FRANKLIN AREA CHAMBER OF COMMERCE

EIN: 560902302

FRANKLIN, NC

Total Revenue
$904,971
Total Expenses
$854,981
Total Assets
$1,794,667
Net Assets
$1,651,585
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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
1969
Legal Domicile
NC
Phone
8285243161
Tax Period
2024-01-01 to 2024-12-31

FRANKLIN AREA CHAMBER OF COMMERCE, founded in 1969, is a small nonprofit that reported $905K in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $855K left a modest 6% surplus.

Mission

AREA CHAMBER OF COMMERCE

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $159,457
Program Service Revenue $634,110
Investment Income $31,557
Other Revenue $79,847
TOTAL REVENUE $904,971

Expense Breakdown

Grants Paid $0
Salaries & Benefits $165,480
Fundraising Expenses $0
Program Expenses $496,086
Other Expenses $689,501
TOTAL EXPENSES $854,981

Year-over-Year Comparison

2024 2023 Change
Revenue $904,971 $972,151 -0.1%
Expenses $854,981 $664,784 +0.3%
Net Income $49,990 $307,367 -0.8%
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

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Governance

Voting Members
15
Independent Members
N/A
Employees
3
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
1
$60,188
Total Directors
0
$0
Key Employees
2
$92,686
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LINDA C HARBUCK EXECUTIVE DIRECTOR 0.00
Officer
$60,188 $0 $60,188
MARTHA D BALDWIN AMDINISTRATIVE ASST 0.00
Key Emp
$47,407 $0 $47,407
CYNTHIA L CAVENDAR MARKETING DIRECTOR 0.00
Key Emp
$45,279 $0 $45,279
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 $904,971 $854,981 $1,794,667 $49,990
2023 $972,151 $664,784 $1,754,524 $307,367
2022 $800,131 $547,550 $1,457,874 $252,581
2021 $761,527 $431,196 $1,210,744 $330,331
2020 $578,629 $428,646 $890,096 $149,983
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