CHESAPEAKE BUSINESS FINANCE CORP (EIN 522239603) - 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

1998

Legal Domicile

Principal Officer

JOHN SOWER

Phone

2402240217

Tax Period

2024-01-01 to 2024-12-31

CHESAPEAKE BUSINESS FINANCE CORP, founded in 1998, is a small nonprofit in the Employment sector that reported $889K in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $826K left a modest 7% surplus.

Mission

CHESAPEAKE BUSINESS FINANCE CORP ("CHESAPEAKE") IS A PRIVATE NON-PROFIT CORPORATION LICENSED BY THE U.S. SMALL BUSINESS ADMINISTRATION ("SBA") TO MAKE SBA 504 LOANS TO BUSINESSES IN MARYLAND, DC, SOUTHERN DELAWARE, NORTHERN VIRGINIA, AND EASTERN WEST VIRGINIA.

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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 $698,719

Investment Income $22,124

Other Revenue $168,012

TOTAL REVENUE $888,855

Expense Breakdown

Grants Paid $0

Salaries & Benefits $525,785

Fundraising Expenses $0

Program Expenses $614,825

Other Expenses $300,193

TOTAL EXPENSES $825,978

Year-over-Year Comparison

	2024	2023	Change
Revenue	$888,855	$733,589	+0.2%
Expenses	$825,978	$742,200	+0.1%
Net Income	$62,877	$-8,611	-8.3%

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

$500,768

Total Directors

$399,713

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN SOWER	PRESIDENT & SECRETARY, EBM	50.00	Officer Director	$399,713	$0	$399,713
ANDREW HECK	EXECUTIVE BOARD MEMBER	0.30	Director	$0	$0	$0
CEDRIC L SPRUILL	EXECUTIVE BOARD MEMBER	0.30	Director	$0	$0	$0
DAVID SHIKLES	EXECUTIVE BOARD MEMBER	0.20	Director	$0	$0	$0
FREDERICK SCHULTZ	EXECUTIVE BOARD MEMBER	0.20	Director	$0	$0	$0
GARY W THOMAS	EXECUTIVE BOARD MEMBER	0.30	Director	$0	$0	$0
JOHN W BYRNE	EXECUTIVE BOARD MEMBER	0.30	Director	$0	$0	$0
MALCOLM MARSHALL	EXECUTIVE BOARD MEMBER	0.20	Director	$0	$0	$0
WILBUR DOVE	EXECUTIVE BOARD MEMBER	0.30	Director	$0	$0	$0
THOMAS TURNER	VICE PRESIDENT	40.00	Officer	$101,055	$0	$101,055

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	$888,855	$825,978	$864,372	$62,877
2023	$733,589	$742,200	$706,265	$-8,611
2022	$748,359	$720,308	$689,174	$28,051
2021	$800,703	$781,785	$704,830	$18,918
2020	$819,252	$742,667	$687,673	$76,585
2019	$756,623	$733,470	$605,104	$23,153
2018	$809,723	$751,361	$572,033	$58,362

CHESAPEAKE BUSINESS FINANCE CORP