VERMILLION AREA CHAMBER OF COMMERC… - Form 990 Financial Data

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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

1967

Legal Domicile

Principal Officer

JAMES PETERSON

Phone

6056245571

Tax Period

2025-01-01 to 2025-12-31

VERMILLION AREA CHAMBER OF COMMERCE AND DEVELOPMENT COMPANY, founded in 1967, is a community nonprofit that reported $2.3M in total revenue in fiscal year 2025. Revenue fell 23% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $554K, a strong 24% operating margin.

Mission

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

Program Service Accomplishments

Program 1

Expenses: $635,808 Revenue: $55,876

WORK TOWARDS THE ORGANIZATIONS COMMUNITY BETTERMENT AND ECONOMIC DEVELOPMENT GOALS OF SUSTAINABLE BUSINESS DEVELOPMENT AND GREATER COMMUNITY AWARENESS THROUGH ITS PROGRAMS AND ECONOMIC DEVELOPMENT...

WORK TOWARDS THE ORGANIZATIONS COMMUNITY BETTERMENT AND ECONOMIC DEVELOPMENT GOALS OF SUSTAINABLE BUSINESS DEVELOPMENT AND GREATER COMMUNITY AWARENESS THROUGH ITS PROGRAMS AND ECONOMIC DEVELOPMENT INITIATIVES.

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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 (2025)

Revenue Breakdown

Contributions & Grants $947,234

Program Service Revenue $55,876

Investment Income $156,263

Other Revenue $1,136,790

TOTAL REVENUE $2,296,163

Expense Breakdown

Grants Paid $0

Salaries & Benefits $435,827

Fundraising Expenses $153,958

Program Expenses $635,808

Other Expenses $1,306,048

TOTAL EXPENSES $1,741,875

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,296,163	$2,969,160	-0.2%
Expenses	$1,741,875	$2,148,491	-0.2%
Net Income	$554,288	$820,669	-0.3%

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

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

$152,006

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
KATEY ULRICH	SECRETARY	2.00	Officer Director	$0	$0	$0
VERONICA SCHMIDT	DIRECTOR	1.00	Director	$0	$0	$0
DUSTIN SOCKNESS	TREASURER	2.00	Officer Director	$0	$0	$0
JIM WATERS	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
JON COLE	DIRECTOR	1.00	Director	$0	$0	$0
DAMON ALVEY	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
TRAVIS MOCKLER	DIRECTOR	1.00	Director	$0	$0	$0
MATT BURBACH	DIRECTOR	1.00	Director	$0	$0	$0
JAMES PETERSON	CEO	40.00	Officer	$145,506	$6,500	$152,006

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
2025	$2,296,163	$1,741,875	$16,623,400	$554,288
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