CAPE ANN 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

1923

Legal Domicile

Principal Officer

MICHAEL LUSTER

Phone

9782831601

Tax Period

2023-01-01 to 2023-12-31

CAPE ANN CHAMBER OF COMMERCE, founded in 1923, is a small nonprofit that reported $767K in total revenue in fiscal year 2023. Revenue fell 25% from the prior year — a significant decline worth monitoring. Expenses of $916K exceeded revenue, resulting in a 19% operating deficit.

Mission

PROMOTION OF TOURISM ON CAPE ANN INCLUDING THE TOWNS OF ROCKPORT, GLOUCESTER, MANCHESTER, AND ESSEX MA.

Program Service Accomplishments

Program 1

PROMOTION OF TOURISM OF CAPE ANN INCLUDING THE TOWNS OF ROCKPORT, GLOUCESTER, MANCHESTER, ESSEX,AND IPSWICH.

Program 2

PROMOTE AND SUPPORT OUR MEMBERSHIP THROUGH NETWORKING, EDUCATION, AND REPRESENTATION OF BUSINESS TO THE GREATER CAPE ANN COMMUNITY.

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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 $187,434

Program Service Revenue $502,415

Investment Income $9,443

Other Revenue $67,819

TOTAL REVENUE $767,111

Expense Breakdown

Grants Paid $44,858

Salaries & Benefits $553,282

Fundraising Expenses $0

Other Expenses $318,210

TOTAL EXPENSES $916,350

Year-over-Year Comparison

	2023	2022	Change
Revenue	$767,111	$1,016,367	-0.2%
Expenses	$916,350	$985,463	-0.1%
Net Income	$-149,239	$30,904	-5.8%

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

$55,423

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATT BEACH	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL LUSTER	TREASURER	2.00	Officer	$0	$0	$0
SAM BEVINS	CLERK	40.00	Officer	$55,423	$0	$55,423
TONY SAPIENZA	DIRECTOR	1.00	Officer	$0	$0	$0
GERMAN DISLA	DIRECTOR	1.00	Officer	$0	$0	$0
KAREN RISTUBEN	PRESIDENT	2.00	Director	$0	$0	$0
CAITLIN PSZENNY	DIRECTOR	2.00	Officer	$0	$0	$0
GENASIS GOUGH	DIRECTOR	1.00	Director	$0	$0	$0
LORAN CAPUTO	DIRECTOR	2.00	Officer	$0	$0	$0
JIM BROWN	VICE-PRESIDENT	1.00	Director	$0	$0	$0
KEITH HARRIS	VICE-PRESIDENT	1.00	Director	$0	$0	$0
COLLEEN LANCE	DIRECTOR	1.00	Director	$0	$0	$0
ELI TIMMONS	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW MARQUES	DIRECTOR	1.00	Director	$0	$0	$0
TRINA SCHELL	DIRECTOR	1.00	Director	$0	$0	$0
RON ELKIN	DIRECTOR	1.00	Director	$0	$0	$0
CATHY LANOIS	DIRECTOR	1.00	Director	$0	$0	$0
LORAN RILEY GOVE	DIRECTOR	1.00	Director	$0	$0	$0
MARK LYNCH	DIRECTOR	1.00	Director	$0	$0	$0
CAROLE LYNN SHAROFF	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY VOLTERO	DIRECTOR	1.00	Director	$0	$0	$0
SAM O'NEAL	DIRECTOR	1.00	Director	$0	$0	$0
LISA SHANKO	DIRECTOR	1.00	Director	$0	$0	$0
JASON ANDREE	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	$767,111	$916,350	$442,621	$-149,239
2022	$1,016,367	$985,463	$596,921	$30,904
2021	$1,064,481	$910,564	$554,011	$153,917
2020	$629,872	$576,663	$645,688	$53,209
2019	$801,103	$740,003	$335,163	$61,100
2018	$779,854	$663,883	$272,468	$115,971