THE NEW MILFORD 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

1931

Legal Domicile

Principal Officer

JENNIFER BIRDSEYE

Phone

8603546080

Tax Period

2023-01-01 to 2023-12-31

THE NEW MILFORD CHAMBER OF COMMERCE, founded in 1931, is a micro nonprofit that reported $94K in total revenue in fiscal year 2023. Revenue surged 48% from the prior year, signaling strong growth momentum. Expenses of $113K exceeded revenue, resulting in a 20% operating deficit.

Mission

TO DEVELOP, ENCOURAGE, PROMOTE, AND PROTECT THE COMMERCIAL, INDUSTRIAL, PROFESSIONAL AND GENERAL BUSINESS INTERESTS OF THE COMMUNITY; AND TO PROMOTE THE CIVIC INTERESTS AND GENERAL WELFARE OF THE TOWN OF NEW MILFORD AND ITS TRADE AREA.

Program Service Accomplishments

Program 1

THE ORGANIZATION PROVIDES DIRECTION AND ASSISTANCE IN RUNNING COMMUNITY EVENTS AND ACTIVITIES WHICH PROMOTE THE INTERESTS OF LOCAL BUSINESSES AND RESIDENTS.

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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 $61,036

Program Service Revenue $0

Investment Income $3,805

Other Revenue $29,188

TOTAL REVENUE $94,029

Expense Breakdown

Grants Paid $2,000

Salaries & Benefits $87,588

Fundraising Expenses $0

Other Expenses $23,288

TOTAL EXPENSES $112,876

Year-over-Year Comparison

	2023	2022	Change
Revenue	$94,029	$63,741	+0.5%
Expenses	$112,876	$76,748	+0.5%
Net Income	$-18,847	$-13,007	+0.4%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICIA OBERG	DIRECTOR	1.00	Director	$0	$0	$0
WAYNE LOCKE	DIRECTOR	1.00	Director	$0	$0	$0
CHEYRISSE BOONE	DIRECTOR	1.00	Director	$0	$0	$0
KRISTEN GIZZI	DIRECTOR	1.00	Director	$0	$0	$0
RICH VALLINAGGI	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT MULHARE	TREASURER	3.00	Officer	$0	$0	$0
JENNIFER BIRDSEYE	PRESIDENT	5.00	Officer	$0	$0	$0
TAMMY REARDON	1ST VICE PRESIDENT	3.00	Officer	$0	$0	$0
RICHARD HERRINGTON	2ND VICE PRESIDENT	3.00	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
2024	No data	No data	No data	No data
2023	$94,029	$112,876	$81,023	$-18,847
2022	$63,741	$76,748	$101,840	$-13,007
2021	$63,597	$43,044	$135,807	$20,553
2020	$83,635	$69,156	$94,183	$14,479
2019	$129,925	$151,640	$101,388	$-21,715
2018	$151,879	$160,469	$103,289	$-8,590