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Turnaround Management Association

Not tax-deductible

Charlotte, NC501(c)(6)Since 1994EIN 56-1903517

Provide opportunities for turnaround management professionals to network and presented trades shows to promote the industry.

93¢ of each $1 spent went to programs.
Run by 17 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $12K a year · 5% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 9.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$275K
+31% vs prior year
Spent
$238K
To programs
93%
Net assets
$178K
By yearFY2020–FY2025
Revenue
$275K
FY2025▲ +31%
Revenue by fiscal year
FY2020$39K
FY2021$54K
FY2022$86K
FY2023$250K
FY2024$210K
FY2025$275K
Expenses
$238K
FY2025▲ +3%
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022Not on file
FY2023$231K
FY2024$230K
FY2025$238K
Net assets
$178K
FY2025▲ +26%
Net assets by fiscal year
FY2020$87K
FY2021$83K
FY2022$95K
FY2023$161K
FY2024$141K
FY2025$178K

From the FY2025 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1996.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $222K Management & general 7% · $16K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation
Michael Beal
Director
$0Pt VII · Sec A
David Fiegel
Director
$0Pt VII · Sec A
Joe Paloncich
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Ben Riley
Director
$0Pt VII · Sec A
Mark Ruday
Director
$0Pt VII · Sec A
Ed Sanz
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Turnaround Management Association executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Connects turnaround professionals for networking and industry promotion at trade shows.

Provided by the organization

This section is blank until Turnaround Management Association claims this page.

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2 program services account for $222K of program spending, described in the organization's own filed words · FY2025.
01

Tma southeast regional conference

$165Kprogram expense
02

Tma carolinas chapter

$57Kprogram expense

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By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$275K
Ln 12
Gifts and grantsLn 1h$233K
Fees for servicesLn 2g$40K
Investment incomeLn 3$2K
Money outPt IX
$238K
Ln 25
Programscol B$222K
Managementcol C$16K
Owns and owesPt X
$178K
net assets · Ln 32
Cash and savingsLn 1–2$180K
Total assetsLn 16$180K
LiabilitiesLn 26$3K
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$233K
Fees for servicesLn 2g$40K
Investment incomeLn 3$2K
Total revenueLn 12$275K
Assets in detailPt X, end of year
CashLn 1$180K
Cash and savings togetherLn 1–2$180K
Total assetsLn 16$180K
LiabilitiesLn 26$3K
Net assetsLn 32$178K
OperationsPt I, VI
EmployeesI 50
VolunteersI 617
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$143K$180K
Total assetsLn 16$143K$180K
LiabilitiesLn 26$3K$3K
Net assetsLn 32$141K$178K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$53K$40K$13K
Accounting feesLn 11c$1K$1K
Office expensesLn 13$1K$1K
TravelLn 17$2K$2K
Conferences, conventions and meetingsLn 19$32K$32K
InsuranceLn 23$2K$1K$328
Other expenses (24a–d)Ln 24$133K$133K
All other expensesLn 24e$13K$13K
Total functional expensesLn 25$238K$222K$16K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $275K$238K$37K$178K 990 PDF
FY2024 $210K$230K−$20K$141K 990 PDF
FY2023 $250K$231K$20K$161K 990 PDF
FY2022 $86K$95K 990 PDF
FY2021 $54K$83K 990 PDF
FY2020 $39K$87K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (4 parts)
Part VIII · Statement of revenue $275,015 across 6 lines filed
VIII-1b Membership dues$6,595
VIII-1f All other contributions, gifts and grants$226,623
VIII-1h Total contributions, gifts and grants$233,218
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $40,149$40,149
VIII-3 Investment incomeRelated to mission $1,648$1,648
VIII-12 Total revenueRelated to mission $41,797$275,015
Part IX · Statement of functional expenses $238,077 across 8 lines filed
IX-11a Management feesPrograms $39,836 · Management $13,279$53,115
IX-11c Accounting feesManagement $1,356$1,356
IX-13 Office expensesManagement $1,189$1,189
IX-17 TravelPrograms $2,222$2,222
IX-19 Conferences, conventions and meetingsPrograms $32,385$32,385
IX-23 InsurancePrograms $1,385 · Management $328$1,713
IX-24 Other expenses (24a–d)Programs $132,642$132,642
IX-24e All other expensesPrograms $13,455$13,455
IX-25 Total functional expensesPrograms $221,925 · Management $16,152 · Fundraising $0$238,077
Part X · Balance sheet $180,197 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $143,259$180,197
X-16 Total assetsStart of year $143,259$180,197
X-17 Accounts payable and accrued expensesStart of year $2,648$2,648
X-26 Total liabilitiesStart of year $2,648$2,648
X-27 Net assets without donor restrictionsStart of year $140,611$177,549
X-32 Total net assets or fund balancesStart of year $140,611$177,549
X-33 Total liabilities and net assetsStart of year $143,259$180,197
Part XI · Reconciliation of net assets $177,549 net assets at year end
XI-1 Total revenue$275,015
XI-2 Total expenses$238,077
XI-3 Revenue less expenses$36,938
XI-4 Net assets at start of year$140,611
XI-10 Net assets at end of year$177,549

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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