GRANITE FALLS AREA CHAMBER OF COMM… - Form 990 Financial Data

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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

1968

Legal Domicile

Principal Officer

CAROLYN LINDQUIST

Phone

3203213202

Tax Period

2023-01-01 to 2023-12-31

GRANITE FALLS AREA CHAMBER OF COMMERCE, founded in 1968, is a small nonprofit in the Community Improvement sector that reported $154K in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $77K, a strong 50% operating margin.

Mission

TO CREATE A BUSINESS ENVIRONMENT THAT ENCOURAGES GROWTH, VISABILITY AND SUSTAINABILITY WITHIN OUR COMMUNITY AND SUROUNDING AREA.

Program Service Accomplishments

Program 1

PROMOTE ECONOMIC DEVELOPMENT AND PUBLIC RELATIONS FOR THE BUSINESS COMMUNITY OF GRANITE FALLS.

Program 2

PROMOTE GRANITE FALLS FOR TOURISM IN ORDER TO BENEFIT THE BUSINESS 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $47,189

Program Service Revenue $0

Investment Income $370

Other Revenue $106,671

TOTAL REVENUE $154,230

Expense Breakdown

Grants Paid $0

Salaries & Benefits $24,999

Fundraising Expenses $0

Other Expenses $51,993

TOTAL EXPENSES $76,992

Year-over-Year Comparison

	2023	2022	Change
Revenue	$154,230	$138,032	+0.1%
Expenses	$76,992	$65,143	+0.2%
Net Income	$77,238	$72,889	+0.1%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALICIA BECK	TREASURER	N/A	Officer	$0	$0	$0
SAMANTHA GODFREY	DIRECTOR	N/A	Officer	$0	$0	$0
JENNIFER GARCIA GRAY	DIRECTOR	N/A	Officer	$0	$0	$0
KELLY KRUGER	DIRECTOR	N/A	Officer	$0	$0	$0
CAROLYN LINDQUIST	PRESIDENT	N/A	Officer	$0	$0	$0
CYNTHIA MILLER	TREASURER	N/A	Officer	$0	$0	$0
PAM ROSENAU	SECRETARY	N/A	Officer	$0	$0	$0
KEVIN TEBEEST	DIRECTOR	N/A	Officer	$0	$0	$0
BONNIE VIK	EXECURIVE DI	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
2024	No data	No data	No data	No data
2023	$154,230	$76,992	$437,483	$77,238
2022	$138,032	$65,143	$405,703	$72,889
2021	$104,205	$42,029	$278,966	$62,176
2019	$65,567	$48,992	$200,673	$16,575
2018	$78,464	$69,164	$177,698	$9,300

GRANITE FALLS AREA CHAMBER OF COMMERCE