Nonprofit · EIN 56-1903517
TURNAROUND MANAGEMENT ASSOCIATION
Also known as CAROLINAS CHAPTER
Tax-exempt · CHARLOTTE, NC 28270
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $275,015 | $238,077 | $36,938 | $180,197 | $2,648 | $177,549 |
| December 31, 2024 | 990 | $210,322 | $230,268 | -$19,946 | $143,259 | $2,648 | $140,611 |
| December 31, 2023 | 990 | $250,431 | $230,642 | $19,789 | $163,205 | $2,648 | $160,557 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $233,218
- Membership dues
- $6,595
- Program service revenue
- $40,149
- Investment income
- $1,648
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $1,356
- Travel
- $2,222
- Program services (functional)
- $221,925
- Management and general (functional)
- $16,152
Balance sheet and other
- Total assets, start of year
- $143,259
- Total assets, end of year
- $180,197
- Total liabilities, end of year
- $2,648
- Net assets, end of year
- $177,549
- Net assets without donor restrictions
- $177,549
- Gross receipts
- $275,015
- Employees
- 0
- Volunteers
- 17
- Year formed
- 1994
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL BEAL | DIRECTOR Trustee or director | – | $0 |
| DAVID FIEGEL | DIRECTOR Trustee or director | – | $0 |
| JOE PALONCICH | TREASURER Trustee or director | – | $0 |
| JOE POLANCICH | DIRECTOR Trustee or director | – | $0 |
| BEN RILEY | DIRECTOR Trustee or director | – | $0 |
| MARK RUDAY | DIRECTOR Trustee or director | – | $0 |
| ED SANZ | DIRECTOR Trustee or director | – | $0 |
| DAVID SCHILLI | DIRECTOR Trustee or director | – | $0 |
| BOWEN SMITH | DIRECTOR Trustee or director | – | $0 |
| MATT SMITH | DIRECTOR Trustee or director | – | $0 |
| LISA SUMNER | DIRECTOR Trustee or director | – | $0 |
| DANIEL VALLE | DIRECTOR Trustee or director | – | $0 |
| JERRY YOUNTS | DIRECTOR Trustee or director | – | $0 |
| JANE DOWNEY | SECRETARY Officer | – | $0 |
| STEVE JANSON | PRESIDENT-EL Officer | – | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOE POLANCICH | TREASURER Officer | – | $0 |
| ROB TRAMANTANO | PRESIDENT Officer | – | $0 |
| MARGARET WESTBROOK | IMMEDIATE PA Officer | – | $0 |
990 for the year ended December 31, 2024: 16 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Rob Tramantano | President Officer | – | $0 |
| Steve Janson | President-Elect Officer | – | $0 |
| Jane Downey | Secretary Officer | – | $0 |
| Joe Polancich | Treasurer Officer | – | $0 |
| Margaret Westbrook | Immediate Past President Officer | – | $0 |
| Michael Beal | Director | – | $0 |
| David Fiegel | Director | – | $0 |
| Ben Riley | Director | – | $0 |
| Mark Ruday | Director | – | $0 |
| Ed Sanz | Director | – | $0 |
| David Schilli | Director | – | $0 |
| Matt Smith | Director | – | $0 |
| Bowen Smith | Director | – | $0 |
| Lisa Sumner | Director | – | $0 |
| Daniel Valle | Director | – | $0 |
| Jerry Younts | Director | – | $0 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Rob Tramantano | President Officer | – | $0 |
| Steve Janson | President-Elect Officer | – | $0 |
| Jane Downey | Secretary Officer | – | $0 |
| Joe Polancich | Treasurer Officer | – | $0 |
| Margaret Westbrook | Immediate Past President Officer | – | $0 |
| Michael Beal | Director | – | $0 |
| David Fiegel | Director | – | $0 |
| Ben Riley | Director | – | $0 |
| Mark Ruday | Director | – | $0 |
| Ed Sanz | Director | – | $0 |
| David Schilli | Director | – | $0 |
| Matt Smith | Director | – | $0 |
| Bowen Smith | Director | – | $0 |
| Lisa Sumner | Director | – | $0 |
| Daniel Valle | Director | – | $0 |
| Jerry Younts | Director | – | $0 |
Address and contacts
- Address (IRS master file)
- 6936 HUNTFIELD DR, CHARLOTTE, NC 28270-1815
- In care of
- % DEBORAH L FLETCHER
- Principal officer (990 for 2025)
- JOE POLANCICH, 909 SUMMER HARVEST DRIVE, MATTHEWS, NC 28104
- Signed the 990
- JOE POLANCICH, TREASURER
- Phone
- (704) 733-9791
- Return prepared by
- JACOBS & COMPANY CPAS PLLC
Mission
PROVIDE OPPORTUNITIES FOR TURNAROUND MANAGEMENT PROFESSIONALS TO NETWORK AND PRESENTED TRADES SHOWS TO PROMOTE THE INDUSTRY.
Program accomplishments
- TMA SOUTHEAST REGIONAL CONFERENCEExpenses $164,795 · revenue $190,891
- TMA CAROLINAS CHAPTERExpenses $57,130 · revenue $82,476
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-1903517
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1996
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $180,197
- Income (IRS master file)
- $275,015
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $275,015 | $238,077 | $180,197 | IRS |
| 990 | December 2024 | $210,322 | $230,268 | $143,259 | XML |
| 990 | December 2023 | $250,431 | $230,642 | $163,205 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1903517).
Questions about TURNAROUND MANAGEMENT ASSOCIATION
- What is the EIN of TURNAROUND MANAGEMENT ASSOCIATION?
- The employer identification number (EIN) of TURNAROUND MANAGEMENT ASSOCIATION is 56-1903517.
- Is TURNAROUND MANAGEMENT ASSOCIATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1996.
- Are donations to TURNAROUND MANAGEMENT ASSOCIATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does TURNAROUND MANAGEMENT ASSOCIATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of TURNAROUND MANAGEMENT ASSOCIATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did TURNAROUND MANAGEMENT ASSOCIATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of TURNAROUND MANAGEMENT ASSOCIATION?
- The 990 for the year ended December 31, 2025 names JOE POLANCICH.
- Who are the officers and directors of TURNAROUND MANAGEMENT ASSOCIATION?
- The 990 for the year ended December 31, 2025 lists 18 people; 0 received compensation from the organization.
- How much revenue does TURNAROUND MANAGEMENT ASSOCIATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $275,015, expenses of $238,077 and total assets of $180,197 at year end.
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