CHAMBER OF COMMERCE OF NOVI MICHIG… - Form 990 Financial Data

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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

1967

Legal Domicile

Principal Officer

BRYAN SMITH

Phone

2483493743

Tax Period

2024-01-01 to 2024-12-31

CHAMBER OF COMMERCE OF NOVI MICHIGAN, founded in 1967, is a small nonprofit that reported $323K in total revenue in fiscal year 2024. Revenue surged 50% from the prior year, signaling strong growth momentum.

Mission

MISSION IS TO PROVIDE EVENTS, PROGRAMS, AND SERVICES THAT HAVE SIGNIFICANT VALUE TO MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $93,072

PROVIDE EDUCATIONAL OPPORTUNITIES AND SMALL SOCIAL NETWORKING EVENTS FOR MEMBERS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $139,540

Program Service Revenue $149,017

Investment Income $8,506

Other Revenue $25,490

TOTAL REVENUE $322,553

Expense Breakdown

Grants Paid $0

Salaries & Benefits $157,979

Fundraising Expenses $0

Program Expenses $93,072

Other Expenses $171,898

TOTAL EXPENSES $329,877

Year-over-Year Comparison

	2024	2023	Change
Revenue	$322,553	$214,588	+0.5%
Expenses	$329,877	$288,904	+0.1%
Net Income	$-7,324	$-74,316	-0.9%

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

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOI DURANT	DIRECTOR	5.00	Director	$0	$0	$0
KELLY HORN	DIRECTOR	5.00	Director	$0	$0	$0
MICHAEL WEHRLE	DIRECTOR	5.00	Director	$0	$0	$0
MAUREEN KELLY-NICHOLS	DIRECTOR	5.00	Director	$0	$0	$0
BEN MAINKA	DIRECTOR	5.00	Director	$0	$0	$0
JOHN O'BRIEN	DIRECTOR	5.00	Director	$0	$0	$0
KELSEY AMES	DIRECTOR	5.00	Director	$0	$0	$0
SHERYL WALSH-MOLLOY	DIRECTOR	5.00	Director	$0	$0	$0
BRYAN SMITH	CHAIR	5.00	Officer	$0	$0	$0
AARON TAYLOR	VICE CHAIR	5.00	Officer	$0	$0	$0
MIKE MCKINNEY	TREASURER	5.00	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
2025	No data	No data	No data	No data
2024	$322,553	$329,877	$176,165	$-7,324
2023	$214,588	$288,904	$155,853	$-74,316
2022	$217,770	$197,762	$230,169	$20,008
2020	$269,511	$240,608	$225,569	$28,903
2019	$254,147	$231,817	$196,666	$22,330
2018	$236,614	$200,550	$174,455	$36,064

CHAMBER OF COMMERCE OF NOVI MICHIGAN