CARY 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

1962

Legal Domicile

Principal Officer

MARK LAWSON

Phone

9194671016

Tax Period

2022-09-01 to 2023-08-31

CARY CHAMBER OF COMMERCE, founded in 1962, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2022. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

THE CARY CHAMBER OF COMMERCE PROMOTES ECONOMIC GROWTH THROUGH ACTIVELY ENGAGING EXISTING AND FUTURE BUSINESSES AND SUPPORTING CIVIC ACTIVITIES THAT CONTRIBUTE TO THE QUALITY OF LIFE IN CARY.

Program Service Accomplishments

Program 1

THE CARY CHAMBER OF COMMERCE PROMOTES CARY LOCALLY, REGIONALLY, NATIONALLY AND INTERNATIONALLY.

Program 2

THE CHAMBER HAS APPROXIMATELY 1,175 MEMBERS WHO CAN PARTICIPATE IN THE CHAMBER'S MAJOR EVENTS AND PROGRAMS. THE CHAMBER SERVES AS THE VOICE OF BUSINESS IN THE CARY COMMUNITY.

Program 3

STAFFING AND MAINTAINING A SINGLE-PURPOSE ECONOMIC DEVELOPMENT ORGANIZATION TO IMPLEMENT AND MAINTAIN A ROBUST ECONOMIC DEVELOPMENT ACTION PLAN FOR CARY. THIS ORGANIZATION SERVES AS THE BUSINESS...

STAFFING AND MAINTAINING A SINGLE-PURPOSE ECONOMIC DEVELOPMENT ORGANIZATION TO IMPLEMENT AND MAINTAIN A ROBUST ECONOMIC DEVELOPMENT ACTION PLAN FOR CARY. THIS ORGANIZATION SERVES AS THE BUSINESS RECRUITMENT, RETENTION, AND EXPANSION ORGANIZATION FOR CARY.

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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 (2022)

Revenue Breakdown

Contributions & Grants $934,572

Program Service Revenue $671,134

Investment Income $9,844

Other Revenue $29,020

TOTAL REVENUE $1,644,570

Expense Breakdown

Grants Paid $0

Salaries & Benefits $784,513

Fundraising Expenses $0

Other Expenses $880,150

TOTAL EXPENSES $1,664,663

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,644,570	$1,458,073	+0.1%
Expenses	$1,664,663	$1,530,916	+0.1%
Net Income	$-20,093	$-72,843	-0.7%

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

$303,838

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WENDY COULTER	CHAIR	2.00	Officer Director	$0	$0	$0
RICK STEPHENSON	IMMEDIATE PAST CHAIR	2.00	Officer Director	$0	$0	$0
DAVID BOOTH	SEC/TREAS	2.00	Officer Director	$0	$0	$0
MOSS WITHERS	CHAIR-ELECT	2.00	Officer Director	$0	$0	$0
MICHELE LOWERY	DIRECTOR	2.00	Director	$0	$0	$0
HANNAH AAMOT	DIRECTOR	2.00	Director	$0	$0	$0
BETH BYERLEY	DIRECTOR	2.00	Director	$0	$0	$0
TOM HUGHES	DIRECTOR	2.00	Director	$0	$0	$0
JORDAN GUSSENHOVEN	DIRECTOR	2.00	Director	$0	$0	$0
RUTHIE PRITCHARD	DIRECTOR	2.00	Director	$0	$0	$0
ALPESH KARSALIA	DIRECTOR	2.00	Director	$0	$0	$0
JEFF MONCRIEF	DIRECTOR	2.00	Director	$0	$0	$0
RANDY WEAVER	DIRECTOR	2.00	Director	$0	$0	$0
NEIL WAGONER	DIRECTOR	2.00	Director	$0	$0	$0
EMILY ZIEGLER	DIRECTOR	2.00	Director	$0	$0	$0
ANITA BALDWIN	DIRECTOR	2.00	Director	$0	$0	$0
HOWARD BROWNE	DIRECTOR	2.00	Director	$0	$0	$0
REBECCA CORBIN	DIRECTOR	2.00	Director	$0	$0	$0
CHUCK NORMAN	DIRECTOR	2.00	Director	$0	$0	$0
NICOL WHITAKER	DIRECTOR	2.00	Director	$0	$0	$0
JULIA WRIGHT	DIRECTOR	2.00	Director	$0	$0	$0
HOWARD JOHNSON	PRESIDENT	40.00	Officer	$109,756	$5,068	$114,824
MARK LAWSON	PRESIDENT	40.00	Officer	$181,100	$7,914	$189,014

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$1,644,570	$1,664,663	$1,607,709	$-20,093
2022	$1,458,073	$1,530,916	$1,589,188	$-72,843
2021	$1,581,777	$1,284,096	$1,706,705	$297,681
2020	$1,295,693	$1,300,177	$1,436,693	$-4,484
2019	$1,578,068	$1,569,955	$1,304,491	$8,113