Sherwood Chamber of Commerce

EIN: 237298285

Sherwood, AR

Total Revenue
$161,030
Total Expenses
$164,897
Total Assets
$57,549
Net Assets
$57,549
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1973
Legal Domicile
AR
Principal Officer
Veronica Vega
Phone
5018357600
Tax Period
2023-01-01 to 2023-12-31

Sherwood Chamber of Commerce, founded in 1973, is a small nonprofit that reported $161K in total revenue in fiscal year 2023. Revenue fell 27% from the prior year — a significant decline worth monitoring.

Mission

The mission of the Sherwood Area Chamber of Commerce is to enhance the business environment, the economic well-being and quality of life for the Sherwood area. Our association consists of businesses, organizations, and individuals that work toward the interests of our business community. We continue to focus on growing the local economy, advocating on behalf of our members at all levels of government as well as our educational establishments.

Program Service Accomplishments

Program 1

The Chamber implemented an Economic Development Program, funded by the city of Sherwood, to promote Sherwood. We strive to be the "go to organization for business networking, business expansion...

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The Chamber implemented an Economic Development Program, funded by the city of Sherwood, to promote Sherwood. We strive to be the "go to organization for business networking, business expansion, professional development and community relationships. Membership participation helps to increase the awareness of economic growth in the Sherwood and Pulaski County area. Our Office of Economic Development has invested time, energy, and resources to attract jobs, retain businesses and generate economic development for the entire community.

Program 2

Significant activities include business advocacy, member services, and educational and compliance services. Business advocacy involves the support of pro-business legislation that encourages job...

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Significant activities include business advocacy, member services, and educational and compliance services. Business advocacy involves the support of pro-business legislation that encourages job creation and economic growth in Sherwood. Member services involve cost savings programs such as insurance benefits, discounts within business community, and networking opportunities to connect members with the local community. Educaitonal and compliance services involve providing educatinal seminars on business related topics to keep members as well as the local business community informed.

Program 3

We offer a variety of events that provide valuable networking opportunities and avenues for business exposure. These events serve four primary functions for our members and the community: promote...

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We offer a variety of events that provide valuable networking opportunities and avenues for business exposure. These events serve four primary functions for our members and the community: promote, honor, connect and grow. The events include a service awards luncheon to honor our local first responders, an annual banquet to honor chamber and community leaders, an Academic Signing Day recognizing student achievement in our local schools, a golf tournament showcasing out beautiful city-owned golf course, a community fish fry connecting the business community with local residents and a Veterans' Day parade to honor local and state veterans organizations.

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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 $92,411
Program Service Revenue $42,629
Investment Income $370
Other Revenue $25,620
TOTAL REVENUE $161,030

Expense Breakdown

Grants Paid $0
Salaries & Benefits $66,926
Fundraising Expenses $0
Other Expenses $97,971
TOTAL EXPENSES $164,897

Year-over-Year Comparison

2023 2022 Change
Revenue $161,030 $220,745 -0.3%
Expenses $164,897 $220,288 -0.3%
Net Income $-3,867 $457 -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

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Governance

Voting Members
12
Independent Members
12
Employees
N/A
Volunteers
N/A

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
3
$45,836
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Dillon Eberle Chairman 2.00
Director
$0 $0 $0
Drew Williams Incoming Chairman 1.00
Director
$0 $0 $0
Teri Cox Past Chairman 1.00
Director
$0 $0 $0
Myra Randolph Treasurer 2.00
Officer Director
$0 $0 $0
Kim Housley Secretary 0.25
Officer Director
$0 $0 $0
Paul Wilson Executive Committee 0.25
Director
$0 $0 $0
Kim Hibbard Executive Committee 0.25
Director
$0 $0 $0
Mack Hutchison Director 0.25
Director
$0 $0 $0
Mike Kelly Director 0.25
Director
$0 $0 $0
Damien Evans-Delrie Director 0.25
Director
$0 $0 $0
Sue Khoo Director 0.25
Director
$0 $0 $0
Brook Weishaar Director 0.25
Director
$0 $0 $0
Kristen Kennon Director 0.25
Director
$0 $0 $0
Laura Bowerman Director 0.25
Director
$0 $0 $0
Megan Bonney Director 0.25
Director
$0 $0 $0
Veronica Vega President 40.00
Officer
$45,836 $0 $45,836
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 $161,030 $164,897 $57,549 $-3,867
2022 $220,745 $220,288 $61,416 $457
2021 $199,603 $238,344 $78,929 $-38,741
2020 $258,525 $244,824 $99,700 $13,701
2019 $206,726 $247,351 $85,999 $-40,625
2018 $175,143 $189,518 $126,624 $-14,375
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