WHITE BEAR 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

1953

Legal Domicile

Principal Officer

KARI MOORE

Phone

6514298593

Tax Period

2024-01-01 to 2024-12-31

WHITE BEAR AREA CHAMBER OF COMMERCE, founded in 1953, is a small nonprofit that reported $231K in total revenue in fiscal year 2024.

Mission

OUR MISSION IS TO STRENGTHEN BUSINESS THROUGH ADVOCACY, NETWORKING, AND EDUCATION.

Program Service Accomplishments

Program 1

WHITE BEAR AREA CHAMBER OF COMMERCE PROMOTES THE BUSINESS DEVELOPMENT OF ITS SERVICE AREA AND IMPROVES THE QUALITY OF THE COMMUNITIES IT SERVES BY PLANNING AND HOSTING ACTIVITIES FOR THE PURPOSE OF FURTHERING MEMBERS BUSINESS CONTACTS AND/OR COMMUNITY DEVELOPMENT. WE HAVE BEEN PROMOTING A WASTE WISE PROGRAM TO HELP WITH RECYCLING, REUSING, AND REDUCING WASTE IN BUSINESSES LEADING TO POTENTIAL COST SAVING OPPORTUNITIES. OTHER ACTIVITIES AND EVENTS DURING 2024: AN INAUGURAL BANQUET WITH A BUSINESS AWARDS PROGRAM, ANNUAL GOLF TOURNAMENT, A FALL/WINTER GALA NETWORKING/FUNDRAISING EVENT, VIRTUAL AND IN-PERSON INFORMATIONAL LUNCHEON MEETINGS, AND VARIOUS OTHER NETWORKING GATHERINGS.

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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 $17,265

Program Service Revenue $212,789

Investment Income $1,399

Other Revenue $0

TOTAL REVENUE $231,453

Expense Breakdown

Grants Paid $3,400

Salaries & Benefits $160,221

Fundraising Expenses $0

Other Expenses $70,653

TOTAL EXPENSES $234,274

Year-over-Year Comparison

	2024	2023	Change
Revenue	$231,453	$242,719	0.0%
Expenses	$234,274	$235,539	0.0%
Net Income	$-2,821	$7,180	-1.4%

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

$86,128

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PETER FRANK	CHAIR	1.00	Officer Director	$0	$0	$0
CARRIE KWAPICK-NASVIK	PAST CHAIR	1.00	Officer Director	$0	$0	$0
ADAM HENNEN	TREASURER	1.00	Officer Director	$0	$0	$0
TRACY SHIMEK	CORPORATE SECRETARY	1.00	Officer Director	$0	$0	$0
JEFFRY BORGLUM	CHAIR ELECT	1.00	Officer Director	$0	$0	$0
MARK HOUGE	DIRECTOR	0.50	Director	$0	$0	$0
KATY OLSON	DIRECTOR	0.50	Director	$0	$0	$0
JOURNIE ROSENOW	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL WILHELMI	DIRECTOR	0.50	Director	$0	$0	$0
GRACE MELEK	DIRECTOR	0.50	Director	$0	$0	$0
DUSTIN CARLSON	DIRECTOR	0.50	Director	$0	$0	$0
NORA SLAWIK	DIRECTOR	0.50	Director	$0	$0	$0
RICHARD HEROD III	DIRECTOR	0.50	Director	$0	$0	$0
KAREN HERRERA	DIRECTOR	0.50	Director	$0	$0	$0
KARI MOORE	EXECUTIVE DIRECTOR (AS OF APRIL 2024)	40.00	Officer	$52,583	$488	$53,071
SHARI WILSON	EXECUTIVE DIRECTOR (THROUGH MARCH 2024)	1.00	Officer	$32,313	$744	$33,057

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	$231,453	$234,274	$257,708	$-2,821
2023	$242,719	$235,539	$245,337	$7,180
2022	$227,715	$210,088	$227,360	$17,627
2021	$240,832	$194,452	$215,058	$46,380
2020	$242,386	$211,201	$170,075	$31,185
2019	$272,905	$266,811	$158,512	$6,094
2018	$266,819	$258,139	$143,642	$8,680