WEST MICHIGAN HISPANIC CHAMBER OF … - Form 990 Financial Data

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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

2017

Legal Domicile

Principal Officer

GUILLERMO CISNEROS

Phone

6164523960

Tax Period

2023-01-01 to 2023-12-31

WEST MICHIGAN HISPANIC CHAMBER OF COMMERCE FOUNDATION, founded in 2017, is a small nonprofit in the Community Improvement sector that reported $387K in total revenue in fiscal year 2023. Revenue fell 48% from the prior year — a significant decline worth monitoring. Expenses of $533K exceeded revenue, resulting in a 38% operating deficit.

Mission

THE FOUNDATION PROMOTES ECONOMIC DEVELOPMENT BY FOSTERING THE NEXT GENERATION OF NEW BUSINESSES AND CREATING RELATED EMPLOYMENT OPPORTUNITIES.

Program Service Accomplishments

Program 1

Expenses: $165,000

BUSINESS DEVELOPMENT EXISTS TO REVITALIZE LATINX BUSINESS COMMUNITY THROUGH EDUCATION AND BRINGING TOOLS TO LATINX BUSINESSES.

Program 2

Expenses: $295,000

TALENT DEVELOPMENT THROUGH EDUCATION EXISTS TO BUILD A PIPLELINE THAT CONNECTS LATINX COLLEGE STUDENTS WITH AREA EMPLOYERS.

Program 3

Expenses: $44,855

THE FOUNDATION SUPPORTS THE WEST MICHIGAN HISPANIC CHAMBER OF COMMERCE AND OTHER ORGANZATIONS WITH SIMILAR MISSIONS, TO INCREASE ECONOMIC ADVANCEMENT OF HISPANIC OWNED BUSINESSES AND TO ASSIST THE...

THE FOUNDATION SUPPORTS THE WEST MICHIGAN HISPANIC CHAMBER OF COMMERCE AND OTHER ORGANZATIONS WITH SIMILAR MISSIONS, TO INCREASE ECONOMIC ADVANCEMENT OF HISPANIC OWNED BUSINESSES AND TO ASSIST THE PROFESSIONAL GROWTH OF HISPANIC BUSINESS LEADERS IN WEST MICHIGAN.

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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 $387,399

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $387,399

Expense Breakdown

Grants Paid $495,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $504,855

Other Expenses $37,699

TOTAL EXPENSES $532,699

Year-over-Year Comparison

	2023	2022	Change
Revenue	$387,399	$743,104	-0.5%
Expenses	$532,699	$572,681	-0.1%
Net Income	$-145,300	$170,423	-1.9%

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

$156,600

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GUILLERMO CISNEROS	PRESIDENT &	10.00	Officer	$0	$26,175	$156,600
JUAN CARLOS HERNANDEZ	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
TESSA KEENA	TREASURER	1.00	Officer Director	$0	$0	$0
BRAD LAACKMAN	BOARD VICE-C	1.00	Officer Director	$0	$0	$0
TONY BAKER	SECRETARY	1.00	Officer Director	$0	$0	$0
RAUL ALVAREZ	BOARD MEMBER	1.00	Director	$0	$0	$0
LUIS AVILA	BOARD MEMBER	1.00	Director	$0	$0	$0
CARYN ZAVALA	BOARD MEMBER	1.00	Director	$0	$0	$0
GRACIELA WILLBRANDT	BOARD MEMBER	1.00	Director	$0	$0	$0
ISABEL MEDELLIN	BOARD MEMBER	1.00	Director	$0	$0	$0
RENE RODRIGUEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
MARIA CURTIS	BOARD MEMBER	1.00	Director	$0	$0	$0
GREG SANIAL	BOARD MEMBER	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	$387,399	$532,699	$490,835	$-145,300
2022	$743,104	$572,681	$974,760	$170,423
2021	$730,500	$552,272	$364,086	$178,228
2020	$491,367	$566,280	$426,392	$-74,913

WEST MICHIGAN HISPANIC CHAMBER OF COMMERCE FOUNDATION