ELLSWORTH AREA CHAMBER OF COMMERCE

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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

1956

Legal Domicile

Principal Officer

AMY D BOLES

Phone

2076675584

Tax Period

2024-07-01 to 2025-06-30

ELLSWORTH AREA CHAMBER OF COMMERCE, founded in 1956, is a small nonprofit that reported $418K in total revenue in fiscal year 2024. Expenses of $403K left a modest 4% surplus.

Mission

OUR MISSION IS TO ENCOURAGE, PROMOTE, AND SUPPORT THE GROWTH AND DEVELOPMENT OF COMMERCE TO ENHANCE THE QUALITY OF LIFE IN OUR COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $62,467 Revenue: $34,293

THE CHAMBER'S LARGEST CITY WIDE EVENT TAKES PLACE THE FOURTH WEEKEND IN SEPTEMBER, AUTUMN GOLD DRAWS THOUSANDS OF VISITORS FROM THE REGION AND AWAY TO TAKE ADVANTAGE OF FALL IN NEW ENGLAND. SIGNATURE EVENTS INCLUDE A CAR SHOW, CHOWDER TASTING ON THE WATERFRONT; FREE BOAT RIDES ON THE UNION RIVER, AND MANY MORE EVENTS, INCLUDING PRESENTATIONS, MUSIC, THEATER, CRAFT FAIRS, CHILDREN'S EVENTS AND MORE. THE EVENT IS OVER THREE DECADES OLD AND EACH YEAR GROWS OR CHANGES TO REFLECT THE COMMUNITIES' INTERESTS. IT IS A TRUE ECONOMIC DRIVER FOR THE REGION, AS THE CHAMBER MARKETS THE EVENT HEAVILY STATEWIDE THRU TV, RADIO, AND PRINT MEDIA.

Program 2

Expenses: $21,512 Revenue: $17,740

OUR EDUCATIONAL PROGRAMS PROVIDE OUR BUSINESSES WITH TIMELY AND IMPORTANT INFORMATION AT A SIGNIFICANTLY REDUCED COST. EVERYTHING FROM HUMAN RESOURCES, FINANCIAL AND BUSINESS DEVELOPMENT ARE OFFERED THRU THE YEAR. LEADERSHIP HANCOCK COUNTY A PROGRAM UNDER THE CHAMBER, PROVIDING INTENSIVE LEADERSHIP TRAINING TO MANAGERS, OWNERS AND UPWARDLY MOBILE PROFESSIONALS, ALLOWING FOR COMPANIES TO OFFER PROFESSIONAL DEVELOPMENT FOR THEIR EMPLOYEES, MAKING RETENTION STRONGER.

Program 3

Expenses: $104,362 Revenue: $80,964

OUR HANCOCK COUNTY BUSINESS CONFERENCE AND TRADE SHOW ALTERNATES EACH YEAR BETWEEN A TRADE SHOW AND A FULL-DAY BUSINESS CONFERENCE. BOTH THE TRADESHOW AND FULL DAY CONFERENCE ALLOW OUR BUSINESSES TO SHARE INFORMATION, GET EDUCATION LOCALLY AND PROVIDE AN ECONOMIC BENEFIT TO OUR LOCAL BUSINESS ECONOMY.

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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 $248,466

Program Service Revenue $168,595

Investment Income $391

Other Revenue $731

TOTAL REVENUE $418,183

Expense Breakdown

Grants Paid $0

Salaries & Benefits $140,321

Fundraising Expenses $0

Program Expenses $402,769

Other Expenses $262,448

TOTAL EXPENSES $402,769

Year-over-Year Comparison

	2024	2023	Change
Revenue	$418,183	$415,583	+0.0%
Expenses	$402,769	$429,974	-0.1%
Net Income	$15,414	$-14,391	-2.1%

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

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
AMY D BOLES	PRESIDENT	1.00	Officer Director	$0	$0	$0
BRIANA BRAGG	DIRECTOR	0.50	Director	$0	$0	$0
KELLEY COLUMBER	DIRECTOR	0.50	Director	$0	$0	$0
KATHY COOK	SECRETARY	1.00	Officer Director	$0	$0	$0
LINDA ELLIOT	TREASURER	1.00	Director	$0	$0	$0
AMANDA ASHE LOOK	DIRECTOR	0.50	Director	$0	$0	$0
PATRICK MCGUIRE	DIRECTOR	0.50	Director	$0	$0	$0
DIANE O'CONNELL	DIRECTOR	0.50	Director	$0	$0	$0
LAURA PELLERANO	DIRECTOR	0.50	Director	$0	$0	$0
CRYSTAL RICHARDS	VICE PRESIDE	1.00	Director	$0	$0	$0
REBECCA SARGENT	DIRECTOR	0.50	Director	$0	$0	$0
CYNTHIA SHOPPE	DIRECTOR	0.50	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
2025	$418,183	$402,769	$117,936	$15,414
2024	No data	No data	No data	No data
2023	$387,547	$432,543	$130,307	$-44,996
2022	$419,121	$390,768	$166,595	$28,353
2021	$345,661	$345,045	$153,819	$616
2020	$337,389	$324,813	$167,257	$12,576
2019	$431,394	$429,538	$160,468	$1,856
2018	$343,864	$351,822	$153,258	$-7,958