LAKEWOOD 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

1972

Legal Domicile

Principal Officer

LINDA K SMITH

Phone

2535829400

Tax Period

2024-09-01 to 2025-08-31

LAKEWOOD CHAMBER OF COMMERCE, founded in 1972, is a small nonprofit that reported $322K in total revenue in fiscal year 2024.

Mission

TO PROMOTE THE COMMUNITY, PROVIDE NETWORKING OPPORTUNITIES, REPRESENT THE INTERESTS OF BUSINESS WITH THE GOVERNMENT THROUGH POLITICAL ACTIONS, CREATE A STRONG LOCAL ECONOMY, BUILD A STRONG CHAMBER AND BUSINESS COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $57,286 Revenue: $111,042

ENGAGE WITH MEMBERS TO PROMOTE TOURISM OPPORTUNITIES IN LAKEWOOD, WA AND SURROUNDING AREAS.

Program 2

Expenses: $16,179 Revenue: $109,539

PROVIDE GENERAL NETWORKING AND LEARNING OPPORTUNITIES FOR CHAMBER MEMBERS.

Program 3

Expenses: $30,311 Revenue: $85,107

PROMOTE COMMUNITY INVOLVEMENT BY SPONSORING ACTIVITIES. THESE INCLUDE DOWNTOWN HOLIDAY DECORATIONS, FOOT GOLF TOURNAMENT & JUNK IN THE TRUNK, AND OTHER VARIOUS COMMUNITY ACTIVITIES.

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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 $223,195

Program Service Revenue $98,828

Investment Income $1

Other Revenue $0

TOTAL REVENUE $322,024

Expense Breakdown

Grants Paid $0

Salaries & Benefits $187,074

Fundraising Expenses $0

Program Expenses $107,156

Other Expenses $145,850

TOTAL EXPENSES $332,924

Year-over-Year Comparison

	2024	2023	Change
Revenue	$322,024	$310,417	+0.0%
Expenses	$332,924	$335,582	0.0%
Net Income	$-10,900	$-25,165	-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

$91,696

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TAMMY FAELNAR	BOARD CHAIR	3.00	Director	$0	$0	$0
HAILEY WHEELER	TREASURER	3.00	Officer	$0	$0	$0
MICHAEL CRUZ	DIRECTOR	3.00	Director	$0	$0	$0
LINDA K SMITH	PRESIDENT &	40.00	Officer	$85,516	$6,180	$91,696
TIMOTHY VATTER	DIRECTOR	3.00	Director	$0	$0	$0
TOMMY CARSON	DIRECTOR	3.00	Director	$0	$0	$0
ELWIS JOHNSON	DIRECTOR	3.00	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
2025	$322,024	$332,924	$40,189	$-10,900
2024	$310,417	$335,582	$53,609	$-25,165
2023	No data	No data	No data	No data
2022	$266,876	$320,283	$86,135	$-53,407
2021	$292,141	$295,825	$172,311	$-3,684
2020	$264,684	$283,941	$159,048	$-19,257