CHAMBER OF COMMERCE OF HORNELL NEW YORK INC

EIN: 160847479

HORNELL, NY

Total Revenue
$80,941
Total Expenses
$115,390
Total Assets
$443,167
Net Assets
$441,791
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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
1955
Legal Domicile
NY
Principal Officer
MIKE NISBET
Phone
6073240310
Tax Period
2024-01-01 to 2024-12-31

CHAMBER OF COMMERCE OF HORNELL NEW YORK INC, founded in 1955, is a micro nonprofit that reported $81K in total revenue in fiscal year 2024. Revenue fell 79% from the prior year — a significant decline worth monitoring. Expenses of $115K exceeded revenue, resulting in a 43% operating deficit.

Mission

ACTION-ORIENTED MEMBERSHIP ORGANIZATION OPERATING IN THE FIELDS OF ECONOMIC DEVELOPMENT, TRANSPORTATION PLANNING, GOVERNMENTAL AFFAIRS AND SMALL BUSINESS DEVELOPMENT TO ADVOCATE FOR LOCAL BUSINESS.

Program Service Accomplishments

Program 1
Expenses: $75,860

STIMULATE TRADE AND COMMERCE AND IMPROVE BUSINESS AND FINANCIAL CONDITION OF THE HORNELL AREA THROUGH VARIOUS PROMOTIONAL ACTIVITIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $74,293
Program Service Revenue $3,388
Investment Income $3,260
Other Revenue $0
TOTAL REVENUE $80,941

Expense Breakdown

Grants Paid $0
Salaries & Benefits $60,607
Fundraising Expenses $0
Program Expenses $75,860
Other Expenses $54,783
TOTAL EXPENSES $115,390

Year-over-Year Comparison

2024 2023 Change
Revenue $80,941 $381,107 -0.8%
Expenses $115,390 $92,823 +0.2%
Net Income $-34,449 $288,284 -1.1%
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
18
Independent Members
18
Employees
2
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
5
$10,000
Total Directors
18
$10,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MIKE DAVIDSON CHAIRMAN 2.00
Officer Director
$0 $0 $0
ED FLAITZ VICE CHAIRMAN 2.00
Officer Director
$0 $0 $0
JEREMY BITTEL VICE CHAIRMAN 2.00
Officer Director
$0 $0 $0
TOM BEERS SECRETARY/TREASURER 2.00
Officer Director
$0 $0 $0
MICHAEL NISBET PRESIDENT 10.00
Officer Director
$10,000 $0 $10,000
BRETT AHRENS DIRECTOR 2.00
Director
$0 $0 $0
DAVE PARMLEY DIRECTOR 2.00
Director
$0 $0 $0
DR RICHARD ANDOLINA DIRECTOR 2.00
Director
$0 $0 $0
JEREMY PALOTTI DIRECTOR 2.00
Director
$0 $0 $0
ROBERT PEISHER DIRECTOR 2.00
Director
$0 $0 $0
VALERIE SLAGHT DIRECTOR 2.00
Director
$0 $0 $0
TRACY STILLMAN DIRECTOR 2.00
Director
$0 $0 $0
TOM MATACLE DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL HUBRIC DIRECTOR 2.00
Director
$0 $0 $0
MICHELLE POUGE DIRECTOR 2.00
Director
$0 $0 $0
DAVE PALMA DIRECTOR 2.00
Director
$0 $0 $0
KRISTOPH KOCAN DIRECTOR 2.00
Director
$0 $0 $0
WENDY DISBROW DIRECTOR 2.00
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 $80,941 $115,390 $443,167 $-34,449
2023 $381,107 $92,823 $478,058 $288,284
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