OLD SAYBROOK CHAMBER OF COMMERCE I… - Form 990 Financial Data

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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

1939

Legal Domicile

Principal Officer

DAVE CARSWELL

Phone

8603883266

Tax Period

2023-01-01 to 2023-12-31

OLD SAYBROOK CHAMBER OF COMMERCE INC, founded in 1939, is a small nonprofit that reported $302K in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $284K left a modest 6% surplus.

Mission

THE OLD SAYBROOK CHAMBER OF COMMERCE IS A NON-PROFIT MEMBERSHIP ORGANIZATION DEDICATED TO ENHANCING THE ECONOMIC VITALITY AND QUALITY OF LIFE IN THE GREATER OLD SAYBROOK AREA, INCLUDING THE NINE TOWNS COMMONLY KNOWN AS THE CONNECTICUT RIVER ESTUARY REGION. THROUGH A CORE OF VOLUNTEERS AND A PROFESSIONAL STAFF, THE CHAMBER PROVIDES LEADERSHIP, SUPPORT AND NETWORKING WITHIN THE BUSINESS COMMUNITY. THE CHAMBER HOSTS COMMUNITY EVENTS AND SERVES AS A CATALYST TO PROMOTE TOURISM, TO SUPPORT EDUCATIONAL OUTREACH, AND TO ACT AS AN INFORMATIONAL RESOURCE AND PUBLIC RELATIONS CENTER.

Program Service Accomplishments

Program 1

The Greater Old Saybrook Chamber of Commerce has approximately 465 members. The Chamber sponsores several community events, including the Chili Fest which had an estimated 3,000 attendees. The 58th Annual Arts & Crafts Festival ATTRACTED APPROXIMATELY 6,000 ART ENTHUSIASTS. 300 RUNNERS PARTICIPATED IN THE SAYBROOK POINT 5K AND THE ANNUAL GOLF TOURNAMENT HAD 100 GOLFERS IN 2023. An estimated 800 individuals visited the Chamber office at the head of Main Street in 2023. The Chamber also produced a tourist guide and distributed 20,000 copies.

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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 $945

Program Service Revenue $300,299

Investment Income $754

Other Revenue $0

TOTAL REVENUE $301,998

Expense Breakdown

Grants Paid $3,000

Salaries & Benefits $142,910

Fundraising Expenses $0

Other Expenses $138,153

TOTAL EXPENSES $284,063

Year-over-Year Comparison

	2023	2022	Change
Revenue	$301,998	$245,448	+0.2%
Expenses	$284,063	$248,131	+0.1%
Net Income	$17,935	$-2,683	-7.7%

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

$79,040

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JUDY SULLIVAN	Executive Dir.	50.00	Officer	$79,040	$0	$79,040
BRENDAN REDFIELD	Director	3.00	Director	$0	$0	$0
DAN KING	Treasurer	5.00	Officer Director	$0	$0	$0
BRETT ELLIOTT	Director	3.00	Director	$0	$0	$0
CJ JACK	Director	3.00	Director	$0	$0	$0
DAVE CARSWELL	President	5.00	Officer Director	$0	$0	$0
SALLY LEE	Director	3.00	Director	$0	$0	$0
BRITTNI OXENDINE	Director	3.00	Officer Director	$0	$0	$0
TONY MARINO	Vice President	5.00	Director	$0	$0	$0
SUSAN TAYLOR	Director	3.00	Director	$0	$0	$0
HEATHER MILARDO	Director	3.00	Director	$0	$0	$0
KEVIN KENNEDY	Vice President	5.00	Director	$0	$0	$0
SHARON LEWIS	Director	3.00	Director	$0	$0	$0
CHRIS BIRD	Director	3.00	Director	$0	$0	$0
KARA GANSSLE PACHNIUK	Secretary	5.00	Officer Director	$0	$0	$0
CHANTAL LAWRENCE	Director	3.00	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	$301,998	$284,063	$215,879	$17,935
2022	$245,448	$248,131	$198,259	$-2,683
2021	$273,253	$204,727	$201,062	$68,526
2019	$236,984	$301,578	$134,911	$-64,594
2018	$226,445	$226,160	$140,590	$285

OLD SAYBROOK CHAMBER OF COMMERCE INC