LAKELAND AREA CHAMBER OF COMMERCE … - Form 990 Financial Data

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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

1921

Legal Domicile

Principal Officer

AMY WIGGINS

Phone

8636888551

Tax Period

2023-01-01 to 2023-12-31

LAKELAND AREA CHAMBER OF COMMERCE INC, founded in 1921, is a small nonprofit that reported $909K in total revenue in fiscal year 2023. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 22% operating deficit.

Mission

THE LAKELAND AREA CHAMBER OF COMMERCE SERVES AS THE PREMIER CATALYST FOR THE ADVANCEMENT OF LAKELAND'S ECONOMIC GROWTH AND ENHANCEMENT OF QUALITY OF LIFE.

Program Service Accomplishments

Program 1

Expenses: $892,340

THE LAKELAND AREA CHAMBER OF COMMERCE MARKETS LAKELAND AS A CONVENTION, TOURIST, AND BUSINESS DESTINATION THROUGH A BROAD MENU OF PROGRAMS, SERVICES, AND EVENTS. PUBLIC AFFAIRS AND MEMBER RELATIONS SERVICES ARE PROVIDED BY MEANS OF A MONTHLY NEWSLETTER, SPONSORSHIP OF VARIOUS COMMUNITY SERVICE PROJECTS AND RELATED OUTREACH EFFORTS.

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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 $20,801

Program Service Revenue $880,627

Investment Income $5,905

Other Revenue $1,761

TOTAL REVENUE $909,094

Expense Breakdown

Grants Paid $0

Salaries & Benefits $596,416

Fundraising Expenses $0

Program Expenses $892,340

Other Expenses $517,163

TOTAL EXPENSES $1,113,579

Year-over-Year Comparison

	2023	2022	Change
Revenue	$909,094	$1,247,070	-0.3%
Expenses	$1,113,579	$1,249,884	-0.1%
Net Income	$-204,485	$-2,814	+71.7%

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

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

$113,180

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JASON RODDA	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
AMANDA WALLS	CHAIR ELECT	1.00	Officer Director	$0	$0	$0
TORI LEHMAN	TREASURER	1.00	Officer Director	$0	$0	$0
LORI MARTINI	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SYLVIA BLACKMON-ROBERTS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
GOW FIELDS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
PATRICK PHILLIPS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
WILLIAM ROLL JR	VICE CHAIR	1.00	Officer Director	$0	$0	$0
PAR SAHOTA	VICE CHAIR	1.00	Officer Director	$0	$0	$0
STACEY HEACOCK WEEKS	IMMEDIATE PAST CHAIR	1.00	Officer Director	$0	$0	$0
MICHAEL WORKMAN	GENERAL COUNSEL	1.00	Director	$0	$0	$0
LEON BATTLE	DIRECTOR	1.00	Director	$0	$0	$0
BRANDON CLARK	DIRECTOR	1.00	Director	$0	$0	$0
BEATRICE DELA PENA	DIRECTOR	1.00	Director	$0	$0	$0
FREDERICK HEID	DIRECTOR	1.00	Director	$0	$0	$0
MIKE HICKMAN	DIRECTOR	1.00	Director	$0	$0	$0
JASON HIRSBRUNNER	DIRECTOR	1.00	Director	$0	$0	$0
DANA HURLEY	DIRECTOR	1.00	Director	$0	$0	$0
ANNE KERR	DIRECTOR	1.00	Director	$0	$0	$0
ILEANA KNISS	DIRECTOR	1.00	Director	$0	$0	$0
DAWN LYONS	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT MACDONALD	DIRECTOR	1.00	Director	$0	$0	$0
ALISHA MARTIN	DIRECTOR	1.00	Director	$0	$0	$0
ROB MCCOLLUM	DIRECTOR	1.00	Director	$0	$0	$0
DOUG MCPHERSON	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG MORBY	DIRECTOR	1.00	Director	$0	$0	$0
BILL MUTZ	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL RISKIN	DIRECTOR	1.00	Director	$0	$0	$0
EMILY ROGERS	DIRECTOR	1.00	Director	$0	$0	$0
MEGAN RUSCELLO	DIRECTOR	1.00	Director	$0	$0	$0
SHAWN SHERROUSE	DIRECTOR	1.00	Director	$0	$0	$0
LAUREN RALSTON SMITH	DIRECTOR	1.00	Director	$0	$0	$0
SALLIE STONE	DIRECTOR	1.00	Director	$0	$0	$0
GRACE TROISE	DIRECTOR	1.00	Director	$0	$0	$0
SARAH VESPA	DIRECTOR	1.00	Director	$0	$0	$0
STACY WILLIAMS-MYERS	DIRECTOR	1.00	Director	$0	$0	$0
GREGORY SANOBA	DIRECTOR	1.00	Director	$0	$0	$0
AMY WIGGINS	PRESIDENT & CEO	1.00	Officer	$113,180	$0	$113,180

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	No data	No data	No data	No data
2023	$909,094	$1,113,579	$1,028,805	$-204,485
2022	$1,247,070	$1,249,884	$1,210,090	$-2,814
2021	$1,565,095	$1,107,532	$1,286,160	$457,563
2020	$1,256,845	$1,052,842	$902,435	$204,003
2019	$1,474,483	$1,470,000	$526,697	$4,483
2018	$1,330,547	$1,336,494	$547,242	$-5,947

LAKELAND AREA CHAMBER OF COMMERCE INC