CHARLESTON REGATTA INC

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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

2022

Legal Domicile

Principal Officer

ANDY RICHARDSON

Phone

3043451151

Tax Period

2023-01-01 to 2023-12-31

CHARLESTON REGATTA INC, founded in 2022, is a community nonprofit in the Recreation & Sports sector that reported $1.5M in total revenue in fiscal year 2023. Expenses of $1.3M left a modest 11% surplus.

Mission

HOST THE ANNUAL CHARLESTON STERNWHEEL REGATTA

Program Service Accomplishments

Program 1

Expenses: $1,185,537 Revenue: $927,678

ANNUAL FESTIVAL HELD IN CHARLESTON, WV THAT CELEBRATES THE HISTORY OF STERNWHEEL RIVER BOATS IN THE REGION. THE EVENT, WHICH REEMERGED IN THE SUMMER OF 2022 AS THE PREMIER SUMMER EVENT IN THE AREA...

ANNUAL FESTIVAL HELD IN CHARLESTON, WV THAT CELEBRATES THE HISTORY OF STERNWHEEL RIVER BOATS IN THE REGION. THE EVENT, WHICH REEMERGED IN THE SUMMER OF 2022 AS THE PREMIER SUMMER EVENT IN THE AREA, NOT ONLY SPURS ECONOMIC GROWTH IN THE REGION BUT ALSO BRINGS THE GREATER CHARLESTON COMMUNITY AND SURROUNDING REGION TOGETHER FOR A MUTLI-DAY EVENT.

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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 $546,599

Program Service Revenue $927,678

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,474,277

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $40,000

Program Expenses $1,185,537

Other Expenses $1,305,969

TOTAL EXPENSES $1,305,969

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,474,277	$1,365,436	+0.1%
Expenses	$1,305,969	$1,268,425	+0.0%
Net Income	$168,308	$97,011	+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

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRENT BURTON	VICE PRESIDE	0.50	Officer Director	$0	$0	$0
BECKY CEPERLY	EX OFFICIO D	N/A	Director	$0	$0	$0
TERRELL ELLIS	SECRETARY	0.50	Officer Director	$0	$0	$0
DR MICHELLE FOSTER	DIRECTOR	N/A	Director	$0	$0	$0
AMY SHULER GOODWIN	EX OFFICIO D	N/A	Director	$0	$0	$0
MARY BETH HOOVER	EX OFFICIO D	N/A	Director	$0	$0	$0
RICH KATZ	DIRECTOR	N/A	Director	$0	$0	$0
DR ELISHA LEWIS	DIRECTOR	N/A	Director	$0	$0	$0
BENJAMIN MISHOE	EX OFFICIO D	N/A	Director	$0	$0	$0
ANDY RICHARDSON	PRESIDENT	1.00	Officer Director	$0	$0	$0
BEN SALANGO	DIRECTOR	N/A	Director	$0	$0	$0
JOSHUA SCOTT	DIRECTOR	N/A	Director	$0	$0	$0
PATRICK SMITH	TREASURER	1.00	Officer 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	$1,474,277	$1,305,969	$370,207	$168,308
2022	$1,365,436	$1,268,425	$339,011	$97,011