FAIRHOPE SINGLE TAX CORPORATION (EIN 630243535) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1905

Legal Domicile

Principal Officer

MICHAEL UPCHURCH

Phone

2519288162

Tax Period

2023-01-01 to 2023-12-31

FAIRHOPE SINGLE TAX CORPORATION, founded in 1905, is a community nonprofit in the Community Improvement sector that reported $6.4M in total revenue in fiscal year 2018. Expenses of $6.0M left a modest 6% surplus.

Mission

THE CORPORATION IS RECOGNIZED AS TAX EXEMPT UNDER SECTION 501C4 OF THE INTERNAL REVENUE CODE AS A SOCIAL WELFARE ORGANIZATION. ITS PURPOSE SHALL BE TO ESTABLISH AND CONDUCT A MODEL COMMUNITY OR COLONY, FREE FROM ALL FORMS OF PRIVATE MONOPOLY AND TO SECURE ITS MEMBERS THERIN EQUALITY OF OPPORTUNITY, THE FULL REWARD OF INDIVIDUAL EFFORTS AND THE BENEFITS OF COOPERATION IN MATTERS OF GENERAL CONCERN. THE CORPORATION OWNS APPROXIMATELY 4,400 ACRES OF LAND, WHICH IT LEASES FOR A VARIETY OF PURPOSES, RESIDENTIAL, COMMERCIAL, AGRICULTURAL AND MUNICIPAL. THE CORPORATION IS FINANCIALLY SUPPORTED THROUGH RENTS FROM THE LEASE OF ITS LAND HOLDINGS. THE LARGEST PORTION OF THE RENT COLLECTED IS THE AD VALOREM TAX PORTION, WHICH IS PAID TO THE LOCAL TAX COLLECTOR. THE REMAINING RENT IS USED TO PAY ADMINISTRATIVE EXPENSES, VARIOUS COMMUNITY IMPROVEMENTS AND CHARITABLE CONTRIBUTIONS.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $10,729,340

Investment Income $1,307,694

Other Revenue $17,200

TOTAL REVENUE $12,054,234

Expense Breakdown

Grants Paid $171,510

Salaries & Benefits $248,859

Fundraising Expenses $0

Program Expenses $10,073,171

Other Expenses $9,689,702

TOTAL EXPENSES $10,110,071

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,054,234	$9,355,680	+0.3%
Expenses	$10,110,071	$8,683,124	+0.2%
Net Income	$1,944,163	$672,556	+1.9%

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

$20,100

Total Directors

$16,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEE TURNER	PRESIDENT	010.00	Officer	$6,000	$0	$6,000
MICHAEL UPCHURCH	TREASURER	009.00	Officer	$6,000	$0	$6,000
REUBEN DAVIDSON	SECRETARY	010.00	Officer	$6,000	$0	$6,000
H C CLIFF PITMAN	DIRECTOR	003.00	Director	$2,100	$0	$2,100
CATHERINE KING	DIRECTOR	003.00	Director	$2,100	$0	$2,100
GEOFFREY F KENNEDY	DIRECTOR	003.00	Director	$2,100	$0	$2,100
FRED WATKINS JR	DIRECTOR	003.50	Director	$2,100	$0	$2,100
JAMES REID JR	DIRECTOR	003.00	Director	$2,100	$0	$2,100
PAT KING	TRUSTEE	005.00	Director	$2,100	$0	$2,100
TERESA WATKINS	TRUSTEE	003.00	Director	$2,100	$0	$2,100
GEORGE GILMORE	TRUSTEE	002.00	Director	$2,100	$0	$2,100
CHARLES LAKE	VICE PRESIDENT	005.00	Officer	$2,100	$0	$2,100

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$12,054,234	$10,110,071	$12,328,556	$1,944,163
2022	$9,355,680	$8,683,124	$10,380,327	$672,556
2021	$8,332,566	$8,172,567	$9,781,910	$159,999
2020	$7,564,284	$6,722,155	$9,185,222	$842,129
2019	$6,793,126	$7,095,597	$8,923,069	$-302,471
2018	$6,365,062	$5,968,767	$7,980,747	$396,295

FAIRHOPE SINGLE TAX CORPORATION