ALGOMA 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

1946

Legal Domicile

Phone

9204872041

Tax Period

2024-01-01 to 2024-12-31

ALGOMA AREA CHAMBER OF COMMERCE, founded in 1946, is a small nonprofit that reported $122K in total revenue in fiscal year 2024. Expenses of $139K exceeded revenue, resulting in a 14% operating deficit.

Mission

TO PROMOTE BUSINESS PROSPERITY, TOURISM, AND COMMUNITY INVOLVEMENT BY PROVIDING INFORMATION, SERVICES AND ADVOCACY FOR THE ALGOMA COMMUNITY AND OUR MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $131,335

THE ORGANIZATION OPERATES THE ALGOMA VISITOR CENTER YEAR ROUND WHICH PROVIDES LITERATURE, WEBSITE, TELEPHONE INFORMATION, ON-SITE INFORMATION AND TRADE SHOW REPRESENTATION REGARDING ALGOMA.

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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 $33,094

Program Service Revenue $72,033

Investment Income $2,964

Other Revenue $13,599

TOTAL REVENUE $121,690

Expense Breakdown

Grants Paid $0

Salaries & Benefits $98,705

Fundraising Expenses $7,517

Program Expenses $131,335

Other Expenses $40,147

TOTAL EXPENSES $138,852

Year-over-Year Comparison

	2024	2023	Change
Revenue	$121,690	N/A	N/A
Expenses	$138,852	N/A	N/A
Net Income	$-17,162	N/A	N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
JESSICA ALDAMA	DIRECTOR	Director	$0	$0	$0
LAURA LEE LOTTO	DIRECTOR	Director	$0	$0	$0
KIMBERLY LYON	DIRECTOR	Director	$0	$0	$0
CHET KIEDROWSKI	DIRECTOR	Director	$0	$0	$0
ALEX VANLANEN	DIRECTOR	Director	$0	$0	$0
MATTEW DUESCHER	DIRECTOR	Director	$0	$0	$0
JENNIFER HIGHLAND	PRESIDENT	Officer	$0	$0	$0
MARK KUNKEL	VICE PRESIDENT	Officer	$0	$0	$0
JENNIFER MASSEY	SECRETARY	Officer	$0	$0	$0
GAIL RUECKL	TREASURER	Officer	$0	$0	$0
BRADLEY KAUTENBURG	EXECUTIVE DIRECTOR	Highest	$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	$121,690	$138,852	$282,513	$-17,162
2023	$118,667	$137,319	$290,949	$-18,652
2021	$137,614	$98,061	$266,527	$39,553