Armada Area 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

2013

Legal Domicile

Principal Officer

Carolyn Sweeney

Phone

5867848873

Tax Period

2024-01-01 to 2024-12-31

Armada Area Chamber of Commerce, founded in 2013, is a micro nonprofit in the Community Improvement sector that reported $7K in total revenue in fiscal year 2024.

Mission

The mission of the Armada Area Chamber of Commerce is to provide leadership that supports the existing business community while promoting favorable economic growth.

Program Service Accomplishments

Program 1

Revenue: $2,550

Ice Breaker Street Fair, a winter carnival held downtown to promote sales in local businesses

Program 2

Expenses: $3,764 Revenue: $2,770

Armada-Geddon, a Halloween Street Fair, with entertainment and a parade, to promote sales in local businesses

Program 3

Expenses: $200 Revenue: $200

Easter Egg Hunt. All the member businesses sponsored candy and toy-filled eggs to promote shopping in the downtown.

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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 $7,036

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $7,036

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,964

Other Expenses $7,720

TOTAL EXPENSES $7,720

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,036	N/A	N/A
Expenses	$7,720	N/A	N/A
Net Income	$-684	$0	N/A

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Emily Sawitzky	Director	0	Director	$0	$0	$0
Katherine Bowen	President Elect	0	Director	$0	$0	$0
Samantha Boelke	Director	0	Director	$0	$0	$0
Carolyn Sweeney	Treasurer	10	Officer	$0	$0	$0
Matthew Beeman	President	10	Officer	$0	$0	$0
Renee Grenaco	Secretary	1	Officer	$0	$0	$0
Kevin Grand	Director	1	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	$7,036	$7,720	$2,229	$-684