BIRMINGHAM-BLOOMFIELD CHAMBER OF COMMERCE

EIN: 381288268

BIRMINGHAM, MI

Total Revenue
$358,207
Total Expenses
$444,893
Total Assets
$359,431
Net Assets
$359,431
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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
1947
Legal Domicile
MI
Principal Officer
VINCENT GOTKO
Phone
2486441700
Tax Period
2024-01-01 to 2024-12-31

BIRMINGHAM-BLOOMFIELD CHAMBER OF COMMERCE, founded in 1947, is a small nonprofit that reported $358K in total revenue in fiscal year 2024. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $445K exceeded revenue, resulting in a 24% operating deficit.

Mission

TO SERVE OUR SIX COMMUNITIES AS THEIR LEADING RESOURCE FOR ADVANCING BUSINESS INTERESTS AND BUILDING RELATIONSHIPS.

Program Service Accomplishments

Program 1

TO SERVE OUR SIX COMMUNITIES AS THEIR LEADING RESOURCE FOR ADVANCING BUSINESS INTERESTS AND BUILDING RELATIONSHIPS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $70,259
Investment Income $9,219
Other Revenue $278,729
TOTAL REVENUE $358,207

Expense Breakdown

Grants Paid $18,000
Salaries & Benefits $334,090
Fundraising Expenses $0
Other Expenses $92,803
TOTAL EXPENSES $444,893

Year-over-Year Comparison

2024 2023 Change
Revenue $358,207 $496,161 -0.3%
Expenses $444,893 $406,794 +0.1%
Net Income $-86,686 $89,367 -2.0%
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

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Governance

Voting Members
14
Independent Members
N/A
Employees
5
Volunteers
40

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
2
$0
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JASON CANVASSER DIRECTOR 0.50
Director
$0 $0 $0
VINCENT GOTKO TREASURER 0.50
Officer Director
$0 $0 $0
BONNIE NEWCOMER DIRECTOR 0.50
Director
$0 $0 $0
MICHELLE RAFALSKI DIRECTOR 0.50
Director
$0 $0 $0
STEPHEN GUY DIRECTOR 0.50
Director
$0 $0 $0
CATHY KOSIN DIRECTOR 0.50
Director
$0 $0 $0
VALERIE GUNN DIRECTOR 0.50
Director
$0 $0 $0
ANNIE VANGELDEREN CHAIR 0.50
Officer Director
$0 $0 $0
ELLEN MAHONEY DIRECTOR 0.50
Director
$0 $0 $0
LAUREN ROYSTON DIRECTOR 0.50
Director
$0 $0 $0
ERIC JAKOVAC DIRECTOR 0.50
Director
$0 $0 $0
KEN SEAWELL DIRECTOR 0.50
Director
$0 $0 $0
D RYAN WOLF DIRECTOR 0.50
Director
$0 $0 $0
MARK WEBBERLY DIRECTOR 0.50
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
2024 $358,207 $444,893 $359,431 $-86,686
2023 $496,161 $406,794 $446,117 $89,367
2022 $391,318 $368,560 $356,750 $22,758
2021 $322,559 $343,011 $333,992 $-20,452
2020 $351,108 $321,219 $354,444 $29,889
2019 $400,634 $363,696 $328,608 $36,938
2018 $399,905 $357,929 $292,005 $41,976
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