WATERFORD 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

1998

Legal Domicile

Principal Officer

TIM HARRY

Phone

2486668600

Tax Period

2024-01-01 to 2024-12-31

WATERFORD AREA CHAMBER OF COMMERCE, founded in 1998, is a small nonprofit that reported $198K in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $183K left a modest 8% surplus.

Mission

TO PRESERVE AND PROMOTE THE VITALITY AND ECONOMIC GROWTH OF THE BUSINESS COMMUNITY IN WATERFORD AND THE SURROUNDING AREAS.

Program Service Accomplishments

Program 1

TO PROMOTE, SUPPORT AND EXPAND THE BUSINESS COMMUNITY OF WATERFORD, MICHIGAN BY UNIFYING ALL SECTORS THROUGH IMPROVED COMMUNICATION. PUBLICATIONS ISSUED ARE MEMBERSHIP DIRECTORIES AND PROMOTIONAL...

TO PROMOTE, SUPPORT AND EXPAND THE BUSINESS COMMUNITY OF WATERFORD, MICHIGAN BY UNIFYING ALL SECTORS THROUGH IMPROVED COMMUNICATION. PUBLICATIONS ISSUED ARE MEMBERSHIP DIRECTORIES AND PROMOTIONAL LITERATURE.

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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 $116,300

Investment Income $78

Other Revenue $81,863

TOTAL REVENUE $198,241

Expense Breakdown

Grants Paid $0

Salaries & Benefits $134,342

Fundraising Expenses $0

Other Expenses $48,474

TOTAL EXPENSES $182,816

Year-over-Year Comparison

	2024	2023	Change
Revenue	$198,241	$178,375	+0.1%
Expenses	$182,816	$170,411	+0.1%
Net Income	$15,425	$7,964	+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

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

$57,179

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NIKKI TIPPETT	EXECUTIVE DI	40.00	Officer	$57,179	$0	$57,179
RACHEL AVILES	DIRECTOR	N/A	Director	$0	$0	$0
SARAH DAVIS	DIRECTOR	N/A	Director	$0	$0	$0
DEBORAH FALZON	DIRECTOR	N/A	Director	$0	$0	$0
JAY GORDINIER	DIRECTOR	N/A	Director	$0	$0	$0
MICHAEL KAZYAK	DIRECTOR	N/A	Director	$0	$0	$0
ROBERT MILNER	SECRETARY	N/A	Director	$0	$0	$0
MIKE MORGAN	DIRECTOR	N/A	Director	$0	$0	$0
TILLIE RAYMOND	DIRECTOR	N/A	Director	$0	$0	$0
KATHY ROBICHAUD	DIRECTOR	N/A	Director	$0	$0	$0
RENEE DOYLE	PAST PRESIDE	N/A	Officer	$0	$0	$0
TIM HARRY	PRESIDENT	N/A	Officer	$0	$0	$0
SHELLY SCHLOSS	VICE PRESIDE	N/A	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	$198,241	$182,816	$532,441	$15,425
2023	$178,375	$170,411	$512,866	$7,964
2022	$162,288	$249,767	$510,412	$-87,479
2021	$188,650	$195,628	$597,944	$-6,978
2020	$271,718	$165,257	$621,192	$106,461
2019	$247,351	$216,650	$506,503	$30,701
2018	$231,953	$203,929	$473,637	$28,024