MOBILE AREA CHAMBER OF COMMERCE FO… - 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

1978

Legal Domicile

Principal Officer

MICHI LUNCEFORD

Phone

2514318624

Tax Period

2023-01-01 to 2023-12-31

MOBILE AREA CHAMBER OF COMMERCE FOUNDATION INC, founded in 1978, is a community nonprofit in the Community Improvement sector that reported $1.8M in total revenue in fiscal year 2023. Revenue fell 38% from the prior year — a significant decline worth monitoring. Expenses of $9.0M exceeded revenue, resulting in a 399% operating deficit.

Mission

TO CARRY OUT CHARITABLE ACTIVITIES FOR THE BENEFIT OF THE COMMUNITY AND ITS CITIZENS, WORKING WITH THE MOBILE AREA CHAMBER OF COMMERCE.

Program Service Accomplishments

Program 1

Expenses: $8,270,435 Revenue: $243,800

CITY OF MOBILE AND MOBILE COUNTY ECONOMIC DEVELOPMENT PERFORMANCE CONTRACT - TO HELP COMPANIES AND CONSULTANTS EVALUATE THE MOBILE AREA FOR BUSINESS RELOCATION

Program 2

Expenses: $667,732

OTHER PROGRAM SCHOLARSHIPS

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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 $1,552,608

Program Service Revenue $269,842

Investment Income $-25,191

Other Revenue $13,189

TOTAL REVENUE $1,810,448

Expense Breakdown

Grants Paid $8,172,955

Salaries & Benefits $94,669

Fundraising Expenses $0

Program Expenses $8,938,167

Other Expenses $761,574

TOTAL EXPENSES $9,029,198

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,810,448	$2,902,918	-0.4%
Expenses	$9,029,198	$2,355,597	+2.8%
Net Income	$-7,218,750	$547,321	-14.2%

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

N/A

Volunteers

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

$567,426

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES F WATKINS	LEGAL COUNSEL	1.00	Director	$0	$0	$0
BRENT BARKIN	DIRECTOR	1.00	Director	$0	$0	$0
CLIFTON INGE	DIRECTOR	1.00	Director	$0	$0	$0
T BRAGG VAN ANTWERP JR	DIRECTOR	1.00	Director	$0	$0	$0
MARK NIX	DIRECTOR	1.00	Director	$0	$0	$0
LOWELL J FRIEDMAN	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS LEE	DIRECTOR	1.00	Director	$0	$0	$0
LIZ FREEMAN	DIRECTOR	1.00	Director	$0	$0	$0
SYDNEY RAINE	DIRECTOR	1.00	Director	$0	$0	$0
FRANK J LOTT III	CHAIRMAN	1.00	Officer	$0	$0	$0
G ROBERT BAKER JR	VICE PRESIDENT/SECRETARY	1.00	Officer	$0	$0	$0
BRADLEY BYRNE	PRESIDENT	40.00	Officer	$0	$14,991	$388,991
MICHI LUNCEFORD	TREASURER	40.00	Officer	$0	$6,961	$72,150
NEIL CHRISTOPHER	TREASURER	40.00	Officer	$0	$12,221	$106,285

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	$1,810,448	$9,029,198	$3,110,765	$-7,218,750
2022	$2,902,918	$2,355,597	$10,999,610	$547,321
2020	$3,266,499	$1,860,382	$10,733,558	$1,406,117
2019	$3,504,549	$1,512,142	$9,452,951	$1,992,407
2018	$2,322,060	$1,737,891	$5,449,983	$584,169

MOBILE AREA CHAMBER OF COMMERCE FOUNDATION INC