CANTON CHAMBER OF COMMERCE

EIN: 382087835

CANTON, MI

Total Revenue
$168,109
Total Expenses
$226,986
Total Assets
$478,531
Net Assets
$307,979
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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
2008
Legal Domicile
MI
Phone
7344534040
Tax Period
2024-01-01 to 2024-12-31

CANTON CHAMBER OF COMMERCE, founded in 2008, is a small nonprofit that reported $168K in total revenue in fiscal year 2024. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $227K exceeded revenue, resulting in a 35% operating deficit.

Mission

BUSINESS ACTIVITIES, PROGRAMS AND INFORMATION FOR THE COMMUNITY

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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 $115,888
Program Service Revenue $0
Investment Income $3,669
Other Revenue $48,552
TOTAL REVENUE $168,109

Expense Breakdown

Grants Paid $0
Salaries & Benefits $164,241
Fundraising Expenses $0
Program Expenses $226,986
Other Expenses $62,745
TOTAL EXPENSES $226,986

Year-over-Year Comparison

2024 2023 Change
Revenue $168,109 $227,925 -0.3%
Expenses $226,986 $252,163 -0.1%
Net Income $-58,877 $-24,238 +1.4%
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
10
Independent Members
10
Employees
5
Volunteers
50

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
5
$73,002
Total Directors
10
$0
Key Employees
1
$73,002
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THOMAS PADEN PRESIDENT 40.00
Officer Key Emp
$73,002 $0 $73,002
HENRY HAIDOUS DIRECTOR 0.50
Director
$0 $0 $0
ANDREA RODGERS DIRECTOR 0.50
Director
$0 $0 $0
DEVON SMITH CHAIR 0.50
Officer Director
$0 $0 $0
BETHANY PARISH DIRECTOR 0.50
Director
$0 $0 $0
JEFF GRAUNKE CHAIR ELECT 0.50
Officer Director
$0 $0 $0
FRANK RUGGIRELLO SECRETARY 0.50
Officer Director
$0 $0 $0
SCOTT MCGLONE TREASURER 0.50
Officer Director
$0 $0 $0
ABE KARAALI DIRECTOR 0.50
Director
$0 $0 $0
JULIE PICCONE DIRECTOR 0.00
Director
$0 $0 $0
KIRSTIE STAELLENS 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 $168,109 $226,986 $478,531 $-58,877
2023 $227,925 $252,163 $424,093 $-24,238
2022 $224,831 $252,261 $445,365 $-27,430
2021 $175,180 $206,909 $481,521 $-31,729
2020 $146,830 $196,053 $526,635 $-49,223
2019 $198,836 $231,577 $466,881 $-32,741
2018 $221,245 $281,076 $483,195 $-59,831
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