SARANAC LAKE AREA CHAMBER OF COMMERCE (EIN 510197092) - Form 990 Financial Analysis & Trantor Score

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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

1921

Legal Domicile

Principal Officer

JACOB WRIGHT

Phone

5188911990

Tax Period

2023-06-01 to 2024-05-31

SARANAC LAKE AREA CHAMBER OF COMMERCE, founded in 1921, is a small nonprofit that reported $211K in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $195K left a modest 8% surplus.

Mission

TO GENERATE ECONOMIC DEVELOPMENT THROUGH PROMOTIONAL AND MARKETING AND BUSINESS BUILDING INITIATIVES THAT FOCUS ON THE CRITICAL PRIORITIES OF THE SARANAC LAKE COMMUNITY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $62,877

Program Service Revenue $148,517

Investment Income $5

Other Revenue $0

TOTAL REVENUE $211,399

Expense Breakdown

Grants Paid $0

Salaries & Benefits $109,687

Fundraising Expenses $0

Other Expenses $85,240

TOTAL EXPENSES $194,927

Year-over-Year Comparison

	2023	2022	Change
Revenue	$211,399	$169,143	+0.2%
Expenses	$194,927	$154,574	+0.3%
Net Income	$16,472	$14,569	+0.1%

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
COREY HURWITCH	TREASURER	N/A	Officer	$0	$0	$0
CHRIS KNIGHT	VICE-PRESIDE	N/A	Officer	$0	$0	$0
EMMETT SMITH	SECRETARY	N/A	Officer	$0	$0	$0
JACOB WRIGHT	PRESIDENT	N/A	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	$211,399	$194,927	$122,639	$16,472

SARANAC LAKE AREA CHAMBER OF COMMERCE