Elgin Area Chamber of Commerce (EIN 361035380) - 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

1908

Legal Domicile

Principal Officer

Carol Gieske

Phone

8477415660

Tax Period

2024-01-01 to 2024-12-31

Elgin Area Chamber of Commerce, founded in 1908, is a small nonprofit in the Community Improvement sector that reported $824K in total revenue in fiscal year 2024. Expenses of $736K left a modest 11% surplus.

Mission

The Elgin Area Chamber connects communities through engagement, advocacy, collaboration, and leadership.

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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 (2024)

Revenue Breakdown

Contributions & Grants $330,261

Program Service Revenue $438,060

Investment Income $40,368

Other Revenue $15,166

TOTAL REVENUE $823,855

Expense Breakdown

Grants Paid $4,000

Salaries & Benefits $584,402

Fundraising Expenses $0

Program Expenses $550,895

Other Expenses $147,921

TOTAL EXPENSES $736,323

Year-over-Year Comparison

	2024	2023	Change
Revenue	$823,855	$790,393	+0.0%
Expenses	$736,323	$725,581	+0.0%
Net Income	$87,532	$64,812	+0.4%

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

$306,257

Total Directors

$178,673

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Carol Gieske	President and CEO	040.00	Officer Director Highest	$157,367	$21,306	$178,673
Anatol Lucenko Jr	Director of Economic Development	040.00	Highest	$130,200	$33,242	$163,442
Theresa Gajewski	VP Accounting and Operations	040.00	Officer	$109,635	$17,949	$127,584
Michael Wong	Director	000.25	Director	$0	$0	$0
Sheri DeShazo	Director	000.25	Director	$0	$0	$0
Eva Balderrama	Director	000.25	Director	$0	$0	$0
Sara Vaince	Director	000.25	Director	$0	$0	$0
Mike Warren	Director	000.25	Director	$0	$0	$0
Leslie Maloney	Director	000.25	Director	$0	$0	$0
Amanda Garcia	Director	000.25	Director	$0	$0	$0
David Sam	Director	000.25	Director	$0	$0	$0
Yaneth Medina	Past Chair	000.25	Officer Director	$0	$0	$0
Kerry Klein	Director	000.25	Director	$0	$0	$0
Rolando Guerrero	Treasurer	000.25	Officer Director	$0	$0	$0
Rise Jones	Director	000.25	Director	$0	$0	$0
ReJena Lyon	Chair	000.25	Officer Director	$0	$0	$0
Yvonne Irving	Chair Membership	000.25	Officer Director	$0	$0	$0
Steven Migala	Director	000.25	Director	$0	$0	$0
John Talkington	Director	000.25	Director	$0	$0	$0
Gabe Grzeskiewicz	Director	000.25	Director	$0	$0	$0
Keith Rauschenberger	Director	000.25	Director	$0	$0	$0
Suzanne Johnson	Director	000.25	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	$823,855	$736,323	$941,390	$87,532
2023	$790,393	$725,581	$851,247	$64,812
2022	$666,068	$617,161	$786,435	$48,907
2021	$627,074	$509,174	$742,026	$117,900
2020	$613,793	$522,723	$628,466	$91,070
2019	$628,177	$589,369	$540,528	$38,808

Elgin Area Chamber of Commerce