WATKINS GLEN AREA CHAMBER OF COMME… - 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

1949

Legal Domicile

Principal Officer

NIGAR HALE

Phone

6075354300

Tax Period

2024-01-01 to 2024-12-31

WATKINS GLEN AREA CHAMBER OF COMMERCE INC, founded in 1949, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

THE MISSION OF THE WGACC IS TO ADVANCE ECONOMIC SUCCESS THROUGH SUPPORT, PROMOTION AND EDUCATION.

Program Service Accomplishments

Program 1

TOURISM PROMOTION- THE WGACC IS THE DESIGNATED TOURISM PROMOTION AGENT FOR SCHUYLER COUNTY AND IS RESPONSIBLE FOR MANAGING THE VISITOR CENTERS AT 214 N. FRANKLIN STREET AND THE WATKINS GLEN STATE...

TOURISM PROMOTION- THE WGACC IS THE DESIGNATED TOURISM PROMOTION AGENT FOR SCHUYLER COUNTY AND IS RESPONSIBLE FOR MANAGING THE VISITOR CENTERS AT 214 N. FRANKLIN STREET AND THE WATKINS GLEN STATE PARK.

Program 2

MEMBERSHIP- THE WGACC HAS A HEALTHY AND VIBRANT MEMBERSHIP. WE SERVE OUR MEMBERS WITH SUPPORT, PROMOTION AND EDUCATION.

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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 $126,650

Program Service Revenue $1,100,186

Investment Income $201

Other Revenue $-921

TOTAL REVENUE $1,226,116

Expense Breakdown

Grants Paid $75,500

Salaries & Benefits $373,558

Fundraising Expenses $0

Other Expenses $807,733

TOTAL EXPENSES $1,256,791

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,226,116	$1,094,446	+0.1%
Expenses	$1,256,791	$1,198,046	+0.0%
Net Income	$-30,675	$-103,600	-0.7%

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

$111,264

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KERRY KELLER	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
WENDY SHUTTER	SECRETARY	1.00	Officer Director	$0	$0	$0
MATTHEW BUSH	TREASURER, 2ND VICE CHAIR	1.00	Officer Director	$0	$0	$0
MICHAEL STAMP	DIRECTOR	1.00	Director	$0	$0	$0
RONALD BECK	1ST VICE CHAIR	1.00	Officer Director	$0	$0	$0
LAURY WARD	DIRECTOR	1.00	Director	$0	$0	$0
TRACY GATES	DIRECTOR	1.00	Director	$0	$0	$0
CARL BLOWERS	EX-OFFICIO	1.00	Director	$0	$0	$0
JUDY MCKINNEY-CHERRY	EX-OFFICIO	1.00	Director	$0	$0	$0
DENA CARRIGAN	DIRECTOR	1.00	Director	$0	$0	$0
CARMELLA HOFFMAN	DIRECTOR	1.00	Director	$0	$0	$0
JODI VANSELOW	DIRECTOR	1.00	Director	$0	$0	$0
NIGAR HALE	EXECUTIVE DIRECTOR	40.00	Officer	$99,208	$12,056	$111,264

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	$1,226,116	$1,256,791	$567,534	$-30,675
2023	$1,094,446	$1,198,046	$697,661	$-103,600
2022	$1,143,106	$1,139,618	$770,935	$3,488
2021	$920,123	$861,196	$684,359	$58,927
2020	$792,001	$828,597	$440,613	$-36,596
2019	$947,269	$857,186	$536,506	$90,083
2018	$885,397	$837,900	$460,389	$47,497

WATKINS GLEN AREA CHAMBER OF COMMERCE INC