OTHA E HERRING SCHOLARS FUND I (EIN 756690165) - 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

2003

Legal Domicile

Principal Officer

WALTER REED

Phone

9197162015

Tax Period

2023-07-01 to 2024-06-30

OTHA E HERRING SCHOLARS FUND I, founded in 2003, is a small nonprofit in the Education sector that reported $138K in total revenue in fiscal year 2023. Revenue fell 83% from the prior year — a significant decline worth monitoring. Expenses of $202K exceeded revenue, resulting in a 46% operating deficit.

Mission

PROVIDE FUNDING FOR SCHOLARSHIPS FOR RESIDENTS OF DUPLIN COUNTY AND THE TOWN OF MOUNT OLIVE, NC WHO ARE FULL OR PART-TIME STUDENTS OF MOUNT OLIVE COLLEGE

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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 $138,118

Other Revenue $67

TOTAL REVENUE $138,185

Expense Breakdown

Grants Paid $168,072

Salaries & Benefits $30,002

Fundraising Expenses $0

Program Expenses $183,073

Other Expenses $4,097

TOTAL EXPENSES $202,171

Year-over-Year Comparison

	2023	2022	Change
Revenue	$138,185	$794,142	-0.8%
Expenses	$202,171	$194,450	+0.0%
Net Income	$-63,986	$599,692	-1.1%

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

N/A

Employees

N/A

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

$361,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIM WOODWARD	TRUSTEE	1.0	Director	$0	$0	$111,000
BRIAN BLACKBURN	TRUSTEE	1.0	Director	$0	$0	$65,000
LYNNE SMITH	TRUSTEE	1.0	Director	$0	$0	$0
MARY DRUMMOND	TRUSTEE	1.0	Director	$0	$0	$0
CLARK DRUMMOND	TRUSTEE	1.0	Director	$0	$0	$0
KEN BUCHANAN	TRUSTEE	1.0	Director	$0	$0	$185,000
FIRST CITIZENS BANK	TRUSTEE	1.0		$30,003	$0	$30,003

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	$138,185	$202,171	$3,471,913	$-63,986
2023	$794,142	$194,450	$3,538,068	$599,692
2022	$166,693	$214,604	$2,939,225	$-47,911
2021	$177,443	$222,285	$2,987,006	$-44,842
2020	$225,047	$236,648	$3,034,633	$-11,601
2019	$114,427	$232,293	$3,046,233	$-117,866

OTHA E HERRING SCHOLARS FUND I