DELAWARE STATE CHAMBER OF COMMERCE INC

EIN: 510007780

WILMINGTON, DE

Total Revenue
$1,945,026
Total Expenses
$2,146,439
Total Assets
$2,857,374
Net Assets
$1,532,113
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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
1915
Legal Domicile
DE
Principal Officer
MICHAEL J QUARANTA
Phone
3026557221
Tax Period
2024-01-01 to 2024-12-31

DELAWARE STATE CHAMBER OF COMMERCE INC, founded in 1915, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2024. Expenses of $2.1M exceeded revenue, resulting in a 10% operating deficit.

Mission

TO IMPROVE BUSINESS RELATIONS IN DELAWARE

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,827,212
Investment Income $0
Other Revenue $117,814
TOTAL REVENUE $1,945,026

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,232,119
Fundraising Expenses $0
Program Expenses $1,684,486
Other Expenses $914,320
TOTAL EXPENSES $2,146,439

Year-over-Year Comparison

2024 2023 Change
Revenue $1,945,026 $1,856,295 +0.0%
Expenses $2,146,439 $1,841,232 +0.2%
Net Income $-201,413 $15,063 -14.4%
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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Governance

Voting Members
15
Independent Members
15
Employees
13
Volunteers
8

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
2
$0
Total Directors
15
$0
Key Employees
1
$284,134
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CATHERINE M BASSETT MEMBER 0.25
Director
$0 $0 $0
STEVE CHAMBLISS MEMBER 0.25
Director
$0 $0 $0
JASON D GONZALEZ MEMBER 0.25
Director
$0 $0 $0
JOHN C GOODEN VICE CHAIR 0.50
Officer Director
$0 $0 $0
MARIE HOLLIDAY CHAIR 1.00
Officer Director
$0 $0 $0
TOM HORNE MEMBER 0.25
Director
$0 $0 $0
NATALIE KEEFER MEMBER 0.25
Director
$0 $0 $0
RODGER LEVENSON MEMBER 0.25
Director
$0 $0 $0
BRIDGET THERRIAULT MEMBER 0.25
Director
$0 $0 $0
MICHAEL A MEOLI MEMBER 0.25
Director
$0 $0 $0
NICHOLAS A MORIELLO MEMBER 0.25
Director
$0 $0 $0
TIM HOUSEAL MEMBER 0.25
Director
$0 $0 $0
LAVERNE HARMON MEMBER 0.25
Director
$0 $0 $0
ANDREW COTTONE MEMBER 0.25
Director
$0 $0 $0
DR DAVID TAM MD MEMBER 0.25
Director
$0 $0 $0
MIKE QUARANTA PRESIDENT 40.00
Key Emp
$279,284 $4,850 $284,134
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 $1,945,026 $2,146,439 $2,857,374 $-201,413
2023 $1,856,295 $1,841,232 $2,324,965 $15,063
2022 $1,764,002 $1,676,824 $1,983,081 $87,178
2021 $1,872,008 $1,351,948 $1,666,116 $520,060
2020 $1,545,098 $1,519,097 $912,766 $26,001
2019 $1,813,478 $1,814,494 $910,898 $-1,016
2018 $1,618,311 $1,795,087 $806,122 $-176,776
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