WESTMONT CHAMBER OF COMMERCE & TOU… - 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

1974

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

WESTMONT CHAMBER OF COMMERCE & TOURISM BUREAU, founded in 1974, is a small nonprofit in the Community Improvement sector that reported $343K in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $332K left a modest 3% surplus.

Mission

PROMOTE BUSINESS IN VILLAGE

Program Service Accomplishments

Program 1

Expenses: $202,553 Revenue: $182,177

OTHER PROGRAMS TO PROMOTE BUSINESS AND PROVIDE NETWORK OPPORTUNITIES

Program 2

Expenses: $70,275 Revenue: $53,500

WESTMONT AUTO GROUP IS A COORDINATION OF AUTO DEALERS AND SPONSORSHIP OF LOCAL EVENTS

Program 3

Expenses: $11,909 Revenue: $41,750

TOURISM GRANT FROM VILLAGE OF WESTMONT HELPS WITH MARKETING AND ADVERTISING HOTELS. DECORATING CERTAIN MAIN STREETS WITH BANNERS SPONSORED BY BUSINESSES PROMOTING THE BUSINESSES AND TOURISM...

TOURISM GRANT FROM VILLAGE OF WESTMONT HELPS WITH MARKETING AND ADVERTISING HOTELS. DECORATING CERTAIN MAIN STREETS WITH BANNERS SPONSORED BY BUSINESSES PROMOTING THE BUSINESSES AND TOURISM ACTIVITIES. REGULAR RESTAURANT REVIEWS AND RESTAURANT WEEK PROMOTION

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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 $76,855

Program Service Revenue $260,928

Investment Income $5,148

Other Revenue $0

TOTAL REVENUE $342,931

Expense Breakdown

Grants Paid $2,538

Salaries & Benefits $151,473

Fundraising Expenses $19,774

Program Expenses $293,249

Other Expenses $177,528

TOTAL EXPENSES $331,539

Year-over-Year Comparison

	2023	2022	Change
Revenue	$342,931	$306,672	+0.1%
Expenses	$331,539	$292,199	+0.1%
Net Income	$11,392	$14,473	-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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARTIKA GARTMAN	DIRECTOR	2.00	Director	$0	$0	$0
STEVE MAY	DIRECTOR	2.00	Director	$0	$0	$0
STEVE WOZNY	DIRECTOR	2.00	Director	$0	$0	$0
NADINE NORRIS	DIRECTOR	2.00	Director	$0	$0	$0
ROHAN PATEL	DIRECTOR	2.00	Director	$0	$0	$0
PETER MUMFORD	DIRECTOR	2.00	Director	$0	$0	$0
MEILIE TSAI	DIRECTOR	2.00	Director	$0	$0	$0
KIM HELLER	DIRECTOR	2.00	Director	$0	$0	$0
DREW MITCHELL	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT FLECK	DIRECTOR	2.00	Director	$0	$0	$0
JESSICA GARRETT	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
BECKY RHEINTGEN	PRESIDENT	5.00	Officer Director	$0	$0	$0
KIM NOVOVESKY	TREASURER	5.00	Officer Director	$0	$0	$0
ALISON CLEMENS	PAST PRESIDENT	2.00	Officer Director	$0	$0	$0
GAYE WAGNER	SECRETARY	5.00	Officer Director	$0	$0	$0
LEANORA MOORE	STAFF	30.00	Key Emp	$0	$0	$0
LARRY M FORSSBERG	EXECUTIVE DIRECTOR	40.00	Key Emp	$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	$342,931	$331,539	$395,512	$11,392
2022	$306,672	$292,199	$386,342	$14,473
2021	$338,131	$224,856	$345,226	$113,275
2020	$249,306	$230,016	$229,386	$19,290
2020	$249,306	$220,016	$239,386	$29,290
2019	$310,542	$296,906	$210,784	$13,636
2018	$339,500	$273,006	$197,431	$66,494

WESTMONT CHAMBER OF COMMERCE & TOURISM BUREAU