GALENA 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

1905

Legal Domicile

Principal Officer

NICOLE A NOLAN

Phone

8157779050

Tax Period

2024-01-01 to 2024-12-31

GALENA AREA CHAMBER OF COMMERCE, founded in 1905, is a micro nonprofit that reported $53K in total revenue in fiscal year 2024. Expenses of $88K exceeded revenue, resulting in a 66% operating deficit.

Mission

TO PROMOTE THE ECONOMIC WELFARE OF THE BUSINESS COMMUNITY ADN TO CONTRIBUTE TO TH QUALITY OF LIFE IN THE GALENA AREA

Program Service Accomplishments

Program 1

BUSINESS TRADE AND SHOWCASE. THE ORGANIZATION SPONSORS A TRADE SHOW ALLOWING MEMBERS THE OPPORTUNITY TO DISPLAY GOODS AND SERVICES TO THE LOCAL COMMUNITY, EVENT IS IN KEEPIGN WITH THE ORGANIZATIONS...

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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 $27,668

Program Service Revenue $11,529

Investment Income $2,312

Other Revenue $11,434

TOTAL REVENUE $52,943

Expense Breakdown

Grants Paid $0

Salaries & Benefits $36,602

Fundraising Expenses $0

Other Expenses $51,141

TOTAL EXPENSES $87,743

Year-over-Year Comparison

	2024	2023	Change
Revenue	$52,943	N/A	N/A
Expenses	$87,743	N/A	N/A
Net Income	$-34,800	N/A	N/A

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

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

Total Directors

Key Employees

$33,280

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARB HOCKER	EXECUTIVE DIRECTOR	030.00	Key Emp	$33,280	$0	$33,280
EMMA JANE MAYER	BOARD MEMBER	001.00	Director	$0	$0	$0
BRIANNE VAN HEMERT	BOARD MEMBER	001.00	Director	$0	$0	$0
CHRISTINE MELAAS	BOARD MEMBER	001.00	Director	$0	$0	$0
DEVIN PATTERSON	BOARD MEMBER	001.00	Director	$0	$0	$0
PATIRCK POWASER	BOARD MEMBER	001.00	Director	$0	$0	$0
COLIN SANDERSON	BOARD MEMBER	001.00	Director	$0	$0	$0
MADELINE HAWKINS	BOARD MEMBER	001.00	Director	$0	$0	$0
GINGER ZAMBRANO	BOARD MEMBER	001.00	Director	$0	$0	$0
NIKKI NOLAN	BOARD MEMBER	001.00	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	No data	No data	No data	No data
2024	$52,943	$87,743	$45,653	$-34,800
2023	$68,363	$49,570	$113,926	$18,793
2021	$65,826	$54,221	$84,353	$11,605
2020	$73,136	$79,164	$70,531	$-6,028
2019	$67,167	$70,741	$73,596	$-3,574
2018	$79,126	$61,448	$74,074	$17,678