CURRITUCK 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

1997

Principal Officer

JOSH BASS

Phone

2524539497

Tax Period

2023-10-01 to 2024-09-30

CURRITUCK CHAMBER OF COMMERCE, founded in 1997, is a small nonprofit that reported $229K in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $217K left a modest 5% surplus.

Mission

TO ADVANCE THE GENERAL WELFARE AND PROSPERITY OF THE CURRITUCK ECONOMIC REGION SO THAT ITS CITIZENS AND ALL AREAS OF THE BUSINESS COMMUNITY PROSPER.

Program Service Accomplishments

Program 1

Expenses: $87,086

PROMOTE TOURISM IN THE AREA, ASSIST MEMBERS WITH ADVERTSING, SET UP MEETINGS AND EVENTS TO GIVE MEMEBERS THE OPPORTUNITY TO INFORM BUSINESSES AND OTHER MEMBERS OF THE COMMUNITY THE SERVICES THAT ARE...

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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 $151,584

Program Service Revenue $0

Investment Income $12,904

Other Revenue $64,055

TOTAL REVENUE $228,543

Expense Breakdown

Grants Paid $0

Salaries & Benefits $163,143

Fundraising Expenses $28,266

Program Expenses $96,379

Other Expenses $53,640

TOTAL EXPENSES $216,783

Year-over-Year Comparison

	2023	2022	Change
Revenue	$228,543	$203,353	+0.1%
Expenses	$216,783	$203,845	+0.1%
Net Income	$11,760	$-492	-24.9%

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

$85,298

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSH BASS	PRESIDENT	40.00	Officer	$85,298	$0	$85,298
MICHAEL FLOREZ	DIRECTOR	N/A	Director	$0	$0	$0
MILES DANIELS	CHAIR	N/A	Director	$0	$0	$0
DENISE HALL	VICE CHAIR	N/A	Director	$0	$0	$0
SANDI AYERS	SECRETARY	N/A	Officer	$0	$0	$0
SANDY DAVIDSON	TREASURER	N/A	Officer	$0	$0	$0
ANTHONY DUNCAN-VELKE	DIRECTOR	N/A	Director	$0	$0	$0
COURTNEY GALLOP	DIRECTOR	N/A	Director	$0	$0	$0
MOLLY GARAVITO	DIRECTOR	N/A	Director	$0	$0	$0
MIKE MARTINE	DIRECTOR	N/A	Director	$0	$0	$0
KATHERINE WADE	DIRECTOR	N/A	Director	$0	$0	$0
SUSIE S RAINWATER	DIRECTOR	N/A	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	$228,543	$216,783	$437,681	$11,760
2023	$203,353	$203,845	$402,716	$-492
2022	$219,610	$213,085	$390,984	$6,525
2021	$273,441	$186,362	$411,473	$87,079
2020	$199,962	$171,452	$312,746	$28,510