CRYSTAL LAKE 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

1940

Legal Domicile

Principal Officer

CATHERINE PETERSON

Phone

8154591300

Tax Period

2024-07-01 to 2025-06-30

CRYSTAL LAKE CHAMBER OF COMMERCE, founded in 1940, is a small nonprofit that reported $475K in total revenue in fiscal year 2024. Expenses of $409K left a modest 14% surplus.

Mission

THE MISSION OF THE CRYSTAL LAKE CHAMBER OF COMMERCE IS TO CREATE VALUE AND OPPORTUNITY FOR OUR MEMBERS WITH THE BELIEF THAT A POSITIVE BUSINESS CLIMATE IS AN INTEGRAL PART OF A HEALTHY COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $203,061 Revenue: $161,680

THE CHAMBER IS A VOLUNTARY GROUP OF BUSINESSES THAT INVEST THEIR TIME AND MONEY IN COMMUNITY DEVELOPMENT AND WORK TOGETHER TO IMPROVE THE ECONOMIC, CIVIC, AND CULTURAL WELL-BEING OF THE CRYSTAL LAKE, ILLINOIS AREA. MANY SPECIAL EVENTS AND PROGRAMS ARE SPONSORED BY THE CHAMBER OF COMMERCE. THESE INCLUDE AN ANNUAL HOME AND BUSINESS EXPO EACH SPRING IN WHICH EXHIBITORS SHOWCASE THEIR PRODUCTS AND SERVICES IN A COMMUNITY TRADE SHOW, CO- SPONSORSHIP OF THE INDEPENDENCE DAY PARADE, PUBLICATION OF THE "COMMUNITY GUIDE" WHICH IS DISTRIBUTED TO ALMOST 10,000 LOCAL RESIDENTS AND BUSINESSES INFORMING THEM OF EVENTS AND PROGRAMS BEING OFFERED LOCALLY, AN ANNUAL GOLF OUTING, NETWORK GROUPS, MONDAY NIGHT FOOTBALL, GOLF LEAGUES, MIXERS, AND MORE.

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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 $302,807

Program Service Revenue $161,680

Investment Income $2,492

Other Revenue $7,623

TOTAL REVENUE $474,602

Expense Breakdown

Grants Paid $0

Salaries & Benefits $232,066

Fundraising Expenses $0

Program Expenses $203,061

Other Expenses $176,489

TOTAL EXPENSES $408,555

Year-over-Year Comparison

	2024	2023	Change
Revenue	$474,602	$444,970	+0.1%
Expenses	$408,555	$421,047	0.0%
Net Income	$66,047	$23,923	+1.8%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC BEIER	CHAIRMAN	N/A	Officer Director	$0	$0	$0
GARY BONICK	AMBASSADOR V	N/A	Director	$0	$0	$0
MICHAEL BUCHANEN	DIRECTOR	N/A	Director	$0	$0	$0
PIERRE GARCIA	DIRECTOR	N/A	Director	$0	$0	$0
CAMERON HUBBARD	DIRECTOR	N/A	Director	$0	$0	$0
LEAH JACKSON	DIRECTOR	N/A	Director	$0	$0	$0
LISA KARLOV	DIRECTOR	N/A	Director	$0	$0	$0
DAWN KINCAID	DIRECTOR	N/A	Director	$0	$0	$0
ANDREA MARQUEZ	DIRECTOR	N/A	Director	$0	$0	$0
STACY MASON	DIRECTOR	N/A	Director	$0	$0	$0
KATIE O'NEILL	DIRECTOR	N/A	Director	$0	$0	$0
KEN PRINGLE	CHAIRMAN	N/A	Officer Director	$0	$0	$0
CHRIS SLACK	DIRECTOR	N/A	Director	$0	$0	$0
RANDY SMITH	PAST CHAIRMA	N/A	Officer Director	$0	$0	$0
KAREN TOBIN	VICE CHAIR	N/A	Officer Director	$0	$0	$0
GRACE TODD	DIRECTOR	N/A	Director	$0	$0	$0
TIM URBAN	DIRECTOR	N/A	Director	$0	$0	$0
MIKE WHEELAND	PAST CHAIR	N/A	Director	$0	$0	$0
KATHRYN MARTENS	TREASURER	N/A	Officer	$0	$0	$0
CATHERINE PETERSON	PRESIDENT	N/A	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
2025	$474,602	$408,555	$376,931	$66,047
2024	$444,970	$421,047	$298,594	$23,923
2023	$470,015	$486,607	$273,092	$-16,592
2022	$548,400	$552,825	$289,734	$-4,425
2021	$477,008	$454,246	$298,001	$22,762
2020	$497,114	$487,242	$279,677	$9,872
2019	$511,536	$551,125	$270,780	$-39,589