Lowell Area Chamber of Commerce

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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

1906

Legal Domicile

Principal Officer

Shannon Kennedy

Phone

6168979161

Tax Period

2024-01-01 to 2024-12-31

Lowell Area Chamber of Commerce, founded in 1906, is a small nonprofit that reported $213K in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year.

Mission

To promote commerce and community harmony.

Program Service Accomplishments

Program 1

Staff visitor center where appoximately 1,000 visitors receive information and facilities enjoyment.

Program 2

Sponsor approximately 20 community events drawing approximately 25,000 citizens and visitors to the downtown area. These events promote area business and community harmony.

Program 3

Sponsor training programs which provide training and support to businesses and volunteers.

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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 $111,373

Program Service Revenue $81,359

Investment Income $7,036

Other Revenue $13,671

TOTAL REVENUE $213,439

Expense Breakdown

Grants Paid $0

Salaries & Benefits $101,659

Fundraising Expenses $0

Other Expenses $132,880

TOTAL EXPENSES $234,539

Year-over-Year Comparison

	2024	2023	Change
Revenue	$213,439	$228,501	-0.1%
Expenses	$234,539	$230,858	+0.0%
Net Income	$-21,100	$-2,357	+8.0%

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

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

$61,248

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jared Kellum	President	0.00	Officer Director	$0	$0	$0
Beryl Bartkus	Vice President	0.00	Officer Director	$0	$0	$0
Paul Mundt	Treasurer	0.00	Officer Director	$0	$0	$0
Lou D'Augostino	Director	0.00	Director	$0	$0	$0
Dave Emmet	Director	0.00	Director	$0	$0	$0
Julie Dykhouse	Director	0.00	Director	$0	$0	$0
Evan Omiston	Director	0.00	Director	$0	$0	$0
Ian Deming	Director	0.00	Director	$0	$0	$0
Shannon Kennedy	Executive Director	40.00	Director	$58,453	$2,795	$61,248

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	$213,439	$234,539	$205,074	$-21,100
2023	$228,501	$230,858	$224,672	$-2,357
2021	$204,742	$161,887	$218,166	$42,855
2019	$202,446	$190,312	$132,483	$12,134