HOMEWOOD 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

1940

Legal Domicile

Principal Officer

SHANNON GARTMAN

Phone

2058715631

Tax Period

2024-10-01 to 2025-09-30

HOMEWOOD CHAMBER OF COMMERCE, founded in 1940, is a small nonprofit in the Community Improvement sector that reported $228K in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year.

Mission

AN ACTIVE FORCE BENEFITING MEMBERS BY CULTIVATING BUSINESS, WORKING WITH GOVERNMENT, AND ENGAGING THE COMMUNITY.

Program Service Accomplishments

Program 1

ORGANIZE MONTHLY MEETINGS FOR BUSINESS PROFESSIONALS IN THE HOMEWOOD, ALABAMA AND SURROUNDING AREAS.

Program 2

RESPOND TO ALL INQUIRIES RELATING TO THE CITY OF HOMEWOOD, ALABAMA.

Program 3

ACT AS A FISCAL AGENT AND COORDINATOR FOR SPECIAL EVENTS, PROMOTIONS, ADVERTISING, AND PUBLIC RELATIONS AS AGREED UPON BY THE CITY OF HOMEWOOD, ALABAMA AND THE BOARD OF DIRECTORS OF THE HOMEWOOD...

ACT AS A FISCAL AGENT AND COORDINATOR FOR SPECIAL EVENTS, PROMOTIONS, ADVERTISING, AND PUBLIC RELATIONS AS AGREED UPON BY THE CITY OF HOMEWOOD, ALABAMA AND THE BOARD OF DIRECTORS OF THE HOMEWOOD CHAMBER OF COMMERCE.

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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 $2,600

Program Service Revenue $218,121

Investment Income $4,108

Other Revenue $3,586

TOTAL REVENUE $228,415

Expense Breakdown

Grants Paid $0

Salaries & Benefits $126,924

Fundraising Expenses $0

Other Expenses $102,902

TOTAL EXPENSES $229,826

Year-over-Year Comparison

	2024	2023	Change
Revenue	$228,415	$263,675	-0.1%
Expenses	$229,826	$239,632	0.0%
Net Income	$-1,411	$24,043	-1.1%

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

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

$59,357

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL MORGAN	PRESIDENT	3.00	Officer Director	$0	$0	$0
SAM GIFFIN	PRESIDENT ELECT	3.00	Officer Director	$0	$0	$0
PATRICK BARKER	SECRETARY	3.00	Officer Director	$0	$0	$0
HUGH NICKSON	IMMEDIATE PAST PRESIDENT	3.00	Officer Director	$0	$0	$0
ANNA CATHERINE ROBERSON	DIRECTOR	1.00	Director	$0	$0	$0
GLORIA GLASSCO	DIRECTOR	1.00	Director	$0	$0	$0
BRIDGETT ALDAY	DIRECTOR	1.00	Director	$0	$0	$0
ROSA HILL	DIRECTOR	1.00	Director	$0	$0	$0
BRENT GILLIS	DIRECTOR	1.00	Director	$0	$0	$0
WESLEY TEMPLETON	DIRECTOR	1.00	Director	$0	$0	$0
FLORESHA WATKINS	DIRECTOR	1.00	Director	$0	$0	$0
CARTER SCHULTZ	SAMFORD UNIVERSITY LIAISON	1.00	Director	$0	$0	$0
MCCALL HARDISON	CITY SCHOOLS LIAISON	1.00	Director	$0	$0	$0
JOHN HARDIN	CITY COUNCIL LIAISON	1.00	Director	$0	$0	$0
DAVID FAULKNER	LEGISLATIVE LIAISON	1.00	Director	$0	$0	$0
SHANNON GARTMAN	EXECUTIVE DIRECTOR	40.00	Officer	$59,357	$0	$59,357

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
2025	$228,415	$229,826	$143,549	$-1,411
2024	$263,675	$239,632	$152,755	$24,043
2023	$219,603	$233,475	$138,884	$-13,872
2022	$190,582	$232,601	$164,886	$-42,019
2021	$185,398	$179,920	$217,720	$5,478
2020	$175,262	$166,311	$216,196	$8,951
2019	$203,440	$240,315	$136,956	$-36,875
2018	$189,344	$249,204	$173,831	$-59,860