GREATER CHARLOTTE CULTURAL TRUST

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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

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

GROWING AND SUSTAINING A VIBRANT CULTURAL COMMUNITY IN CHARLOTTE-MECKLENBURG BY PROVIDING ENDOWMENT MANAGEMENT AND OVERSIGHT AND INVESTMENT EXPERTISE TO BUILD AND GROW PERMANENT FUNDS FOR THE AREA'S ARTS, SCIENCE, AND HISTORY ORGANIZATIONS.

Program Service Accomplishments

Program 1

Expenses: $7,937,429

HISTORIC, ARTS & SCIENCES: THE TRUST OVERSEES THE CULTURAL ENDOWMENT TO HELP SUSTAIN AND GROW THE PERMANENT FUNDS OF THE ARTS & SCIENCE COUNCIL OF CHARLOTTE/MECKLENBURG AND ITS CULTURAL PARTNERS...

HISTORIC, ARTS & SCIENCES: THE TRUST OVERSEES THE CULTURAL ENDOWMENT TO HELP SUSTAIN AND GROW THE PERMANENT FUNDS OF THE ARTS & SCIENCE COUNCIL OF CHARLOTTE/MECKLENBURG AND ITS CULTURAL PARTNERS THROUGH INVESTMENT MANAGEMENT. BY AGGREGATING THE ENDOWMENTS OF ALL CULTURAL ORGANIZATIONS WITH THE ASSETS OF FOUNDATION FOR THE CAROLINAS, THE TRUST PROVIDES COMPETITIVE FEES AND ACCESS TO INVESTMENT MANAGERS AND EXPERTISE.

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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 (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

Governance

Voting Members

Independent Members

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

$314,887

Total Directors

$503,403

Key Employees

Highest Compensated

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