HEARNE CHAMBER OF COMMERCE

EIN: 740676120

HEARNE, TX

Total Revenue
$134,787
Total Expenses
$105,046
Total Assets
$101,209
Net Assets
$100,524
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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
1946
Legal Domicile
TX
Principal Officer
MARGARET SALVAGGIO
Phone
9795958150
Tax Period
2023-01-01 to 2023-12-31

HEARNE CHAMBER OF COMMERCE, founded in 1946, is a small nonprofit that reported $135K in total revenue in fiscal year 2023. Revenue surged 54% from the prior year, signaling strong growth momentum. The organization ran a surplus of $30K, a strong 22% operating margin.

Mission

THE MISSION OF THE HEARNE CHAMBER OF COMMERCE IS TO PROMOTE AND IMPROVE THE BUSINESS ENVIRONMENT, PROMOTE TOURISM, STIMULATE A VIBRANT LOCAL ECONOMY AND PRODUCE A COOPERATIVE EFFORE TO ENHANCE THE OVERALL QUALITY OF LIFE IN HEARNE TO ITS HIGHEST POTENTIAL.

Program Service Accomplishments

Program 1
Expenses: $99,583

PROMOTE CIVIC, COMMERCIAL AND INDUSTRIAL DEVELOPMENT OF LOCAL COMMUNITY BY PROVIDING INFORMATION AND ASSISTANCE. PROMOTES LOCAL TOURISM BY SPONSORING FESTIVALS AND PROVIDING BROCHURES

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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 $99,372
Program Service Revenue $35,328
Investment Income $87
Other Revenue $0
TOTAL REVENUE $134,787

Expense Breakdown

Grants Paid $0
Salaries & Benefits $31,362
Fundraising Expenses $0
Program Expenses $99,583
Other Expenses $73,684
TOTAL EXPENSES $105,046

Year-over-Year Comparison

2023 2022 Change
Revenue $134,787 $87,542 +0.5%
Expenses $105,046 $115,821 -0.1%
Net Income $29,741 $-28,279 -2.1%
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

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Governance

Voting Members
10
Independent Members
10
Employees
1
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
10
$31,362
Total Directors
10
$31,362
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FONDELL ADAMS PRESIDENT 1.00
Officer Director
$0 $0 $0
JESSIE CIENEGA SECRETARY 1.00
Officer Director
$0 $0 $0
TIM CHARRON VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
QUINTON SAMUELS DIRECTOR 1.00
Officer Director
$0 $0 $0
DANIEL GREEN DIRECTOR 1.00
Officer Director
$0 $0 $0
BRANDON CORN DIRECTOR 1.00
Officer Director
$0 $0 $0
DORTHY GANDY TREASURER 1.00
Officer Director
$0 $0 $0
DANA ALTIMORE DIRECTOR 1.00
Officer Director
$0 $0 $0
MARC CATALINA DIRECTOR 1.00
Officer Director
$0 $0 $0
MARGARET SALVAGGIO EXECUTIVE DIRECTOR 35.00
Officer Director
$31,362 $0 $31,362
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
2023 $134,787 $105,046 $101,209 $29,741
2022 $87,542 $115,821 $73,468 $-28,279
2021 $121,857 $192,037 $103,075 $-70,180
2020 $61,232 $87,171 $173,190 $-25,939
2019 $68,166 $61,701 $197,931 $6,465
2018 $84,026 $112,481 $192,320 $-28,455
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