LONGMONT AREA 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

1986

Legal Domicile

Principal Officer

SCOTT COOK

Phone

3037765295

Tax Period

2023-01-01 to 2023-12-31

LONGMONT AREA CHAMBER OF COMMERCE, founded in 1986, is a small nonprofit that reported $630K in total revenue in fiscal year 2023. Expenses of $707K exceeded revenue, resulting in a 12% operating deficit.

Mission

TO PROMOTE BUSINESS AND INDUSTRY IN THE LONGMONT AREA.

Program Service Accomplishments

Program 1

PROMOTED BUSINESS AND INDUSTRY IN THE LONGMONT AREA THROUGH NETWORKING EVENTS, FOCUSED COMMITTEES, AND EDUCATIONAL PROGRAMS.

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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 $555,910

Investment Income $56,451

Other Revenue $17,347

TOTAL REVENUE $629,708

Expense Breakdown

Grants Paid $0

Salaries & Benefits $406,789

Fundraising Expenses $0

Other Expenses $300,304

TOTAL EXPENSES $707,093

Year-over-Year Comparison

	2023	2022	Change
Revenue	$629,708	$631,847	0.0%
Expenses	$707,093	$649,457	+0.1%
Net Income	$-77,385	$-17,610	+3.4%

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

100

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

$80,139

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID HUMENIK	CHAIR	2.00	Officer Director	$0	$0	$0
VALERIE DODD	SECRETARY	2.00	Officer Director	$0	$0	$0
THAXTER WILLIAMS	TREASURER	2.00	Officer Director	$0	$0	$0
LISA HAMILTON	CHAIR-ELECT	2.00	Officer Director	$0	$0	$0
STEPHANIE KOENIG	AT-LARGE	2.00	Director	$0	$0	$0
BRIAN BERRY	DIRECTOR	2.00	Director	$0	$0	$0
MATT ELDRED	DIRECTOR	2.00	Director	$0	$0	$0
JENNIFER FERGUSON	DIRECTOR	2.00	Director	$0	$0	$0
KERRI MCDERMID	DIRECTOR	2.00	Director	$0	$0	$0
CHRIS MCGILVRAY	DIRECTOR	2.00	Director	$0	$0	$0
KEVIN PUCKETT	DIRECTOR	2.00	Director	$0	$0	$0
FRANKIE RYDER	DIRECTOR	2.00	Director	$0	$0	$0
LAURI SHROPSHIRE	DIRECTOR	2.00	Director	$0	$0	$0
DANIEL YERGER	DIRECTOR	2.00	Director	$0	$0	$0
SCOTT COOK	PRESIDENT/CEO	40.00	Officer	$80,139	$0	$80,139

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	$629,708	$707,093	$594,561	$-77,385
2022	$631,847	$649,457	$573,022	$-17,610
2021	$600,122	$533,685	$543,475	$66,437
2020	$590,501	$524,465	$500,076	$66,036
2019	$557,090	$592,785	$433,617	$-35,695
2018	$596,067	$565,343	$446,778	$30,724