CHEROKEE CHAMBER OF COMMERCE

EIN: 420178820

CHEROKEE, IA

Total Revenue
$83,786
Total Expenses
$110,078
Total Assets
$199,203
Net Assets
$196,852
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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
1923
Legal Domicile
IA
Principal Officer
TIMOTHY HOFFMAN
Phone
7122256414
Tax Period
2023-01-01 to 2023-12-31

CHEROKEE CHAMBER OF COMMERCE, founded in 1923, is a micro nonprofit that reported $84K in total revenue in fiscal year 2023. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $110K exceeded revenue, resulting in a 31% operating deficit.

Mission

PROMOTE POSITIVE GROWTH FOR THE ENHANCEMENT OF THE COMMUNITY

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,207
Program Service Revenue $80,237
Investment Income $3,597
Other Revenue $-5,255
TOTAL REVENUE $83,786

Expense Breakdown

Grants Paid $0
Salaries & Benefits $72,687
Fundraising Expenses $0
Other Expenses $37,391
TOTAL EXPENSES $110,078

Year-over-Year Comparison

2023 2022 Change
Revenue $83,786 $110,640 -0.2%
Expenses $110,078 $195,387 -0.4%
Net Income $-26,292 $-84,747 -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

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Governance

Voting Members
12
Independent Members
12
Employees
1
Volunteers
150

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
1
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TIMOTHY HOFFMAN PRESIDENT N/A
Officer
$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 $83,786 $110,078 $199,203 $-26,292
2022 $110,640 $195,387 $225,122 $-84,747
2021 $97,958 $58,982 $309,113 $38,976
2020 $66,950 $60,749 $267,750 $6,201
2019 $86,384 $70,072 $264,647 $16,312
2018 $96,015 $72,104 $248,651 $23,911
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