TROY CHAMBER OF COMMERCE (EIN 381973921) - 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

1959

Legal Domicile

Principal Officer

STEPHEN MIHALIK

Phone

2486418151

Tax Period

2023-01-01 to 2023-12-31

TROY CHAMBER OF COMMERCE, founded in 1959, is a small nonprofit that reported $484K in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year.

Mission

TO PROMOTE THE GENERAL WELFARE OF THE COMMERICAL AND INDUSTRIAL DEVELOPMENT AND GENERAL INTERESTS OF THE CITY OF TROY AND TRADE 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 $283,780

Program Service Revenue $139,589

Investment Income $6,394

Other Revenue $54,151

TOTAL REVENUE $483,914

Expense Breakdown

Grants Paid $0

Salaries & Benefits $374,550

Fundraising Expenses $0

Other Expenses $111,145

TOTAL EXPENSES $485,695

Year-over-Year Comparison

	2023	2022	Change
Revenue	$483,914	$530,542	-0.1%
Expenses	$485,695	$470,955	+0.0%
Net Income	$-1,781	$59,587	-1.0%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

Total Directors

$130,750

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN R MIHALIK	TREASURER	2.00	Officer Director	$0	$0	$0
NELSON LAGERBOHM	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES VERCELLONE	DIRECTOR	1.00	Director	$0	$0	$0
TARA TOMCSIK	PRESIDENT	37.50	Director	$130,750	$0	$130,750
MARK A GELBMAN	VICE CHAIR	2.00	Officer Director	$0	$0	$0
DR JOAN HAAKONSTAD	DIRECTOR	1.00	Director	$0	$0	$0
GREG KROESING	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN PETERS	IMMEDIATE PAST CHAIR	3.00	Officer Director	$0	$0	$0
CRAIG VANDERBURG	DIRECTOR	1.00	Director	$0	$0	$0
BRAD BYRNES	DIRECTOR	1.00	Director	$0	$0	$0
THERESA DOAN	CHAIR	3.00	Officer Director	$0	$0	$0
KERRY BIRMINGHAM	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE CROCKETT	DIRECTOR	1.00	Director	$0	$0	$0
MATT FLYNN	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER WHITTEAKER	SECRETARY	1.00	Officer Director	$0	$0	$0
DEBORAH JAGOW	DIRECTOR	1.00	Director	$0	$0	$0
HEATH ROBERTS	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA WALKER-LEIDY	DIRECTOR	1.00	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	No data	No data	No data	No data
2023	$483,914	$485,695	$576,579	$-1,781
2022	$530,542	$470,955	$484,880	$59,587
2021	$488,997	$438,062	$493,500	$50,935
2020	$496,771	$447,115	$414,115	$49,656
2019	$464,377	$435,087	$326,092	$29,290
2018	$473,548	$467,442	$307,488	$6,106

TROY CHAMBER OF COMMERCE