GREATER NEWPORT 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

1920

Legal Domicile

Principal Officer

ERIN DONOVAN-BOYLE

Phone

4018471608

Tax Period

2024-01-01 to 2024-12-31

GREATER NEWPORT CHAMBER OF COMMERCE, founded in 1920, is a small nonprofit that reported $593K in total revenue in fiscal year 2024.

Mission

THE CHAMBER SERVES THE GENERAL ECONOMIC WELFARE OF NEWPORT COUNTY BY PROMOTION OF TOURISM, PUBLISHING DIRECTORIES OF RESOURCES AVAILABLE, DEVELOPING PROGRAMS TO PROMOTE BUSINESS CLIMATE AND SIMILAR PROJECTS.

Program Service Accomplishments

Program 1

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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 $327,401

Program Service Revenue $220,448

Investment Income $11,976

Other Revenue $33,440

TOTAL REVENUE $593,265

Expense Breakdown

Grants Paid $0

Salaries & Benefits $454,509

Fundraising Expenses $0

Other Expenses $172,484

TOTAL EXPENSES $626,993

Year-over-Year Comparison

	2024	2023	Change
Revenue	$593,265	$613,400	0.0%
Expenses	$626,993	$658,539	0.0%
Net Income	$-33,728	$-45,139	-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

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

$134,306

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIN DONOVAN-BOYLE	PRESIDENT &	40.00	Officer	$134,306	$0	$134,306
GAIL ALOFSIN	EXECUTIVE CO	N/A	Director	$0	$0	$0
KIM CAIRO	DIRECTOR	N/A	Director	$0	$0	$0
BILL CARDINAL	DIRECTOR	N/A	Director	$0	$0	$0
LAURA CORISTINE	DIRECTOR	N/A	Director	$0	$0	$0
RICHARD CROMWELL	CHAIR	N/A	Officer Director	$0	$0	$0
BILL DEWITT	DIRECTOR	N/A	Director	$0	$0	$0
MORGAN EVERSON	DIRECTOR	N/A	Director	$0	$0	$0
MIKE FALCONE	DIRECTOR	N/A	Director	$0	$0	$0
FRANK FLANAGAN	DIRECTOR	N/A	Director	$0	$0	$0
MATT GIRARD	DIRECTOR	N/A	Director	$0	$0	$0
JOSEPH NICHOLSON JR	SECRETARY	N/A	Director	$0	$0	$0
ROCKY KEMPENAAR	DIRECTOR	N/A	Director	$0	$0	$0
SANDY KRISTIANSSON	DIRECTOR	N/A	Director	$0	$0	$0
MARY JOY LU	DIRECTOR	N/A	Director	$0	$0	$0
LELAND MERRILL	TREASURER	N/A	Officer Director	$0	$0	$0
MICHAEL MONTI	DIRECTOR	N/A	Director	$0	$0	$0
JOHN O'CONOR	DIRECTOR	N/A	Director	$0	$0	$0
BRENDAN O'DONNELL	DIRECTOR	N/A	Director	$0	$0	$0
KEVIN O'LEARY	DIRECTOR	N/A	Director	$0	$0	$0
CRISTINA OFFENBERG	LEGAL COUNSE	N/A	Officer Director	$0	$0	$0
JENNY PARTRIDGE	DIRECTOR	N/A	Director	$0	$0	$0
LISA RAIOLA	DIRECTOR	N/A	Director	$0	$0	$0
EVAN ROSE	DIRECTOR	N/A	Director	$0	$0	$0
JAIRO RUGEL	DIRECTOR	N/A	Director	$0	$0	$0
BRIAN SCHUSTER	DIRECTOR	N/A	Director	$0	$0	$0
CRAIG SCULOS	EXECUTIVE CO	N/A	Director	$0	$0	$0
ANDREW TAVARES	CHAIRMAN-EX-	N/A	Officer Director	$0	$0	$0
NATHAN TILMAN	DIRECTOR	N/A	Director	$0	$0	$0
MELISSA VARAO	VICE CHAIR	N/A	Officer Director	$0	$0	$0
MATT VARGAS	EXECUTIVE CO	N/A	Director	$0	$0	$0
BRIAN WILIAMS	DIRECTOR	N/A	Director	$0	$0	$0
RICHARD WILLIS	DIRECTOR	N/A	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	$593,265	$626,993	$712,577	$-33,728
2023	$613,400	$658,539	$724,420	$-45,139
2022	$606,346	$637,205	$782,544	$-30,859
2021	$720,886	$654,853	$814,195	$66,033
2020	$747,070	$621,914	$771,256	$125,156
2018	$931,109	$736,817	$870,165	$194,292