BALLARD 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

1927

Legal Domicile

Principal Officer

MIKE STEWART

Phone

2067849705

Tax Period

2024-01-01 to 2024-12-31

BALLARD CHAMBER OF COMMERCE, founded in 1927, is a community nonprofit that reported $2.0M in total revenue in fiscal year 2024. Revenue surged 43% from the prior year, signaling strong growth momentum. Expenses of $1.9M left a modest 6% surplus.

Mission

To promote and support local businesses and provide opportunities for community networking.

Program Service Accomplishments

Program 1

Ballard Seafood Fest, a community festival featuring foood and entertainment to help pay homage to Ballard's rich Scandinavian heritage and its maritime history.

Program 2

Holiday Fest and Holiday Lights, a community event featuring food, entertainment, holiday lights wine walk, art walk and movies in the park. Promotes family fun and shopping in Ballard during the...

Holiday Fest and Holiday Lights, a community event featuring food, entertainment, holiday lights wine walk, art walk and movies in the park. Promotes family fun and shopping in Ballard during the holidays

Program 3

The Chamber achieves its mission through the development and mplementation of critical programs that include: economic development, marketing and promotions, events and activities, public art support and critical issues engagement. Also formed implementation and clean streets program, safety ambassadors, security, clean and safe streets 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 (2024)

Revenue Breakdown

Contributions & Grants $328,070

Program Service Revenue $1,679,675

Investment Income $9,061

Other Revenue $0

TOTAL REVENUE $2,016,806

Expense Breakdown

Grants Paid $0

Salaries & Benefits $642,544

Fundraising Expenses $0

Other Expenses $1,245,888

TOTAL EXPENSES $1,888,432

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,016,806	$1,414,178	+0.4%
Expenses	$1,888,432	$1,476,352	+0.3%
Net Income	$128,374	$-62,174	-3.1%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

400

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

$196,174

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DIANA NARAMORE	DIRECTOR	1.00	Director	$0	$0	$0
DIANE MACRAE	DIRECTOR	1.00	Director	$0	$0	$0
EMILY MABUS	DIRECTOR	1.00	Director	$0	$0	$0
ERIC STOLL	DIRECTOR	1.00	Director	$0	$0	$0
EVAN MONEZ	DIRECTOR	1.00	Director	$0	$0	$0
GRETCHEN SWANSON	TREASURER AND DIRECTOR	2.00	Officer Director	$0	$0	$0
KRISTIE KISBYE	CO-PRESIDENT AND DIRECTOR	2.00	Officer Director	$0	$0	$0
LEGH BURNS	DIRECTOR	1.00	Director	$0	$0	$0
MAGGIE MCKELVY	CO-PRESIDENT AND DIRECTOR	2.00	Officer Director	$0	$0	$0
RAMONA ABBASIAN	DIRECTOR	1.00	Director	$0	$0	$0
ROGER LORENZE	V.P. AND DIRECTOR	2.00	Officer Director	$0	$0	$0
SCOTT INGHAM	V.P. AND DIRECTOR	2.00	Officer Director	$0	$0	$0
TOMMY PATRICK	DIRECTOR	1.00	Director	$0	$0	$0
MIKE STEWART	EXECUTIVE DIRECTOR	40.00	Officer	$190,460	$5,714	$196,174

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	$2,016,806	$1,888,432	$1,119,514	$128,374
2023	$1,414,178	$1,476,352	$420,184	$-62,174
2022	$1,321,456	$1,276,276	$482,029	$45,180
2021	$741,055	$752,246	$430,076	$-11,191
2020	$732,349	$854,144	$416,100	$-121,795
2019	$1,278,160	$1,136,898	$547,038	$141,262