FUSEDSM

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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

1980

Legal Domicile

Principal Officer

TOM WELCHANS

Phone

5158294189

Tax Period

2023-01-01 to 2023-12-31

FUSEDSM, founded in 1980, is a small nonprofit that reported $321K in total revenue in fiscal year 2023. Revenue surged 57% from the prior year, signaling strong growth momentum. Expenses of $310K left a modest 3% surplus.

Mission

THE CHAMBER PROMOTES BUSINESS AND ECONOMIC DEVELOPMENT ON THE SOUTH, EAST, AND NORTH SIDES OF DES MOINES, IOWA.

Program Service Accomplishments

Program 1

THE CHAMBER PROMOTES BUSINESS AND ECONOMIC DEVELOPMENT ON THE SOUTH, EAST, AND NORTH SIDES OF DES MOINES, IOWA. THE ORGANIZATION HOLDS MEETINGS AND ACTIVITIES TO PROMOTE WORKING RELATIONSHIPS WITHIN THE MEBERSHIP AS WELL AS PROVIDING INFORMATION RELEVANT TO THE SOUTH, EAST, AND NORTH SIDE COMMUNITIES IN DES MOINES, IOWA. ALL MEMBER LABOR IS DONATED.

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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 $162,311

Program Service Revenue $100,543

Investment Income $10

Other Revenue $58,353

TOTAL REVENUE $321,217

Expense Breakdown

Grants Paid $0

Salaries & Benefits $189,778

Fundraising Expenses $0

Other Expenses $120,641

TOTAL EXPENSES $310,419

Year-over-Year Comparison

	2023	2022	Change
Revenue	$321,217	$204,399	+0.6%
Expenses	$310,419	$245,499	+0.3%
Net Income	$10,798	$-41,100	-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

Volunteers

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

$98,468

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL WILLRICH	CHAIRMAN OF THE BOARD	1.00	Officer Director	$0	$0	$0
MICHAEL BIRD	VICE CHAIR	1.00	Officer Director	$0	$0	$0
TROY DUBBERKE	2ND VICE CHAIR	1.00	Officer Director	$0	$0	$0
LAURA CLARK-GIBSON	SECRETARY	1.00	Officer Director	$0	$0	$0
TOM WELCHANS	TREASURER	1.00	Officer Director	$0	$0	$0
CAROLYN JENISON	PAST CHAIR	1.00	Officer Director	$0	$0	$0
FERNANDO AVEIGA	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES WALFORD	BOARD MEMBER	1.00	Director	$0	$0	$0
DANNY BEYER	BOARD MEMBER	1.00	Director	$0	$0	$0
PAM THOMPSON	BOARD MEMBER	1.00	Director	$0	$0	$0
BILL RAINE	BOARD MEMBER	1.00	Director	$0	$0	$0
MEGAN BAAKE	BOARD MEMBER	1.00	Director	$0	$0	$0
SHALLEE KEENAN	BOARD MEMBER	1.00	Director	$0	$0	$0
GINA VITIRITTO	BOARD MEMBER	1.00	Director	$0	$0	$0
DONNA MILLER	BOARD MEMBER	1.00	Director	$0	$0	$0
RACHEL SUMMERS	BOARD MEMBER	1.00	Director	$0	$0	$0
DWANA BRADLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
TRISH FLAHERTY-BARNES	PRESIDENT/CEO	40.00	Officer	$89,534	$8,934	$98,468

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	$321,217	$310,419	$23,962	$10,798
2022	$204,399	$245,499	$33,775	$-41,100
2020	$150,844	$164,584	$42,511	$-13,740
2018	$177,013	$189,741	$95,320	$-12,728