LANGLEY 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

1976

Legal Domicile

Principal Officer

LORETTA MARTIN

Phone

3602215676

Tax Period

2023-01-01 to 2023-12-31

LANGLEY CHAMBER OF COMMERCE, founded in 1976, is a small nonprofit that reported $226K in total revenue in fiscal year 2023. Revenue surged 63% from the prior year, signaling strong growth momentum. Expenses of $210K left a modest 7% surplus.

Mission

ECONOMIC DEVELOPMENT OF SOUTH WHIDBEY ISLAND THROUGH TOURISM SUPPORT AND EVENTS

Program Service Accomplishments

Program 1

Expenses: $193,665

PROMOTE ECONOMIC DEVELOPMENT THROUGH TOURISM, LOCAL COMMUNITY OUTREACH AND CHAMBER MEMBERSHIP PROGRAMS AND WORKSHOPS, ABOUT 200 BUSINESS AND INDVIDUAL MEMBERS PARTICIPATE AS WELL AS COMMUNITY...

PROMOTE ECONOMIC DEVELOPMENT THROUGH TOURISM, LOCAL COMMUNITY OUTREACH AND CHAMBER MEMBERSHIP PROGRAMS AND WORKSHOPS, ABOUT 200 BUSINESS AND INDVIDUAL MEMBERS PARTICIPATE AS WELL AS COMMUNITY VOLUNTEERS DURING TOURISM EVENTS

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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 $223,410

Program Service Revenue $4,451

Investment Income $0

Other Revenue $-1,886

TOTAL REVENUE $225,975

Expense Breakdown

Grants Paid $0

Salaries & Benefits $103,971

Fundraising Expenses $16,337

Program Expenses $193,665

Other Expenses $106,031

TOTAL EXPENSES $210,002

Year-over-Year Comparison

	2023	2022	Change
Revenue	$225,975	$138,951	+0.6%
Expenses	$210,002	N/A	N/A
Net Income	$15,973	$138,951	-0.9%

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

Total Directors

$63,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CYTHIA TILKEN	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER WILKINS	DIRECTOR	1.00	Director	$0	$0	$0
RON ROIS	DIRECTOR	1.00	Director	$0	$0	$0
SAVANNAH ERICKSON	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL DAVIDSON	DIRECTOR	1.00	Director	$0	$0	$0
SARAH JEAN MUNCEY	DIRECTOR	1.00	Director	$0	$0	$0
JASON JUDY	DIRECTOR	1.00	Director	$0	$0	$0
INGE MORASCINI	EXECUTIVE DIRECTOR	40.00	Director	$63,000	$0	$63,000
LILLY VAN GERBIG	PRESIDENT	1.00	Officer	$0	$0	$0
FRED LUNDAHL	VICE PRESIDENT	1.00	Officer	$0	$0	$0
LORETTA MARTIN	TREASURER	1.00	Officer	$0	$0	$0
TOM FELVEY	DIRECTOR	1.00	Officer	$0	$0	$0
GIAVONNE MITCHELL	SECRETARY	1.00	Officer	$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	No data	No data	No data	No data
2023	$225,975	$210,002	$175,890	$15,973