LOCUS

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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

2021

Legal Domicile

Principal Officer

CLYDE A CORNETT JR

Phone

5402603126

Tax Period

2023-01-01 to 2023-12-31

LOCUS, founded in 2021, is a mid-sized nonprofit in the Community Improvement sector that reported $12.1M in total revenue in fiscal year 2023. Revenue surged 27131% from the prior year, signaling strong growth momentum. The organization ran a surplus of $11.9M, a strong 98% operating margin.

Mission

OUR MISSION IS TO AIDE COMMUNITY AND ECONOMIC DEVELOPMENT INITIATIVES, EITHER DIRECTLY OR THROUGH INVESTMENTS IN SOCIAL ENTERPRISES THAT PROVIDE CAPITAL AND/OR TECHNICAL ASSISTANCE TO EARLY STAGE FOR-PROFIT AND NON-PROFIT BUSINESS ORGANIZATIONS AND COMMUNITY ORGANIZATIONS.

Program Service Accomplishments

Program 1

TO AIDE COMMUNITY AND ECONOMIC DEVELOPMENT INITIATIVES, EITHER DIRECTLY OR THROUGH INVESTMENTS IN SOCIAL ENTERPRISES THAT PROVIDE LOANS, LOAN GUARANTEES, OTHER FORMS OF DEBT OR EQUITY FINANCING FOR EARLY STAGE FOR-PROFIT AND NON-PROFIT BUSINESS ORGANIZATIONS, IMPACT ASSET SERVICING SERVICES AND GRANTS. ADDITIONALLY, THIS ORGANIZATION AND ITS SOCIAL ENTERPRISE SUBSIDIARIES MAY PROVIDE TECHNICAL ASSISTANCE TO BUSINESS OWNERS, COMMUNITY ORGANIZATIONS, CLIENTS AND MANAGERS IN THE EFFECTIVE OPERATION OF THEIR ENTERPRISE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $12,000,000

Program Service Revenue $0

Investment Income $113,077

Other Revenue $0

TOTAL REVENUE $12,113,077

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $225,818

TOTAL EXPENSES $225,818

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,113,077	$44,482	+271.3%
Expenses	$225,818	$4,600	+48.1%
Net Income	$11,887,259	$39,882	+297.1%

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

105

Volunteers

N/A

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

$918,023

Total Directors

$1,059,023

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CLYDE CORNETT	CHIEF FINANCIAL OFFICER, EVP	1.00	Officer Director	$0	$0	$263,831
STACEY ANTONELLI-CHRISTENSEN	SECRETARY	1.00	Officer Director	$0	$0	$92,372
SHERRY MAGILL	DIRECTOR	1.00	Director	$0	$0	$10,550
DIXON HANNA	CHAIRMAN	1.00	Officer Director	$0	$0	$13,700
JAMES W HARKNESS JR	VICE CHAIR	1.00	Officer Director	$0	$0	$14,850
CHARLIE H MILLS III	DIRECTOR	1.00	Director	$0	$0	$13,700
CATHY DOLAN	DIRECTOR	1.00	Director	$0	$0	$17,450
MARY DWYER PEMBROKE	DIRECTOR	1.00	Director	$0	$0	$12,300
KIM ARMSTRONG	DIRECTOR	1.00	Director	$0	$0	$16,100
JACKIE PUENTE	DIRECTOR	1.00	Director	$0	$0	$12,000
FLORENCE KINGSTON	DIRECTOR	1.00	Director	$0	$0	$15,750
ROBERT GILLIAM	DIRECTOR	1.00	Director	$0	$0	$16,050
WILLIAM SHELTON	DIRECTOR	1.00	Director	$0	$0	$14,700
AKSHAY NANDAKUMAR	DIRECTOR	1.00	Director	$0	$0	$11,400
DAVID EDWARDS	DIRECTOR	1.00	Director	$0	$0	$1,000
ASHLEY N COLEMAN	ASSISTANT SECRETARY	1.00	Officer Director	$0	$0	$145,360
AMIR KIRKWOOD	PRESIDENT & CEO	1.00	Officer Director	$0	$0	$387,910
TAMMY JACKSON	CHIEF HUMAN RESOURCES OFFICER, SVP	1.00	Highest	$0	$0	$198,224
CAROLINE NOWERY	CHIEF OF EXTERNAL AFFAIRS	1.00	Highest	$0	$0	$183,321
PETER TAYLOR	CHIEF OPERATIONS OFFICER, SVP	1.00	Highest	$0	$0	$221,831
DEBORAH MARKLEY	EXECUTIVE DIRECTOR, LOCAL INVESTMENT STRATEGY	1.00	Highest	$0	$0	$198,775
JAMES BAEK	SR. VICE PRESIDENT, CIGP	1.00	Highest	$0	$0	$245,251

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	No data	No data	No data	No data
2023	$12,113,077	$225,818	$116,076,941	$11,887,259
2022	$44,482	$4,600	$102,314,462	$39,882
2021	$8,793	$600	$52,478,901	$8,193