Sturgis 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

1946

Legal Domicile

Principal Officer

Veronica Grosek

Phone

6053472556

Tax Period

2024-01-01 to 2024-12-31

Sturgis Chamber of Commerce, founded in 1946, is a small nonprofit that reported $285K in total revenue in fiscal year 2024. Expenses of $268K left a modest 6% surplus.

Mission

Promote Tourism and Civic Process

Program Service Accomplishments

Program 1

Expenses: $267,525

Promote Tourism; Sponsor and Promote Local Events and Orginizations which Benefit Civic, Commercial & Industrial Process of the Community. Business Promotions, Community Pride, Ag Appreciaiton...

Promote Tourism; Sponsor and Promote Local Events and Orginizations which Benefit Civic, Commercial & Industrial Process of the Community. Business Promotions, Community Pride, Ag Appreciaiton Committe for example. Newsletter are emailed to members to keep them informed and community events and items of interest in 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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $212,449

Program Service Revenue $71,859

Investment Income $956

Other Revenue $0

TOTAL REVENUE $285,264

Expense Breakdown

Grants Paid $0

Salaries & Benefits $134,628

Fundraising Expenses $0

Program Expenses $267,525

Other Expenses $131,158

TOTAL EXPENSES $267,525

Year-over-Year Comparison

	2024	2023	Change
Revenue	$285,264	$285,839	0.0%
Expenses	$267,525	$297,011	-0.1%
Net Income	$17,739	$-11,172	-2.6%

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

$74,308

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Veronica Grosek	Excutive Director	40.00	Officer	$74,308	$0	$74,308
Jessie Dufner	Vice President	1.00	Director	$0	$0	$0
Jimmy Seward	Treasurer	1.00	Director	$0	$0	$0
Travis Bartels	Immediate Past President	1.00	Director	$0	$0	$0
Richelle Bruch	Director	1.00	Director	$0	$0	$0
Pedro Duarte	Director	1.00	Director	$0	$0	$0
Donovin Lindsley	Director	1.00	Director	$0	$0	$0
Cole Staigle	Director	1.00	Director	$0	$0	$0
Dustin White	Director	1.00	Director	$0	$0	$0
Rose Byars	Prsident	1.00	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	$285,264	$267,525	$415,118	$17,739
2023	$285,839	$297,011	$289,858	$-11,172
2022	$256,538	$245,467	$300,809	$11,071
2021	$270,581	$226,463	$290,534	$44,118
2020	$188,398	$175,395	$245,442	$13,003
2019	$245,867	$192,232	$232,288	$53,635
2018	$192,265	$134,508	$224,394	$57,757