MUSKEGON LAKESHORE CHAMBER OF COMMERCE (EIN 382827380) - 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

1988

Legal Domicile

Principal Officer

RACHEL GORMAN

Phone

2317223751

Tax Period

2024-01-01 to 2024-12-31

MUSKEGON LAKESHORE CHAMBER OF COMMERCE, founded in 1988, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2024. Revenue decreased 19% compared to the prior year. Expenses of $990K left a modest 9% surplus.

Mission

MEMBER PROGRAMS/SERVICES, ECONOMIC DEVELOPMENT

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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 $0

Program Service Revenue $884,243

Investment Income $184,808

Other Revenue $17,488

TOTAL REVENUE $1,086,539

Expense Breakdown

Grants Paid $60,000

Salaries & Benefits $648,977

Fundraising Expenses $0

Other Expenses $281,000

TOTAL EXPENSES $989,977

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,086,539	$1,348,251	-0.2%
Expenses	$989,977	$1,076,353	-0.1%
Net Income	$96,562	$271,898	-0.6%

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

$115,678

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CYNTHIA LARSEN	PRESIDENT	20.00	Officer	$115,678	$0	$115,678
ANNA DUGGINS	VICE CHAIR	1.00	Officer	$0	$0	$0
JOEL KAMP	TREASURER	1.00	Officer	$0	$0	$0
JONATHAN WILSON	SECRETARY	1.00	Officer	$0	$0	$0
PAULA KENDRA	DIRECTOR	1.00	Director	$0	$0	$0
DAVID RAMOS	DIRECTOR	1.00	Director	$0	$0	$0
JACK RUSSELL	DIRECTOR	1.00	Director	$0	$0	$0
KAJA THORNTON HUNTER	DIRECTOR	1.00	Director	$0	$0	$0
CATHY NYE	DIRECTOR	1.00	Director	$0	$0	$0
AARON MAIKE	DIRECTOR	1.00	Director	$0	$0	$0
MARLA SCHNEIDER	DIRECTOR	1.00	Director	$0	$0	$0
RANDILYNN TALSMA	DIRECTOR	1.00	Director	$0	$0	$0
SHARLENE SHINELDECKER	DIRECTOR	1.00	Director	$0	$0	$0
ALEXANDRE FONSECA	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY CAVE	DIRECTOR	1.00	Director	$0	$0	$0
NANCY WESTGATE-SYTSEMA	DIRECTOR	1.00	Director	$0	$0	$0
RACHEL GORMAN	PRESIDENT	20.00	Officer 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	$1,086,539	$989,977	$2,679,558	$96,562
2023	$1,348,251	$1,076,353	$2,628,868	$271,898
2023	$1,348,251	$1,076,353	$2,628,868	$271,898
2022	$1,136,334	$1,070,826	$2,337,736	$65,508
2021	$1,208,543	$1,098,239	$2,282,243	$110,304
2020	$1,167,970	$1,056,314	$2,111,861	$111,656
2019	$1,446,300	$1,293,455	$1,911,954	$152,845
2018	$1,212,108	$1,253,041	$1,703,098	$-40,933

MUSKEGON LAKESHORE CHAMBER OF COMMERCE