CEDAR CITY 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

Principal Officer

CHRIS MCCORMICK

Phone

4355864484

Tax Period

2023-01-01 to 2023-12-31

CEDAR CITY AREA CHAMBER OF COMMERCE is a small nonprofit that reported $307K in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $414K exceeded revenue, resulting in a 35% operating deficit.

Mission

TO ELEVATE BUSINESS PROSPERITY AND ENCOURAGE HEALTHY COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $401,015 Revenue: $306,110

THE CEDAR CITY AREA CHAMBER OF COMMERCE HOSTS SEVERAL EVENTS EACH YEAR. THE PURPOSE OF EACH EVENT VARIES; HOWEVER, THE PRIMARY PURPOSE IS TO BRING PEOPLE TOGETHER SO THEY CAN BUILD RELATIONSHIPS &...

THE CEDAR CITY AREA CHAMBER OF COMMERCE HOSTS SEVERAL EVENTS EACH YEAR. THE PURPOSE OF EACH EVENT VARIES; HOWEVER, THE PRIMARY PURPOSE IS TO BRING PEOPLE TOGETHER SO THEY CAN BUILD RELATIONSHIPS & HELP STRENGTHEN OUR COMMUNITY.

Program 2

Revenue: $727

MONTHLY LUNCHEONS ALONG WITH OTHER TRAINING OPPORTUNITIES ARE PROVIDED TO HELP OUR MEMBERS DEVELOP SKILLS AND INCREASE THEIR KNOWLEDGE REGARDING VARIOUS ASPECTS OF CONDUCTING BUSINESS. WE WORK...

MONTHLY LUNCHEONS ALONG WITH OTHER TRAINING OPPORTUNITIES ARE PROVIDED TO HELP OUR MEMBERS DEVELOP SKILLS AND INCREASE THEIR KNOWLEDGE REGARDING VARIOUS ASPECTS OF CONDUCTING BUSINESS. WE WORK CLOSELY WITH THE BUSINESS RESOURCE CENTER, THE SMALL BUSINESS DEVELOPMENT CENTER, WOMEN'S BUSINESS CENTER OF UTAH, SOUTHWEST TECHNICAL COLLEGE, SOUTHERN UTAH UNIVERSITY, AND OTHER ORGANIZATIONS TO PROVIDE RELEVANT INSTRUCTION.

Program 3

A 30 YEAR STRATEGIC VISION AIMED AT HELPING TO MAP OUT THE FUTURE TO ENSURE A HEALTHY & DIVERSIFIED ECONOMY. THIS WAS ACCOMPLISHED BY BRINGING TOGETHER CITY, COUNTY, STATE, & FEDERAL PARTNERS ALONG WITH BUSINESS OWNERS, NON-PROFIT ORGANIZATIONS, K-12 AND HIGHER EDUCATION, AND THE GENERAL PUBLIC.

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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 $201,223

Investment Income $11

Other Revenue $105,603

TOTAL REVENUE $306,837

Expense Breakdown

Grants Paid $0

Salaries & Benefits $190,422

Fundraising Expenses $0

Program Expenses $401,015

Other Expenses $223,515

TOTAL EXPENSES $413,937

Year-over-Year Comparison

	2023	2022	Change
Revenue	$306,837	$452,898	-0.3%
Expenses	$413,937	$707,997	-0.4%
Net Income	$-107,100	$-255,099	-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

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

$93,092

Total Directors