Albany Black Chamber of Commerce

EIN: 881929273

Albany, NY

Total Revenue
$428,810
Total Expenses
$464,245
Total Assets
$28,535
Net Assets
$-15,021
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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
2022
Legal Domicile
NY
Phone
5189907265
Tax Period
2024-01-01 to 2024-12-31

Albany Black Chamber of Commerce, founded in 2022, is a small nonprofit that reported $429K in total revenue in fiscal year 2024. Revenue surged 75% from the prior year, signaling strong growth momentum.

Mission

ENCOURAGE THE DEVELOPMENT, PROMOTION, AND GROWTH OF BLACK AND MINORITY-OWNED BUSINESSES IN THE GREATER CAPITAL REGION.

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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 (2024)

Revenue Breakdown

Contributions & Grants $345,840
Program Service Revenue $82,970
Investment Income $0
Other Revenue $0
TOTAL REVENUE $428,810

Expense Breakdown

Grants Paid $0
Salaries & Benefits $216,865
Fundraising Expenses $0
Other Expenses $247,380
TOTAL EXPENSES $464,245

Year-over-Year Comparison

2024 2023 Change
Revenue $428,810 $244,650 +0.8%
Expenses $464,245 $315,547 +0.5%
Net Income $-35,435 $-70,897 -0.5%
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
3
Independent Members
3
Employees
2
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
0
$0
Total Directors
12
$80,000
Key Employees
1
$80,000
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Deshanna Wiggins Executive Director 40.00
Director Key Emp Highest
$80,000 $0 $80,000
Jahkeen Hoke Treasurer 5.00
Director
$0 $0 $0
Corey Ellis Trustee 5.00
Director
$0 $0 $0
Walter Porter Chair 5.00
Director
$0 $0 $0
James Sanders Vice Chair 5.00
Director
$0 $0 $0
Natisha Alexander Trustee 5.00
Director
$0 $0 $0
Robert Nichols Trustee 5.00
Director
$0 $0 $0
Rick Ostroff Trustee 5.00
Director
$0 $0 $0
Tamika Otis Trustee 5.00
Director
$0 $0 $0
Obar Robinson Trustee 5.00
Director
$0 $0 $0
Elton Tune Trustee 5.00
Director
$0 $0 $0
Kizzy Williams Trustee 5.00
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 $428,810 $464,245 $28,535 $-35,435
2023 $244,650 $315,547 $39,488 $-70,897
2022 $200,050 $108,739 $91,311 $91,311
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