PETOSKEY REGIONAL CHAMBER OF COMME… - 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

1920

Legal Domicile

Principal Officer

MONIQUE DEVITT

Phone

2313474150

Tax Period

2024-01-01 to 2024-12-31

PETOSKEY REGIONAL CHAMBER OF COMMERCE, founded in 1920, is a small nonprofit that reported $616K in total revenue in fiscal year 2024. Expenses of $573K left a modest 7% surplus.

Mission

THE CHAMBER'S MISSION IS TO HELP BUSINESSES IN THE PETOSKEY REGION SUCCEED WHILE PROTECTING OUR COMMUNITY'S QUALITY OF LIFE.

Program Service Accomplishments

Program 1

Expenses: $25,414

PROVIDED OPPORTUNITIES FOR AREA WOMEN BUSINESS LEADERS AND BUSINESS OWNERS TO LEARN, FORM CONNECTIONS, SHARE IDEAS AND PROVIDE OPPORTUNITIES FOR PERSONAL AND PROFESSIONAL GROWTH. THE GROUP ALSO...

PROVIDED OPPORTUNITIES FOR AREA WOMEN BUSINESS LEADERS AND BUSINESS OWNERS TO LEARN, FORM CONNECTIONS, SHARE IDEAS AND PROVIDE OPPORTUNITIES FOR PERSONAL AND PROFESSIONAL GROWTH. THE GROUP ALSO PROMOTED INITIATIVES OF FEMALE STUDENTS BY PROVIDING "GO GRANTS" WHICH SERVED AS SCHOLARSHIPS TO SEND YOUNG WOMEN TO CAMPS, CLASSES AND OTHER PROGRAMS THAT PROMOTE THE ADVANCEMENT OF YOUNG WOMEN.

Program 2

Expenses: $17,844

THE CHAMBER SPONSORS A LEADERSHIP PROGRAM CALLED LEADERSHIP LITTLE TRAVERSE EACH YEAR. THIS 9-MONTH PROFESSIONAL LEADERSHIP PROGRAM WAS OFFERED TO A CLASS OF 16 EMPLOYEES OF CHAMBER MEMBERS TO...

THE CHAMBER SPONSORS A LEADERSHIP PROGRAM CALLED LEADERSHIP LITTLE TRAVERSE EACH YEAR. THIS 9-MONTH PROFESSIONAL LEADERSHIP PROGRAM WAS OFFERED TO A CLASS OF 16 EMPLOYEES OF CHAMBER MEMBERS TO INSPIRE AND PREPARE CIVIC LEADERS IN THE LITTLE TRAVERSE BAY REGION TO TAKE ACTION AND BETTER OUR COMMUNITY.

Program 3

Expenses: $13,369

THE CHAMBER SPONSORED A GOLF OUTING IN SEPTEMBER. THE EVENT WAS INTENDED TO PROVIDE A NETWORKING OPPORTUNITY FOR ITS MEMBERS.

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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 $321,421

Program Service Revenue $250,503

Investment Income $359

Other Revenue $43,515

TOTAL REVENUE $615,798

Expense Breakdown

Grants Paid $0

Salaries & Benefits $330,043

Fundraising Expenses $0

Program Expenses $56,627

Other Expenses $242,959

TOTAL EXPENSES $573,002

Year-over-Year Comparison

	2024	2023	Change
Revenue	$615,798	$579,447	+0.1%
Expenses	$573,002	$542,675	+0.1%
Net Income	$42,796	$36,772	+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

$96,098

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BECKY PHILIP-KRANIG	DIRECTOR	2.00	Director	$0	$0	$0
JAKE MANTHEI	DIRECTOR	2.00	Director	$0	$0	$0
BRIAN BATES	DIRECTOR	2.00	Director	$0	$0	$0
MARY FOSTER	DIRECTOR	2.00	Director	$0	$0	$0
DAN POLLEYS	DIRECTOR	2.00	Director	$0	$0	$0
JOHN FETTIG	DIRECTOR	2.00	Director	$0	$0	$0
DIANE HANSELL	DIRECTOR	2.00	Director	$0	$0	$0
REGINA PATTON	DIRECTOR	2.00	Director	$0	$0	$0
HAYDEN HOOPER	DIRECTOR	2.00	Director	$0	$0	$0
LYNN ECKERLE	DIRECTOR	2.00	Director	$0	$0	$0
KEITH BRADDOCK	SECRETARY	2.00	Officer Director	$0	$0	$0
MIKE CHUMBLER	OFFICER AT LARGE	2.00	Officer Director	$0	$0	$0
SARAH ULRICH	TREASURER	2.00	Officer Director	$0	$0	$0
BEN SLOCUM	VICE CHAIR	2.00	Officer Director	$0	$0	$0
WILLIAM MEENGS JR	PAST CHAIR	2.00	Officer Director	$0	$0	$0
STEPHANIE BALDWIN	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
MONIQUE DEVITT	PRESIDENT	40.00	Officer	$96,098	$0	$96,098

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	$615,798	$573,002	$654,009	$42,796
2023	$579,447	$542,675	$607,170	$36,772
2022	$534,291	$475,658	$575,446	$58,633
2021	$516,854	$413,184	$512,892	$103,670
2020	$468,963	$416,582	$392,655	$52,381
2019	$632,601	$675,628	$340,940	$-43,027
2018	$611,741	$604,935	$391,910	$6,806

PETOSKEY REGIONAL CHAMBER OF COMMERCE