Salem Area 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

1956

Legal Domicile

Principal Officer

Doug Falk

Phone

3303373473

Tax Period

2023-01-01 to 2023-12-31

Salem Area Chamber of Commerce, founded in 1956, is a small nonprofit that reported $186K in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $175K left a modest 6% surplus.

Mission

To serve as the catalyst that creates the best possible environment for businesses.

Program Service Accomplishments

Program 1

Expenses: $137,758 Revenue: $90,454

The Salem Area Chamber of Commerce is organized to foster, promote, and develop the advancement of the commercial, financial, industrial, professional, and civic interests of Salem, Ohio and the...

The Salem Area Chamber of Commerce is organized to foster, promote, and develop the advancement of the commercial, financial, industrial, professional, and civic interests of Salem, Ohio and the greater Salem area.

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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 $81,607

Program Service Revenue $90,454

Investment Income $3,852

Other Revenue $9,802

TOTAL REVENUE $185,715

Expense Breakdown

Grants Paid $5,432

Salaries & Benefits $89,401

Fundraising Expenses $0

Program Expenses $137,758

Other Expenses $80,538

TOTAL EXPENSES $175,371

Year-over-Year Comparison

	2023	2022	Change
Revenue	$185,715	$170,869	+0.1%
Expenses	$175,371	$162,474	+0.1%
Net Income	$10,344	$8,395	+0.2%

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

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

$51,103

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Amanda Grove Kennedy	Past President	0.50	Director	$0	$0	$0
Julie Needs	Director	0.50	Director	$0	$0	$0
Betty Brothers	Director	0.50	Director	$0	$0	$0
Eric Ehrenberg	Director	0.50	Director	$0	$0	$0
Shelby Fender	Director	0.50	Director	$0	$0	$0
Ryan Gillis	Director	0.50	Director	$0	$0	$0
Lesley Kline	Director	0.50	Director	$0	$0	$0
Rachel J Martin	Director	0.50	Director	$0	$0	$0
Mike McCulloch	Director	0.50	Director	$0	$0	$0
Ann Myers	Director	0.50	Director	$0	$0	$0
Dave Russell	Director	0.50	Director	$0	$0	$0
Michael Santillo	Director	0.50	Director	$0	$0	$0
Sharon Schneider	Director	0.50	Director	$0	$0	$0
Fred Borgan	Director	0.50	Director	$0	$0	$0
Dr Mike Sevilla	Director	0.50	Director	$0	$0	$0
Anthony Shivers	Director	0.50	Director	$0	$0	$0
George W Morris III	Chamber Ambassador	0.50	Director	$0	$0	$0
Frank Zamarelli	Chamber Ambassador	0.50	Director	$0	$0	$0
Lori Jewell	Executive Director	30.00	Director	$51,103	$0	$51,103
Shelly Weekley	Director	0.50	Director	$0	$0	$0
Robin Whitehair	Director	0.50	Director	$0	$0	$0
Gregory Yaskulka	President	0.50	Officer	$0	$0	$0
Brian Whitehill	1st Vice President	0.50	Officer	$0	$0	$0
Doug Falk	Treasurer	0.50	Officer	$0	$0	$0
Shelly Bergman	2nd Vice President	0.50	Officer	$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	$185,715	$175,371	$171,235	$10,344
2019	$183,839	$162,570	$137,103	$21,269
2018	$167,606	$209,593	$123,686	$-41,987