SENECA COUNTY 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

1968

Legal Domicile

Principal Officer

JEFFERY SHIPLEY

Phone

3155682906

Tax Period

2024-01-01 to 2024-12-31

SENECA COUNTY CHAMBER OF COMMERCE, founded in 1968, is a small nonprofit that reported $922K in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $839K left a modest 9% surplus.

Mission

THE SENECA COUNTY CHAMBER PROMOTES ECONOMIC GROWTH AND DEVELOPMENT IN THE SENECA COUNT, NY AREA. IT OFFERS AN INTREGRITY-BASED, LEADING VOICE FOR BUSINESS THAT IS FOCUSED ON SUPPORTING COMMUNITY PARTNERSHIPS, PROVIDING EDUCATION INITIATIVES AND PROMOTING TOURISM.

Program Service Accomplishments

Program 1

BUSINESS DEVELOPMENT - HELPS ALL BUSINESS CREAT OPPORTUNITIES FOR GROWTH AND EXPANSION WITH AN EMPHASIS ON SMALL BUSINESS BY LEVERAGING REGIONAL PARTNERSHIPS, PROVIDING EDUCATIONAL RESOURCES AND...

BUSINESS DEVELOPMENT - HELPS ALL BUSINESS CREAT OPPORTUNITIES FOR GROWTH AND EXPANSION WITH AN EMPHASIS ON SMALL BUSINESS BY LEVERAGING REGIONAL PARTNERSHIPS, PROVIDING EDUCATIONAL RESOURCES AND COORDINATING BUSINESS TO BUSINESS NETWORKING OPPORTUNITIES.

Program 2

TOURISM PROMOTION - DEVELOPS STRATEGICE MARKETING PROGRAMS TO STRENGTHEN OUR LOCAL ECONOMY AND ENHANCE THE QUALITY OF LIFE THROUGHOUT OUR REGION BY CREATING AND DISTRIBUTING TOURISM COLLATERAL...

TOURISM PROMOTION - DEVELOPS STRATEGICE MARKETING PROGRAMS TO STRENGTHEN OUR LOCAL ECONOMY AND ENHANCE THE QUALITY OF LIFE THROUGHOUT OUR REGION BY CREATING AND DISTRIBUTING TOURISM COLLATERAL, PROVIDING INNOVATIVE RESCOURCES SUCH AS WEBSITE AND SOICAL MEDI, MANAGING IN COUNTY INFORMATION CENTERS AND COLLABORATING WITH REGIONAL TOURISM PROMOTION AGENCIES.

Program 3

GOVORNMENT RELATIONS - CREATES A STRONG ECONOMIC REGULATORY CLIMATE BY INTERACTIONS WITH LOCAL, STATE AND FEDERAL OFFICIALS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $114,518

Program Service Revenue $719,816

Investment Income $5,525

Other Revenue $82,337

TOTAL REVENUE $922,196

Expense Breakdown

Grants Paid $0

Salaries & Benefits $347,862

Fundraising Expenses $0

Other Expenses $491,576

TOTAL EXPENSES $839,438

Year-over-Year Comparison

	2024	2023	Change
Revenue	$922,196	$833,018	+0.1%
Expenses	$839,438	$750,421	+0.1%
Net Income	$82,758	$82,597	+0.0%

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

$86,336

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK BENJAMIN	DIRECTOR	2.00	Director	$0	$0	$0
SUE CIRCENCIONE	IMMEDIATE PAST CHAIR	2.00	Director	$0	$0	$0
SARA DAVIS	DIRECTOR	2.00	Director	$0	$0	$0
KAITLYN FRANZONE	DIRECTOR	2.00	Director	$0	$0	$0
CAMERON HOSMER	DIRECTOR	2.00	Director	$0	$0	$0
JIM KING	DIRECTOR	2.00	Director	$0	$0	$0
BRUCE MURRAY	DIRECTOR	2.00	Director	$0	$0	$0
MELISSA NESBIT	DIRECTOR	2.00	Director	$0	$0	$0
BETH PARTEE	DIRECTOR	2.00	Director	$0	$0	$0
CHERYL SANTOS	BOARD CHAIR	2.00	Director	$0	$0	$0
BRUCE SHERMAN	DIRECTOR	2.00	Director	$0	$0	$0
RAY TURRI	DIRECTOR	2.00	Director	$0	$0	$0
DIANE JANES	TREASURER	2.00	Director	$0	$0	$0
LANCE YOUNG	DIRECTOR	2.00	Director	$0	$0	$0
STEVE ZEILINSKI	DIRECTOR	2.00	Director	$0	$0	$0
CHUCK HINKEL	DIRECTOR	2.00	Director	$0	$0	$0
JEFFREY SHIPLEY	EXECUTIVE DIRECTOR	40.00	Officer	$86,336	$0	$86,336

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	$922,196	$839,438	$1,634,845	$82,758
2023	$833,018	$750,421	$1,628,099	$82,597
2022	$798,466	$665,691	$1,478,469	$132,775
2021	$738,493	$570,851	$1,349,692	$167,642
2020	$650,408	$524,946	$1,330,787	$125,462
2019	$766,071	$604,959	$1,160,505	$161,112
2018	$652,542	$545,143	$1,153,316	$107,399