MUSKEGON LAKESHORE CHAMBER OF COMMERCE FOUNDATION

EIN: 383634571 501(c)(3) Environment

MUSKEGON, MI

Total Revenue
$348,978
Total Expenses
$381,868
Total Assets
$711,895
Net Assets
$360,334
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
MI
Principal Officer
RACHEL GORMAN
Phone
2317223751
Tax Period
2024-01-01 to 2024-12-31

MUSKEGON LAKESHORE CHAMBER OF COMMERCE FOUNDATION, founded in 2001, is a small nonprofit in the Environment sector that reported $349K in total revenue in fiscal year 2024. Revenue decreased 18% compared to the prior year.

Mission

PROMOTE SOCIAL WELFARE, BRING COMMUNITY TOGETHER, PROMOTE COMMUNITY AS A WHOLE AND COMBAT NEIGHBORHOOD DETERIORATION BY CREATING INCENTIVE TO INVEST IN THE COMMUNITY. ALSO, TO SUPPORT EDUCATIONAL PROGRAMS ON COMMUNITY DEVELOPMENT AND THE ROLE ON INDIVIDUALS IN THE DEVELOPMENT OF THEIR COMMUNITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $310,226
Program Service Revenue $37,531
Investment Income $2,411
Other Revenue $-1,190
TOTAL REVENUE $348,978

Expense Breakdown

Grants Paid $228,476
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $381,868
Other Expenses $153,392
TOTAL EXPENSES $381,868

Year-over-Year Comparison

2024 2023 Change
Revenue $348,978 $425,343 -0.2%
Expenses $381,868 $435,524 -0.1%
Net Income $-32,890 $-10,181 +2.2%
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

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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
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
4
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHAWN BUCKNER DIRECTOR 1.00
Director
$0 $0 $0
RACHEL GORMAN DIRECTOR 5.00
Director
$0 $0 $0
AMY HEISSER VICE PRESIDE 1.00
Officer Director
$0 $0 $0
JOEL KAMP TREASURER 1.00
Officer Director
$0 $0 $0
CHRISTOPHER KELLY PRESIDENT 1.00
Officer Director
$0 $0 $0
STEVE OLSEN DIRECTOR 1.00
Director
$0 $0 $0
TOM SCHULTZ DIRECTOR 1.00
Director
$0 $0 $0
JONATHAN WILSON SECRETARY 1.00
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 $348,978 $381,868 $711,895 $-32,890
2023 $425,343 $435,524 $784,547 $-10,181
2023 $425,343 $435,524 $784,547 $-10,181
2023 $425,343 $435,524 $784,547 $-10,181
2022 $179,468 $226,828 $909,300 $-47,360
2021 $303,975 $359,646 $1,066,196 $-55,671
2020 $425,866 $339,728 $1,040,611 $86,138
2019 $320,172 $259,538 $1,020,935 $60,634
2018 $190,446 $217,895 $1,015,826 $-27,449
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