DOWNTOWN ASHEBORO INC (EIN 843444377) - 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

2019

Legal Domicile

Principal Officer

AL LAPRADE

Phone

3366102628

Tax Period

2024-07-01 to 2025-06-30

DOWNTOWN ASHEBORO INC, founded in 2019, is a small nonprofit in the Arts, Culture & Humanities sector that reported $174K in total revenue in fiscal year 2024. Revenue fell 79% from the prior year — a significant decline worth monitoring. Expenses of $492K exceeded revenue, resulting in a 183% operating deficit.

Mission

TO PROMOTE THE BUSINESS WITHIN HISTORIC STRUCTURES, THEREFORE CREATING A STRONGER CORE FOR DOWNTOWN HISTORIC PRESERVATION ACTIVITIES.

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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 $101,511

Program Service Revenue $66,867

Investment Income $0

Other Revenue $5,700

TOTAL REVENUE $174,078

Expense Breakdown

Grants Paid $21,765

Salaries & Benefits $10,067

Fundraising Expenses $0

Program Expenses $449,116

Other Expenses $459,943

TOTAL EXPENSES $491,775

Year-over-Year Comparison

	2024	2023	Change
Revenue	$174,078	$818,888	-0.8%
Expenses	$491,775	$317,333	+0.5%
Net Income	$-317,697	$501,555	-1.6%

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

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

$9,390

Total Directors

$9,390

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SAMANTHA BAKER	BOARD MEMBER	4.00	Director	$0	$0	$0
KATHY HOMILLER	BOARD MEMBER	1.00	Director	$0	$0	$0
BROOKS HEDRICK	BOARD MEMBER	1.00	Director	$0	$0	$0
THOMAS OSTEEN	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTIE LUCKENBACH	BOARD MEMBER	1.00	Director	$0	$0	$0
ADDIE CORDER	EXECUTIVE DIRECTOR	40.00	Officer Director	$8,848	$542	$9,390
CARINA TORRES MUNO	BOARD MEMBER	1.00	Director	$0	$0	$0
AL LAPRADE	CHAIR	6.00	Officer	$0	$0	$0
REYNOLDS LISK	VICE CHAIR	1.00	Officer	$0	$0	$0
BARBARA GALLIMORE	SECRETARY/TREASURER	2.00	Officer	$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	$174,078	$491,775	$285,033	$-317,697
2024	$818,888	$317,333	$630,539	$501,555
2023	$297,229	$265,863	$133,036	$31,366
2022	$265,881	$205,921	$99,253	$59,960

DOWNTOWN ASHEBORO INC