BERKELEY COUNTY 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

1977

Legal Domicile

Principal Officer

ELAINE MORGAN

Phone

8435779549

Tax Period

2024-01-01 to 2024-12-31

BERKELEY COUNTY CHAMBER OF COMMERCE, founded in 1977, is a small nonprofit that reported $354K in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $394K exceeded revenue, resulting in a 12% operating deficit.

Mission

THE CHAMBER'S PRIMARY PURPOSE IS TO PROMOTE MEMBER BUSINESSES BY PROVIDING LEADERSHIP AND SERVICES THAT CREATE A STRONG BUSINESS ENVIRONMENT AND HIGH QUALITY OF LIFE IN BERKELEY COUNTY. ALL REVENUES ARE USED TO ACHIEVE THIS GOAL.

Program Service Accomplishments

Program 1

Expenses: $6,600

TOURISM PROMOTION: THE CHAMBER RECEIVES MONEY FROM LOCAL GOVERNMENTS TO PROMOTE TOURISM. THE CHAMBER DOES ADVERTISING, DISPLAYS AND OTHER ACTIVITIES THAT ENCOURAGE TOURISTS TO VISIT THE COUNTY. THE GENERAL POPULATION OF THE COUNTY, AS WELL AS THE ADJOINING AREAS BENEFIT FROM THE ABOVE ACTIVITIES.

Program 2

Expenses: $16,448 Revenue: $30,140

LEADERSHIP BERKELY: A YEARLY PROGRAM TO SUPPLY INFORMATION AND UPDATES TO NEW EXECUTIVES AND UPCOMING LEADERS.

Program 3

Expenses: $82,974 Revenue: $101,500

RURAL WORKFORCE DEVELOPMENT: THE CHAMBER IS WORKING TO EMPOWERING RURAL COMMUNITITES BY FOSTERING WORKFORCE DEVELPMENT INITIATIVES THAT CREATE SUSTAINABLE EMPLOYMENT OPPORTUNITIES IN BERKELEY COUNTY. THROUGH SKILLS TRAINING, VOCATIONAL EDUCATION, AND CAREER SUPPORT, THE CHAMBER EQUIPS INDIVIDUALS WITH THE TOOLS NEEDED TO THRIVE IN LOCAL INDUSTRIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $339,036

Investment Income $145

Other Revenue $14,574

TOTAL REVENUE $353,755

Expense Breakdown

Grants Paid $0

Salaries & Benefits $180,628

Fundraising Expenses $0

Program Expenses $254,368

Other Expenses $213,846

TOTAL EXPENSES $394,474

Year-over-Year Comparison

	2024	2023	Change
Revenue	$353,755	$282,304	+0.3%
Expenses	$394,474	$320,445	+0.2%
Net Income	$-40,719	$-38,141	+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

Governance

Voting Members

Independent Members

Employees

N/A

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

$104,207

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELAINE MORGAN	EXECUTIVE DI	40.00	Officer	$104,207	$0	$104,207
DABID A BAGGS	TRUSTEE	5.00	Director	$0	$0	$0
PETE L BAILEY	TRUSTEE	5.00	Director	$0	$0	$0
CODY BAKER	TRUSTEE	5.00	Director	$0	$0	$0
TOD BUDDIN	TRUSTEE	5.00	Director	$0	$0	$0
ROBERT ELLIOT	TRUSTEE	5.00	Director	$0	$0	$0
BRIAN KATH	TRUSTEE	5.00	Director	$0	$0	$0
JENNIFER MYERS	TRUSTEE	5.00	Director	$0	$0	$0
ASHLEY NEGRON	TRUSTEE	5.00	Director	$0	$0	$0
RONALD NEIL	TRUSTEE	5.00	Director	$0	$0	$0
BOB PICKARD	TRUSTEE	5.00	Director	$0	$0	$0
GARY PLYLER	TRUSTEE	5.00	Director	$0	$0	$0
GINA SHULER	TRUSTEE	5.00	Director	$0	$0	$0
QUENTON TOMPKINS	TRUSTEE	5.00	Director	$0	$0	$0
ROD WHITING	TRUSTEE	5.00	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	$353,755	$394,474	$127,748	$-40,719
2023	$282,304	$320,445	$153,973	$-38,141
2022	$211,257	$256,497	$192,114	$-45,240
2021	$357,268	$289,804	$237,354	$67,464
2020	$217,604	$303,927	$171,693	$-86,323
2019	$294,591	$333,924	$256,213	$-39,333
2018	$352,571	$462,269	$295,546	$-109,698