THOMASVILLE AREA CHAMBER OF COMMER… - 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

1949

Legal Domicile

Principal Officer

KEITH TOBIN

Phone

3364756134

Tax Period

2024-01-01 to 2024-12-31

THOMASVILLE AREA CHAMBER OF COMMERCE, founded in 1949, is a small nonprofit that reported $210K in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $237K exceeded revenue, resulting in a 13% operating deficit.

Mission

TO PROMOTE COMMUNITY RELATIONS BETWEEN MERCHANTS AND TRADERS AND TO PROMOTE THE ECONOMIC DEVELOPMENT OF THOMASVILLE, NORTH CAROLINA AND THE SURROUNDING AREA.

Program Service Accomplishments

Program 1

TO FOSTER GROWTH IN MEMBERSHIP AND PROVIDE SUPPORT TO MEMBERS THROUGH VARIOUS ACTIVITIES AND EVENTS.

Program 2

TO PROMOTE ECONOMIC DEVELOPMENT WITHIN THOMASVILLE, NORTH CAROLINA AND THE SURROUNDING AREA THROUGH EDUCATIONAL EVENTS AND COMMUNITY PARTNERSHIPS FOCUSED ON DEVELOPING BOTH THE CURRENT AND FUTURE...

TO PROMOTE ECONOMIC DEVELOPMENT WITHIN THOMASVILLE, NORTH CAROLINA AND THE SURROUNDING AREA THROUGH EDUCATIONAL EVENTS AND COMMUNITY PARTNERSHIPS FOCUSED ON DEVELOPING BOTH THE CURRENT AND FUTURE WORKFORCE.

Program 3

TO EDUCATE AND INFORM MEMBERS OF RELEVANT PUBLIC POLICY ISSUES REGARDING BUSINESS INCENTIVES, GOVERNMENT REGULATION, AND LOCAL BUSINESS INITIATIVES.

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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 $69,900

Program Service Revenue $114,075

Investment Income $0

Other Revenue $25,914

TOTAL REVENUE $209,889

Expense Breakdown

Grants Paid $0

Salaries & Benefits $148,066

Fundraising Expenses $0

Other Expenses $88,488

TOTAL EXPENSES $236,554

Year-over-Year Comparison

	2024	2023	Change
Revenue	$209,889	$238,596	-0.1%
Expenses	$236,554	$231,010	+0.0%
Net Income	$-26,665	$7,586	-4.5%

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

$78,759

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHUCK MCCONKEY	DIRECTOR	1.00	Director	$0	$0	$0
EDDIE BOWLING	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW CLEMENT	DIRECTOR	1.00	Director	$0	$0	$0
DIANA SULLIVAN	CHAIR	2.00	Officer Director	$0	$0	$0
JON APPLEBAUM	DIRECTOR	1.00	Director	$0	$0	$0
GARY BOWERS	DIRECTOR	1.00	Director	$0	$0	$0
MARK GREEN	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN BROWN	VICE CHAIR	2.00	Officer Director	$0	$0	$0
HEATHER LEWIS	DIRECTOR	1.00	Director	$0	$0	$0
JESSICA NANCE	DIRECTOR	1.00	Director	$0	$0	$0
TYLER ALLRED	DIRECTOR	1.00	Director	$0	$0	$0
DAVID SNAPP	PAST CHAIR	2.00	Officer Director	$0	$0	$0
TONY VIZZINI	DIRECTOR	1.00	Director	$0	$0	$0
ANGIE RUBNICH	TREASURER	2.00	Officer Director	$0	$0	$0
AIMEE BOOZER	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY GLEISER	DIRECTOR	1.00	Director	$0	$0	$0
KEITH TOBIN	CHAMBER PRESIDENT	40.00	Officer	$72,739	$6,020	$78,759

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	$209,889	$236,554	$78,988	$-26,665
2023	$238,596	$231,010	$134,374	$7,586
2022	$181,224	$217,690	$128,268	$-36,466
2021	$183,327	$183,963	$163,214	$-636
2020	$174,698	$187,812	$216,889	$-13,114
2019	$215,312	$247,082	$229,985	$-31,770
2018	$246,877	$227,241	$261,754	$19,636

THOMASVILLE AREA CHAMBER OF COMMERCE