PRIOR LAKE 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

1970

Legal Domicile

Principal Officer

CHERYL LEITSCHUH

Phone

9524401000

Tax Period

2023-01-01 to 2023-12-31

PRIOR LAKE CHAMBER OF COMMERCE, founded in 1970, is a small nonprofit that reported $312K in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $302K left a modest 3% surplus.

Mission

PROMOTION OF THE PRIOR LAKE AREA.

Program Service Accomplishments

Program 1

MONTHLY NEWSLETTER, MEMBERSHIP LUNCHEON, AND NETWORKING MEETINGS TO INFORM MEMBERS IN AREAS OF INTEREST AND CURRENT EVENTS.

Program 2

SPONSORSHIP OF PRIOR LAKE CHAMBERFEST AND OTHER CIVIC EVENTS IN SUPPORT OF THE CITY, ITS CITIZENS, AND BUSINESSES.

Program 3

PROVIDING INFORMATION ABOUT THE CITY, ITS SCHOOLS, LOCAL BUSINESSES, AND OTHER AREAS OF INTEREST TO NEW CITIZENS AND VISITORS.

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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 $112,924

Program Service Revenue $194,035

Investment Income $4,767

Other Revenue $0

TOTAL REVENUE $311,726

Expense Breakdown

Grants Paid $1,000

Salaries & Benefits $133,571

Fundraising Expenses $0

Other Expenses $167,428

TOTAL EXPENSES $301,999

Year-over-Year Comparison

	2023	2022	Change
Revenue	$311,726	$287,288	+0.1%
Expenses	$301,999	$257,988	+0.2%
Net Income	$9,727	$29,300	-0.7%

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

250

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
KRISTI MUSSMAN	SCHOOL LIAISON	2.00	Director	$0	$0	$0
DARAN ADAIR	SECRETARY	2.00	Officer Director	$0	$0	$0
DUSTY BROWN	TREASURER	2.00	Officer Director	$0	$0	$0
JASON WEDEL	CITY LIAISON	2.00	Director	$0	$0	$0
RC COLVIN	PAST CHAIR	2.00	Officer Director	$0	$0	$0
JENNIFER HILTUNEN	CHAIR	2.00	Officer Director	$0	$0	$0
DANIEL STANLEY	DIRECTOR	2.00	Director	$0	$0	$0
NIKKI ERICKSON	VICE CHAIR	2.00	Officer Director	$0	$0	$0
CHERYL LEITSCHUH	DIRECTOR	2.00	Director	$0	$0	$0
KATHIE BOE	DIRECTOR	2.00	Director	$0	$0	$0
ANDREW BRUDEVOLD	DIRECTOR	2.00	Director	$0	$0	$0
KIMBERLY CHURCHILL	DIRECTOR	2.00	Director	$0	$0	$0
KATRINA POST	DIRECTOR	2.00	Director	$0	$0	$0
KATHY YOUNG	DIRECTOR	2.00	Director	$0	$0	$0
LORI ANDERSON	DIRECTOR	2.00	Director	$0	$0	$0
JUSTINA ALLEN-YANCEY	DIRECTOR	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	$311,726	$301,999	$305,801	$9,727
2022	$287,288	$257,988	$296,074	$29,300
2021	$252,232	$215,970	$266,774	$36,262
2020	$215,367	$208,285	$230,512	$7,082
2019	$272,062	$261,089	$223,430	$10,973
2018	$279,588	$277,583	$212,458	$2,005