WEST MICHIGAN HISPANIC CHAMBER OF … - 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

2004

Legal Domicile

Principal Officer

GUILLERMO CISNEROS

Phone

6164523960

Tax Period

2023-01-01 to 2023-12-31

WEST MICHIGAN HISPANIC CHAMBER OF COMMERCE, founded in 2004, is a community nonprofit in the Community Improvement sector that reported $1.1M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $1.4M exceeded revenue, resulting in a 31% operating deficit.

Mission

TO INCREASE ECONOMIC ADVANCEMENT OF HISPANIC OWNED BUSINESSES AND SUPPORT THE PROFESSIONAL GROWTH OF HISPANICS IN WEST MICHIGAN.

Program Service Accomplishments

Program 1

WEST MICHIGAN HISPANIC CHAMBER OF COMMERCE EXISTS TO INCREASE ECONOMIC ADVANCEMENT OF HISPANIC OWNED BUSINESSES AND TO ASSIST THE PROFESSIONAL GROWTH OF HISPANIC BUSINESS LEADERS IN WEST MICHIGAN.

Program 2

TALENT DEVELOPMENT THROUGH EDUCATION EXISTS TO BUILD A PIPELINE THAT CONNECTS LATINX COLLEGE STUDENTS WITH AREA EMPLOYERS.

Program 3

BUSINESS DEVELOPMENT EXISTS TO REVITALIZE LATINX BUSINESS COMMUNITY THROUGH EDUCATION AND BRINGING TOOLS TO LATINX BUSINESSES.

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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 $495,000

Program Service Revenue $579,601

Investment Income $150

Other Revenue $17

TOTAL REVENUE $1,074,768

Expense Breakdown

Grants Paid $27,844

Salaries & Benefits $836,962

Fundraising Expenses $0

Other Expenses $538,674

TOTAL EXPENSES $1,403,480

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,074,768	$953,280	+0.1%
Expenses	$1,403,480	$914,732	+0.5%
Net Income	$-328,712	$38,548	-9.5%

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

$155,089

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GUILLERMO CISNEROS	PRESIDENT AN	40.00	Officer	$130,425	$24,664	$155,089
JUAN CARLOS HERNANDEZ	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
BRAD LAACKMAN	BOARD VICE-C	1.00	Officer Director	$0	$0	$0
TESSA KEENA	TREASURER	1.00	Officer Director	$0	$0	$0
TONY BAKER	SECRETARY	1.00	Officer Director	$0	$0	$0
RAUL ALVAREZ	BOARD MEMBER	1.00	Director	$0	$0	$0
LUIS AVILA	BOARD MEMBER	1.00	Director	$0	$0	$0
CARYN ZAVALA	BOARD MEMBER	1.00	Director	$0	$0	$0
MARIA CURTIS	BOARD MEMBER	1.00	Director	$0	$0	$0
ISABEL MEDELLIN	BOARD MEMBER	1.00	Director	$0	$0	$0
RENE RODRIGUEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
GRACIELA WILLBRANDT	BOARD MEMBER	1.00	Director	$0	$0	$0
GREG SANIAL	BOARD MEMBER	1.00	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	$1,074,768	$1,403,480	$764,799	$-328,712
2022	$953,280	$914,732	$1,169,792	$38,548
2021	$869,131	$712,192	$949,057	$156,939
2020	$990,568	$645,913	$763,211	$344,655
2019	$324,814	$215,255	$242,849	$109,559
2018	$289,699	$218,331	$133,290	$71,368

WEST MICHIGAN HISPANIC CHAMBER OF COMMERCE