LAKE CITY 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

1957

Legal Domicile

Principal Officer

HEATHER THOMAS

Phone

6513454123

Tax Period

2024-01-01 to 2024-12-31

LAKE CITY CHAMBER OF COMMERCE, founded in 1957, is a small nonprofit that reported $417K in total revenue in fiscal year 2024. Expenses of $357K left a modest 14% surplus.

Mission

To promote Lake City and the Lake City area for business, industry, economic development and tourism.

Program Service Accomplishments

Program 1

Expenses: $357,145

PROMOTION OF THE LAKE CITY AREA. VARIOUS PROMOTIONS FESTIVALS ARE RUN. THE AREA IS PROMOTED FOR TOURISM, RETAIL TRADE, INDUSTRY AND 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 $261,067

Program Service Revenue $0

Investment Income $3,088

Other Revenue $152,573

TOTAL REVENUE $416,728

Expense Breakdown

Grants Paid $0

Salaries & Benefits $105,686

Fundraising Expenses $0

Program Expenses $357,145

Other Expenses $251,459

TOTAL EXPENSES $357,145

Year-over-Year Comparison

	2024	2023	Change
Revenue	$416,728	$427,300	0.0%
Expenses	$357,145	$281,884	+0.3%
Net Income	$59,583	$145,416	-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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NANCY DENZER	PRESIDENT	005.00	Officer Director	$0	$0	$0
HEATHER THOMAS	EXECUTIVE DIRECTOR	040.00	Officer Director	$0	$0	$0
VICKI KRAGE	PAST PRESIDENT	003.00	Officer Director	$0	$0	$0
TREVOR NARUM	PRESIDENT-ELECT	003.00	Officer Director	$0	$0	$0
JOE WHITE	DIRECTOR	002.00	Director	$0	$0	$0
MARSHA DANIELSON	DIRECTOR	002.00	Director	$0	$0	$0
HEIDI WALKER	DIRECTOR	002.00	Director	$0	$0	$0
ANGIE FOSS	DIRECTOR	002.00	Director	$0	$0	$0
DAVE BREITENFIELD	DIRECTOR	002.00	Director	$0	$0	$0
COLTON QUADE	DIRECTOR	002.00	Director	$0	$0	$0
DORIS SCHURHAMMER	DIRECTOR	002.00	Director	$0	$0	$0
WILLIE RAUEN	DIRECTOR	002.00	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
2025	No data	No data	No data	No data
2024	$416,728	$357,145	$608,773	$59,583
2023	$427,300	$281,884	$345,053	$145,416
2022	$252,975	$200,210	$193,575	$52,765
2021	$223,435	$200,922	$148,802	$22,513
2020	$154,150	$158,005	$126,152	$-3,855
2019	$163,460	$186,495	$129,665	$-23,035
2018	$175,744	$188,922	$152,526	$-13,178