$0
TOM KIES	TRUSTEE	N/A	Director	$0	$0	$0
AL NORWOOD	TRUSTEE	N/A	Director	$0	$0	$0
EMILY RINEHART	TRUSTEE	N/A	Director	$0	$0	$0
DAVE SLYCK	TRUSTEE	N/A	Director	$0	$0	$0
CHRIS STETSON	TRUSTEE	N/A	Director	$0	$0	$0
NEAL STETSON	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
AMBER SWANGER	TRUSTEE	N/A	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
2024	$180,176	$188,826	$138,091	$-8,650