GREATER CHARLOTTE CULTURAL TRUST

EIN: 820576292 501(c)(3)

CHARLOTTE, NC

Total Revenue
$1,358,257
Total Expenses
$8,415,178
Total Assets
$213,907,642
Net Assets
$213,877,642
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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
2002
Legal Domicile
NC
Principal Officer
DOUGLAS BENSON
Phone
7049734500
Tax Period
2022-07-01 to 2023-06-30

GREATER CHARLOTTE CULTURAL TRUST, founded in 2002, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2022. Revenue fell 52% from the prior year — a significant decline worth monitoring. Expenses of $8.4M exceeded revenue, resulting in a 520% operating deficit.

Mission

THE GREATER CHARLOTTE CULTURAL TRUST MANAGES CHARITABLE PERMANENT FUNDS IN SUPPORT OF THE ARTS & SCIENCE COUNCIL CHARLOTTE/MECKLENBURG AND ITS CULTURAL PARTNERS.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $1,358,238
Program Service Revenue $0
Investment Income $19
Other Revenue $0
TOTAL REVENUE $1,358,257

Expense Breakdown

Grants Paid $7,536,316
Salaries & Benefits $0
Fundraising Expenses $61,608
Program Expenses $7,937,429
Other Expenses $878,862
TOTAL EXPENSES $8,415,178

Year-over-Year Comparison

2022 2021 Change
Revenue $1,358,257 $2,859,147 -0.5%
Expenses $8,415,178 $5,689,377 +0.5%
Net Income $-7,056,921 $-2,830,230 +1.5%
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

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Governance

Voting Members
11
Independent Members
9
Employees
N/A
Volunteers
9

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
3
$314,887
Total Directors
11
$503,403
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DOUG BENSON SECRETARY 0.50
Officer Director
$0 $43,948 $314,887
KRISTA TERRELL DIRECTOR 0.50
Director
$0 $14,870 $188,516
BAKER BURLESON CHAIR 0.50
Officer Director
$0 $0 $0
RICHARD NICHOLS VICE CHAIR 0.50
Officer Director
$0 $0 $0
SAM BOWLES DIRECTOR 0.50
Director
$0 $0 $0
TORREY FEIMSTER DIRECTOR 0.50
Director
$0 $0 $0
KELLY KATTERHAGEN DIRECTOR 0.50
Director
$0 $0 $0
JOY KENEFICK DIRECTOR 0.50
Director
$0 $0 $0
BRAD KUTROW DIRECTOR 0.50
Director
$0 $0 $0
JACK PURCELL DIRECTOR 0.50
Director
$0 $0 $0
EUGENE YOUNG DIRECTOR 0.50
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 No data No data No data No data
2023 $1,358,257 $8,415,178 $213,907,642 $-7,056,921
2022 $2,859,147 $5,689,377 $187,755,408 $-2,830,230
2021 $2,795,412 $8,175,961 $215,607,180 $-5,380,549
2020 $2,357,736 $14,679,534 $173,742,321 $-12,321,798
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