MCKINNEY 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

1914

Legal Domicile

Principal Officer

LISA M HERMES

Phone

9725420163

Tax Period

2024-01-01 to 2024-12-31

MCKINNEY CHAMBER OF COMMERCE, founded in 1914, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2024.

Mission

TO LEAD, CONNECT AND EMPOWER OUR STAKEHOLDERS TO ADVANCE BUSINESS AND COMMUNITY EXCELLENCE.

Program Service Accomplishments

Program 1

PROMOTE TOURISM, BUSINESS RETENTION AND EXPANSION, NETWORKING AND LEADERSHIP DEVELOPMENT.

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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 $864,699

Program Service Revenue $361,870

Investment Income $18,491

Other Revenue $85,348

TOTAL REVENUE $1,330,408

Expense Breakdown

Grants Paid $0

Salaries & Benefits $756,196

Fundraising Expenses $0

Other Expenses $639,730

TOTAL EXPENSES $1,395,926

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,330,408	$1,242,842	+0.1%
Expenses	$1,395,926	$1,403,357	0.0%
Net Income	$-65,518	$-160,515	-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

$319,937

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LISA M HERMES	President	40.00	Officer	$156,099	$12,525	$168,624
LINDA IMAI-DIXON	FIN/ADM DIR	40.00	Officer	$139,602	$11,711	$151,313
GONZALO SERRANO	Director	1.00	Director	$0	$0	$0
JUDSON DUNCAN	Director	1.00	Director	$0	$0	$0
MARVIN MCHELLON	Director	1.00	Director	$0	$0	$0
JAMES CRAIG	IMM PAST CHAIR	1.00	Officer Director	$0	$0	$0
WHITNEY NASH	Treasurer	1.00	Officer Director	$0	$0	$0
JOCELYN WILLIAMS	Director	1.00	Director	$0	$0	$0
SCOTT WOODRUFF	Director	1.00	Director	$0	$0	$0
LISA HAMMETT	Director	1.00	Director	$0	$0	$0
TIM BOWEN	Director	1.00	Director	$0	$0	$0
JOE RICCARDI	Director	1.00	Director	$0	$0	$0
MELISSA SIMMONS	Director	1.00	Director	$0	$0	$0
DONNA WOOD	Chairman	1.00	Officer Director	$0	$0	$0
DARRELL BARNES	Director	1.00	Director	$0	$0	$0
HAROLD MCLEOD	CHAIR ELECT	1.00	Officer Director	$0	$0	$0
BRANDON HERBISON	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	$1,330,408	$1,395,926	$1,638,989	$-65,518
2023	$1,242,842	$1,403,357	$1,726,002	$-160,515
2022	$1,419,569	$1,414,969	$1,922,518	$4,600
2021	$1,538,880	$1,330,144	$1,216,918	$208,736
2020	$1,037,117	$1,021,438	$928,200	$15,679
2019	$1,178,970	$1,177,142	$948,312	$1,828
2018	$1,133,155	$1,123,051	$940,799	$10,104