BENSON AREA 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

1949

Legal Domicile

Principal Officer

LORETTA BYRD

Phone

9198943825

Tax Period

2023-01-01 to 2023-12-31

BENSON AREA CHAMBER OF COMMERCE, founded in 1949, is a small nonprofit that reported $122K in total revenue in fiscal year 2023. Expenses of $158K exceeded revenue, resulting in a 29% operating deficit.

Mission

ADVANCE THE GENERAL WELFARE OF THE COMMUNITY

Program Service Accomplishments

Program 1

Expenses: $157,518 Revenue: $122,611

THE ORGANIZATION IS ORGANIZED TO ADVANCE THE GENERAL WELFARE OF THE COMMUNITY. THE ORGANIZATION SERVES ITS 250 MEMBERS AS WELL AS THE GENERAL PUBLIC.

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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 $0

Program Service Revenue $49,538

Investment Income $89

Other Revenue $72,638

TOTAL REVENUE $122,265

Expense Breakdown

Grants Paid $0

Salaries & Benefits $75,269

Fundraising Expenses $0

Program Expenses $157,518

Other Expenses $82,249

TOTAL EXPENSES $157,518

Year-over-Year Comparison

	2023	2022	Change
Revenue	$122,265	$115,543	+0.1%
Expenses	$157,518	$132,639	+0.2%
Net Income	$-35,253	$-17,096	+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

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

$56,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LORETTA BYRD	PRESIDENT	40.00	Officer	$56,000	$0	$56,000
BRIAN BAREFOOT	DIRECTOR	1.00	Director	$0	$0	$0
SHANNA CAPPS	DIRECTOR	1.00	Director	$0	$0	$0
JOSHUA CARO	DIRECTOR	1.00	Director	$0	$0	$0
DEBORAH DAVIS	DIRECTOR	1.00	Director	$0	$0	$0
JAYMES ELLIOTT	BOARD CAHIR	1.00	Director	$0	$0	$0
DH JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
JOEY MAPLES	DIRECTOR	1.00	Director	$0	$0	$0
RUSS MCLAMB	DIRECTOR	1.00	Director	$0	$0	$0
MATT MOORE	CHAIRMAN	1.00	Director	$0	$0	$0
ELAINE OLSEN	ADMIN SUPPOR	1.00	Director	$0	$0	$0
KIM PICKETT	DIRECTOR	1.00	Director	$0	$0	$0
ANGEL SANCHEZ	DIRECTOR	1.00	Director	$0	$0	$0
TERRI SESSOMS	DIRECTOR	1.00	Director	$0	$0	$0
LEAH JOHNSON	TREASURER	1.00	Officer	$0	$0	$0
JUSTIN POWELL	PAST CHAIR	1.00	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	No data	No data	No data	No data
2023	$122,265	$157,518	$115,585	$-35,253
2022	$115,543	$132,639	$167,683	$-17,096
2021	$117,462	$125,688	$198,249	$-8,226
2020	$108,916	$99,724	$212,762	$9,192
2019	$135,165	$116,378	$99,777	$18,787
2018	$89,672	$125,486	$109,103	$-35,814
2017	$114,620	$99,950	$106,863	$14,670