WYOMING AREA CHAMBER OF COMMERCE

EIN: 382343098

WYOMING, MI

Total Revenue
$190,793
Total Expenses
$220,474
Total Assets
$37,441
Net Assets
$34,693
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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
1980
Legal Domicile
MI
Principal Officer
KEITH MORGAN
Phone
6165315990
Tax Period
2023-01-01 to 2023-12-31

WYOMING AREA CHAMBER OF COMMERCE, founded in 1980, is a small nonprofit that reported $191K in total revenue in fiscal year 2023. Revenue surged 33% from the prior year, signaling strong growth momentum. Expenses of $220K exceeded revenue, resulting in a 16% operating deficit.

Mission

CHAMBER OF COMMERCE - DEVELOP AND IMPROVE BUSINESS CONDITIONS IN THE WYOMING AND KENTWOOD AREA

Program Service Accomplishments

Program 1

COMMUNITY RELATIONS: METRO CRUISE ATTRACTS AN ESTIMATED 250,000 VISITORS TO THE WYOMING AND KENTWOOD AREA. PROMOTES COMMUNITY AND LOCAL BUSINESSES.

Program 2

ANNUAL MEETING TO RECOGNIZE LOCAL BUSINESSES, MEMBERS AND VOLUNTEERS WHO DEDICATE THEIR TIME TO BENEFIT OUR BUSINESS COMMUNITY.

Program 3

MEMBER RELATIONS: NETWORKING MEETINGS TO PROVIDE VENUE FOR MEMBERS TO EXCHANGE INFORMATION AND SALES LEADS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $44,925
Program Service Revenue $150,939
Investment Income $665
Other Revenue $-5,736
TOTAL REVENUE $190,793

Expense Breakdown

Grants Paid $0
Salaries & Benefits $129,372
Fundraising Expenses $0
Other Expenses $91,102
TOTAL EXPENSES $220,474

Year-over-Year Comparison

2023 2022 Change
Revenue $190,793 $143,347 +0.3%
Expenses $220,474 $170,213 +0.3%
Net Income $-29,681 $-26,866 +0.1%
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
6
Volunteers
75

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
1
$77,291
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEITH MORGAN PRESIDENT 40.00
Officer
$73,884 $3,407 $77,291
BILL HAHN DIRECTOR N/A
Director
$0 $0 $0
CASEY O'NEILL DIRECTOR N/A
Director
$0 $0 $0
VALERIE COOK BOARD CHAIR N/A
Director
$0 $0 $0
EMMY WARNER DIRECTOR N/A
Director
$0 $0 $0
NICK KUNCAITIS BOARD VICE C N/A
Director
$0 $0 $0
SUMMER VASQUEZ BOARD SENIOR N/A
Director
$0 $0 $0
SHANE MYAS DIRECTOR N/A
Director
$0 $0 $0
BETSEY ARTZ DIRECTOR N/A
Director
$0 $0 $0
JONATHAN WILSON DIRECTOR N/A
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
2023 $190,793 $220,474 $37,441 $-29,681
2022 $143,347 $170,213 $64,588 $-26,866
2021 $99,944 $97,572 $92,447 $2,372
2020 $136,614 $128,295 $116,238 $8,319
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