GALVESTON REGIONAL CHAMBER OF COMMERCE (EIN 740637580) - Form 990 Financial Analysis & Trantor Score

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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

1965

Legal Domicile

Principal Officer

GINA SPAGNOLA

Phone

4097635326

Tax Period

2023-01-01 to 2023-12-31

GALVESTON REGIONAL CHAMBER OF COMMERCE, founded in 1965, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $923K left a modest 14% surplus.

Mission

TO PROMOTE AND ADVOCATE FOR BUSINESS

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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 $0

Program Service Revenue $611,392

Investment Income $8,725

Other Revenue $457,868

TOTAL REVENUE $1,077,985

Expense Breakdown

Grants Paid $0

Salaries & Benefits $710,853

Fundraising Expenses $132,171

Program Expenses $489,126

Other Expenses $211,711

TOTAL EXPENSES $922,564

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,077,985	$1,199,163	-0.1%
Expenses	$922,564	$940,667	0.0%
Net Income	$155,421	$258,496	-0.4%

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

$200,129

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRED RASCHKE	AT LARGE	1.00	Officer	$0	$0	$0
CBBIXRATHBURN	AT LARGE	1.00	Officer	$0	$0	$0
THERESA ELLIOT	AT LARGE	1.00	Officer	$0	$0	$0
VIC PIERSON	AT LARGE	1.00	Officer	$0	$0	$0
MAUREEN PATTON	TREASURER	1.00	Officer	$0	$0	$0
GINA SPANGOLA	PRESIDENT AND CEO	40.00	Officer	$195,120	$5,009	$200,129
HOWIE BENTLEY	AT LARGE	1.00	Officer	$0	$0	$0
TERRILYN TARLTON-SHANNON	AT LARGE	1.00	Officer	$0	$0	$0
JAY CARNES	PAST CHAIR	1.00	Officer	$0	$0	$0
STEVE CONNER	CHAIR	1.00	Officer	$0	$0	$0
KEITH BASSETT	CHAIR ELECT	1.00	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	$1,077,985	$922,564	$1,098,807	$155,421
2022	$1,199,163	$940,667	$898,479	$258,496
2021	$1,100,595	$873,050	$688,188	$227,545
2020	$860,478	$770,933	$294,617	$89,545
2019	$828,209	$744,559	$306,949	$83,650
2018	$760,827	$714,528	$213,162	$46,299

GALVESTON REGIONAL CHAMBER OF COMMERCE