SPARTANBURG RECREATIONAL FACILITIES CORPORATION (EIN 943458625) - 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

2008

Legal Domicile

Principal Officer

CHRIS STORY

Phone

8645962059

Tax Period

2024-07-01 to 2025-06-30

SPARTANBURG RECREATIONAL FACILITIES CORPORATION, founded in 2008, is a small nonprofit in the Community Improvement sector that reported $765K in total revenue in fiscal year 2024. Expenses of $1.2M exceeded revenue, resulting in a 59% operating deficit.

Mission

THE ORGANIZATION EXISTS PRIMARILY TO ASSIST THE CITY OF SPARTANBURG BY ACQUIRING, DONATING, CONTRIBUTING, OWNING, OPERATING, LEASING OR MANAGING RECREATIONAL FACILITIES IN THE CITY.

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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 $0

Program Service Revenue $765,104

Investment Income $0

Other Revenue $0

TOTAL REVENUE $765,104

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,201,981

Other Expenses $1,212,981

TOTAL EXPENSES $1,212,981

Year-over-Year Comparison

	2024	2023	Change
Revenue	$765,104	$774,388	0.0%
Expenses	$1,212,981	$1,207,931	+0.0%
Net Income	$-447,877	$-433,543	+0.0%

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

N/A

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

$593,119

Total Directors

$593,119

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRIS STORY	PRESIDENT	0.20	Officer Director	$0	$51,020	$255,468
MITCH KENNEDY	VICE PRESIDE	0.20	Officer Director	$0	$41,166	$193,831
DENNIS LOCKE	SECRETARY/TR	1.00	Officer Director	$0	$31,813	$143,820

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	$765,104	$1,212,981	$15,794,321	$-447,877
2024	$774,388	$1,207,931	$16,948,578	$-433,543
2023	$783,466	$1,200,830	$18,087,786	$-417,364
2022	$792,339	$1,165,375	$19,183,284	$-373,036
2021	$801,013	$1,232,274	$20,315,631	$-431,261
2020	$2,645,138	$1,036,783	$23,717,849	$1,608,355

SPARTANBURG RECREATIONAL FACILITIES CORPORATION