NORFOLK AREA CHAMBER OF COMMERCE FOUNDATION

EIN: 271441871 501(c)(3) Education

NORFOLK, NE

Total Revenue
$356,557
Total Expenses
$223,538
Total Assets
$1,565,035
Net Assets
$1,562,323
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
NE
Principal Officer
RACHEL REISER
Phone
4023714862
Tax Period
2024-01-01 to 2024-12-31

NORFOLK AREA CHAMBER OF COMMERCE FOUNDATION, founded in 2010, is a small nonprofit in the Education sector that reported $357K in total revenue in fiscal year 2024. Revenue surged 265% from the prior year, signaling strong growth momentum. The organization ran a surplus of $133K, a strong 37% operating margin.

Mission

DEDICATED TO CHARITABLE ACTIVITIES BUT NOT LIMITED TO COMMUNITY DEVELOPMENT ACTIVITIES FOR THE BETTERMENT OF NORFOLK NE AND THE SURROUNDING AREAS.

Program Service Accomplishments

Program 1
Expenses: $222,802 Revenue: $38,002

PROVIDE OFFICE BUILDING SPACE FOR NORFOLK AREA CHAMBER OF COMMERCE AND OTHER ECONOMIC DEVELOPMENT ORGANIZATIONS TO ENHANCE THE COMMUNITY DEVELOPMENT ACTIVITIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $314,239
Program Service Revenue $38,002
Investment Income $1
Other Revenue $4,315
TOTAL REVENUE $356,557

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $222,802
Other Expenses $223,538
TOTAL EXPENSES $223,538

Year-over-Year Comparison

2024 2023 Change
Revenue $356,557 $97,714 +2.6%
Expenses $223,538 $117,709 +0.9%
Net Income $133,019 $-19,995 -7.7%
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
5
$0
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JASON ANDERSON VICE CHAIR N/A
Officer Director
$0 $0 $0
BILL BARRITT DIRECTOR N/A
Director
$0 $0 $0
MEGHANN BURESH DIRECTOR N/A
Director
$0 $0 $0
ERICA DAAKE DIRECTOR N/A
Director
$0 $0 $0
KYLE DEETS PAST CHAIR N/A
Officer Director
$0 $0 $0
PAUL HEYBROCK SECRETARY/TR N/A
Officer Director
$0 $0 $0
RACHEL REISER CHAIR N/A
Officer Director
$0 $0 $0
MICHELLE M SCHLECHT AT-LARGE N/A
Director
$0 $0 $0
JILL SOCK DIRECTOR N/A
Director
$0 $0 $0
TROY WEYHRICH DIRECTOR N/A
Director
$0 $0 $0
CONNOR WILCOX DIRECTOR N/A
Director
$0 $0 $0
DON WISNIESKI CHAIR ELECT N/A
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 $356,557 $223,538 $1,565,035 $133,019
2023 $97,714 $117,709 $1,430,381 $-19,995
2022 $103,049 $111,877 $1,449,748 $-8,828
2021 $141,096 $162,072 $1,487,579 $-20,976
2020 $78,698 $108,154 $1,547,068 $-29,456
2019 $86,126 $96,913 $1,603,305 $-10,787
2018 $83,090 $87,599 $1,646,816 $-4,509
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