OCEAN CITY MD CHAMBER OF COMMERCE

EIN: 520710234

OCEAN CITY, MD

Total Revenue
$707,655
Total Expenses
$853,907
Total Assets
$973,883
Net Assets
$314,769
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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
1953
Legal Domicile
MD
Principal Officer
AMY THOMPSON
Phone
4102130144
Tax Period
2023-09-01 to 2024-08-31

OCEAN CITY MD CHAMBER OF COMMERCE, founded in 1953, is a small nonprofit that reported $708K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $854K exceeded revenue, resulting in a 21% operating deficit.

Mission

PROMOTE OCEAN CITY, MARYLAND COMMERCE

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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 (2023)

Revenue Breakdown

Contributions & Grants $237,601
Program Service Revenue $288,822
Investment Income $839
Other Revenue $180,393
TOTAL REVENUE $707,655

Expense Breakdown

Grants Paid $0
Salaries & Benefits $446,852
Fundraising Expenses $0
Program Expenses $615,132
Other Expenses $407,055
TOTAL EXPENSES $853,907

Year-over-Year Comparison

2023 2022 Change
Revenue $707,655 $756,083 -0.1%
Expenses $853,907 $842,019 +0.0%
Net Income $-146,252 $-85,936 +0.7%
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

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Governance

Voting Members
15
Independent Members
N/A
Employees
7
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
5
$0
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TONI KEISER DIRECTOR N/A
Director
$0 $0 $0
BOB THOMPSON IMMEDIATE PA N/A
Officer Director
$0 $0 $0
PHILLIP CHEUNG CHAIR N/A
Officer Director
$0 $0 $0
STEVE PASTUSAK CHAIR-ELECT N/A
Officer Director
$0 $0 $0
BOBBI JONES DIRECTOR N/A
Director
$0 $0 $0
JOE WILSON DIRECTOR N/A
Director
$0 $0 $0
SAL FASANO TREASURER N/A
Officer Director
$0 $0 $0
ASHLEY HARRISON DIRECTOR N/A
Director
$0 $0 $0
GARY FIGGS DIRECTOR N/A
Director
$0 $0 $0
JOE MAGNOLIA SECRETARY N/A
Officer Director
$0 $0 $0
TRISHA SEITZ DIRECTOR N/A
Director
$0 $0 $0
JOE GROVES DIRECTOR N/A
Director
$0 $0 $0
ELAINE DAVIDSON DIRECTOR N/A
Director
$0 $0 $0
BILLY APOSTOLOU DIRECTOR N/A
Director
$0 $0 $0
LYNDSEY ODACHOWSKI DIRECTOR N/A
Director
$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 $707,655 $853,907 $973,883 $-146,252
2023 $756,083 $842,019 $1,160,457 $-85,936
2022 $646,787 $818,747 $1,239,829 $-171,960
2021 $604,749 $663,595 $1,513,345 $-58,846
2020 $760,938 $741,567 $1,603,866 $19,371
2019 $932,346 $813,409 $1,700,963 $118,937
2018 $924,711 $813,575 $1,575,763 $111,136
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