Grand Rapids Area Chamber of Commerce (EIN 380592500) - Form 990 Financial Analysis & Trantor Score

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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

1888

Legal Domicile

Principal Officer

Rick Baker

Phone

6167710350

Tax Period

2024-01-01 to 2024-12-31

Grand Rapids Area Chamber of Commerce, founded in 1888, is a community nonprofit in the Community Improvement sector that reported $5.6M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $6.1M exceeded revenue, resulting in a 10% operating deficit.

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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 $441,060

Program Service Revenue $4,224,516

Investment Income $58,740

Other Revenue $861,541

TOTAL REVENUE $5,585,857

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,044,848

Fundraising Expenses $0

Other Expenses $2,104,039

TOTAL EXPENSES $6,148,887

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,585,857	$4,950,226	+0.1%
Expenses	$6,148,887	$5,221,299	+0.2%
Net Income	$-563,030	$-271,073	+1.1%

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

$539,908

Total Directors

$366,721

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
James Byl	President	1.00	Officer Director	$0	$0	$0
Jeff Lumpp	Treasurer	1.00	Officer Director	$0	$0	$0
Jennifer Crowley	Director	1.00	Director	$0	$0	$0
Alisha Cieslak	Director	1.00	Director	$0	$0	$0
Brad Thomas	Director	1.00	Director	$0	$0	$0
David Leonard	Director	1.00	Director	$0	$0	$0
Diana Lawson	Director	1.00	Director	$0	$0	$0
Hannah Nalter	Director	1.00	Director	$0	$0	$0
Tracey Hornbeck	Director	1.00	Director	$0	$0	$0
John VanFossen	Director	1.00	Director	$0	$0	$0
Krista Flynn	Director	1.00	Director	$0	$0	$0
Steven Miller	Director	1.00	Director	$0	$0	$0
Michael Davenport	Director	1.00	Director	$0	$0	$0
Michael Nelson	Director	1.00	Director	$0	$0	$0
Natalie Stewart	Director	1.00	Director	$0	$0	$0
Robert Hughes	Director	1.00	Director	$0	$0	$0
Ruben Ramos	Director	1.00	Director	$0	$0	$0
Ana Ramirez Saenz	Director	1.00	Director	$0	$0	$0
William Brennan	Director	1.00	Director	$0	$0	$0
Randy Thelen	Director	1.00	Director	$0	$0	$0
Lauren Snyder	Director	1.00	Director	$0	$0	$0
Ken Misiewicz	Director	1.00	Director	$0	$0	$0
Zach Verhulst	Director	1.00	Director	$0	$0	$0
Rick Baker	CEO	40.00	Officer Director	$335,321	$31,400	$366,721
Kate Wezeman	VP of Finance and Operations	40.00	Officer	$155,796	$17,391	$173,187
Omar Cuevas	VP of Sales and Marketing	40.00	Highest	$200,786	$19,894	$220,680
Andy Johnston	Sr. Vice President of Advocacy & Strategic Engagement	40.00	Highest	$151,300	$27,832	$179,132
Joshua Lunger	VP of Government Affairs	40.00	Highest	$125,836	$14,994	$140,830
Yadira Garza-Malone	Director of development	40.00	Highest	$103,794	$19,211	$123,005

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	$5,585,857	$6,148,887	$9,933,804	$-563,030
2023	$4,950,226	$5,221,299	$10,457,694	$-271,073
2022	$4,611,540	$4,728,426	$9,810,663	$-116,886
2022	$4,611,540	$4,728,426	$9,810,663	$-116,886
2021	$4,480,644	$4,136,379	$4,793,267	$344,265
2020	$4,485,674	$3,512,272	$4,476,208	$973,402
2019	$3,652,836	$3,600,542	$2,957,382	$52,294
2018	$4,489,180	$4,048,694	$2,913,123	$440,486

Grand Rapids Area Chamber of Commerce