ATLANTIC 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

1941

Legal Domicile

Principal Officer

BAILEY SMITH

Phone

7122433017

Tax Period

2023-01-01 to 2023-12-31

ATLANTIC CHAMBER OF COMMERCE, founded in 1941, is a small nonprofit that reported $227K in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year.

Mission

TO PROMOTE BUSINESSES AND BOLSTER ACTIVITY WITHIN ATLANTIC, IOWA.

Program Service Accomplishments

Program 1

Expenses: $17,016

THE ATLANTIC AREA CHAMBER OF COMMERCE HELD APPOXIMATELY 20 EVENTS AND PROGRAMS TO PROMOTE BUSINESSES AND BOLSTER ACTIVITY WITHIN THE COMMUNITY. ITS LARGEST EVENT WAS ATLANTICFEST.

Program 2

Expenses: $11,501

THE ATLANTIC AREA CHAMBER OF COMMERCE HELD APPROXIMATELY 20 EVENTS AND PROGRAMS TO PROMOTE BUSINESSES AND BOLSTER ACTIVITY WITHIN THE COMMUNITY. ITS SECOND LARGEST EVENT WAS CHRISTMAS IN ATLANTIC.

Program 3

Expenses: $10,720

THE ATLANTIC AREA CHAMBER OF COMMERCE HELD APPROXIMATELY 20 EVENTS AND PROGRAMS TO PROMOTE BUSINESSES AND BOLSTER ACTIVITY WITH THE COMMUNITY. ITS THIRD LARGEST EVENT WAS THE SHOP LOCAL EVENT.

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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 $142,442

Program Service Revenue $78,352

Investment Income $1

Other Revenue $6,276

TOTAL REVENUE $227,071

Expense Breakdown

Grants Paid $0

Salaries & Benefits $116,265

Fundraising Expenses $0

Program Expenses $83,401

Other Expenses $130,932

TOTAL EXPENSES $247,197

Year-over-Year Comparison

	2023	2022	Change
Revenue	$227,071	$248,537	-0.1%
Expenses	$247,197	$273,168	-0.1%
Net Income	$-20,126	$-24,631	-0.2%

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

600

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
BRIAN RUGE	PRESIDENT	1.00	Officer	$0	$0	$0
CASSIE BERENS	VICE PRESIDENT	1.00	Officer	$0	$0	$0
KENT HANSON	PAST PRESIDENT	1.00	Officer	$0	$0	$0
AMANDA HANSEN	2ND VICE PRESIDENT	1.00	Officer	$0	$0	$0
TIM CAPPEL	TREASURER	1.00	Officer	$0	$0	$0
RANDY WATTS	DIRECTOR	0.50	Director	$0	$0	$0
GRAYDON SCHMIDT	DIRECTOR	0.50	Director	$0	$0	$0
KOLTON HEWLETT	DIRECTOR	0.50	Director	$0	$0	$0
AMANDA GUDE	DIRECTOR	0.50	Director	$0	$0	$0
ANNE QUIST	DIRECTOR	0.50	Director	$0	$0	$0
MELISSA IHNEN	DIRECTOR	0.50	Director	$0	$0	$0
JON JOHNSON	DIRECTOR	0.50	Director	$0	$0	$0
BAILEY SMITH	EXECUTIVE DIRECTOR	40.00	Highest	$52,863	$0	$52,863

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	$227,071	$247,197	$24,956	$-20,126
2022	$248,537	$273,168	$44,895	$-24,631
2021	$242,178	$234,316	$69,418	$7,862
2020	$249,178	$258,084	$61,555	$-8,906