Tri County Regional Development Co… - 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

2011

Legal Domicile

Principal Officer

Carlether Nesmith

Phone

8435468581

Tax Period

2024-07-01 to 2025-06-30

Tri County Regional Development Corporation, founded in 2011, is a small nonprofit in the Housing & Shelter sector that reported $180K in total revenue in fiscal year 2024. Revenue fell 68% from the prior year — a significant decline worth monitoring. Expenses of $251K exceeded revenue, resulting in a 39% operating deficit.

Mission

To study the characteristics and market trends in relation to economic housing issues within the Waccamaw housing services to special needs population.

Program Service Accomplishments

Program 1

Expenses: $247,533 Revenue: $179,743

To provide low income housing to low income families.

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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 $0

Program Service Revenue $140,544

Investment Income $39,198

Other Revenue $0

TOTAL REVENUE $179,742

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $247,533

Other Expenses $250,514

TOTAL EXPENSES $250,514

Year-over-Year Comparison

	2024	2023	Change
Revenue	$179,742	$569,468	-0.7%
Expenses	$250,514	$585,667	-0.6%
Net Income	$-70,772	$-16,199	+3.4%

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

N/A

Independent Members

N/A

Employees

N/A

Volunteers

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
Boykin Parson	Chairman	5.00	Director	$0	$0	$0
Doris Simmons	Vice Chair	5.00	Director	$0	$0	$0
Carlether Nesmith	Treasurer/Secretary	5.00	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	$179,742	$250,514	$733,400	$-70,772
2024	$569,468	$585,667	$825,311	$-16,199
2024	$569,468	$585,667	$825,311	$-16,199
2023	$54,644	$145,263	$854,025	$-90,619
2022	$76,445	$148,719	$924,880	$-72,274
2021	$67,811	$119,781	$980,792	$-51,970
2020	$170,641	$231,298	$1,014,015	$-60,657
2019	$323,267	$298,817	$1,069,684	$24,450
2018	$214,586	$283,910	$1,105,705	$-69,324
2018	$214,586	$283,910	$1,105,705	$-69,324

Tri County Regional Development Corporation