DELAWARE STATE CHAMBER OF COMMERCE… - 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

1915

Legal Domicile

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 PROMOTE AN ECONOMIC CLIMATE THAT STRENGTHENS THE COMPETITIVENESS OF DELAWARE BUSINESSES AND BENEFITS CITIZENS OF THE STATE. THE CHAMBER WILL PROVIDE SERVICES MEMBERS WANT; IT WILL SERVE AND BE RECOGNIZED AS THE PRIMARY RESOURCE ON MATTERS AFFECTING COMPANIES OF ALL SIZES; AND IT WILL BE THE LEADING ADVOCATE FOR BUSINESS WITH GOVERNMENT IN DELAWARE.

Program Service Accomplishments

Program 1

Expenses: $157,883 Revenue: $625,750

ANNUAL DINNER EVENT - THE DELAWARE STATE CHAMBERS LARGEST NETWORK EVENT WITH DELAWARE'S BUSINESS LEADERS. THE EVENT FEATURES A WELL KNOWN KEYNOTE SPEAKER, DINNER AND PRESENTATION OF THE JOSIAH MARVEL CUP AWARD TO THE DELAWARE BUSINESS LEADER OR PROMINENT PERSON WHO MAKES SIGNIFICANT CONTRIBUTIONS TO THE STATE.

Program 2

Expenses: $40,744 Revenue: $63,838

SUPERSTARS IN BUSINESS EVENT - RECOGNITION LUNCHEON FOR SMALL BUSINESS OWNERS AND NON-PROFITS. MEMBERS DESCRIBE WHAT'S SPECIAL ABOUT THEIR SMALL BUSINESS; EACH BUSINESS IS CONFIDENTIALLY REVIEWED BY A PANEL OF ACCOMPLISHED BUSINESS LEADERS WHO CHOOSE DELAWARE'S SUPERSTARS IN BUSINESS. THE EXPERIENCE ALSO PROVIDES FEEDBACK ABOUT THE APPLICANT'S BUSINESS. AWARDS ARE PRESENTED AT THE LUNCHEON ALONG WITH A VIDEO THAT SHOWCASES THE BUSINESS.

Program 3

Expenses: $1,485,859 Revenue: $1,255,438

BUSINESS RELATIONS AND COMMUNITY SERVICES.

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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 $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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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

Total Directors

Key Employees

$284,134

Highest Compensated

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

DELAWARE STATE CHAMBER OF COMMERCE INC