SOUTHPORT OAK ISLAND AREA CHAMBER OF COMMERCE INC (EIN 561184026) - Form 990 Financial Analysis & Trantor Score

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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

1980

Legal Domicile

Principal Officer

TERESA CARROLL

Phone

9104576954

Tax Period

2023-07-01 to 2024-06-30

SOUTHPORT OAK ISLAND AREA CHAMBER OF COMMERCE INC, founded in 1980, is a small nonprofit in the Community Improvement sector that reported $364K in total revenue in fiscal year 2023. Revenue surged 47% from the prior year, signaling strong growth momentum. Expenses of $334K left a modest 8% surplus.

Mission

THE MISSION STATEMENT OF THE SOUTHPORT-OAK ISLAND AREA CHAMBER OF COMMERCE IS TO ADVANCE THE GENERAL WELFARE OF ITS MEMBERS AND THE PROSPERITY OF THE AREA SO THAT ALL CITIZENS AND ALL AREAS OF ITS BUSINESS COMMUNITY SHALL PROSPER. PARTICULAR ATTENTION AND EMPHASIS SHALL BE GIVEN TO THE ECONOMIC, CIVIC, COMMERCIAL, CULTURAL, INDUSTRIAL AND EDUCATIONAL INTEREST OF THE AREA WITH ALL APPROPRIATE MEANS OF PROMOTION PROVIDED.

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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 $134,003

Program Service Revenue $106,436

Investment Income $1,162

Other Revenue $122,460

TOTAL REVENUE $364,061

Expense Breakdown

Grants Paid $0

Salaries & Benefits $148,319

Fundraising Expenses $0

Other Expenses $185,903

TOTAL EXPENSES $334,222

Year-over-Year Comparison

	2023	2022	Change
Revenue	$364,061	$248,276	+0.5%
Expenses	$334,222	$304,691	+0.1%
Net Income	$29,839	$-56,415	-1.5%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TERESA CARROLL	PRESIDENT	2.00	Officer	$0	$0	$0
KAREN SPHAR	EXECUTIVE VI	40.00	Officer	$0	$0	$0
JACKIE DEL PRETE	VICE PRESIDE	1.00	Officer	$0	$0	$0
FELICIA SEXTON	VICE PRESIDE	1.00	Officer	$0	$0	$0
HUGH FOSBURY	VICE PRESIDE	1.00	Officer	$0	$0	$0
JACK HAMILTON	VICE PRESIDE	1.00	Officer	$0	$0	$0
PAMELA SEXTON	VICE PRESIDE	1.00	Director	$0	$0	$0
LISA BENNA	DIRECTOR	1.00	Director	$0	$0	$0
BRIANA NEELEY	DIRECTOR	1.00	Director	$0	$0	$0
CINDY CAPPS	DIRECTOR	1.00	Director	$0	$0	$0
HEATHER KING	DIRECTOR	1.00	Director	$0	$0	$0
BRADLEY NARRON	DIRECTOR	1.00	Director	$0	$0	$0
BROOKE RUDD-GAGLIE	DIRECTOR	1.00	Director	$0	$0	$0
JUSTIN CUTRELL	DIRECTOR	1.00	Director	$0	$0	$0
GINA DISABATO	DIRECTOR	1.00	Director	$0	$0	$0
WILL MITCHELL	DIRECTOR	1.00	Director	$0	$0	$0
KATE INMAN	DIRECTOR	1.00	Director	$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	$364,061	$334,222	$553,885	$29,839
2023	$267,109	$304,691	$534,072	$-37,582
2022	$356,710	$310,632	$568,141	$46,078
2021	$340,224	$253,991	$519,952	$86,233
2020	$295,362	$258,284	$431,096	$37,078
2019	$238,243	$265,924	$391,478	$-27,681
2018	$329,004	$276,219	$403,869	$52,785

SOUTHPORT OAK ISLAND AREA CHAMBER OF COMMERCE INC