TALLADEGA FIRST 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

1985

Legal Domicile

Principal Officer

CINDY PENNINGTON

Phone

2563150000

Tax Period

2023-01-01 to 2023-12-31

TALLADEGA FIRST INC, founded in 1985, is a small nonprofit that reported $203K in total revenue in fiscal year 2023. Revenue surged 43% from the prior year, signaling strong growth momentum. Expenses of $238K exceeded revenue, resulting in a 17% operating deficit.

Mission

TO PROVIDE FOR THE ECONOMIC, CULTURAL AND CIVIC PRIDE REVITALIZATION OF THE CITY OF TALLADEGA'S HISTORIC COURTHOUSE DISTRICT BY PROVIDING QUALITY AND DIVERSE LIVELY ARTS PERFORMANCES IN THE RESTORED RITZ THEATER, A RESTORED ART DECO PERFORMANCE CENTER.

Program Service Accomplishments

Program 1

Expenses: $206,753

OPERATED AND MAINTAINED THE RITZ THEATER AND PROVIDED QUALITY AND DIVERSE LIVELY ARTS PERFORMANCES FOR THE CITIZENS OF TALLADEGA AND THE SURROUNDING AREA WHICH PROVIDED AN ECONOMIC BOOST TO THE CITY...

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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 $103,824

Program Service Revenue $67,619

Investment Income $6,934

Other Revenue $24,841

TOTAL REVENUE $203,218

Expense Breakdown

Grants Paid $0

Salaries & Benefits $70,506

Fundraising Expenses $3,526

Program Expenses $208,503

Other Expenses $167,909

TOTAL EXPENSES $238,415

Year-over-Year Comparison

	2023	2022	Change
Revenue	$203,218	$141,988	+0.4%
Expenses	$238,415	$206,315	+0.2%
Net Income	$-35,197	$-64,327	-0.5%

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
ERIC BURRAGE	DIRECTOR	N/A	Director	$0	$0	$0
AVERY EMBRY	DIRECTOR	N/A	Director	$0	$0	$0
SUSANNAH HERRING	DIRECTOR	N/A	Director	$0	$0	$0
CHAD JONES	CHAIR, EXECU	N/A	Officer Director	$0	$0	$0
MARTHA JORDAN	DIRECTOR	N/A	Director	$0	$0	$0
HUGHLENA KAY	DIRECTOR	N/A	Director	$0	$0	$0
SUZANNE LACEY	DIRECTOR	N/A	Director	$0	$0	$0
CHRIS MASCIA	DIRECTOR	N/A	Director	$0	$0	$0
DR JOHN MASCIA	DIRECTOR	N/A	Director	$0	$0	$0
BOYD MCGEHEE	DIRECTOR	N/A	Director	$0	$0	$0
VIRGINIA MONTGOMERY	DIRECTOR	N/A	Director	$0	$0	$0
CINDY PENNINGTON	PRESIDENT	N/A	Officer Director	$0	$0	$0
MATT PETERS	DIRECTOR	N/A	Director	$0	$0	$0
HELEN SIMS	DIRECTOR	N/A	Director	$0	$0	$0
CHAD THOMAS	TREASURER	N/A	Officer Director	$0	$0	$0
TENA TURNER	VICE PRESIDE	40.00	Officer Director	$0	$0	$0
MIKE WALLER	DIRECTOR	N/A	Director	$0	$0	$0
CHAD WOODRUFF	DIRECTOR	N/A	Director	$0	$0	$0
BARBARA EMBRY	SECRETARY	N/A	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	No data	No data	No data	No data
2023	$203,218	$238,415	$864,089	$-35,197
2022	$141,988	$206,315	$899,858	$-64,327
2021	$456,211	$174,875	$963,859	$281,336
2020	$144,290	$129,655	$687,057	$14,635
2019	$308,331	$285,454	$672,278	$22,877
2018	$695,721	$297,159	$671,400	$398,562