WEST DES MOINES 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

2007

Legal Domicile

Principal Officer

KATHERINE HARRINGTON

Phone

5152256009

Tax Period

2024-01-01 to 2024-12-31

WEST DES MOINES CHAMBER OF COMMERCE, founded in 2007, is a community nonprofit in the Community Improvement sector that reported $1.5M in total revenue in fiscal year 2024.

Mission

THE CHAMBER SERVES AS AN ASSOCIATION OF ITS MEMBERS FOR THE PURPOSE OF PRESERVING THE COMPETITIVE SYSTEM OF BUSINESS AND PROMOTING BUSINESS AND COMMUNITY GROWTH.

Program Service Accomplishments

Program 1

THE CHAMBER IS ORGANIZED TO PROMOTE BUSINESS AND COMMUNITY GROWTH BY: PROMOTING ECONOMIC PROGRAMS DESIGNED TO STRENGTHEN AND EXPAND THE INCOME POTENTIAL OF ALL BUSINESSES WITHIN THE TRADE AREA...

THE CHAMBER IS ORGANIZED TO PROMOTE BUSINESS AND COMMUNITY GROWTH BY: PROMOTING ECONOMIC PROGRAMS DESIGNED TO STRENGTHEN AND EXPAND THE INCOME POTENTIAL OF ALL BUSINESSES WITHIN THE TRADE AREA; PROMOTING PROGRAMS OF CIVIC, SOCIAL AND CULTURAL NATURE WHICH ARE DESIGNED TO INCREASE THE FUNCTIONAL AND AESTHETIC VALUES OF THE COMMUNITY.

Program 2

LEADERSHIP ACADEMY IS A CHAMBER PROGRAM FOR THE DEVELOPMENT AND EDUCATION TO BUILD FUTURE LEADERS IN THE WEST DES MOINES COMMUNITY. THE LEADERSHIP ACADEMY GRADUATED 35 PARTICIPANTS IN 2024 AND BEGAN...

Program 3

ELEVATE'S GOAL IS TO CONSOLIDATE AND CELEBRATE THE POWER OF WOMEN IN LEADERSHIP THROUGH PROFESSIONAL, FAMILIAL, AND COMMUNITY ROLES. USING A QUARTERLY MEETING FORMAT, ELEVATE, PROVIDES UNIQUE...

ELEVATE'S GOAL IS TO CONSOLIDATE AND CELEBRATE THE POWER OF WOMEN IN LEADERSHIP THROUGH PROFESSIONAL, FAMILIAL, AND COMMUNITY ROLES. USING A QUARTERLY MEETING FORMAT, ELEVATE, PROVIDES UNIQUE, DISTINCTIVE EDUCATIONAL AND RESOURCE OPPORTUNITIES WITH THE ABILITY TO HEAR FROM PEOPLE OF INTEREST IN ALL WALKS OF LIFE.

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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 $182,169

Program Service Revenue $1,252,022

Investment Income $9,183

Other Revenue $34,083

TOTAL REVENUE $1,477,457

Expense Breakdown

Grants Paid $53,698

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,461,355

TOTAL EXPENSES $1,515,053

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,477,457	$1,411,176	+0.0%
Expenses	$1,515,053	$1,328,110	+0.1%
Net Income	$-37,596	$83,066	-1.5%

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

N/A

Volunteers

150

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

$173,375

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHERINE HARRINGTON	PRESIDENT/CE	40.00	Officer	$166,687	$6,688	$173,375
THOMAS FLORIAN	SR. DIR OF M	40.00	Highest	$129,891	$9,086	$138,977
HARRISON KRUSE	DIRECTOR	0.50	Director	$0	$0	$0
KOURTNEY PERRY	DIRECTOR	0.50	Director	$0	$0	$0
SANITA DZAFIC	DIRECTOR	0.50	Director	$0	$0	$0
ROBERT PALMER	DIRECTOR	0.50	Director	$0	$0	$0
MARK PEIFFER	DIRECTOR	0.50	Director	$0	$0	$0
JENNIFER SMITH	DIRECTOR	0.50	Director	$0	$0	$0
MARCIA TREICHEL	DIRECTOR	0.50	Director	$0	$0	$0
LIZA VEREN	DIRECTOR	0.50	Director	$0	$0	$0
ANNE COOPER	DIRECTOR	0.50	Director	$0	$0	$0
SAILU TIMBO	DIRECTOR	0.50	Director	$0	$0	$0
ERIC SHEPARD	DIRECTOR	0.50	Director	$0	$0	$0
JIM DUNAWAY	DIRECTOR	0.50	Director	$0	$0	$0
RENEE HARDMAN	DIRECTOR	0.50	Director	$0	$0	$0
DR MATT ADAMS	DIRECTOR	0.50	Director	$0	$0	$0
DR BRADLEY BUCK	DIRECTOR	0.50	Director	$0	$0	$0
DR ANTHONY PAUSTIAN	DIRECTOR	0.50	Director	$0	$0	$0
ASHLEY CHARNETSKI	DIRECTOR	0.50	Director	$0	$0	$0
BRITTON KLOMSTAD	DIRECTOR	0.50	Director	$0	$0	$0
ALLISON BARNES	DIRECTOR	0.50	Director	$0	$0	$0
AMNER MARTINEZ	DIRECTOR	0.50	Director	$0	$0	$0
PAUL SCHUT	CHAIR	0.50	Officer Director	$0	$0	$0
TERRANCE THAMES	CHAIR ELECT	0.50	Officer Director	$0	$0	$0
DAVE BACCILE	TREASURER	0.50	Officer Director	$0	$0	$0
MARIA DAVIS	SECRETARY	0.50	Officer Director	$0	$0	$0
JON HUMMEL	PAST BOARD C	0.50	Officer 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	$1,477,457	$1,515,053	$1,131,052	$-37,596
2023	$1,411,176	$1,328,110	$1,213,372	$83,066
2022	$1,271,483	$1,232,989	$1,148,611	$38,494
2021	$1,104,499	$952,950	$1,095,529	$151,549
2020	$794,199	$660,315	$848,156	$133,884
2019	$781,214	$665,698	$730,100	$115,516
2018	$750,515	$694,727	$670,422	$55,788