GREATER WILMINGTON CHAMBER OF COMM… - Form 990 Financial Data

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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

1942

Legal Domicile

Principal Officer

NATALIE ENGLISH

Phone

9107622611

Tax Period

2023-01-01 to 2023-12-31

GREATER WILMINGTON CHAMBER OF COMMERCE, founded in 1942, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum. Expenses of $1.6M left a modest 5% surplus.

Mission

TO PROTECT AND STRENGTHEN THE WILMINGTON BUSINESS COMMUNITY AND HELP BUSINESSES GROW AND THRIVE BY PROVIDING MEMBERS WITH BUSINESS-BUILDING PROGRAMS AND EVENTS TO HELP THEM CONNECT AND DO BUSINESS WITH ONE ANOTHER.

Program Service Accomplishments

Program 1

IN 2023 THE WILMINGTON CHAMBER HOSTED A TOTAL OF 127 NETWORKING EVENTS, RIBBON CUTTINGS AND COMMITTEE MEETINGS. IN ADDITION, THE CHAMBER LAUNCHED THE NC CAREER COAST TALENT ATTRACTION CAMPAIGN AIMED AT ATTRACTING TALENT FROM OUTSIDE THE REGION TO GROW THE SIZE OF THE WORKFORCE AS THE NUMBER OF JOBS CONTINUES TO GROW. THE WILMINGTON CHAMBER OF COMMERCE FOUNDATION RECEIVED A GRANT TO LAUNCH AND SERVE AS THE ANCHOR INSTITUTION FOR THE HEALTHCARE TRANSFORMATION PROJECT TO ATTRACT, DEVELOP, AND RETAIN NURSING STUDENTS AND PROFESSIONALS IN NEW HANOVER COUNTY. THE FOUNDATION ALSO MORE THAN DOUBLED THE NUMBER OF STUDENTS PARTICIPATING IN THE CAREER AND LEADERSHIP DEVELOPMENT ACADEMY IN COLLABORATION WITH NEW HANOVER COUNTY SCHOOLS TO PROVIDE CURRENT NEW HANOVER COUNTY MIDDLE SCHOOL STUDENTS AN OPPORTUNITY TO ACQUIRE CAREER, LEADERSHIP, AND EDUCATION PATHWAY KNOWLEDGE THROUGHOUT THE TEN-MONTH PROGRAM. THE FOUNDATION ALSO RECEIVED A STATE APPROPRIATION TO PILOT THE EXPANSION OF THE PROGRAM TO ALL SEVENTH GRADERS AND TO GROW THE NUMBER OF EIGHTH GRADERS IN THE PROGRAM.

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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 $139,524

Program Service Revenue $1,378,207

Investment Income $11,692

Other Revenue $143,895

TOTAL REVENUE $1,673,318

Expense Breakdown

Grants Paid $0

Salaries & Benefits $777,578

Fundraising Expenses $0

Other Expenses $810,874

TOTAL EXPENSES $1,588,452

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,673,318	$1,197,461	+0.4%
Expenses	$1,588,452	$1,156,293	+0.4%
Net Income	$84,866	$41,168	+1.1%

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

250

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

$246,787

Total Directors