INTER-FAITH ALLIANCE CORPORATION D… - Form 990 Financial Data

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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

2009

Legal Domicile

Principal Officer

MICHEAL WOODS

Phone

7047511256

Tax Period

2024-01-01 to 2024-12-31

INTER-FAITH ALLIANCE CORPORATION DBA CLEVELAND COUNTY RESCUE MISSION, founded in 2009, is a community nonprofit in the Human Services sector that reported $1.0M in total revenue in fiscal year 2024. Revenue surged 128% from the prior year, signaling strong growth momentum. The organization ran a surplus of $344K, a strong 34% operating margin.

Mission

THE MISSION IS DEDICATED TO SERVING THE HOMELESS, POOR AND ADDICTED POPULATIONS OF CLEVELAND COUNTY NC AND SURROUNDING AREAS

Program Service Accomplishments

Program 1

Expenses: $474,258 Revenue: $44,355

TO PROVIDE ACCESS TO BASIC NEEDS AS WELL AS OPPORTUNITIES FOR RECOVERY, PERSONAL GROWTH AND DEVELOPMENT, THE MISSION ENABLES PEOPLE TO BEGIN THEIR JOURNEY OUT OF CRISIS AND INTO SELF-SUFFICIENCY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $959,255

Program Service Revenue $44,355

Investment Income $0

Other Revenue $15,215

TOTAL REVENUE $1,018,825

Expense Breakdown

Grants Paid $0

Salaries & Benefits $436,404

Fundraising Expenses $115,179

Program Expenses $474,258

Other Expenses $215,569

TOTAL EXPENSES $675,120

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,018,825	$447,607	+1.3%
Expenses	$675,120	$836,597	-0.2%
Net Income	$343,705	$-388,990	-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

250

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
DR LARRY ALLEN	MEMBER	1.00	Director	$0	$0	$0
JOEY HAMRICK	VICE CHAIRMA	1.00	Officer Director	$0	$0	$0
MICHAEL HOUSTON	MEMBER	1.00	Director	$0	$0	$0
TOM MARTIN	MEMBER	1.00	Director	$0	$0	$0
BOB MELTON	TREASURER	1.00	Officer Director	$0	$0	$0
NICOLE MOSLEY	MEMBER	1.00	Director	$0	$0	$0
DR JESS POWELL	CHAIRMAN	1.00	Officer 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	$1,018,825	$675,120	$196,795	$343,705
2023	$447,607	$836,597	$80,017	$-388,990
2022	$735,737	$732,426	$319,284	$3,311
2021	$660,401	$674,012	$69,461	$-13,611
2020	$423,289	$516,853	$1,391,849	$-93,564
2019	$622,837	$537,320	$1,557,641	$85,517
2018	$627,738	$571,083	$1,356,110	$56,655

INTER-FAITH ALLIANCE CORPORATION DBA CLEVELAND COUNTY RESCUE MISSION