CHAMBER OF COMMERCE SYLACAUGA

EIN: 630205572

SYLACAUGA, AL

Total Revenue
$397,623
Total Expenses
$384,207
Total Assets
$223,626
Net Assets
$204,802
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1939
Legal Domicile
AL
Principal Officer
LAURA STRICKLAND
Phone
2052490308
Tax Period
2023-01-01 to 2023-12-31

CHAMBER OF COMMERCE SYLACAUGA, founded in 1939, is a small nonprofit that reported $398K in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $384K left a modest 3% surplus.

Mission

TO PROVIDE LEADERSHIP AND PROMOTE THE ECONOMIC ADVANCEMENT, BUSINESS CLIMATE, AND QUALITY OF LIFE FOR THE CITY OF SYLACAUGA AND ITS CITIZENS. THE CHAMBER OF COMMERCE EXISTS TO GIVE PEOPLE A STRONG AND EFFECTIVE VOICE TO PEOPLE WORKING TOWARD COMMON GOALS.

Program Service Accomplishments

Program 1

ADVERTISING AND PUBLIC RELATIONS IS SHOWN BY CREATING THE SYLACAUGA MAGAZINE WHICH IS THE OFFICAL MAGAZINE OF SYLACAUGA AND THE CHAMBER OF COMMERCE. LUNCH AND LEARNS ARE ALSO PUT ON THE CHAMBER TO...

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ADVERTISING AND PUBLIC RELATIONS IS SHOWN BY CREATING THE SYLACAUGA MAGAZINE WHICH IS THE OFFICAL MAGAZINE OF SYLACAUGA AND THE CHAMBER OF COMMERCE. LUNCH AND LEARNS ARE ALSO PUT ON THE CHAMBER TO BRING THE COMMUNITY TOGETHER. THE CHAMBER ALSO HOSTS LEADERSHIP SYLACAUGA, WHICH IS A 10 MONTH LEADERSHIP TRAINING PROGRAM DESIGNED TO INFORM, INSPIRE AND EMPOWER COMMUNITY LEADERS. THE COMPREHENSIVE CLASSES PROVIDE EMERGING LEADERS WITH A BROADER UNDERSTANDING AND HEIGHTENED AWARENESS OF THE PROBLEMS, OPPORTUNITIES, AND RESOURCES IN OUR AREA. RIBBON CUTTINGS NEW BUSINESSES, EXPANSIONS, NEW LOCATIONS, AND MAJOR REMODELS ARE WELCOME TO A RIBBON CUTTING HOSTED BY THE SYLACAUGA CHAMBER. PROFESSIONAL DEVELOPMENT VARIOUS WORKSHOPS ARE OFFERED THROUGHOUT THE YEAR FOCUSED ON PERTINENT BUSINESS RELATED TOPICS WITH A FOCUS ON ALL AREAS OF BUSINESS GROWTH AND PRODUCTIVITY INCLUDING MARKETING, HUMAN RESOURCE, FINANCIAL, AND LEADERSHIP. SYLACAUGA YOUNG PROFESSIONALS SYP IS AN ORGANIZATION FOR PEOPLE LIVING AND/OR WORKING IN SYLACAUGA. SYP PROVIDES OPPORTUNITIES TO GET INVOLVED, BE ACTIVE, AND NETWORK.

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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 (2023)

Revenue Breakdown

Contributions & Grants $251,529
Program Service Revenue $132,327
Investment Income $572
Other Revenue $13,195
TOTAL REVENUE $397,623

Expense Breakdown

Grants Paid $0
Salaries & Benefits $137,724
Fundraising Expenses $0
Other Expenses $246,483
TOTAL EXPENSES $384,207

Year-over-Year Comparison

2023 2022 Change
Revenue $397,623 $311,342 +0.3%
Expenses $384,207 $328,704 +0.2%
Net Income $13,416 $-17,362 -1.8%
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

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Governance

Voting Members
22
Independent Members
N/A
Employees
3
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
$72,800
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LAURA STRICKLAND EXECUTIVE DI 40.00
Officer
$70,957 $1,843 $72,800
RYAN COLEMAN PAST CHAIR N/A
Officer
$0 $0 $0
DONNA JONES PAST CHAIR N/A
Officer
$0 $0 $0
GRETTA SPENCER VP N/A
Officer
$0 $0 $0
KIMM WRIGHT PRESIDENT N/A
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 No data No data No data No data
2023 $397,623 $384,207 $223,626 $13,416
2022 No data No data No data No data
2021 $274,002 $280,911 $238,393 $-6,909
2020 $247,206 $226,503 $226,830 $20,703
2019 $231,409 $227,674 $196,403 $3,735
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