CARTHAGE IMPROVEMENT CORPORATION (EIN 752792161) - 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

1999

Legal Domicile

Principal Officer

STEPHEN K WILLIAMS

Phone

9036933868

Tax Period

2023-10-01 to 2024-09-30

CARTHAGE IMPROVEMENT CORPORATION, founded in 1999, is a small nonprofit in the Community Improvement sector that reported $875K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. The organization ran a surplus of $731K, a strong 84% operating margin.

Mission

TO BENEFIT AND ACCOMPLISH PUBLIC PURPOSES FOR THE CITY OF CARTHAGE, TEXAS, BY PROMOTING, ASSISSTING AND ENHANCING ECONOMIC DEVELOPMENT ACTIVITIES FOR THE CITY AS PROVIDED BY THE STATE OF TEXAS DEVELOPMENT CORPORATION ACT OF 1979, LOCAL GOVERNMENT CODE, CHAPTER 505.

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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 $0

Program Service Revenue $0

Investment Income $75,005

Other Revenue $799,636

TOTAL REVENUE $874,641

Expense Breakdown

Grants Paid $25,000

Salaries & Benefits $42,527

Fundraising Expenses $0

Program Expenses $114,585

Other Expenses $75,768

TOTAL EXPENSES $143,295

Year-over-Year Comparison

	2023	2022	Change
Revenue	$874,641	$928,096	-0.1%
Expenses	$143,295	$132,165	+0.1%
Net Income	$731,346	$795,931	-0.1%

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

$229,784

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN K WILLIAMS	CHIEF EXE OF	4.00	Officer	$0	$7,830	$195,808
BRENDA SAMFORD	RECORDING SE	15.00	Officer	$33,976	$0	$33,976
ISHA BROWN	DIRECTOR	1.00	Director	$0	$0	$0
ANDY COATS	DIRECTOR	1.00	Director	$0	$0	$0
JOHN COOKE	DIRECTOR	1.00	Director	$0	$0	$0
JERRY HANSZEN	SECRETARY/TR	1.00	Director	$0	$0	$0
OLIN JOFFRION	PRESIDENT	1.00	Director	$0	$0	$0
STUART LIPSEY	DIRECTOR	1.00	Director	$0	$0	$0
KERI PEROT-VANCE	DIRECTOR	1.00	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	No data	No data	No data	No data
2024	$874,641	$143,295	$3,106,931	$731,346
2023	$928,096	$132,165	$2,291,012	$795,931
2022	$762,095	$445,691	$1,495,081	$316,404
2021	$645,591	$131,249	$1,178,677	$514,342
2020	$640,414	$451,370	$664,335	$189,044
2019	$651,741	$618,587	$477,167	$33,154
2018	$522,237	$518,468	$444,013	$3,769

CARTHAGE IMPROVEMENT CORPORATION