BOLINGBROOK AREA CHAMBER OF COMMER… - 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

1978

Legal Domicile

Principal Officer

JOE GIAMANCO

Phone

6302268420

Tax Period

2023-07-01 to 2024-06-30

BOLINGBROOK AREA CHAMBER OF COMMERCE, founded in 1978, is a small nonprofit in the Community Improvement sector that reported $438K in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year. Expenses of $483K exceeded revenue, resulting in a 10% operating deficit.

Mission

TO PROMOTE AND PROVIDE SERVICES FOR BUSINESSES IN THE BOLINGBROOK AREA

Program Service Accomplishments

Program 1

PROVIDE OPPORTUNITIES FOR BUSINESSES TO INTERACT WITH EACH OTHER THROUGH MEETING AND OTHER ACTIVITIES. ALL MEMBERS CAN ATTEND.

Program 2

PROMOTE BUSINESSES WITH THE BUSINESS EXPO, MIM FEST, MEMBER DIRECTORY, PARAGE AND OTHER ACTIVITES. ALL MEMBERS CAN PARTICIPATE.

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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 $138,308

Program Service Revenue $214,975

Investment Income $1,958

Other Revenue $82,831

TOTAL REVENUE $438,072

Expense Breakdown

Grants Paid $4,522

Salaries & Benefits $208,227

Fundraising Expenses $0

Other Expenses $270,168

TOTAL EXPENSES $482,917

Year-over-Year Comparison

	2023	2022	Change
Revenue	$438,072	$462,354	-0.1%
Expenses	$482,917	$428,864	+0.1%
Net Income	$-44,845	$33,490	-2.3%

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
PAUL CRUSE	DIRECTOR	1.00	Director	$0	$0	$0
JENNA FASH	DIRECTOR	1.00	Director	$0	$0	$0
JOE GIAMANCO	CHAIRMAN	3.00	Director	$0	$0	$0
LARRY GREENWICH	DIRECTOR	2.00	Director	$0	$0	$0
JEFFREY HETT	DIRECTOR	1.00	Director	$0	$0	$0
MIKE JOSTES	DIRECTOR	1.00	Director	$0	$0	$0
KRISTINE KUCHLER	DIRECTOR	1.00	Director	$0	$0	$0
ROBYN MCBROOM	DIRECTOR	2.00	Director	$0	$0	$0
KAREN METCALFE	TREASURER	2.00	Officer Director	$0	$0	$0
FATINA SAYEGH	DIRECTOR	1.00	Director	$0	$0	$0
TRISTAN SHAW	DIRECTOR	1.00	Director	$0	$0	$0
DIANE SORESCU	DIRECTOR	1.00	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
2025	No data	No data	No data	No data
2024	$438,072	$482,917	$138,681	$-44,845
2023	$462,354	$428,864	$249,115	$33,490
2022	$448,292	$455,334	$147,090	$-7,042
2021	$391,176	$374,190	$115,056	$16,986
2020	$370,421	$375,239	$124,544	$-4,818
2020	$370,421	$399,515	$100,268	$-29,094
2019	$406,791	$392,337	$102,448	$14,454
2018	$398,828	$378,764	$90,064	$20,064
2017	$390,758	$435,631	$38,354	$-44,873

BOLINGBROOK AREA CHAMBER OF COMMERCE