MINNESOTA HMONG 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

1998

Legal Domicile

Principal Officer

YAO YAJ

Phone

6516456777

Tax Period

2023-01-01 to 2023-12-31

MINNESOTA HMONG CHAMBER OF COMMERCE, founded in 1998, is a small nonprofit in the Community Improvement sector that reported $297K in total revenue in fiscal year 2023. Revenue surged 179% from the prior year, signaling strong growth momentum.

Mission

OUR MISSION IS TO GROW AND SUSTAIN BUSINESSES THROUGH ENGAGEMENT, COLLABORATION, AND ADVOCACY.

Program Service Accomplishments

Program 1

WE PROMOTE OUR MEMBER BUSINESSES. WE PROVIDE NETWORKING AND PARTNERSHIP OPPORTUNITIES. WE ADVOCATE FOR OUR MEMBERS AND FOR OUR BUSINESS REGION. WE SEEK TO BUILD PROGRAMS AND EVENTS TO GROW BUSINESS...

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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 $58,550

Program Service Revenue $240,202

Investment Income $0

Other Revenue $-1,991

TOTAL REVENUE $296,761

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $302,110

TOTAL EXPENSES $302,110

Year-over-Year Comparison

	2023	2022	Change
Revenue	$296,761	$106,441	+1.8%
Expenses	$302,110	$90,418	+2.3%
Net Income	$-5,349	$16,023	-1.3%

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

N/A

Volunteers

N/A

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
YAO YAJ	EXECUTIVE DI	40.00	Officer	$0	$0	$0
TONG KHANG	BOARD CHAIR	5.00	Officer Director	$0	$0	$0
MIKE HANG	VICE CHAIR	5.00	Officer Director	$0	$0	$0
MICAH LARSON	TREASURER	5.00	Officer Director	$0	$0	$0
B KYLE	BOARD MEMBER	1.00	Director	$0	$0	$0
NANCY CHA	BOARD MEMBER	1.00	Director	$0	$0	$0
JEFF HABLE	BOARD MEMBER	1.00	Director	$0	$0	$0
TOU FANG	BOARD MEMBER	1.00	Director	$0	$0	$0
TERRY XIONG	BOARD MEMBER	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
2023	$296,761	$302,110	$64,503	$-5,349