BANGOR REGION CHAMBER OF COMMERCE (EIN 010024245) - 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

1911

Legal Domicile

Principal Officer

DEB NEUMAN

Phone

2079470307

Tax Period

2023-01-01 to 2023-12-31

BANGOR REGION CHAMBER OF COMMERCE, founded in 1911, is a small nonprofit that reported $573K in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $721K exceeded revenue, resulting in a 26% operating deficit.

Mission

THE BANGOR REGION CHAMBER OF COMMERCE IS A MEMBER-CENTRIC ORGANIZATION WHOSE MISSION IS TO ADVANCE THE ECONOMIC VITALITY OF THE REGION BY PROMOTING BUSINESS GROWTH, TALENT DEVELOPMENT AND NETWORKING WHILE ADVOCATIONG FOR OUR MEMBERSHIP.

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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 $5,000

Program Service Revenue $522,261

Investment Income $139

Other Revenue $45,904

TOTAL REVENUE $573,304

Expense Breakdown

Grants Paid $0

Salaries & Benefits $395,239

Fundraising Expenses $0

Program Expenses $634,334

Other Expenses $325,716

TOTAL EXPENSES $720,955

Year-over-Year Comparison

	2023	2022	Change
Revenue	$573,304	$468,599	+0.2%
Expenses	$720,955	$610,617	+0.2%
Net Income	$-147,651	$-142,018	+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

Employees

Volunteers

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

$99,501

Total Directors

$99,501

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEB NEUMAN	PRESIDENT/CEO	40.00	Officer Director	$99,501	$0	$99,501
JACLYN FISH	CHAIR	1.50	Officer Director	$0	$0	$0
JODI REYNOLDS	CHAIR ELECT/TREASURER	1.50	Officer Director	$0	$0	$0
DAVID DUNNING	PAST CHAIR	1.50	Officer Director	$0	$0	$0
NETTIE KILBY	MEMBERSHIP COMMITTEE	1.50	Director	$0	$0	$0
JUDY LONG	POLICY LIAISON	1.00	Director	$0	$0	$0
JASON CLAY	COMMUNITY COUNCIL	1.00	Director	$0	$0	$0
WOODROW CROSS II	DIRECTOR	1.00	Director	$0	$0	$0
RENEE DOBLE	DIRECTOR	1.00	Director	$0	$0	$0
JOAN FERRINI-MUNDY	DIRECTOR	1.00	Director	$0	$0	$0
HEATHER FURTH	DIRECTOR	1.50	Director	$0	$0	$0
JANET KELLE	DIRECTOR	1.00	Director	$0	$0	$0
PHILIP HENRY	DIRECTOR	1.50	Director	$0	$0	$0
CHRIS KILGOUR	DIRECTOR	1.00	Director	$0	$0	$0
KRISTEN MCALPINE	DIRECTOR	1.00	Director	$0	$0	$0
AUSTIN MUCHEMORE	DIRECTOR	1.00	Director	$0	$0	$0
SHIRAR PATTERSON	DIRECTOR	1.00	Director	$0	$0	$0
KELLY PEARSON	DIRECTOR	1.00	Director	$0	$0	$0
TIM PEASE	DIRECTOR	1.00	Director	$0	$0	$0
LIZ RUSSELL	DIRECTOR	1.00	Director	$0	$0	$0
KAREN SHOREY	DIRECTOR	1.00	Director	$0	$0	$0
AIMEE THIBODEAU	DIRECTOR	1.00	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	$573,304	$720,955	$349,152	$-147,651
2022	$468,599	$610,617	$467,556	$-142,018
2021	$541,781	$518,776	$520,728	$23,005
2020	$510,225	$567,087	$145,583	$-56,862
2019	$625,857	$651,940	$123,793	$-26,083
2018	$631,557	$651,419	$161,059	$-19,862

BANGOR REGION CHAMBER OF COMMERCE