ALPENA 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

1942

Legal Domicile

Principal Officer

NICHOLAS BREGE

Phone

9893544181

Tax Period

2023-01-01 to 2023-12-31

ALPENA AREA CHAMBER OF COMMERCE, founded in 1942, is a small nonprofit that reported $288K in total revenue in fiscal year 2023. Revenue decreased 20% compared to the prior year.

Mission

PROJECTS, PROGRAMS AND COMMITTEES ALL FUNCTION TO PROMOTE THE INTERESTS OF BUSINESS AND TOURISM IN THE ALPENA AREA.

Program Service Accomplishments

Program 1

THE ALPENA AREA CHAMBER OF COMMERCE CONDUCTS PROGRAMS TO PROMOTE BUSINESS AND TOURISM IN THE ALPENA AREA.

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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 $0

Program Service Revenue $260,187

Investment Income $636

Other Revenue $27,496

TOTAL REVENUE $288,319

Expense Breakdown

Grants Paid $0

Salaries & Benefits $176,998

Fundraising Expenses $2,401

Other Expenses $124,213

TOTAL EXPENSES $301,211

Year-over-Year Comparison

	2023	2022	Change
Revenue	$288,319	$358,213	-0.2%
Expenses	$301,211	$395,834	-0.2%
Net Income	$-12,892	$-37,621	-0.7%

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

$88,576

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM POLL	PRESIDENT/CE	40.00	Officer	$88,576	$0	$88,576
JULIE ALLEN	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT BARRIGAR	DIRECTOR	1.00	Director	$0	$0	$0
TOM BERRIMAN	PAST CHAIRP	1.00	Director	$0	$0	$0
ANN BOYK	DIRECTOR	1.00	Director	$0	$0	$0
JUDGE ALAN CURTIS	DIRECTOR	1.00	Director	$0	$0	$0
MIKE ERICKSON	DIRECTOR	1.00	Director	$0	$0	$0
JEFF GRAY	DIRECTOR	1.00	Director	$0	$0	$0
ADAM SZYDLOWSKI	VICE CHAIRPE	2.00	Director	$0	$0	$0
KAROL WALCHAK	DIRECTOR	1.00	Director	$0	$0	$0
NICHOLAS BREGE	CHAIRPERSON	2.00	Officer	$0	$0	$0
JANIS SAHR	SECRETARY/TR	2.00	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
2024	No data	No data	No data	No data
2023	$288,319	$301,211	$296,819	$-12,892
2022	$358,213	$395,834	$278,164	$-37,621
2021	$350,731	$359,749	$343,921	$-9,018
2020	$364,724	$341,805	$306,619	$22,919
2019	$371,476	$416,895	$307,725	$-45,419
2018	$336,153	$376,871	$344,891	$-40,718