CHISAGO LAKES AREA CHAMBER OF COMMERCE (EIN 411754823) - Form 990 Financial Analysis & Trantor Score

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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

1977

Legal Domicile

Principal Officer

SARAH SODERLIND

Phone

6512571177

Tax Period

2023-01-01 to 2023-12-31

CHISAGO LAKES AREA CHAMBER OF COMMERCE, founded in 1977, is a small nonprofit that reported $121K in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. Expenses of $150K exceeded revenue, resulting in a 23% operating deficit.

Mission

EDUCATIONAL INFORMATION AND OUTREACH THROUGH CONTACTS WITH AREA BUSINESS AND VISITORS THAT PROMOTE OUR COMMUNITY BUSINESSES & TOURISM

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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 $81,665

Program Service Revenue $6,918

Investment Income $0

Other Revenue $32,814

TOTAL REVENUE $121,397

Expense Breakdown

Grants Paid $0

Salaries & Benefits $122,576

Fundraising Expenses $0

Other Expenses $27,223

TOTAL EXPENSES $149,799

Year-over-Year Comparison

	2023	2022	Change
Revenue	$121,397	$131,386	-0.1%
Expenses	$149,799	$130,321	+0.1%
Net Income	$-28,402	$1,065	-27.7%

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

300

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
JEFF BOUCHEE	PRESIDENT	2.00	Director	$0	$0	$0
DIANE DEROSIER	VICE PRESIDENT	2.00	Director	$0	$0	$0
MARLYS DUNNE	TREASURER	2.00	Director	$0	$0	$0
JANA LENSING	BOARD MEMBER	2.00	Director	$0	$0	$0
BRENDA CARLSON	BOARD MEMBER	2.00	Director	$0	$0	$0
MISSY GLENNA	BOARD MEMBER	2.00	Director	$0	$0	$0
MICHELLE KLEIST	SECRETARY	2.00	Director	$0	$0	$0
JOSH WAGNER	BOARD MEMBER	2.00	Director	$0	$0	$0
LORRAINE SKORDAHL	BOARD MEMBER	2.00	Director	$0	$0	$0
LISA LOSO	BOARD MEMBER	2.00	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	$121,397	$149,799	$52,770	$-28,402
2022	$131,386	$130,321	$53,492	$1,065
2021	$100,648	$104,140	$50,680	$-3,492
2020	$88,531	$80,430	$55,842	$8,101
2019	$66,169	$100,292	$35,698	$-34,123
2018	$94,774	$90,760	$70,295	$4,014

CHISAGO LAKES AREA CHAMBER OF COMMERCE