GREATER CORNING AREA CHAMBER OF COMMERCE INC (EIN 160393360) - Form 990 Financial Analysis & Trantor Score

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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

Principal Officer

COLLEEN CORO

Phone

6079364686

Tax Period

2023-01-01 to 2023-12-31

GREATER CORNING AREA CHAMBER OF COMMERCE INC, founded in 1914, is a small nonprofit that reported $349K in total revenue in fiscal year 2023. Expenses of $319K left a modest 9% surplus.

Mission

THE CORNING AREA CHAMBER OF COMMERCE SERVES AND ADVANCES REGIONAL BUSINESS INTERESTS IN SUPPORT OF A VIBRANT COMMUNITY. WE PROVIDE OUR MEMBERS WITH INDIVIDUALIZED OPPORTUNITIES TO GROW THROUGH NETWORK DEVELOPMENT, MARKETING, EDUCATION, AND ADVOCACY.

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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 $97,490

Program Service Revenue $238,338

Investment Income $4,967

Other Revenue $8,367

TOTAL REVENUE $349,162

Expense Breakdown

Grants Paid $0

Salaries & Benefits $198,002

Fundraising Expenses $0

Other Expenses $120,574

TOTAL EXPENSES $318,576

Year-over-Year Comparison

	2023	2022	Change
Revenue	$349,162	$350,975	0.0%
Expenses	$318,576	$425,921	-0.3%
Net Income	$30,586	$-74,946	-1.4%

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

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

$77,448

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
COLLEEN CORO	PRESIDENT	40.00	Officer	$72,437	$5,011	$77,448
LISA CARACCI	CHAIR	0.30	Officer Director	$0	$0	$0
JOHN SIRIANNI	TREASURER	0.30	Officer Director	$0	$0	$0
JEREMY PURIFOY	CHAIR-ELECT	0.30	Officer Director	$0	$0	$0
FRED ARCURI	DIRECTOR	0.30	Director	$0	$0	$0
GARRETT CALLAHAN	DIRECTOR	0.30	Director	$0	$0	$0
MICHELLE CAULFIELD	EX-OFFICIO	0.30	Director	$0	$0	$0
MICHELLE CILIP	DIRECTOR	0.30	Director	$0	$0	$0
MARY COSTELLO	DIRECTOR	0.30	Director	$0	$0	$0
COLEEN FABRIZI	EX-OFFICIO	0.30	Director	$0	$0	$0
CHRISTY KAGER	DIRECTOR	0.30	Director	$0	$0	$0
FELISSA KOERNIG	DIRECTOR	0.30	Director	$0	$0	$0
ELLEN LANAHAN	DIRECTOR	0.30	Director	$0	$0	$0
KEN LEATH	DIRECTOR	0.30	Director	$0	$0	$0
ASHLEIGH MADISION	DIRECTOR	0.30	Director	$0	$0	$0
DAN MEISNER	DIRECTOR	0.30	Director	$0	$0	$0
JULIE MONAHAN	DIRECTOR	0.30	Director	$0	$0	$0
KRISTEN MORSEMAN	DIRECTOR	0.30	Director	$0	$0	$0
TALI SUTTON	DIRECTOR	0.30	Director	$0	$0	$0
FRANK VASSALLO	DIRECTOR	0.30	Director	$0	$0	$0
MICHAEL REESE	DIRECTOR	0.30	Director	$0	$0	$0
LINDSAY CUDA	DIRECTOR	0.30	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	$349,162	$318,576	$293,254	$30,586
2022	$350,975	$425,921	$245,351	$-74,946
2021	$409,665	$424,688	$297,288	$-15,023
2020	$374,280	$454,993	$314,934	$-80,713
2019	$495,269	$493,832	$231,897	$1,437
2018	$494,310	$509,976	$233,819	$-15,666

GREATER CORNING AREA CHAMBER OF COMMERCE INC