CARDINAL PRODUCTIONS INC

EIN: 871532828 501(c)(3) Public & Societal Benefit

Roanoke, VA

Total Revenue
$1,302,150
Total Expenses
$1,085,706
Total Assets
$1,339,134
Net Assets
$1,272,582
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2021
Legal Domicile
VA
Principal Officer
Luanne Rife
Phone
5404672189
Tax Period
2023-01-01 to 2023-12-31

CARDINAL PRODUCTIONS INC, founded in 2021, is a community nonprofit in the Public & Societal Benefit sector that reported $1.3M in total revenue in fiscal year 2023. The organization ran a surplus of $216K, a strong 17% operating margin.

Mission

Cardinal News, an independent, nonprofit news organization, reports the untold stories of Southwest and Southside Virginia, and strengthens the voices of the people in our communities who have been sidelined in the commonwealth's political, economic and cultural conversations simply because of where they live.

Program Service Accomplishments

Program 1
Expenses: $872,802 Revenue: $12,725

Cardinal News continued to grow during 2023 and added a managing editor, five more reporters, a sponsorship manager and a director of development. Cardinal Productions Inc. board of directors engaged...

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Cardinal News continued to grow during 2023 and added a managing editor, five more reporters, a sponsorship manager and a director of development. Cardinal Productions Inc. board of directors engaged in strategic planning to ensure that the growth of Cardinal News is managed in a thoughtful, considered manner in order to serve its mission and to secure a sustainable financial path. During 2023, Cardinal News doubled the readers of its newsletters and the amount of support coming from recurring reader donations. It ended the year with more than 3.2 million page views, and was publishing a daily, weekly, political, weather and events newsletters, and had embarked on a 3-year project, Cardinal 250, to tell the little-known stories of Virginia's role in the march to independence in advance of the nation's semiquincentennial. The Institute for Nonprofit News named Cardinal News the Startup of the Year, and LION Publishers awarded it its Financial Health award, along with naming it a finalist for business of the year, outstanding coverage, public service and product of the year. Through our journalism, we continue to provide independent information to the people of our communities, and to elevate their stories to Virginians living elsewhere.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,267,622
Program Service Revenue $12,725
Investment Income $21,803
Other Revenue $0
TOTAL REVENUE $1,302,150

Expense Breakdown

Grants Paid $0
Salaries & Benefits $821,427
Fundraising Expenses $105,009
Program Expenses $872,802
Other Expenses $264,279
TOTAL EXPENSES $1,085,706

Year-over-Year Comparison

2023 2022 Change
Revenue $1,302,150 $1,333,452 0.0%
Expenses $1,085,706 $596,945 +0.8%
Net Income $216,444 $736,507 -0.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
4
Independent Members
4
Employees
16
Volunteers
28

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
$0
Total Directors
4
$0
Key Employees
1
$90,607
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Luanne Rife Executive Director 40
Key Emp
$80,362 $10,245 $90,607
Caroline Glickman President, Board of Directors 4
Officer Director
$0 $0 $0
Debbie Meade Secretary, Board of Directors 4
Officer Director
$0 $0 $0
Chris Turnbull Treasurer, Board of Directors 4
Officer Director
$0 $0 $0
Quinn Graeff Board member 4
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
2024 No data No data No data No data
2023 $1,302,150 $1,085,706 $1,339,134 $216,444
2022 $1,333,452 $596,945 $1,088,750 $736,507
2021 $470,063 $150,432 $337,065 $319,631
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