LAKES REGION CHAMBER OF COMMERCE (EIN 020155643) - 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

Legal Domicile

Principal Officer

TED FODERO

Phone

6035245531

Tax Period

2023-01-01 to 2023-12-31

LAKES REGION CHAMBER OF COMMERCE is a small nonprofit in the Community Improvement sector that reported $263K in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum.

Mission

TO ADVANCE THE COMMUNITIES OF THE LAKES REGION BY FOSTERING THE GROWTH OF THE MULTI-FACETED BUSINESS COMMUNITY THROUGH PROMOTION AND ENHANCEMENT OF THE AREA'S DIVERSE CIVIC, ECONOMIC, CULTURAL, HISTORICAL AND SOCIAL RESOURCES AND BY WORKING WITH OTHER ORGANIZATIONS ON ISSUES OF BROAD COMMUMITY INTERESTS.

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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 $0

Program Service Revenue $251,541

Investment Income $19

Other Revenue $11,403

TOTAL REVENUE $262,963

Expense Breakdown

Grants Paid $0

Salaries & Benefits $141,415

Fundraising Expenses $11,313

Other Expenses $128,820

TOTAL EXPENSES $270,235

Year-over-Year Comparison

	2023	2022	Change
Revenue	$262,963	$216,751	+0.2%
Expenses	$270,235	$222,880	+0.2%
Net Income	$-7,272	$-6,129	+0.2%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICK BROWN	DIRECTOR	1.00	Director	$0	$0	$0
LISA BYARS	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN CHALMERS	DIRECTOR	1.00	Director	$0	$0	$0
LORRIE DETERMANN	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER DICKINSON	PAST CHAIRMA	1.00	Director	$0	$0	$0
ADAM HIRSHAN	DIRECTOR	1.00	Director	$0	$0	$0
NIKKI LYONS LAHEY	DIRECTOR	1.00	Director	$0	$0	$0
JEFF MILLS	DIRECTOR	1.00	Director	$0	$0	$0
NICOLE MURRAY	DIRECTOR	1.00	Director	$0	$0	$0
DIRK NADON	1ST VICE CHA	1.00	Director	$0	$0	$0
CONNOR O'NEILL	DIRECTOR	1.00	Director	$0	$0	$0
JASON OLSON	DIRECTOR	1.00	Director	$0	$0	$0
KARA OLSON	DIRECTOR	1.00	Director	$0	$0	$0
LORA PIATTI	DIRECTOR	1.00	Director	$0	$0	$0
ERIC PROULX	DIRECTOR	1.00	Director	$0	$0	$0
BRIE STEPHENS	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT STEWART	DIRECTOR	1.00	Director	$0	$0	$0
SHAWNA YOUNG	DIRECTOR	1.00	Director	$0	$0	$0
TED FODERO	CHAIR	1.00	Officer	$0	$0	$0
DON ST GELAIS	2ND VICE CHA	1.00	Officer	$0	$0	$0
GRACE MCNAMARA	SECRETARY	1.00	Officer	$0	$0	$0
PENNY RABY	TREASURER	1.00	Officer	$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	$262,963	$270,235	$294,824	$-7,272
2022	$216,751	$222,880	$283,545	$-6,129
2021	$263,852	$230,890	$302,322	$32,962
2020	$177,435	$178,120	$306,832	$-685
2020	$177,435	$168,120	$316,832	$9,315
2019	$291,805	$263,236	$284,372	$28,569
2018	$178,930	$167,904	$251,820	$11,026

LAKES REGION CHAMBER OF COMMERCE