HOWARD 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

1969

Legal Domicile

Principal Officer

KRISTI SIMON

Phone

4107304111

Tax Period

2024-01-01 to 2024-12-31

HOWARD COUNTY CHAMBER OF COMMERCE, founded in 1969, is a small nonprofit that reported $951K in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year.

Mission

TO REPRESENT THE BUSINESS COMMUNITY OF HOWARD COUNTY, MARYLAND

Program Service Accomplishments

Program 1

Expenses: $228,084

MEMBERSHIP - THE CHAMBER PROVIDES APPROXIMATELY BUSINESS MEMBERS WITH EVENTS AND INFORMATION DESIGNED TO ASSIST THEM IN SUCCESSFULLY CONDUCTING THEIR BUSINESS WITHIN HOWARD COUNTY, MARYLAND.

Program 2

Expenses: $180,955

EVENTS - THE CHAMBER OFFERS OPPORTUNITIES TO ITS MEMBERS TO MAKE NEW BUSINESS CONTACTS AND NETWORK WITH OTHER BUSINESS PEOPLE DURING VARIOUS PROGRAMS AND EVENTS THROUGHOUT THE YEAR. THE CHAMBER ALSO HOLDS EVENTS FOR THE PURPOSE OF PROVIDING INFORMATION AND RESOURCES THAT IMPACT THEIR MEMBERS' BUSINESSES. THE CHAMBER SPONSORS APPROXIMATELY THIRTY EVENTS ANNUALLY.

Program 3

Expenses: $177,746

COMMUNICATIONS THE CHAMBER PUBLISHES A NUMBER OF PAMPHLETS IN ORDER TO REACH THE BUSINESS COMMUNITY AND KEEP THEM INFORMED ABOUT THE CALENDAR OF EVENTS, MEMBER ACTIVITIES, AREA BUSINESS...

COMMUNICATIONS THE CHAMBER PUBLISHES A NUMBER OF PAMPHLETS IN ORDER TO REACH THE BUSINESS COMMUNITY AND KEEP THEM INFORMED ABOUT THE CALENDAR OF EVENTS, MEMBER ACTIVITIES, AREA BUSINESS OPPORTUNITIES, AND SPONSORSHIP OPPORTUNITIES. THESE PUBLICATIONS INCLUDE THE "BUSINESS RESOURCE GUIDE AND DIRECTORY", AN ANNUAL REPORT PRODUCED BY THE BUSINESS MONTHLY, AND WEEKLY E-NEWSLETTERS "GET CONNECTED", "IN THE LOOP", AND "GOVCONNECTIONS".

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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 $263,125

Program Service Revenue $657,496

Investment Income $21,641

Other Revenue $8,343

TOTAL REVENUE $950,605

Expense Breakdown

Grants Paid $0

Salaries & Benefits $494,913

Fundraising Expenses $0

Program Expenses $729,372

Other Expenses $480,794

TOTAL EXPENSES $975,707

Year-over-Year Comparison

	2024	2023	Change
Revenue	$950,605	$1,020,924	-0.1%
Expenses	$975,707	$1,008,411	0.0%
Net Income	$-25,102	$12,513	-3.0%

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

100

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

$121,544

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHERYL BROWN	CHAIR	4.50	Officer Director	$0	$0	$0
MATT ANDERSON	CHAIR-ELECT	1.50	Officer Director	$0	$0	$0
LINDA OSTOVITZ	IMMEDIATE PAST CHAIR	1.50	Officer Director	$0	$0	$0
KATIE FORTWENGLER	TREASURER	1.50	Officer Director	$0	$0	$0
REGINA CLAY	AT LARGE MEMBER	1.50	Director	$0	$0	$0
GINA ABATE	AT LARGE MEMBER	1.50	Director	$0	$0	$0
CLARO PIO RODA DR PH MHS	AT LARGE MEMBER	1.50	Director	$0	$0	$0
JULIA LEDERER MCCARTHY	DIRECTOR-YPN	1.50	Director	$0	$0	$0
KATHRYN HICKEY	DIRECTOR	1.50	Director	$0	$0	$0
KELLI HALL	DIRECTOR	1.50	Director	$0	$0	$0
DINA BELL NANCE	DIRECTOR	1.50	Director	$0	$0	$0
FLORA BETRO	DIRECTOR	1.50	Director	$0	$0	$0
JAHANTAB SIDDIQUI	DIRECTOR	1.50	Director	$0	$0	$0
TRICIA HUDSON	DIRECTOR	1.50	Director	$0	$0	$0
MONTY LEONARD	DIRECTOR	1.50	Director	$0	$0	$0
SHERRI COLLINS-WITZKE	DIRECTOR	1.50	Director	$0	$0	$0
ADAM JOSS	DIRECTOR	1.50	Director	$0	$0	$0
GUDELL WARD	DIRECTOR	1.50	Director	$0	$0	$0
MINAH WOO	DIRECTOR	1.50	Director	$0	$0	$0
NICHOLAS BARRICK	DIRECTOR	1.50	Director	$0	$0	$0
ANNMARIE BILGER	DIRECTOR	1.50	Director	$0	$0	$0
LYNDA ELLIS	DIRECTOR	1.50	Director	$0	$0	$0
JAMES GORMAN	DIRECTOR	1.50	Director	$0	$0	$0
MARCHE' TAYLOR	DIRECTOR	1.50	Director	$0	$0	$0
JENNIFER JONES	DIRECTOR	1.50	Director	$0	$0	$0
SHAUN EDDY	DIRECTOR	1.50	Director	$0	$0	$0
CHRIS HAINES	DIRECTOR	1.50	Director	$0	$0	$0
KRISTY MUMMA	DIRECTOR	1.50	Director	$0	$0	$0
KRISTI SIMON	PRESIDENT/CEO	40.00	Officer	$114,000	$7,544	$121,544

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	$950,605	$975,707	$577,881	$-25,102
2023	$1,020,924	$1,008,411	$764,425	$12,513
2022	$933,850	$946,262	$832,315	$-12,412
2021	$1,010,289	$806,587	$652,694	$203,702
2020	$788,816	$701,952	$432,477	$86,864
2019	$913,029	$899,893	$354,915	$13,136
2018	$866,314	$866,816	$343,860	$-502