HAM LAKE CHAMBER OF COMMERCE (EIN 411646487) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

Tim Sofie

Phone

7634343011

Tax Period

2023-01-01 to 2023-12-31

HAM LAKE CHAMBER OF COMMERCE is a tax-exempt nonprofit with EIN 411646487, based in HAM LAKE, MN. Founded in 1982, the organization files IRS Form 990 and reported its most recent data for fiscal year 2023. In that period, it reported $39,972 in total revenue and $73,741 in total expenses, with net assets of $204,493.

Mission

The Ham Lake Chamber of Commerce is an organization representing businesses in Ham Lake and the surrounding communities. Since 1982, the Chamber has been dedicated to supporting business advancement, economic development, and community growth in northern Anoka County.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $33,247

Program Service Revenue $39,456

Investment Income $1,353

Other Revenue $-34,084

TOTAL REVENUE $39,972

Expense Breakdown

Grants Paid $0

Salaries & Benefits $36,835

Fundraising Expenses $0

Program Expenses $43,786

Other Expenses $36,906

TOTAL EXPENSES $73,741

Year-over-Year Comparison

	2023	2022	Change
Revenue	$39,972	$45,269	-0.1%
Expenses	$73,741	$57,088	+0.3%
Net Income	$-33,769	$-11,819	+1.9%

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
Tim Sofie	Chair	3.00	Officer Director	$0	$0	$0
Tyler Messerole	Director	1.00	Director	$0	$0	$0
Nancy Braastad	Secretary/Treasurer	1.50	Officer Director	$0	$0	$0
Theresa DeGeest	Vice-Chair	1.50	Officer Director	$0	$0	$0
William Israelson	Director	1.00	Director	$0	$0	$0
Danielle Hedberg	Director	1.00	Director	$0	$0	$0
Kim Brown Goodwin	Director	1.00	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
2024	No data	No data	No data	No data
2023	$39,972	$73,741	$211,322	$-33,769
2022	$45,269	$57,088	$245,138	$-11,819
2021	$149,785	$50,895	$289,654	$98,890
2020	$68,580	$36,115	$151,191	$32,465
2019	$1,489	$29,826	$124,277	$-28,337
2018	$48,271	$28,916	$156,251	$19,355

HAM LAKE CHAMBER OF COMMERCE