Palm Bay Area Chamber of Commerce Inc

EIN: 592991587

Palm Bay, FL

Total Revenue
$659,094
Total Expenses
$532,711
Total Assets
$508,326
Net Assets
$506,581
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
FL
Principal Officer
Nancy Peltonen
Phone
3219519998
Tax Period
2024-01-01 to 2024-12-31

Palm Bay Area Chamber of Commerce Inc, founded in 1989, is a small nonprofit that reported $659K in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $126K, a strong 19% operating margin.

Mission

To advance the general welfare and prosperity of the area so that its citizens and all areas of its business community shall prosper. All necessary means of promotion shall be provided with emphasis on the economic, civil, commercial, and educational interests of the area.

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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 (2024)

Revenue Breakdown

Contributions & Grants $642,046
Program Service Revenue $4,177
Investment Income $12,871
Other Revenue $0
TOTAL REVENUE $659,094

Expense Breakdown

Grants Paid $0
Salaries & Benefits $338,623
Fundraising Expenses $116,289
Program Expenses $284,475
Other Expenses $194,088
TOTAL EXPENSES $532,711

Year-over-Year Comparison

2024 2023 Change
Revenue $659,094 $520,310 +0.3%
Expenses $532,711 $422,993 +0.3%
Net Income $126,383 $97,317 +0.3%
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

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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
22
Independent Members
N/A
Employees
7
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
5
$108,765
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Nancy Peltonen President 40.00
Officer
$96,838 $11,927 $108,765
Shelley Kuhn Vice Chair 1.00
Director
$0 $0 $0
Holly Tanner Immediate Past Chairwoman 1.00
Director
$0 $0 $0
Diana Miskow Board Member 1.00
Director
$0 $0 $0
Joanne Stanley Vice Chair 1.00
Director
$0 $0 $0
Joe Rowlette Board Member 1.00
Director
$0 $0 $0
Clinton Hatcher Board Member 1.00
Director
$0 $0 $0
Jason Kolleda Board Member 1.00
Director
$0 $0 $0
Tom Graver Board Member 1.00
Director
$0 $0 $0
Shannon Procise Board Member 1.00
Director
$0 $0 $0
Sean Williams Vice Chair 1.00
Director
$0 $0 $0
Greg Quinones Board Member 1.00
Director
$0 $0 $0
Christie Lynes Board Member 1.00
Director
$0 $0 $0
Lisa Bolinger Board Member 1.00
Director
$0 $0 $0
Cinthia Kettering Board Member 1.00
Director
$0 $0 $0
Matt Passarella Board Member 1.00
Director
$0 $0 $0
Rob Salonen Ex Officio 1.00
Director
$0 $0 $0
Michele Murrell Ex Officio 1.00
Director
$0 $0 $0
David Jones Chairman 4.00
Officer
$0 $0 $0
Chari Rigby Incoming Chairwoman 4.00
Officer
$0 $0 $0
Lakesha Burr Secretary 4.00
Officer
$0 $0 $0
David Africano Treasurer 4.00
Officer
$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 $659,094 $532,711 $508,326 $126,383
2023 $520,310 $422,993 $385,197 $97,317
2022 $313,096 $299,615 $283,309 $13,481
2021 $386,569 $300,619 $271,485 $85,950
2020 $259,825 $215,755 $183,766 $44,070
2019 $268,096 $237,107 $139,380 $30,989
2018 $262,951 $230,031 $109,760 $32,920
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