SILOAM SPRINGS 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

1930

Legal Domicile

Principal Officer

ARTHUR HULBERT

Phone

4795246466

Tax Period

2023-01-01 to 2023-12-31

SILOAM SPRINGS CHAMBER OF COMMERCE, founded in 1930, is a small nonprofit that reported $454K in total revenue in fiscal year 2023. Expenses of $429K left a modest 5% surplus.

Mission

TO PROMOTE THE CITY OF SILOAM SPRINGS IN SUCH A MANNER AS TO ATTRACT NEW BUSINESSES AND TO PROMOTE THE DEVELOPMENT OF EXISTING BUSINESSES.

Program Service Accomplishments

Program 1

DOGWOOD FESTIVAL - THIS 3-DAY EVENT ALLOWS A VENUE FOR AREA VENDORS TO SELL ARTS AND CRAFTS, FOOD AND OTHER MERCHANDISE AND ATTRACTS THOUSANDS OF PEOPLE TO SILOAM SPRINGS. THE EVENT SUPPORTS THE...

DOGWOOD FESTIVAL - THIS 3-DAY EVENT ALLOWS A VENUE FOR AREA VENDORS TO SELL ARTS AND CRAFTS, FOOD AND OTHER MERCHANDISE AND ATTRACTS THOUSANDS OF PEOPLE TO SILOAM SPRINGS. THE EVENT SUPPORTS THE BUSINESS COMMUNITY OF THE CITY THROUGH THE SALE OF GOODS AND SERVICES TO THOSE TRAVELLING TO ATTEND THE EVENT. THIS ANNUAL EVENT PROMOTES THE SCENIC BEAUTY OF SILOAM SPRINGS AS WELL AS THE BUSINESS, EDUCATIONAL AND INDUSTRIAL ASSETS THAT ARE A PART OF THE COMMUNITY.

Program 2

MEMBER SERVICES & COMMUNITY GUIDES/VISITOR PACKETS - ALLOWS FOR THE OPPORTUNITY TO PROVIDE INFORMATION ABOUT COMMUNITY EVENTS TO VISITORS AND BUSINESSES. THE ORGANIZATION OFFERS A VARIETY OF...

MEMBER SERVICES & COMMUNITY GUIDES/VISITOR PACKETS - ALLOWS FOR THE OPPORTUNITY TO PROVIDE INFORMATION ABOUT COMMUNITY EVENTS TO VISITORS AND BUSINESSES. THE ORGANIZATION OFFERS A VARIETY OF FUNCTIONS AND EVENTS THROUGHOUT THE YEAR THAT ASSIST LOCAL BUSINESS OWNERS. THE VISITOR PACKETS INCLUDE INFORMATION ON THE CITY OF SILOAM AND PRESENT CITY AND CIVIC INFORMATION TO POTENTIAL RESIDENTS.

Program 3

CHAMBER BANQUET/HONOR GRADUATE LUNCHEON/TEACHER BREAKFAST - ALLOWS FOR THE RECOGNITION OF HIGH SCHOOL STUDENTS AND TEACHERS FOR THEIR ACCOMPLISHMENTS AND SERVICE TO THE SCHOOL DISTRICT. SEVERAL...

CHAMBER BANQUET/HONOR GRADUATE LUNCHEON/TEACHER BREAKFAST - ALLOWS FOR THE RECOGNITION OF HIGH SCHOOL STUDENTS AND TEACHERS FOR THEIR ACCOMPLISHMENTS AND SERVICE TO THE SCHOOL DISTRICT. SEVERAL HUNDRED ATTENDEES ARE INVOLVED IN THESE EVENTS.

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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 $115,549

Program Service Revenue $334,562

Investment Income $3,761

Other Revenue $0

TOTAL REVENUE $453,872

Expense Breakdown

Grants Paid $0

Salaries & Benefits $230,162

Fundraising Expenses $0

Other Expenses $198,923

TOTAL EXPENSES $429,085

Year-over-Year Comparison

	2023	2022	Change
Revenue	$453,872	$439,954	+0.0%
Expenses	$429,085	$370,592	+0.2%
Net Income	$24,787	$69,362	-0.6%

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

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

$112,762

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ARTHUR HULBERT	PRESIDENT/CE	40.00	Officer	$112,762	$0	$112,762
LOUIE BOLD	DIRECTOR	1.00	Director	$0	$0	$0
PATTI EILAND	DIRECTOR	1.00	Director	$0	$0	$0
TIM ESTES	BOARD CHAIR	N/A	Director	$0	$0	$0
TAYLOR FAUGHT	DIRECTOR	1.00	Director	$0	$0	$0
PAUL GREGORY	DIRECTOR	1.00	Director	$0	$0	$0
REX HARRIS	DIRECTOR	1.00	Director	$0	$0	$0
CHERI HARRISON	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER HUGHES	DIRECTOR	1.00	Director	$0	$0	$0
TONY NAGY	DIRECTOR	1.00	Director	$0	$0	$0
BOBBY REED	DIRECTOR	1.00	Director	$0	$0	$0
JORDAN SMITHSON	DIRECTOR	1.00	Director	$0	$0	$0
RANDY TORRES	DIRECTOR	1.00	Director	$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	$453,872	$429,085	$556,750	$24,787
2022	$439,954	$370,592	$536,371	$69,362
2021	$484,258	$326,727	$607,407	$157,531
2020	$431,203	$367,574	$450,232	$63,629
2019	$413,097	$437,296	$395,777	$-24,199
2018	$426,220	$416,275	$409,453	$9,945