SOUTH HILL CHAMBER OF COMMERCE

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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

2022

Principal Officer

GRETCHEN HAYES

Phone

4344474547

Tax Period

2023-07-01 to 2024-06-30

SOUTH HILL CHAMBER OF COMMERCE, founded in 2022, is a small nonprofit that reported $221K in total revenue in fiscal year 2023. Revenue surged 43% from the prior year, signaling strong growth momentum. Expenses of $312K exceeded revenue, resulting in a 42% operating deficit.

Mission

PROVIDE MEMBERS A FORUM FOR THE EXCHANGE OF INFORMTION AND BUSINESS DEVELOPMENT. SUPPORT AND PARTICIPATE IN OUR LOCAL PROGRAMS. PROMOTE AND PROVIDE EXPOSURE THROUGH OUR RESOURCES AND COMMUNITY ACTIVITIES. WE ARE A VOICE FOR OR MEMBERS. WE ACT AS A LIAISON BETWEEN LOCAL GOVERNMENT AND OUR MEMBERSHIP. WE SUPPORT EFFORTS OF EXPANSION, REVITALIZATOIN, AND ECONOMIC DEVELOPMENT. DISCOVER AND CORRECT ABUSES THAT ARE DETRIMENTAL TO BUSINESSES. ENCOURAGE BUSINESS DEVELOPMENT AND GROWTH IN THE COMMUNITY OF SOUTH HILL, VA.

Program Service Accomplishments

Program 1

OUR MISSION IS TO: PROVIDE MEMBERS A FORUM FOR THE EXCHANGE OF INFORMTION AND BUSINESS DEVELOPMENT. SUPPORT AND PARTICIPATE IN OUR LOCAL PROGRAMS. PROMOTE AND PROVIDE EXPOSURE THROUGH OUR RESOURCES AND COMMUNITY ACTIVITIES. WE ARE A VOICE FOR OR MEMBERS. WE ACT AS A LIAISON BETWEEN LOCAL GOVERNMENT AND OUR MEMBERSHIP. WE SUPPORT EFFORTS OF EXPANSION, REVITALIZATOIN, AND ECONOMIC DEVELOPMENT. DISCOVER AND CORRECT ABUSES THAT ARE DETRIMENTAL TO BUSINESSES. ENCOURAGE BUSINESS DEVELOPMENT AND GROWTH IN THE COMMUNITY OF SOUTH HILL, VA.

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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 $162,685

Program Service Revenue $56,355

Investment Income $1,467

Other Revenue $0

TOTAL REVENUE $220,507

Expense Breakdown

Grants Paid $0

Salaries & Benefits $148,167

Fundraising Expenses $106,142

Other Expenses $164,092

TOTAL EXPENSES $312,259

Year-over-Year Comparison

	2023	2022	Change
Revenue	$220,507	$154,482	+0.4%
Expenses	$312,259	$156,971	+1.0%
Net Income	$-91,752	$-2,489	+35.9%

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

N/A

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
GRETCHEN HAYES	VICE PRESIDE	N/A	Officer	$0	$0	$0
TAMMY MANNING	TREASURER	N/A	Officer	$0	$0	$0
TERI NEWMAN WALKER	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	$220,507	$312,259	$359,453	$-91,752
2021	$1,031,485	$952,036	$447,231	$79,449
2020	$161,619	$115,071	$357,616	$46,548
2019	$95,545	$91,078	$311,068	$4,467