CHAMBER OF COMMERCE OF HUNTSVILLE … - 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

1894

Legal Domicile

Principal Officer

CHIP CHERRY

Phone

2565352014

Tax Period

2023-01-01 to 2023-12-31

CHAMBER OF COMMERCE OF HUNTSVILLE MADISON COUNTY INC, founded in 1894, is a community nonprofit that reported $6.3M in total revenue in fiscal year 2023. Expenses of $6.0M left a modest 5% surplus.

Mission

PROMOTION AND DEVELOPMENT OF CIVIC AND ECONOMIC INTERESTS

Program Service Accomplishments

Program 1

Expenses: $4,934,053

THE CHAMBER PROVIDED TRAINING, NETWORKING, COMMUNITY AWARENESS, AND PROMOTION TO ITS 2,086 MEMBERS AND THE COMMUNITY AT LARGE. NEW AND EXPANDED COMPANIES RESULTED IN 580 NEW JOBS. THE ANNOUNCED...

THE CHAMBER PROVIDED TRAINING, NETWORKING, COMMUNITY AWARENESS, AND PROMOTION TO ITS 2,086 MEMBERS AND THE COMMUNITY AT LARGE. NEW AND EXPANDED COMPANIES RESULTED IN 580 NEW JOBS. THE ANNOUNCED CAPITAL INVESTMENT WAS $391 MILLION. THE CHAMBER PROVIDED MORE THAN 35 PROFESSIONAL DEVELOPMENT WORKSHOPS AND HAD MORE THAN 82 RIBBON CUTTINGS AND 6 GROUNDBREAKINGS.

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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 $2,741,272

Program Service Revenue $3,137,818

Investment Income $24,632

Other Revenue $347,310

TOTAL REVENUE $6,251,032

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,825,265

Fundraising Expenses $102,269

Program Expenses $4,934,053

Other Expenses $3,135,685

TOTAL EXPENSES $5,960,950

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,251,032	$5,870,991	+0.1%
Expenses	$5,960,950	$5,862,505	+0.0%
Net Income	$290,082	$8,486	+33.2%

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

$388,884

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TED BAUDENDISTEL	DIRECTOR	1.00	Director	$0	$0	$0
DAVID BIER	DIRECTOR	1.00	Director	$0	$0	$0
PENNY BILLINGS	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS BUSBY	DIRECTOR	1.00	Director	$0	$0	$0
KATIE COMER	DIRECTOR	1.00	Director	$0	$0	$0
TOM CONARD	DIRECTOR	1.00	Director	$0	$0	$0
BRETT CRAIN	DIRECTOR	1.00	Director	$0	$0	$0
DR PATTI DARE	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA DAVIS	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN FERNANDEZ	DIRECTOR	1.00	Director	$0	$0	$0
OWEN FRANKLIN	DIRECTOR	1.00	Director	$0	$0	$0
JONI GREEN	DIRECTOR	1.00	Director	$0	$0	$0
GINGER HARPER	DIRECTOR	1.00	Director	$0	$0	$0
JOSH HERREN	DIRECTOR	1.00	Director	$0	$0	$0
JAN HESS	DIRECTOR	1.00	Director	$0	$0	$0
LEE HOLLAND	DIRECTOR	1.00	Director	$0	$0	$0
THARON HONEYCUTT	DIRECTOR	1.00	Director	$0	$0	$0
LAURA HUCKABEE-JENNINGS	DIRECTOR	1.00	Director	$0	$0	$0
LINCOLN HUDSON	DIRECTOR	1.00	Director	$0	$0	$0
TYCE HUDSON	DIRECTOR	1.00	Director	$0	$0	$0
HANK ISENBERG	DIRECTOR	1.00	Director	$0	$0	$0
CLINT KIRKLAND	DIRECTOR	1.00	Director	$0	$0	$0
RICH KRETZSCHMAR	DIRECTOR	1.00	Director	$0	$0	$0
TODD MAY	DIRECTOR	1.00	Director	$0	$0	$0
BOB MCCALEB	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG NAUDAIN	DIRECTOR	1.00	Director	$0	$0	$0
NADIA NIAKOSSARY	DIRECTOR	1.00	Director	$0	$0	$0
ALANA PARKER	DIRECTOR	1.00	Director	$0	$0	$0
MEREDITH PAYNE	DIRECTOR	1.00	Director	$0	$0	$0
ZACK PENNEY	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS RUSSELL	DIRECTOR	1.00	Director	$0	$0	$0
ALICIA RYAN	DIRECTOR	1.00	Director	$0	$0	$0
BETH SIPPEL	DIRECTOR	1.00	Director	$0	$0	$0
WAYNE SISCO	DIRECTOR	1.00	Director	$0	$0	$0
TOM STANTON	DIRECTOR	1.00	Director	$0	$0	$0
SANDRA STEPHENS	DIRECTOR	1.00	Director	$0	$0	$0
MITCH STEVISON	DIRECTOR	1.00	Director	$0	$0	$0
NILMINI THOMPSON	DIRECTOR	1.00	Director	$0	$0	$0
MARK VAPORIS	DIRECTOR	1.00	Director	$0	$0	$0
MIKE WATKINS	DIRECTOR	1.00	Director	$0	$0	$0
JOHN WATSON	DIRECTOR	1.00	Director	$0	$0	$0
GREG BROWN	BOARD CHAIR	1.00	Officer	$0	$0	$0
LYNN TROY	CHAIR ELECT	1.00	Officer	$0	$0	$0
JEFF GRONBERG	IMMEDIATE PAST CHAIR	1.00	Officer	$0	$0	$0
RON POTEAT	FOUNDATION CHAIR	1.00	Officer	$0	$0	$0
JEFF SAMZ	SECRETARY/TREASURER	1.00	Officer	$0	$0	$0
MICHELLE JORDAN	VICE CHAIR	1.00	Officer	$0	$0	$0
SAMEER SINGHAL	VICE CHAIR	1.00	Officer	$0	$0	$0
RONNIE CHRONISTER	VICE CHAIR	1.00	Officer	$0	$0	$0
DR KAROCKAS WATKINS	VICE CHAIR	1.00	Officer	$0	$0	$0
BLAKE BENTLEY	VICE CHAIR	1.00	Officer	$0	$0	$0
JIM ROGERS	VICE CHAIR	1.00	Officer	$0	$0	$0
JOE RITCH	VICE CHAIR	1.00	Officer	$0	$0	$0
JAMIE PEYTON	VICE CHAIR	1.00	Officer	$0	$0	$0
SEAN KELLY	CHAIR-APPOINTED	1.00	Officer	$0	$0	$0
JASON PUCKET	CHAIR-APPOINTED	1.00	Officer	$0	$0	$0
FRANK WILLIAMS	CHAIR-APPOINTED	1.00	Officer	$0	$0	$0
TOMMY BATTLE	EX-OFFICIO MEMBER	1.00	Officer	$0	$0	$0
PAUL FINLEY	EX-OFFICIO MEMBER	1.00	Officer	$0	$0	$0
DALE STRONG	EX-OFFICIO MEMBER	1.00	Officer	$0	$0	$0
CHIP CHERRY	PRESIDENT & CEO	40.00	Key Emp	$327,731	$61,153	$388,884
ERIN KOSHUT	EMPLOYEE	40.00	Highest	$117,482	$891	$118,373
LUCIA CAPE	EMPLOYEE	40.00	Highest	$163,501	$26,681	$190,182
MICHAEL WARD	EMPLOYEE	40.00	Highest	$124,263	$1,125	$125,388
MARY MCNAIRY	EMPLOYEE	40.00	Highest	$109,237	$1,732	$110,969

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	$6,251,032	$5,960,950	$6,343,164	$290,082
2022	$5,870,991	$5,862,505	$6,396,999	$8,486
2021	$4,392,639	$4,364,309	$6,204,851	$28,330
2020	$4,116,161	$4,151,876	$6,242,371	$-35,715
2019	$5,143,318	$5,049,943	$6,090,775	$93,375
2018	$4,805,714	$4,863,296	$5,896,842	$-57,582

CHAMBER OF COMMERCE OF HUNTSVILLE MADISON COUNTY INC