CHAMBER OF COMMERCE OF NORTHWEST CT

EIN: 060564714

TORRINGTON, CT

Total Revenue
$563,562
Total Expenses
$640,678
Total Assets
$676,235
Net Assets
$577,327
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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
1901
Legal Domicile
CT
Principal Officer
JoAnn M Ryan
Phone
8604826586
Tax Period
2023-01-01 to 2023-12-31

CHAMBER OF COMMERCE OF NORTHWEST CT, founded in 1901, is a small nonprofit that reported $564K in total revenue in fiscal year 2023. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $641K exceeded revenue, resulting in a 14% operating deficit.

Mission

Advance the economic, industrial, cultural and civic welfare of Northwest Connecticut by promoting the physical, economic and human resources of the area

Program Service Accomplishments

Program 1

Membership Development and Services

Program 2

Publications and Membership Directory

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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 (2023)

Revenue Breakdown

Contributions & Grants $182,326
Program Service Revenue $367,266
Investment Income $6,391
Other Revenue $7,579
TOTAL REVENUE $563,562

Expense Breakdown

Grants Paid $0
Salaries & Benefits $367,034
Fundraising Expenses $0
Other Expenses $273,644
TOTAL EXPENSES $640,678

Year-over-Year Comparison

2023 2022 Change
Revenue $563,562 $1,030,899 -0.5%
Expenses $640,678 $566,767 +0.1%
Net Income $-77,116 $464,132 -1.2%
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

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Governance

Voting Members
26
Independent Members
26
Employees
4
Volunteers
100

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
5
$125,852
Total Directors
30
$125,852
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JoAnn M Ryan President 35.00
Officer Director
$121,185 $4,667 $125,852
Maria Gonzalez Vice Chairwoman 2.00
Officer Director
$0 $0 $0
Gina Mariano Bunch Secretary 2.00
Officer Director
$0 $0 $0
Jade LaBella Director 1.00
Director
$0 $0 $0
Christina McCulloch Director 1.00
Director
$0 $0 $0
Carolyn Morrison past chairman 1.00
Director
$0 $0 $0
Ted Shafer Treasurer 2.00
Officer Director
$0 $0 $0
Jacque Williams Chairwoman 2.00
Officer Director
$0 $0 $0
Sandy Evans Director 1.00
Director
$0 $0 $0
Chris DuPont Director 1.00
Director
$0 $0 $0
Evan Berns Director 1.00
Director
$0 $0 $0
Todd Bailey Director 1.00
Director
$0 $0 $0
Joanne Borduas Director 1.00
Director
$0 $0 $0
Katharine L Briggs Director 1.00
Director
$0 $0 $0
Moe Chislum Director 1.00
Director
$0 $0 $0
Joyce Germano Director 1.00
Director
$0 $0 $0
Stephen Mazzarelli Director 1.00
Director
$0 $0 $0
David Oliver Director 1.00
Director
$0 $0 $0
Vanessa Meehan Director 1.00
Director
$0 $0 $0
Ida Mussen Director 1.00
Director
$0 $0 $0
Rob Phillips Director 1.00
Director
$0 $0 $0
Art Mulligan Director 1.00
Director
$0 $0 $0
Erick Royer Director 1.00
Director
$0 $0 $0
Stephen Ivain Director 1.00
Director
$0 $0 $0
George Logan Director 1.00
Director
$0 $0 $0
Greg Tonon Director 1.00
Director
$0 $0 $0
Michael Rooke Director 0.00
Director
$0 $0 $0
Patrick Finn Director 1.00
Director
$0 $0 $0
Christopher Main Director 1.00
Director
$0 $0 $0
Matthew Koehler 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 $563,562 $640,678 $676,235 $-77,116
2022 $1,030,899 $566,767 $773,668 $464,132
2021 $627,693 $509,087 $332,654 $118,606
2020 $614,685 $529,429 $258,862 $85,256
2019 $660,303 $618,325 $222,746 $41,978
2018 $703,616 $661,962 $250,130 $41,654
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