GREATER HAVELOCK AREA CHAMBER OF COMMERCE INC

EIN: 560991286

HAVELOCK, NC

Total Revenue
$107,821
Total Expenses
$79,058
Total Assets
$81,326
Net Assets
$64,269
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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
1971
Legal Domicile
NC
Principal Officer
Kim Rice Smith
Tax Period
2020-07-01 to 2021-06-30

GREATER HAVELOCK AREA CHAMBER OF COMMERCE INC, founded in 1971, is a small nonprofit that reported $108K in total revenue in fiscal year 2020. Revenue surged 33% from the prior year, signaling strong growth momentum. The organization ran a surplus of $29K, a strong 27% operating margin.

Mission

PROMOTE BUSINESS IN HAVELOCK-Bringing Business people together to pro- mote and improve commerce and the community and provide information to prospective vistors and residents

Program Service Accomplishments

Program 1
Revenue: $1,075

Honor active duty and retired miitary vetrans. Offer local community

Program 2
Revenue: $550

Annual event to bring together local Artisans to promote their craft

Program 3
Expenses: $2,889

Service Person of the Quarter is a quarterly event to honor that

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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 (2020)

Revenue Breakdown

Contributions & Grants $81,329
Program Service Revenue $11,625
Investment Income $0
Other Revenue $14,867
TOTAL REVENUE $107,821

Expense Breakdown

Grants Paid $2,300
Salaries & Benefits $50,008
Fundraising Expenses $0
Program Expenses $2,889
Other Expenses $26,750
TOTAL EXPENSES $79,058

Year-over-Year Comparison

2020 2019 Change
Revenue $107,821 $81,150 +0.3%
Expenses $79,058 $54,245 +0.5%
Net Income $28,763 $26,905 +0.1%
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

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Governance

Voting Members
12
Independent Members
N/A
Employees
2
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
4
$0
Total Directors
10
$0
Key Employees
1
$38,711
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kim Rice Smith Chairperson 10
Officer
$0 $0 $0
Mary Eastman Vice Chair 10
Officer
$0 $0 $0
Terri Sharp Secretary 10
Officer
$0 $0 $0
Lori Glass Treasurer 10
Officer
$0 $0 $0
Kenneth Dimpse Director 5
Director
$0 $0 $0
Megan McGarvey Director 5
Director
$0 $0 $0
Gary Baldree Director 5
Director
$0 $0 $0
Bruce Fortin Director 5
Director
$0 $0 $0
Bob Warren Director 5
Director
$0 $0 $0
Dr Raymond Sta Ex-Officio 5
Director
$0 $0 $0
Frank Botorff Ex-Officio 5
Director
$0 $0 $0
Rhonda Murray Ex-Officio 5
Director
$0 $0 $0
Dr Megan Doyle Ex-Officio 5
Director
$0 $0 $0
Jeff Wood Ex-Officio 5
Director
$0 $0 $0
Erin Knight Ex-Director 40
Key Emp
$38,711 $0 $38,711
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
2021 $107,821 $79,058 $81,326 $28,763
2020 $81,150 $54,245 $47,673 $26,905
2019 $99,410 $80,553 $34,299 $18,857
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