CHICAGOMIDWEST CHAPTER OF THE TURN… - 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

1992

Legal Domicile

Principal Officer

KEVIN TAVAKOLI

Phone

8154692935

Tax Period

2025-01-01 to 2025-12-31

CHICAGOMIDWEST CHAPTER OF THE TURNAROUND MANAGEMENT ASSOCIATION, founded in 1992, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2025.

Mission

THE ASSOCIATION PROMOTES A PROFESSIONAL COMMUNITY OF TURNAROUND AND CORPORATE RENEWAL PROFESSIONALS WHO SHARE A COMMON INTEREST IN STRENGTHENING THE ECONOMY THROUGH THE RESTORATION OF CORPORATE VALUE AND IS DEDICATED TO THE PROMOTION OF HIGH PRACTICE STANDARDS AND EXCHANGE OF INFORMATION.

Program Service Accomplishments

Program 1

EVENTS HELD TO PROMOTE THE TURNAROUND MANAGEMENT ASSOCIATION MIDWEST CHAPTER WHICH ALLOWS MEMBERS AND EVENT GUESTS TO NETWORK AND OBTAIN NEW INFORMATION ON THE TURNAROUND INDUSTRY.

Program 2

MEMBER PROGRAMS, INCLUDING THE CHAPTER BREAKFAST, EVENING AND SENIOR LEADER CONTINUING EDUCATION PROGRAMS. PROGRAMS SERVE CHAPTER MEMBERSHIP AND OTHER PROFESSIONAL AND FINANCIAL ADVISORS IN THE...

MEMBER PROGRAMS, INCLUDING THE CHAPTER BREAKFAST, EVENING AND SENIOR LEADER CONTINUING EDUCATION PROGRAMS. PROGRAMS SERVE CHAPTER MEMBERSHIP AND OTHER PROFESSIONAL AND FINANCIAL ADVISORS IN THE CORPORATE TURNAROUND INDUSTRY.

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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 (2025)

Revenue Breakdown

Contributions & Grants $41,625

Program Service Revenue $1,201,033

Investment Income $14,700

Other Revenue $1,251

TOTAL REVENUE $1,258,609

Expense Breakdown

Grants Paid $40,112

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,225,713

TOTAL EXPENSES $1,265,825

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,258,609	$1,247,804	+0.0%
Expenses	$1,265,825	$1,012,502	+0.3%
Net Income	$-7,216	$235,302	-1.0%

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

N/A

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
DAVID LEVY	PRESIDENT	4.00	Officer Director	$0	$0	$0
SANDY PRABHAKAR	PRESIDENT-ELECT	3.00	Officer Director	$0	$0	$0
MARK SILVERMAN	VP COMMUNICATIONS	3.00	Officer Director	$0	$0	$0
PAUL MUSSER	VP EDUCATION	3.00	Officer Director	$0	$0	$0
KOBUS VAN DER ZEL CTP	VP MEMBERSHIP	3.00	Officer Director	$0	$0	$0
JAMIE COTE	VP PROGRAMS	3.00	Officer Director	$0	$0	$0
KEVIN TAVAKOLI	TREASURER	3.00	Officer Director	$0	$0	$0
ERIN WEST	SECRETARY	3.00	Officer Director	$0	$0	$0
JACK O'CONNOR	IMMEDIATE PAST PRESIDENT	3.00	Officer Director	$0	$0	$0
GAIL HELDKE	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN KRAKORA	DIRECTOR	1.00	Director	$0	$0	$0
ANGELA ALLEN	DIRECTOR	1.00	Director	$0	$0	$0
VIRGINIA GEORGE	DIRECTOR	1.00	Director	$0	$0	$0
SAMMY RUBEN	DIRECTOR	1.00	Director	$0	$0	$0
CATALIN DIACONU	DIRECTOR	1.00	Director	$0	$0	$0
MARK SILVERMAN	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL BOYER	DIRECTOR	1.00	Director	$0	$0	$0
TINA HUGHES CTP	DIRECTOR	1.00	Director	$0	$0	$0
ALEX BOEREMA	DIRECTOR	1.00	Director	$0	$0	$0
ROB MEYERS	DIRECTOR	1.00	Director	$0	$0	$0
JIM KEANE	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	$1,258,609	$1,265,825	$1,548,783	$-7,216
2024	$1,247,804	$1,012,502	$1,591,948	$235,302
2023	$1,149,356	$1,046,378	$1,357,175	$102,978
2022	$1,100,551	$1,185,002	$1,100,240	$-84,451
2021	$878,298	$671,267	$1,189,356	$207,031
2020	$385,723	$354,094	$981,731	$31,629
2019	$1,044,909	$1,010,500	$941,868	$34,409
2018	$982,155	$938,814	$956,224	$43,341

CHICAGOMIDWEST CHAPTER OF THE TURNAROUND MANAGEMENT ASSOCIATION