Greater Grand Rapids Chamber Foundation (EIN 237221790) - Form 990 Financial Analysis & Trantor Score

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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

1972

Legal Domicile

Principal Officer

Rick Baker

Phone

6167710300

Tax Period

2023-01-01 to 2023-12-31

Greater Grand Rapids Chamber Foundation, founded in 1972, is a small nonprofit that reported $810K in total revenue in fiscal year 2023. Revenue fell 69% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $293K, a strong 36% operating margin.

Mission

To provide programming and funding that encourages free enterprise, enhances the quality of life in the greater Grand Rapids area, or otherwise serves a charitable, scientific, literary, or educational purpose.

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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 $787,511

Program Service Revenue $0

Investment Income $25,918

Other Revenue $-3,332

TOTAL REVENUE $810,097

Expense Breakdown

Grants Paid $33,183

Salaries & Benefits $118,212

Fundraising Expenses $11,821

Program Expenses $478,453

Other Expenses $365,355

TOTAL EXPENSES $516,750

Year-over-Year Comparison

	2023	2022	Change
Revenue	$810,097	$2,626,007	-0.7%
Expenses	$516,750	$2,089,561	-0.8%
Net Income	$293,347	$536,446	-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

Governance

Voting Members

Independent Members

Employees

N/A

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

Total Directors

$315,690

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Nelson Sanchez	Chair	1.00	Director	$0	$0	$0
Dan Meyering	Director	1.00	Director	$0	$0	$0
Kim McLaughlin	Director	1.00	Director	$0	$0	$0
Jeff Lumpp	Treasurer	1.00	Director	$0	$0	$0
Jeff Connolly	Director	1.00	Director	$0	$0	$0
Jennifer Crowley	Director	1.00	Director	$0	$0	$0
Brad Thomas	Director	1.00	Director	$0	$0	$0
James Byl	Director	1.00	Director	$0	$0	$0
Michael Nelson	Director	1.00	Director	$0	$0	$0
Alisha Cieslak	Director	1.00	Director	$0	$0	$0
Michael Davenport	Director	1.00	Director	$0	$0	$0
Rick Baker	Director	1.00	Director	$0	$315,690	$315,690
Mike Verhulst	Director	1.00	Director	$0	$0	$0
Megan Rydecki	Director	1.00	Director	$0	$0	$0
Teresa Weatherall Neal	Director	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	$810,097	$516,750	$3,558,754	$293,347
2022	$2,626,007	$2,089,561	$4,503,098	$536,446
2021	$926,615	$1,052,949	$5,001,649	$-126,334
2020	$1,650,942	$1,758,259	$4,969,936	$-107,317
2019	$237,990	$219,561	$6,788,731	$18,429
2018	$200,523	$97,323	$333,720	$103,200

Greater Grand Rapids Chamber Foundation