BLUE WATER 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

1944

Legal Domicile

Principal Officer

THELMA CASTILLO

Phone

8109857101

Tax Period

2023-01-01 to 2023-12-31

BLUE WATER AREA CHAMBER OF COMMERCE, founded in 1944, is a small nonprofit that reported $538K in total revenue in fiscal year 2023. Expenses of $504K left a modest 6% surplus.

Mission

TO UNITE BUSINESS PROFESSIONALS AND CITIZENS IN PROMOTING BUSINESS AND ECONOMIC DEVELOPMENT IN THE GREATER BLUE WATER AREA

Program Service Accomplishments

Program 1

Expenses: $171,116 Revenue: $219,867

THE BLUE WATER AREA CHAMBER OF COMMERCE STRIVES TO RETAIN ITS EXISTING MEMBERSHIP WHILE UTILIZING EVERY OPPORTUNITY TO CONTINUE GROWING ITS MEMBERSHIP.

Program 2

Revenue: $25,000

THE BLUE WATER AREA CHAMBER OF COMMERCE ACTIVELY PROMOTES AND MANAGES BCBSM HEALTH CARE PROGRAMS IN THE GREATER BLUE WATER AREA.

Program 3

Expenses: $6,061 Revenue: $5,000

THE BLUE WATER AREA CHAMBER OF COMMERCE DISTRIBUTES GRANT MONEY FROM LOCAL FOUNDATION TO LOCAL BUSINESSES

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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 $278,201

Program Service Revenue $240,662

Investment Income $5

Other Revenue $18,949

TOTAL REVENUE $537,817

Expense Breakdown

Grants Paid $0

Salaries & Benefits $179,564

Fundraising Expenses $0

Program Expenses $177,177

Other Expenses $324,676

TOTAL EXPENSES $504,240

Year-over-Year Comparison

	2023	2022	Change
Revenue	$537,817	$563,038	0.0%
Expenses	$504,240	$494,385	+0.0%
Net Income	$33,577	$68,653	-0.5%

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

$65,823

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NATACHA HAYDEN	DIRECTOR	2.00	Director	$0	$0	$0
JONATHAN HOLDEN	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD LAFRAMBOISE	DIRECTOR	2.00	Director	$0	$0	$0
HAROLD POWELL	DIRECTOR	2.00	Director	$0	$0	$0
DAN CASEY	DIRECTOR	2.00	Director	$0	$0	$0
SCOTT HAMILTON	DIRECTOR	2.00	Director	$0	$0	$0
MICHELLE EASTER	DIRECTOR	2.00	Director	$0	$0	$0
HEATHER BEARDEN	DIRECTOR	2.00	Director	$0	$0	$0
JO LYNN MANNS	DIRECTOR	2.00	Director	$0	$0	$0
MALLORY MOORE	DIRECTOR	2.00	Director	$0	$0	$0
CATHERINE MILLS	DIRECTOR	2.00	Director	$0	$0	$0
JENNIFER CARBARY	DIRECTOR	2.00	Director	$0	$0	$0
DAYSHA WOODLEY	DIRECTOR	2.00	Director	$0	$0	$0
CHRIS FLANN	TREASURER	2.00	Officer	$0	$0	$0
STEPHANIE BARON	OFFICER	2.00	Officer	$0	$0	$0
BONNIE DINARDO	OFFICER	2.00	Officer	$0	$0	$0
KORISSA KRAMER	CHAIR	2.00	Officer	$0	$0	$0
THELMA CASTILLO	SECRETARY/ PRESIDENT	40.00	Officer	$65,823	$0	$65,823
NANCY WINZER	OFFICER	2.00	Officer	$0	$0	$0
GINO GIACUMBO	CHAIR ELECT	2.00	Officer	$0	$0	$0
STEVE FERNANDEZ	OFFICER	2.00	Officer	$0	$0	$0
KEVIN TOTTY	OFFICER	2.00	Officer	$0	$0	$0
TREVOR WALKER	OFFICER	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	$537,817	$504,240	$409,352	$33,577
2022	$563,038	$494,385	$368,548	$68,653
2021	$406,013	$301,312	$344,250	$104,701
2020	$290,622	$277,435	$214,707	$13,187
2019	$356,880	$323,080	$189,718	$33,800
2018	$344,284	$323,083	$145,412	$21,201