HENDERSON COUNTY CHAMBER OF COMMERCE INCORPORATED (EIN 560258910) - 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

1926

Legal Domicile

Principal Officer

ROBERT WILLIFORD

Phone

8286921413

Tax Period

2023-01-01 to 2023-12-31

HENDERSON COUNTY CHAMBER OF COMMERCE INCORPORATED, founded in 1926, is a small nonprofit that reported $529K in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $463K left a modest 12% surplus.

Mission

THE CHAMBER IS A MEMBERSHIP ORGANIZATION, A VOLUNTARY PARTNERSHIP OF BUSINESS AND PROFESSIONAL PEOPLE WORKING TOGETHER FOR THE BENEFIT OF ALL, PRESENTING ONE VOICE TO BUILD A HEALTHY ECONOMY AND IMPROVE THE QUALITY OF LIFE IN HENDERSON COUNTY, NORTH CAROLINA. REPRESENTING ITS MEMBERS, THE CHAMBER PURSUES ITS PURPOSE THROUGH THE DEVELOPMENT OF BUSINESS, THE ECONOMY, HUMAN RESOURCES, AND PUBLIC AFFAIRS.

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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 $390,713

Program Service Revenue $110,251

Investment Income $4,235

Other Revenue $23,654

TOTAL REVENUE $528,853

Expense Breakdown

Grants Paid $0

Salaries & Benefits $248,990

Fundraising Expenses $41,870

Program Expenses $327,561

Other Expenses $213,941

TOTAL EXPENSES $462,931

Year-over-Year Comparison

	2023	2022	Change
Revenue	$528,853	$430,685	+0.2%
Expenses	$462,931	$403,102	+0.1%
Net Income	$65,922	$27,583	+1.4%

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

$126,107

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT WILLIFORD	PRESIDENT	40.00	Officer	$119,341	$6,766	$126,107
RANDY HUNTER	CHAIRMAN	3.00	Officer Director	$0	$0	$0
RAGAN WARD	CHAIRMAN ELE	3.00	Officer Director	$0	$0	$0
CRAIG DEBREW	TREASURER	3.00	Officer Director	$0	$0	$0
DAN POETA	DIRECTOR	3.00	Officer Director	$0	$0	$0
JARED BELLMUND	DIRECTOR	1.00	Director	$0	$0	$0
L CAMPBELL BOYD III	DIRECTOR	1.00	Director	$0	$0	$0
COLBY BUCHANAN	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS COMIER	DIRECTOR	1.00	Director	$0	$0	$0
KELLY CUBBIN	DIRECTOR	1.00	Director	$0	$0	$0
TERESA EDWARDS	DIRECTOR	1.00	Director	$0	$0	$0
GRAHAM FIELDS	DIRECTOR	1.00	Director	$0	$0	$0
HEATHER GRAY	DIRECTOR	1.00	Director	$0	$0	$0
DAVID GEORGE	DIRECTOR	1.00	Director	$0	$0	$0
DON HOLDER	DIRECTOR	1.00	Director	$0	$0	$0
JOHN HOLT	DIRECTOR	1.00	Director	$0	$0	$0
LAURA LEATHERWOOD	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT MOORE	DIRECTOR	1.00	Director	$0	$0	$0
DAVID MAYO	DIRECTOR	1.00	Director	$0	$0	$0
DAVE NOYES	DIRECTOR	1.00	Director	$0	$0	$0
DAVID RIDDLE	DIRECTOR	1.00	Director	$0	$0	$0
MARK RUSSELL	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL THOMPSON	DIRECTOR	1.00	Director	$0	$0	$0
AMY TREECE	DIRECTOR	1.00	Director	$0	$0	$0
FAIR NABERS WAGGONER	DIRECTOR	1.00	Director	$0	$0	$0
MARK WARWICK	DIRECTOR	1.00	Director	$0	$0	$0
AMBER WEBB	DIRECTOR	1.00	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	No data	No data	No data	No data
2023	$528,853	$462,931	$1,404,906	$65,922
2022	$430,685	$403,102	$1,366,623	$27,583
2021	$345,971	$392,028	$1,357,370	$-46,057
2020	$457,775	$390,168	$1,426,284	$67,607
2019	$379,720	$387,203	$1,383,127	$-7,483
2018	$377,561	$393,545	$1,392,870	$-15,984

HENDERSON COUNTY CHAMBER OF COMMERCE INCORPORATED