WESTFIELD AREA CHAMBER OF COMMERCE

EIN: 221591616

Westfield, NJ

Total Revenue
$275,801
Total Expenses
$261,565
Total Assets
$377,952
Net Assets
$252,557
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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
1964
Legal Domicile
NJ
Principal Officer
Lew Kimble
Tax Period
2023-01-01 to 2023-12-31

WESTFIELD AREA CHAMBER OF COMMERCE, founded in 1964, is a small nonprofit that reported $276K in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $262K left a modest 5% surplus.

Mission

Promote business in Westfield, NJ and the surrounding areas.

Program Service Accomplishments

Program 1
Expenses: $177,058 Revenue: $306,739

Chamber hosts various community activities that promote the downtown business district including: car shows, farmers markets, street fairs and festivals

Program 2
Expenses: $10,438 Revenue: $13,289

Chamber hosts meetings throughout the year that promote the interests of its members and the interests of the business community

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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 (2023)

Revenue Breakdown

Contributions & Grants $101,679
Program Service Revenue $160,756
Investment Income $0
Other Revenue $13,366
TOTAL REVENUE $275,801

Expense Breakdown

Grants Paid $0
Salaries & Benefits $108,556
Fundraising Expenses $0
Program Expenses $187,496
Other Expenses $153,009
TOTAL EXPENSES $261,565

Year-over-Year Comparison

2023 2022 Change
Revenue $275,801 $227,936 +0.2%
Expenses $261,565 $201,311 +0.3%
Net Income $14,236 $26,625 -0.5%
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

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Governance

Voting Members
20
Independent Members
20
Employees
5
Volunteers
20

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
7
$8,333
Total Directors
20
$0
Key Employees
1
$8,333
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Gene Jannotti Executive Director 20.00
$29,167 $0 $29,167
Lew Kimble Executive Director 20.00
Officer Key Emp
$8,333 $0 $8,333
Burim Regjaj Board Member 2.00
Director
$0 $0 $0
Betty Spiropoulos Board Member 2.00
Director
$0 $0 $0
Matthew Pejkovic Board Member 2.00
Director
$0 $0 $0
Barbara G Manino Jr Board Member 2.00
Director
$0 $0 $0
Aimee Nuzzo Board Member 2.00
Director
$0 $0 $0
Jennifer DiVirgilio Board Member 2.00
Director
$0 $0 $0
Steve Flood Board Member 2.00
Director
$0 $0 $0
David Tepp Board Member 2.00
Director
$0 $0 $0
Harold Star Board Member 2.00
Director
$0 $0 $0
Alan Tennant Board Member 2.00
Director
$0 $0 $0
Stephanie Branna Board Member 2.00
Director
$0 $0 $0
Tony Bianchino Board Member 2.00
Director
$0 $0 $0
Carol Kearney Board Member 2.00
Director
$0 $0 $0
Jennifer Gillman Board Member 2.00
Director
$0 $0 $0
Darielle Walsh Board Member 2.00
Officer Director
$0 $0 $0
Mario Cesario Board Member 2.00
Officer Director
$0 $0 $0
Jim Mooney Board Member 2.00
Officer Director
$0 $0 $0
Francesca Azzara Board Member 2.00
Officer Director
$0 $0 $0
Marta Alexandre Board Member 2.00
Officer Director
$0 $0 $0
Maria Fuentes Board Member 2.00
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 No data No data No data No data
2023 $275,801 $261,565 $377,952 $14,236
2022 $227,936 $201,311 $377,392 $26,625
2021 $176,019 $154,085 $350,766 $21,934
2020 $120,977 $141,805 $347,832 $-20,828
2019 $200,101 $190,777 $243,298 $9,324
2018 $223,338 $188,571 $233,973 $34,767
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