GREATER HOLYOKE 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

1996

Legal Domicile

Principal Officer

HARRY MONTALVO

Phone

4135343376

Tax Period

2019-07-01 to 2020-06-30

GREATER HOLYOKE CHAMBER OF COMMERCE, founded in 1996, is a small nonprofit that reported $196K in total revenue in fiscal year 2019. Revenue fell 38% from the prior year — a significant decline worth monitoring. Expenses of $246K exceeded revenue, resulting in a 25% operating deficit.

Mission

TO STRENGTHEN THE ECONOMY OF GREATER HOLYOKE BY REPRESENTING AND INVOLVING THE BUSINESS COMMUNITY IN PUBLIC POLICY DECISIONS AFFECTING THE BUSINESS CLIMATE, BY HELPING INDIVIDUAL BUSINESSES PROSPER, AND BY CREATING A COMMUNITY ENVIRONMENT CONDUCIVE TO ECONOMIC OPPORTUNITY.

Program Service Accomplishments

Program 1

PROGRAM SERVICES THAT ARE IN LINE WITH THE COMPANY MISSION OF HELPING BUSINESS PROSPER AND CREATING A COMMUNITY ENVIRONMENT CONDUCIVE TO ECONOMIC OPPORTUNITY AND A POSITIVE BUSINESS CLIMATE...

PROGRAM SERVICES THAT ARE IN LINE WITH THE COMPANY MISSION OF HELPING BUSINESS PROSPER AND CREATING A COMMUNITY ENVIRONMENT CONDUCIVE TO ECONOMIC OPPORTUNITY AND A POSITIVE BUSINESS CLIMATE, INCLUDING THE AWARDS THAT RECOGNIZE OPERATIONAL EXCELLENCE FOR BOTH BUSINESSES AND NON-PROFIT ORGANIZATIONS.

Program 2

VARIOUS EVENTS PROVIDING MEMBERS WITH OPPORTUNITIES TO DEVELOP MARKETS, EXPERTISE AND PROFITABILITY AND TO NETWORK WITH OTHER BUSINESSES. SOME OF THE EVENTS TYPICALLY HELD BY THE CHAMBER WERE...

VARIOUS EVENTS PROVIDING MEMBERS WITH OPPORTUNITIES TO DEVELOP MARKETS, EXPERTISE AND PROFITABILITY AND TO NETWORK WITH OTHER BUSINESSES. SOME OF THE EVENTS TYPICALLY HELD BY THE CHAMBER WERE POSTPONED DUE TO COVID RESTRICTIONS.

Program 3

ASSISTED CITY OF HOLYOKE WITH COVID-19 HOLYOKE BUSINESS EMERGENCY OPERATIONS GRANT PROGRAM. TWO BOARD MEMBERS OF THE CHAMBER SERVED AS REPRESENTATIVES ON A COMMITTEE THAT REVIEWED APPLICATIONS...

ASSISTED CITY OF HOLYOKE WITH COVID-19 HOLYOKE BUSINESS EMERGENCY OPERATIONS GRANT PROGRAM. TWO BOARD MEMBERS OF THE CHAMBER SERVED AS REPRESENTATIVES ON A COMMITTEE THAT REVIEWED APPLICATIONS SUBMITTED FOR THIS FUNDING TO DETERMINE ELIGIBILITY. THE CHAMBER WILL BE RESPONSIBLE FOR COORDINATING THE PAYOUT OF THE PROGRAM FUNDS TO THE ELIGIBLE APPLICANTS.

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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 (2019)

Revenue Breakdown

Contributions & Grants $14,946

Program Service Revenue $167,848

Investment Income $341

Other Revenue $12,894

TOTAL REVENUE $196,029

Expense Breakdown

Grants Paid $6,000

Salaries & Benefits $160,964

Fundraising Expenses $0

Other Expenses $78,962

TOTAL EXPENSES $245,926

Year-over-Year Comparison

	2019	2018	Change
Revenue	$196,029	$314,569	-0.4%
Expenses	$245,926	$312,698	-0.2%
Net Income	$-49,897	$1,871	-27.7%

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

$57,858

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL FILOMENO	2ND VICE-CHAIRPERSON	1.00	Director	$0	$0	$0
KEVIN MCCAFFREY	CHAIRPERSON	1.00	Director	$0	$0	$0
MARGARET MANTONI	PAST CHAIRPERSON	1.00	Officer Director	$0	$0	$0
JOHN DRISCOLL	CLERK	1.00	Officer Director	$0	$0	$0
JAMES LAVELLE	ASSITANT TREASURER	1.00	Director	$0	$0	$0
PATRICIA SPRADLEY	DIRECTOR	1.00	Director	$0	$0	$0
HARRY MONTALVO	FIRST VICE CHAIRPERSON	1.00	Director	$0	$0	$0
EILEEN LEAHY	DIRECTOR	1.00	Director	$0	$0	$0
MARIA FERRER	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE MULRY	DIRECTOR	1.00	Director	$0	$0	$0
JACOB PERKINS	DIRECTOR	1.00	Director	$0	$0	$0
AMANDA SBRASCIA	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN SULLIVAN	DIRECTOR	1.00	Director	$0	$0	$0
LISA WRAY	DIRECTOR	1.00	Director	$0	$0	$0
MASON LEBRON	DIRECTOR	1.00	Director	$0	$0	$0
JESSICA DUPONT	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK MCINTYRE	DIRECTOR	1.00	Director	$0	$0	$0
LAUREN TABIN	DIRECTOR	1.00	Director	$0	$0	$0
SONIAH GONZALEZ	FINANCIAL MANAGER	37.50	Officer	$46,728	$11,130	$57,858
ANDREA MARION	PRESIDENT	37.50	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
2020	$196,029	$245,926	$40,230	$-49,897
2019	$314,569	$312,698	$162,015	$1,871
2018	$436,753	$423,509	$176,679	$13,244