VERMILLION AREA CHAMBER OF COMMERCE AND DEVELOPMENT COMPANY (EIN 460284795) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1967

Legal Domicile

Principal Officer

JAMES PETERSON

Phone

6056245571

Tax Period

2024-01-01 to 2024-12-31

VERMILLION CHAMBER & DEVELOPMENT CO, founded in 1967, is a small nonprofit that reported $871K in total revenue in fiscal year 2018. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $1.2M exceeded revenue, resulting in a 40% operating deficit.

Mission

TO PROMOTE AND DEVELOP ECONOMIC GROWTH FOR THE CITY OF VERMILLION, SD.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,231,000

Program Service Revenue $87,811

Investment Income $144,545

Other Revenue $1,505,804

TOTAL REVENUE $2,969,160

Expense Breakdown

Grants Paid $0

Salaries & Benefits $413,602

Fundraising Expenses $256,264

Program Expenses $795,221

Other Expenses $1,734,889

TOTAL EXPENSES $2,148,491

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,969,160	$1,497,971	+1.0%
Expenses	$2,148,491	$1,442,904	+0.5%
Net Income	$820,669	$55,067	+13.9%

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

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
JOE HOOSE	CHAIR	2.00	Officer Director	$0	$0	$0
ANDY SCHULZ	VICE CHAIR	2.00	Officer Director	$0	$0	$0
DUSTIN SOCKNESS	TREASURER	2.00	Officer Director	$0	$0	$0
KATEY ULRICH	SECRETARY	2.00	Officer Director	$0	$0	$0
VERONICA SCHMIDT	DIRECTOR	1.00	Director	$0	$0	$0
GREGG PETERS	DIRECTOR	1.00	Director	$0	$0	$0
JOHN PRESCOTT	DIRECTOR	1.00	Director	$0	$0	$0
DAMON ALVEY	DIRECTOR	1.00	Director	$0	$0	$0
JON COLE	DIRECTOR	1.00	Director	$0	$0	$0
JESSI HANSON	DIRECTOR	1.00	Director	$0	$0	$0
BEKKI ENGQUIST-SCHROEDER	DIRECTOR	1.00	Director	$0	$0	$0
JIM WATERS	DIRECTOR	1.00	Director	$0	$0	$0
MATT BURBACH	DIRECTOR	1.00	Director	$0	$0	$0
JAMES PETERSON	CEO	40.00	Officer	$0	$0	$0
TRAVIS MOCKLER	DIRECTOR	N/A	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
2024	$2,969,160	$2,148,491	$16,605,461	$820,669
2023	$1,497,971	$1,442,904	$14,802,392	$55,067
2022	$1,541,408	$1,563,880	$14,713,071	$-22,472
2021	$1,278,713	$1,664,667	$13,347,571	$-385,954
2020	$1,741,973	$1,455,628	$12,271,490	$286,345
2019	$997,961	$1,611,136	$11,414,880	$-613,175
2018	$871,187	$1,217,475	$9,505,871	$-346,288

VERMILLION AREA CHAMBER OF COMMERCE AND DEVELOPMENT COMPANY