FALMOUTH CHAMBER OF COMMERCE INC

EIN: 042323418

FALMOUTH, MA

Total Revenue
$325,453
Total Expenses
$358,490
Total Assets
$115,778
Net Assets
$53,453
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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
1914
Legal Domicile
MA
Principal Officer
MICHAEL KASPARIAN
Phone
5085488500
Tax Period
2024-01-01 to 2024-12-31

FALMOUTH CHAMBER OF COMMERCE INC, founded in 1914, is a small nonprofit that reported $325K in total revenue in fiscal year 2024. Expenses of $358K exceeded revenue, resulting in a 10% operating deficit.

Mission

DEVELOPMENT OF COMMERCE AND TOURISM

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $139,813
Program Service Revenue $102,116
Investment Income $32
Other Revenue $83,492
TOTAL REVENUE $325,453

Expense Breakdown

Grants Paid $0
Salaries & Benefits $217,124
Fundraising Expenses $0
Other Expenses $141,366
TOTAL EXPENSES $358,490

Year-over-Year Comparison

2024 2023 Change
Revenue $325,453 $315,653 +0.0%
Expenses $358,490 $360,466 0.0%
Net Income $-33,037 $-44,813 -0.3%
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

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Governance

Voting Members
15
Independent Members
15
Employees
3
Volunteers
12

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
1
$111,668
Total Directors
14
$0
Key Employees
1
$111,668
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVEN PETERS VICE CHAIRMAN 1.00
Director
$0 $0 $0
JIM UNDERDAH TREASURER 1.00
Director
$0 $0 $0
KAREN RINALDO CHAIRMAN 1.00
Director
$0 $0 $0
TIM DUFFANY DIRECTOR 1.00
Director
$0 $0 $0
BRIAN LOEWEN DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL KASPARIAN PRESIDENT 40.00
Officer Key Emp Highest
$111,668 $0 $111,668
JIM MURRAY DIRECTOR 1.00
Director
$0 $0 $0
DEBORAH DOUGHERTY DIRECTOR 1.00
Director
$0 $0 $0
ERIK ATKINSON DIRECTOR 1.00
Director
$0 $0 $0
TERI FERRIERA-KEYES CLERK 1.00
Director
$0 $0 $0
CHRISTOPHER LANGLAIS DIRECTOR 1.00
Director
$0 $0 $0
BETTY WEST DIRECTOR 1.00
Director
$0 $0 $0
COLIN REED DIRECTOR 1.00
Director
$0 $0 $0
HENRY ST JULIEN DIRECTOR 1.00
Director
$0 $0 $0
MEGAN FAULKNER 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 $325,453 $358,490 $115,778 $-33,037
2023 $315,653 $360,466 $142,141 $-44,813
2022 $290,306 $347,898 $191,815 $-57,592
2021 $310,517 $345,644 $223,362 $-35,127
2020 $294,740 $315,544 $256,123 $-20,804
2019 $324,157 $340,114 $231,250 $-15,957
2018 $322,506 $337,932 $246,723 $-15,426
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